FCOM vs. FBTC
FCOM (Fidelity MSCI Communication Services Index ETF) and FBTC (Fidelity Wise Origin Bitcoin Fund) are both exchange-traded funds - FCOM is a Large Cap Growth Equities fund tracking the MSCI USA IMI Communication Services 25/50 Index, while FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. Both are passively managed. Over the past year, FCOM returned 10.42% vs -43.65% for FBTC. Their 0.33 correlation means their historical movements had little consistent relationship. FCOM charges 0.08%/yr vs 0.25%/yr for FBTC.
Performance
FCOM vs. FBTC - Performance Comparison
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Returns By Period
In the year-to-date period, FCOM achieves a -2.54% return, which is significantly higher than FBTC's -27.08% return.
FCOM
- 1D
- 3.50%
- 1M
- 0.35%
- 6M
- -5.04%
- YTD
- -2.54%
- 1Y
- 10.42%
- 3Y*
- 20.93%
- 5Y*
- 6.41%
- 10Y*
- 11.07%
- ALL TIME*
- 10.88%
FBTC
- 1D
- 1.61%
- 1M
- 3.87%
- 6M
- -18.12%
- YTD
- -27.08%
- 1Y
- -43.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $185.12M | $202.75M | $237.85M | |
| $19.70M | $14.75M | $13.31M |
FCOM vs. FBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FCOM Fidelity MSCI Communication Services Index ETF | -2.54% | 26.06% | 31.64% |
FBTC Fidelity Wise Origin Bitcoin Fund | -27.08% | -6.56% | 94.28% |
Correlation
The correlation between FCOM and FBTC is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.33 |
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Return for Risk
FCOM vs. FBTC — Risk / Return Rank
FCOM
FBTC
FCOM vs. FBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Communication Services Index ETF (FCOM) and Fidelity Wise Origin Bitcoin Fund (FBTC). 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.
| FCOM | FBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.60 | ||
| Sortino ratioReturn per unit of downside risk | +2.42 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.84 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.78 | -0.82 | +1.60 |
| Martin ratioReturn relative to average drawdown | 2.32 | -1.26 | +3.57 |
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Drawdowns
FCOM vs. FBTC - Drawdown Comparison
The maximum FCOM drawdown since its inception was -46.76%, smaller than the maximum FBTC drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for FCOM and FBTC.
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Drawdown Indicators
| FCOM | FBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.76% | -53.35% | +6.59% |
Max Drawdown (1Y)Largest decline over 1 year | -13.48% | -53.35% | +39.87% |
Max Drawdown (3Y)Largest decline over 3 years | -21.16% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -46.76% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.76% | — | — |
Current DrawdownCurrent decline from peak | -5.80% | -49.21% | +43.41% |
Average DrawdownAverage peak-to-trough decline | -8.64% | -18.22% | +9.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.51% | 34.76% | -30.25% |
Volatility
FCOM vs. FBTC - Volatility Comparison
The current volatility for Fidelity MSCI Communication Services Index ETF (FCOM) is 7.50%, while Fidelity Wise Origin Bitcoin Fund (FBTC) has a volatility of 8.89%. This indicates that FCOM experiences smaller price fluctuations and is considered to be less risky than FBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCOM | FBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.50% | 8.89% | -1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 13.77% | 33.75% | -19.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.20% | 44.38% | -27.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.47% | 49.44% | -27.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.10% | 49.44% | -28.34% |
FCOM vs. FBTC - Expense Ratio Comparison
FCOM has a 0.08% expense ratio, which is lower than FBTC's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FCOM vs. FBTC - Dividend Comparison
FCOM's dividend yield for the trailing twelve months is around 0.99%, while FBTC has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FCOM Fidelity MSCI Communication Services Index ETF | 0.99% | 0.88% | 0.87% | 0.77% | 1.04% | 0.90% | 0.68% | 0.86% | 2.78% | 11.70% | 2.27% | 2.92% |
Frequently Asked Questions
FCOM and FBTC have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBTC has higher volatility (8.89%) compared to FCOM (7.50%). In terms of maximum drawdown, FCOM dropped -46.76% vs FBTC's -53.35%.
On 1-year performance, FCOM leads with 10.42% vs -43.65% for FBTC. On fees, FCOM is cheaper at 0.08% per year. On volatility, FCOM has been the lower-risk option at 7.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FCOM has performed better with a 10.42% return vs -43.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FCOM is cheaper with a 0.08% expense ratio, compared with 0.25% for FBTC.
FCOM has the higher dividend yield at 0.99%, compared with 0.00% for FBTC.
FCOM is categorized as Large Cap Growth Equities, while FBTC is Cryptocurrency. FCOM tracks MSCI USA IMI Communication Services 25/50 Index, while FBTC tracks Fidelity Bitcoin Reference Rate. Their fees differ too: 0.08% for FCOM and 0.25% for FBTC.
FCOM currently has the higher Sharpe Ratio (0.61 vs -0.99), 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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