FDFF vs. FBTC

Last updated Jul 14, 2026

FDFF (Fidelity Disruptive Finance ETF) and FBTC (Fidelity Wise Origin Bitcoin Fund) are both exchange-traded funds - FDFF is a Financials Equities fund actively managed by Fidelity, while FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. FDFF is actively managed, while FBTC is passively managed. Over the past year, FDFF returned -7.57% vs -47.53% for FBTC. At a 0.49 correlation, their price movements are largely independent. FDFF charges 0.50%/yr vs 0.25%/yr for FBTC.

Performance

FDFF vs. FBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Disruptive Finance ETF (FDFF) 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, FDFF achieves a -1.88% return, which is significantly higher than FBTC's -28.99% return.

FDFF

• 1D: 0.39%
• 1M: 6.98%
• 6M: -4.05%
• YTD: -1.88%
• 1Y: -7.57%
• 3Y*: 10.50%
• 5Y*: —
• 10Y*: —

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)

FDFF vs. FBTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FDFF Fidelity Disruptive Finance ETF	-1.88%	-2.75%	30.05%
FBTC Fidelity Wise Origin Bitcoin Fund	-28.99%	-6.56%	94.28%

Correlation

The correlation between FDFF and FBTC is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.50

Return for Risk

FDFF vs. FBTC — Risk / Return Rank

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

FDFF

FDFF Risk / Return Rank: 6
FDFF Sharpe Ratio Rank: 6
FDFF Sortino Ratio Rank: 6
FDFF Omega Ratio Rank: 6
FDFF Calmar Ratio Rank: 6
FDFF Martin Ratio Rank: 6

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.

FDFF vs. FBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Disruptive Finance ETF (FDFF) 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.

	FDFF	FBTC	Difference
Sharpe ratio: Return per unit of total volatility	-0.41	-1.08	+0.67
Sortino ratio: Return per unit of downside risk	-0.45	-1.66	+1.21
Omega ratio: Gain probability vs. loss probability	0.95	0.82	+0.13
Calmar ratio: Return relative to maximum drawdown	-0.34	-0.89	+0.55
Martin ratio: Return relative to average drawdown	-0.64	-1.46	+0.81

FDFF vs. FBTC - Sharpe Ratio Comparison

The current FDFF Sharpe Ratio is -0.41, which is higher than the FBTC Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of FDFF 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

FDFF vs. FBTC - Drawdown Comparison

The maximum FDFF drawdown since its inception was -23.06%, smaller than the maximum FBTC drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for FDFF and FBTC.

Drawdown Indicators

	FDFF	FBTC	Difference
Max Drawdown Largest peak-to-trough decline	-23.06%	-53.35%	+30.29%
Max Drawdown (1Y) Largest decline over 1 year	-22.31%	-53.35%	+31.04%
Max Drawdown (3Y) Largest decline over 3 years	-23.06%	—	—
Current Drawdown Current decline from peak	-10.89%	-50.54%	+39.65%
Average Drawdown Average peak-to-trough decline	-6.60%	-17.49%	+10.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.77%	32.68%	-20.91%

Volatility

FDFF vs. FBTC - Volatility Comparison

The current volatility for Fidelity Disruptive Finance ETF (FDFF) is 4.75%, while Fidelity Wise Origin Bitcoin Fund (FBTC) has a volatility of 11.38%. This indicates that FDFF 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

	FDFF	FBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	11.38%	-6.63%
Volatility (6M) Calculated over the trailing 6-month period	14.68%	34.71%	-20.03%
Volatility (1Y) Calculated over the trailing 1-year period	18.59%	44.27%	-25.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.98%	49.84%	-30.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.98%	49.84%	-30.86%

FDFF vs. FBTC - Expense Ratio Comparison

FDFF has a 0.50% expense ratio, which is higher than FBTC's 0.25% expense ratio.

Dividends

FDFF vs. FBTC - Dividend Comparison

FDFF's dividend yield for the trailing twelve months is around 1.01%, while FBTC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
FBTC Fidelity Wise Origin Bitcoin Fund	0.00%	0.00%	0.00%	0.00%
FDFF Fidelity Disruptive Finance ETF	1.01%	0.86%	0.70%	0.27%

Frequently Asked Questions

Can I hold both FDFF and FBTC in my portfolio?

FDFF and FBTC have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDFF or FBTC?

FBTC has higher volatility (11.38%) compared to FDFF (4.75%). In terms of maximum drawdown, FDFF dropped -23.06% vs FBTC's -53.35%.

Which ETF is better, FDFF or FBTC?

On 1-year performance, FDFF leads with -7.57% vs -47.53% for FBTC. On fees, FBTC is cheaper at 0.25% per year. On volatility, FDFF has been the lower-risk option at 4.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDFF or FBTC?

Over the 1-year period, FDFF has performed better with a -7.57% return vs -47.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDFF or FBTC?

FBTC is cheaper with a 0.25% expense ratio, compared with 0.50% for FDFF.

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

FDFF has the higher dividend yield at 1.01%, compared with 0.00% for FBTC.

What is the main difference between FDFF and FBTC?

FDFF is categorized as Financials Equities, while FBTC is Cryptocurrency. Their fees differ too: 0.50% for FDFF and 0.25% for FBTC.

Which has better risk-adjusted returns?

FDFF currently has the higher Sharpe Ratio (-0.41 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.