FDIG vs. BITQ

Last updated Jun 4, 2026

FDIG (Fidelity Crypto Industry and Digital Payments ETF) and BITQ (Bitwise Crypto Industry Innovators ETF) are both exchange-traded funds - FDIG is a Blockchain fund tracking the Fidelity Crypto Industry and Digital Payments Index, while BITQ is a Technology Equities fund tracking the Bitwise Crypto Innovators 30 Total Return. Both are passively managed. Over the past 3 years, FDIG returned 40.44%/yr vs 58.56%/yr for BITQ. With a 0.96 correlation, they move nearly in lockstep. FDIG charges 0.39%/yr vs 0.85%/yr for BITQ.

Performance

FDIG vs. BITQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Crypto Industry and Digital Payments ETF (FDIG) and Bitwise Crypto Industry Innovators ETF (BITQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDIG achieves a 19.73% return, which is significantly lower than BITQ's 39.79% return.

FDIG

• 1D: -2.69%
• 1M: 10.27%
• YTD: 19.73%
• 6M: 6.20%
• 1Y: 50.23%
• 3Y*: 40.44%
• 5Y*: —
• 10Y*: —

BITQ

• 1D: -2.21%
• 1M: 11.04%
• YTD: 39.79%
• 6M: 21.39%
• 1Y: 60.30%
• 3Y*: 58.56%
• 5Y*: 5.19%
• 10Y*: —

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

FDIG vs. BITQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FDIG Fidelity Crypto Industry and Digital Payments ETF	19.73%	19.92%	18.41%	166.00%	-56.18%
BITQ Bitwise Crypto Industry Innovators ETF	39.79%	18.00%	46.97%	246.83%	-74.98%

Correlation

The correlation between FDIG and BITQ is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Apr 22, 2022	0.96

The correlation between FDIG and BITQ has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

FDIG vs. BITQ - Sectors Allocation Comparison

Sectors	FDIG	BITQ
Financial Services	56.6%	67.1%
Technology	39.5%	28.1%
Industrials	1.7%	-
Communication Services	0.9%	-
Utilities	0.8%	-
Consumer Cyclical	0.5%	4.8%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

FDIG vs. BITQ — Risk / Return Rank

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

FDIG

FDIG Risk / Return Rank: 25
FDIG Sharpe Ratio Rank: 28
FDIG Sortino Ratio Rank: 29
FDIG Omega Ratio Rank: 27
FDIG Calmar Ratio Rank: 23
FDIG Martin Ratio Rank: 19

BITQ

BITQ Risk / Return Rank: 28
BITQ Sharpe Ratio Rank: 29
BITQ Sortino Ratio Rank: 31
BITQ Omega Ratio Rank: 29
BITQ Calmar Ratio Rank: 27
BITQ Martin Ratio Rank: 22

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.

FDIG vs. BITQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Crypto Industry and Digital Payments ETF (FDIG) and Bitwise Crypto Industry Innovators ETF (BITQ). 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.

	FDIG	BITQ	Difference
Sharpe ratio: Return per unit of total volatility	1.02	1.08	-0.06
Sortino ratio: Return per unit of downside risk	1.59	1.68	-0.09
Omega ratio: Gain probability vs. loss probability	1.18	1.20	-0.01
Calmar ratio: Return relative to maximum drawdown	1.08	1.35	-0.27
Martin ratio: Return relative to average drawdown	2.09	2.84	-0.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDIG vs. BITQ - Sharpe Ratio Comparison

The current FDIG Sharpe Ratio is 1.02, which is comparable to the BITQ Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of FDIG and BITQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FDIG	BITQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	1.08	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.07	+0.23

Drawdowns

FDIG vs. BITQ - Drawdown Comparison

The maximum FDIG drawdown since its inception was -58.32%, smaller than the maximum BITQ drawdown of -90.32%. Use the drawdown chart below to compare losses from any high point for FDIG and BITQ.

Drawdown Indicators

	FDIG	BITQ	Difference
Max Drawdown Largest peak-to-trough decline	-58.32%	-90.32%	+32.00%
Max Drawdown (1Y) Largest decline over 1 year	-46.69%	-44.99%	-1.70%
Max Drawdown (3Y) Largest decline over 3 years	-49.66%	-51.22%	+1.56%
Max Drawdown (5Y) Largest decline over 5 years	—	-90.32%	—
Current Drawdown Current decline from peak	-20.70%	-14.06%	-6.64%
Average Drawdown Average peak-to-trough decline	-26.16%	-52.80%	+26.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.11%	21.32%	+2.79%

Volatility

FDIG vs. BITQ - Volatility Comparison

The current volatility for Fidelity Crypto Industry and Digital Payments ETF (FDIG) is 12.92%, while Bitwise Crypto Industry Innovators ETF (BITQ) has a volatility of 14.73%. This indicates that FDIG experiences smaller price fluctuations and is considered to be less risky than BITQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDIG	BITQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.92%	14.73%	-1.81%
Volatility (6M) Calculated over the trailing 6-month period	35.95%	42.74%	-6.79%
Volatility (1Y) Calculated over the trailing 1-year period	49.60%	56.05%	-6.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.81%	67.17%	-6.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.81%	67.23%	-6.42%

FDIG vs. BITQ - Expense Ratio Comparison

FDIG has a 0.39% expense ratio, which is lower than BITQ's 0.85% expense ratio.

Dividends

FDIG vs. BITQ - Dividend Comparison

FDIG's dividend yield for the trailing twelve months is around 1.03%, while BITQ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
BITQ Bitwise Crypto Industry Innovators ETF	0.00%	0.00%	0.90%	1.51%	0.00%	3.12%
FDIG Fidelity Crypto Industry and Digital Payments ETF	1.03%	1.14%	1.17%	0.18%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDIG and BITQ in my portfolio?

With a correlation of 0.97, FDIG and BITQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FDIG or BITQ?

BITQ has higher volatility (14.73%) compared to FDIG (12.92%). In terms of maximum drawdown, FDIG dropped -58.32% vs BITQ's -90.32%.

Which ETF is better, FDIG or BITQ?

On 3-year performance, BITQ leads with 58.56% vs 40.44% for FDIG. On fees, FDIG is cheaper at 0.39% per year. On volatility, FDIG has been the lower-risk option at 12.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDIG or BITQ?

Over the 3-year period, BITQ has performed better with a 58.56% return vs 40.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDIG or BITQ?

FDIG is cheaper with a 0.39% expense ratio, compared with 0.85% for BITQ.

Which ETF pays a higher dividend yield, FDIG or BITQ?

FDIG has the higher dividend yield at 1.03%, compared with 0.00% for BITQ.

What is the main difference between FDIG and BITQ?

FDIG is categorized as Blockchain, while BITQ is Technology Equities. FDIG tracks Fidelity Crypto Industry and Digital Payments Index, while BITQ tracks Bitwise Crypto Innovators 30 Total Return. They also come from different issuers: Fidelity and Exchange Traded Concepts. Their fees differ too: 0.39% for FDIG and 0.85% for BITQ.

Which has better risk-adjusted returns?

BITQ currently has the higher Sharpe Ratio (1.08 vs 1.02), 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.