FCNTX vs. BITO
FCNTX (Fidelity Contrafund) and BITO (ProShares Bitcoin Strategy ETF) are both funds - FCNTX is a Large Cap Growth Equities fund managed by Fidelity, while BITO is a Cryptocurrency fund actively managed by ProShares. Over the past 3 years, FCNTX returned 26.44%/yr vs 27.40%/yr for BITO. At a 0.41 correlation, their price movements are largely independent. FCNTX charges 0.39%/yr vs 0.95%/yr for BITO.
Performance
FCNTX vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, FCNTX achieves a 8.05% return, which is significantly higher than BITO's -25.13% return.
FCNTX
- 1D
- 1.31%
- 1M
- 1.79%
- YTD
- 8.05%
- 6M
- 9.44%
- 1Y
- 23.55%
- 3Y*
- 26.44%
- 5Y*
- 14.71%
- 10Y*
- 17.64%
BITO
- 1D
- 4.62%
- 1M
- -16.16%
- YTD
- -25.13%
- 6M
- -23.76%
- 1Y
- -39.30%
- 3Y*
- 27.40%
- 5Y*
- —
- 10Y*
- —
FCNTX vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FCNTX Fidelity Contrafund | 8.05% | 21.76% | 36.00% | 38.67% | -28.31% | 3.54% |
BITO ProShares Bitcoin Strategy ETF | -25.13% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between FCNTX and BITO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.41 |
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Return for Risk
FCNTX vs. BITO — Risk / Return Rank
FCNTX
BITO
FCNTX vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Contrafund (FCNTX) and ProShares Bitcoin Strategy ETF (BITO). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FCNTX | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.42 | ||
| Sortino ratioReturn per unit of downside risk | +3.35 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.86 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | -0.74 | +2.71 |
| Martin ratioReturn relative to average drawdown | 8.27 | -1.29 | +9.56 |
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Drawdowns
FCNTX vs. BITO - Drawdown Comparison
The maximum FCNTX drawdown since its inception was -49.19%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for FCNTX and BITO.
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Drawdown Indicators
| FCNTX | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.19% | -77.86% | +28.67% |
Max Drawdown (1Y)Largest decline over 1 year | -11.30% | -53.10% | +41.80% |
Max Drawdown (3Y)Largest decline over 3 years | -19.75% | -53.10% | +33.35% |
Max Drawdown (5Y)Largest decline over 5 years | -32.59% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.59% | — | — |
Current DrawdownCurrent decline from peak | -1.13% | -48.36% | +47.23% |
Average DrawdownAverage peak-to-trough decline | -8.15% | -36.80% | +28.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 30.47% | -27.78% |
Volatility
FCNTX vs. BITO - Volatility Comparison
The current volatility for Fidelity Contrafund (FCNTX) is 5.14%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 12.59%. This indicates that FCNTX experiences smaller price fluctuations and is considered to be less risky than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCNTX | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.14% | 12.59% | -7.45% |
Volatility (6M)Calculated over the trailing 6-month period | 11.22% | 34.54% | -23.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.58% | 44.17% | -29.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.23% | 55.08% | -35.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.71% | 55.08% | -35.37% |
FCNTX vs. BITO - Expense Ratio Comparison
FCNTX has a 0.39% expense ratio, which is lower than BITO's 0.95% expense ratio.
Dividends
FCNTX vs. BITO - Dividend Comparison
FCNTX's dividend yield for the trailing twelve months is around 4.32%, less than BITO's 66.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 66.51% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FCNTX Fidelity Contrafund | 4.32% | 5.21% | 4.19% | 3.78% | 11.87% | 10.80% | 8.01% | 4.16% | 7.46% | 6.08% | 3.81% | 5.33% |
Frequently Asked Questions
FCNTX and BITO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITO has higher volatility (12.59%) compared to FCNTX (5.14%). In terms of maximum drawdown, FCNTX dropped -49.19% vs BITO's -77.86%.
FCNTX currently has the higher Sharpe Ratio (1.53 vs -0.89), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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