FDFF vs. PBEU

Last updated Aug 4, 2026

FDFF (Fidelity Disruptive Finance ETF) and PBEU (Portfolio Building Block European Banks Index ETF) are both Financials Equities funds. FDFF is actively managed, while PBEU is passively managed. Their 0.59 correlation means they have sometimes moved together and sometimes differently. FDFF charges 0.50%/yr vs 0.13%/yr for PBEU.

Performance

FDFF vs. PBEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Disruptive Finance ETF (FDFF) and Portfolio Building Block European Banks Index ETF (PBEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDFF achieves a 2.08% return, which is significantly lower than PBEU's 23.70% return.

FDFF

• 1D: 1.66%
• 1M: 5.14%
• 6M: 3.96%
• YTD: 2.08%
• 1Y: -1.80%
• 3Y*: 11.88%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.28%

PBEU

• 1D: 1.56%
• 1M: 7.27%
• 6M: 13.44%
• YTD: 23.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FDFF Fidelity Disruptive Finance ETF	$136.84K	$154.95K	$132.20K
PBEU Portfolio Building Block European Banks Index ETF	$1.75M	$1.59M	$5.53M

FDFF vs. PBEU - Yearly Performance Comparison

	2026 (YTD)	2025
FDFF Fidelity Disruptive Finance ETF	2.08%	6.12%
PBEU Portfolio Building Block European Banks Index ETF	23.70%	11.42%

Correlation

The correlation between FDFF and PBEU is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025	0.59

Return for Risk

FDFF vs. PBEU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FDFF

FDFF Risk / Return Rank: 9
FDFF Sharpe Ratio Rank: 9
FDFF Sortino Ratio Rank: 9
FDFF Omega Ratio Rank: 9
FDFF Calmar Ratio Rank: 10
FDFF Martin Ratio Rank: 10

PBEU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FDFF vs. PBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Disruptive Finance ETF (FDFF) and Portfolio Building Block European Banks Index ETF (PBEU). 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	PBEU	Difference
Sharpe ratio: Return per unit of total volatility	-0.10	—	—
Sortino ratio: Return per unit of downside risk	-0.01	—	—
Omega ratio: Gain probability vs. loss probability	1.00	—	—
Calmar ratio: Return relative to maximum drawdown	-0.09	—	—
Martin ratio: Return relative to average drawdown	-0.18	—	—

Drawdowns

FDFF vs. PBEU - Drawdown Comparison

The maximum FDFF drawdown since its inception was -23.06%, which is greater than PBEU's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for FDFF and PBEU.

Drawdown Indicators

	FDFF	PBEU	Difference
Max Drawdown Largest peak-to-trough decline	-23.06%	-17.26%	-5.80%
Max Drawdown (1Y) Largest decline over 1 year	-20.60%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.06%	—	—
Current Drawdown Current decline from peak	-7.30%	0.00%	-7.30%
Average Drawdown Average peak-to-trough decline	-6.66%	-3.52%	-3.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.26%	—	—

Volatility

Volatility by Period

	FDFF	PBEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.88%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.62%	27.31%	-8.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.95%	27.31%	-8.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.95%	27.31%	-8.36%

FDFF vs. PBEU - Expense Ratio Comparison

FDFF has a 0.50% expense ratio, which is higher than PBEU's 0.13% expense ratio.

Dividends

FDFF vs. PBEU - Dividend Comparison

FDFF's dividend yield for the trailing twelve months is around 0.97%, more than PBEU's 0.01% yield.

Position	TTM	2025	2024	2023
FDFF Fidelity Disruptive Finance ETF	0.97%	0.86%	0.70%	0.27%
PBEU Portfolio Building Block European Banks Index ETF	0.01%	0.01%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDFF and PBEU in my portfolio?

FDFF and PBEU have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FDFF or PBEU?

On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FDFF or PBEU?

PBEU is cheaper with a 0.13% expense ratio, compared with 0.50% for FDFF.

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

FDFF has the higher dividend yield at 0.97%, compared with 0.01% for PBEU.

What is the main difference between FDFF and PBEU?

They also come from different issuers: Fidelity and Portfolio Building Block. Their fees differ too: 0.50% for FDFF and 0.13% for PBEU.