FCVH.TO vs. FBTC.TO
FCVH.TO (Fidelity U.S. Value Currency Neutral ETF) and FBTC.TO (Fidelity Advantage Bitcoin ETF) are both exchange-traded funds - FCVH.TO is a Large Cap Value Equities fund actively managed by Fidelity, while FBTC.TO is a Cryptocurrency fund actively managed by Fidelity. Both are actively managed. Over the past 3 years, FCVH.TO returned 22.78%/yr vs 31.16%/yr for FBTC.TO. At a 0.20 correlation, their price movements are largely independent. FCVH.TO charges 0.38%/yr vs 0.40%/yr for FBTC.TO.
Performance
FCVH.TO vs. FBTC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FCVH.TO achieves a 13.62% return, which is significantly higher than FBTC.TO's -24.22% return.
FCVH.TO
- 1D
- 0.53%
- 1M
- 1.33%
- 6M
- 11.04%
- YTD
- 13.62%
- 1Y
- 34.00%
- 3Y*
- 22.78%
- 5Y*
- 17.72%
- 10Y*
- —
FBTC.TO
- 1D
- 0.44%
- 1M
- -2.44%
- 6M
- -32.82%
- YTD
- -24.22%
- 1Y
- -43.09%
- 3Y*
- 31.16%
- 5Y*
- —
- 10Y*
- —
FCVH.TO vs. FBTC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FCVH.TO Fidelity U.S. Value Currency Neutral ETF | 13.62% | 22.93% | 23.75% | 21.51% | -5.48% | 4.35% |
FBTC.TO Fidelity Advantage Bitcoin ETF | -24.22% | -10.85% | 137.16% | 145.80% | -61.34% | -20.46% |
Correlation
The correlation between FCVH.TO and FBTC.TO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | 0.20 |
The correlation between FCVH.TO and FBTC.TO shifts across timeframes, from 0.20 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FCVH.TO vs. FBTC.TO — Risk / Return Rank
FCVH.TO
FBTC.TO
FCVH.TO vs. FBTC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Value Currency Neutral ETF (FCVH.TO) and Fidelity Advantage Bitcoin ETF (FBTC.TO). 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.
| FCVH.TO | FBTC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.43 | ||
| Sortino ratioReturn per unit of downside risk | +4.93 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 0.84 | +0.59 |
| Calmar ratioReturn relative to maximum drawdown | 4.61 | -0.82 | +5.43 |
| Martin ratioReturn relative to average drawdown | 18.48 | -1.28 | +19.75 |
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Drawdowns
FCVH.TO vs. FBTC.TO - Drawdown Comparison
The maximum FCVH.TO drawdown since its inception was -20.54%, smaller than the maximum FBTC.TO drawdown of -70.77%. Use the drawdown chart below to compare losses from any high point for FCVH.TO and FBTC.TO.
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Drawdown Indicators
| FCVH.TO | FBTC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.54% | -70.77% | +50.23% |
Max Drawdown (1Y)Largest decline over 1 year | -7.41% | -52.71% | +45.30% |
Max Drawdown (3Y)Largest decline over 3 years | -16.34% | -52.71% | +36.37% |
Max Drawdown (5Y)Largest decline over 5 years | -20.54% | — | — |
Current DrawdownCurrent decline from peak | -0.20% | -48.26% | +48.06% |
Average DrawdownAverage peak-to-trough decline | -3.35% | -31.38% | +28.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 33.71% | -31.86% |
Volatility
FCVH.TO vs. FBTC.TO - Volatility Comparison
The current volatility for Fidelity U.S. Value Currency Neutral ETF (FCVH.TO) is 3.25%, while Fidelity Advantage Bitcoin ETF (FBTC.TO) has a volatility of 10.29%. This indicates that FCVH.TO experiences smaller price fluctuations and is considered to be less risky than FBTC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCVH.TO | FBTC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.25% | 10.29% | -7.04% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 33.54% | -22.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.01% | 43.74% | -29.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.66% | 52.10% | -34.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.71% | 52.10% | -34.39% |
FCVH.TO vs. FBTC.TO - Expense Ratio Comparison
FCVH.TO has a 0.38% expense ratio, which is lower than FBTC.TO's 0.40% expense ratio.
Dividends
FCVH.TO vs. FBTC.TO - Dividend Comparison
FCVH.TO's dividend yield for the trailing twelve months is around 0.81%, while FBTC.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FBTC.TO Fidelity Advantage Bitcoin ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FCVH.TO Fidelity U.S. Value Currency Neutral ETF | 0.81% | 1.01% | 1.07% | 0.88% | 2.91% | 1.15% | 3.34% |
Frequently Asked Questions
FCVH.TO and FBTC.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FCVH.TO is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FCVH.TO is cheaper with a 0.38% expense ratio, compared with 0.40% for FBTC.TO.
FCVH.TO is categorized as Large Cap Value Equities, while FBTC.TO is Cryptocurrency. Their fees differ too: 0.38% for FCVH.TO and 0.40% for FBTC.TO.
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