FCOR vs. FBTC

Last updated Jul 14, 2026

FCOR (Fidelity Corporate Bond ETF) and FBTC (Fidelity Wise Origin Bitcoin Fund) are both exchange-traded funds - FCOR is a Corporate Bonds fund actively managed by Fidelity, while FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. FCOR is actively managed, while FBTC is passively managed. Over the past year, FCOR returned 3.95% vs -47.53% for FBTC. At a 0.08 correlation, their price movements are largely independent. FCOR charges 0.36%/yr vs 0.25%/yr for FBTC.

Performance

FCOR vs. FBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Corporate Bond ETF (FCOR) and Fidelity Wise Origin Bitcoin Fund (FBTC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCOR achieves a -0.29% return, which is significantly higher than FBTC's -28.99% return.

FCOR

• 1D: -0.37%
• 1M: -0.87%
• 6M: -0.53%
• YTD: -0.29%
• 1Y: 3.95%
• 3Y*: 5.15%
• 5Y*: 0.17%
• 10Y*: 2.60%

FBTC

• 1D: -2.67%
• 1M: -2.20%
• 6M: -32.07%
• YTD: -28.99%
• 1Y: -47.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FCOR vs. FBTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FCOR Fidelity Corporate Bond ETF	-0.29%	7.88%	4.15%
FBTC Fidelity Wise Origin Bitcoin Fund	-28.99%	-6.56%	94.28%

Correlation

The correlation between FCOR and FBTC is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.08

Return for Risk

FCOR vs. FBTC — Risk / Return Rank

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

FCOR

FCOR Risk / Return Rank: 30
FCOR Sharpe Ratio Rank: 31
FCOR Sortino Ratio Rank: 29
FCOR Omega Ratio Rank: 28
FCOR Calmar Ratio Rank: 32
FCOR Martin Ratio Rank: 33

FBTC

FBTC Risk / Return Rank: 1
FBTC Sharpe Ratio Rank: 1
FBTC Sortino Ratio Rank: 1
FBTC Omega Ratio Rank: 1
FBTC Calmar Ratio Rank: 1
FBTC Martin Ratio Rank: 1

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.

FCOR vs. FBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Corporate Bond ETF (FCOR) 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.

	FCOR	FBTC	Difference
Sharpe ratio: Return per unit of total volatility	0.91	-1.08	+1.99
Sortino ratio: Return per unit of downside risk	1.32	-1.66	+2.97
Omega ratio: Gain probability vs. loss probability	1.16	0.82	+0.34
Calmar ratio: Return relative to maximum drawdown	1.29	-0.89	+2.19
Martin ratio: Return relative to average drawdown	3.83	-1.46	+5.29

FCOR vs. FBTC - Sharpe Ratio Comparison

The current FCOR Sharpe Ratio is 0.91, which is higher than the FBTC Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of FCOR and FBTC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FCOR vs. FBTC - Drawdown Comparison

The maximum FCOR drawdown since its inception was -22.60%, smaller than the maximum FBTC drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for FCOR and FBTC.

Drawdown Indicators

	FCOR	FBTC	Difference
Max Drawdown Largest peak-to-trough decline	-22.60%	-53.35%	+30.75%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-53.35%	+50.29%
Max Drawdown (3Y) Largest decline over 3 years	-6.60%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.60%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-22.60%	—	—
Current Drawdown Current decline from peak	-1.93%	-50.54%	+48.61%
Average Drawdown Average peak-to-trough decline	-4.69%	-17.49%	+12.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	32.68%	-31.65%

Volatility

FCOR vs. FBTC - Volatility Comparison

The current volatility for Fidelity Corporate Bond ETF (FCOR) is 1.45%, while Fidelity Wise Origin Bitcoin Fund (FBTC) has a volatility of 11.38%. This indicates that FCOR 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.

Volatility by Period

	FCOR	FBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.45%	11.38%	-9.93%
Volatility (6M) Calculated over the trailing 6-month period	3.53%	34.71%	-31.18%
Volatility (1Y) Calculated over the trailing 1-year period	4.37%	44.27%	-39.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.07%	49.84%	-42.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.10%	49.84%	-42.74%

FCOR vs. FBTC - Expense Ratio Comparison

FCOR has a 0.36% expense ratio, which is higher than FBTC's 0.25% expense ratio.

Dividends

FCOR vs. FBTC - Dividend Comparison

FCOR's dividend yield for the trailing twelve months is around 4.62%, 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%
FCOR Fidelity Corporate Bond ETF	4.62%	4.47%	4.35%	3.70%	3.30%	2.34%	2.99%	3.10%	3.65%	2.81%	3.04%	3.82%

Frequently Asked Questions

Can I hold both FCOR and FBTC in my portfolio?

FCOR and FBTC have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCOR or FBTC?

FBTC has higher volatility (11.38%) compared to FCOR (1.45%). In terms of maximum drawdown, FCOR dropped -22.60% vs FBTC's -53.35%.

Which ETF is better, FCOR or FBTC?

On 1-year performance, FCOR leads with 3.95% vs -47.53% for FBTC. On fees, FBTC is cheaper at 0.25% per year. On volatility, FCOR has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCOR or FBTC?

Over the 1-year period, FCOR has performed better with a 3.95% return vs -47.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCOR or FBTC?

FBTC is cheaper with a 0.25% expense ratio, compared with 0.36% for FCOR.

Which ETF pays a higher dividend yield, FCOR or FBTC?

FCOR has the higher dividend yield at 4.62%, compared with 0.00% for FBTC.

What is the main difference between FCOR and FBTC?

FCOR is categorized as Corporate Bonds, while FBTC is Cryptocurrency. Their fees differ too: 0.36% for FCOR and 0.25% for FBTC.

Which has better risk-adjusted returns?

FCOR currently has the higher Sharpe Ratio (0.91 vs -1.08), 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.