FBTCX vs. IBIT

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Advisor Biotechnology Fund Class C (FBTCX) and iShares Bitcoin Trust ETF (IBIT).

FBTCX is managed by Fidelity. It was launched on Dec 27, 2000. IBIT is a passively managed fund by iShares that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 5, 2024.

Performance

FBTCX vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Biotechnology Fund Class C (FBTCX) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

FBTCX vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FBTCX Fidelity Advisor Biotechnology Fund Class C	-2.86%	38.48%	-5.43%
IBIT iShares Bitcoin Trust ETF	-22.62%	-6.41%	99.21%

Returns By Period

In the year-to-date period, FBTCX achieves a -2.86% return, which is significantly higher than IBIT's -22.62% return.

FBTCX

• 1D: -0.75%
• 1M: -6.13%
• YTD: -2.86%
• 6M: 10.98%
• 1Y: 41.66%
• 3Y*: 15.08%
• 5Y*: 5.77%
• 10Y*: 9.77%

IBIT

• 1D: 1.96%
• 1M: 3.31%
• YTD: -22.62%
• 6M: -40.89%
• 1Y: -17.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FBTCX vs. IBIT - Expense Ratio Comparison

FBTCX has a 1.75% expense ratio, which is higher than IBIT's 0.25% expense ratio.

FBTCX

Fidelity Advisor Biotechnology Fund Class C

IBIT

iShares Bitcoin Trust ETF

Return for Risk

FBTCX vs. IBIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FBTCX

FBTCX Risk / Return Rank: 82
FBTCX Sharpe Ratio Rank: 82
FBTCX Sortino Ratio Rank: 81
FBTCX Omega Ratio Rank: 71
FBTCX Calmar Ratio Rank: 88
FBTCX Martin Ratio Rank: 87

IBIT

IBIT Risk / Return Rank: 6
IBIT Sharpe Ratio Rank: 5
IBIT Sortino Ratio Rank: 6
IBIT Omega Ratio Rank: 7
IBIT Calmar Ratio Rank: 6
IBIT Martin Ratio Rank: 6

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FBTCX vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Biotechnology Fund Class C (FBTCX) and iShares Bitcoin Trust ETF (IBIT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FBTCX	IBIT	Difference
Sharpe ratio Return per unit of total volatility	1.52	-0.40	+1.92
Sortino ratio Return per unit of downside risk	2.06	-0.29	+2.35
Omega ratio Gain probability vs. loss probability	1.26	0.97	+0.30
Calmar ratio Return relative to maximum drawdown	2.31	-0.39	+2.70
Martin ratio Return relative to average drawdown	9.25	-0.83	+10.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBTCX vs. IBIT - Sharpe Ratio Comparison

The current FBTCX Sharpe Ratio is 1.52, which is higher than the IBIT Sharpe Ratio of -0.40. The chart below compares the historical Sharpe Ratios of FBTCX and IBIT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FBTCX	IBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	-0.40	+1.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.35	-0.09

Correlation

The correlation between FBTCX and IBIT is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FBTCX vs. IBIT - Dividend Comparison

FBTCX's dividend yield for the trailing twelve months is around 1.73%, while IBIT has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBTCX Fidelity Advisor Biotechnology Fund Class C	1.73%	1.68%	0.00%	0.00%	0.00%	24.50%	9.78%	7.92%	2.92%	0.00%	0.00%	5.73%
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FBTCX vs. IBIT - Drawdown Comparison

The maximum FBTCX drawdown since its inception was -64.04%, which is greater than IBIT's maximum drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for FBTCX and IBIT.

Drawdown Indicators

	FBTCX	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-64.04%	-49.36%	-14.68%
Max Drawdown (1Y) Largest decline over 1 year	-13.63%	-49.36%	+35.73%
Max Drawdown (5Y) Largest decline over 5 years	-37.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.37%	—	—
Current Drawdown Current decline from peak	-7.46%	-46.11%	+38.65%
Average Drawdown Average peak-to-trough decline	-23.21%	-14.13%	-9.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.16%	23.09%	-18.93%

Volatility

FBTCX vs. IBIT - Volatility Comparison

The current volatility for Fidelity Advisor Biotechnology Fund Class C (FBTCX) is 7.76%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 12.99%. This indicates that FBTCX experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBTCX	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.76%	12.99%	-5.23%
Volatility (6M) Calculated over the trailing 6-month period	16.37%	36.75%	-20.38%
Volatility (1Y) Calculated over the trailing 1-year period	25.57%	45.42%	-19.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.40%	51.26%	-27.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.62%	51.26%	-26.64%