FDIG vs. BPAY

Last updated Aug 5, 2026

FDIG (Fidelity Crypto Industry and Digital Payments ETF) and BPAY (BlackRock Future Financial and Technology ETF) are both exchange-traded funds - FDIG is a Blockchain fund tracking the Fidelity Crypto Industry and Digital Payments Index, while BPAY is a Financials Equities fund actively managed by BlackRock. FDIG is passively managed, while BPAY is actively managed. Over the past 3 years, FDIG returned 26.83%/yr vs 11.11%/yr for BPAY. Their 0.65 correlation means they have sometimes moved together and sometimes differently. FDIG charges 0.39%/yr vs 0.70%/yr for BPAY.

Performance

FDIG vs. BPAY - Performance Comparison

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

Returns By Period

In the year-to-date period, FDIG achieves a 10.72% return, which is significantly higher than BPAY's 2.71% return.

FDIG

• 1D: 1.18%
• 1M: 1.96%
• 6M: 12.26%
• YTD: 10.72%
• 1Y: 18.84%
• 3Y*: 26.83%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.16%

BPAY

• 1D: 1.63%
• 1M: 4.37%
• 6M: 13.07%
• YTD: 2.71%
• 1Y: -9.72%
• 3Y*: 11.11%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.54%

*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)
BPAY BlackRock Future Financial and Technology ETF	$86.93K	$85.07K	$57.25K
FDIG Fidelity Crypto Industry and Digital Payments ETF	$1.02M	$1.11M	$1.86M

FDIG vs. BPAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FDIG Fidelity Crypto Industry and Digital Payments ETF	10.72%	19.92%	18.41%	166.00%	-44.01%
BPAY BlackRock Future Financial and Technology ETF	2.71%	8.54%	17.28%	13.19%	-16.32%

Correlation

The correlation between FDIG and BPAY is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (All Time) Calculated using the full available price history since Aug 18, 2022	0.65

The correlation between FDIG and BPAY has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.

FDIG vs. BPAY - Sectors Allocation Comparison

Sectors	FDIG	BPAY
Financial Services	47.4%	54.2%
Technology	34.1%	35.5%
Industrials	1.7%	4.3%
Consumer Cyclical	1.7%	6.1%
Communication Services	0.8%	-
Utilities	0.7%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	2.2%

Return for Risk

FDIG vs. BPAY — Risk / Return Rank

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

FDIG

FDIG Risk / Return Rank: 18
FDIG Sharpe Ratio Rank: 18
FDIG Sortino Ratio Rank: 22
FDIG Omega Ratio Rank: 20
FDIG Calmar Ratio Rank: 16
FDIG Martin Ratio Rank: 15

BPAY

BPAY Risk / Return Rank: 6
BPAY Sharpe Ratio Rank: 6
BPAY Sortino Ratio Rank: 6
BPAY Omega Ratio Rank: 6
BPAY Calmar Ratio Rank: 7
BPAY Martin Ratio Rank: 7

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.

FDIG vs. BPAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Crypto Industry and Digital Payments ETF (FDIG) and BlackRock Future Financial and Technology ETF (BPAY). 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.

	FDIG	BPAY	Difference
Sharpe ratio: Return per unit of total volatility	0.37	-0.37	+0.75
Sortino ratio: Return per unit of downside risk	0.86	-0.35	+1.22
Omega ratio: Gain probability vs. loss probability	1.10	0.96	+0.14
Calmar ratio: Return relative to maximum drawdown	0.41	-0.30	+0.70
Martin ratio: Return relative to average drawdown	0.72	-0.54	+1.26

FDIG vs. BPAY - Sharpe Ratio Comparison

The current FDIG Sharpe Ratio is 0.37, which is higher than the BPAY Sharpe Ratio of -0.37. The chart below compares the historical Sharpe Ratios of FDIG and BPAY, 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

FDIG vs. BPAY - Drawdown Comparison

The maximum FDIG drawdown since its inception was -61.35%, which is greater than BPAY's maximum drawdown of -33.62%. Use the drawdown chart below to compare losses from any high point for FDIG and BPAY.

Drawdown Indicators

	FDIG	BPAY	Difference
Max Drawdown Largest peak-to-trough decline	-61.35%	-33.62%	-27.73%
Max Drawdown (1Y) Largest decline over 1 year	-46.69%	-32.78%	-13.91%
Max Drawdown (3Y) Largest decline over 3 years	-49.66%	-33.62%	-16.04%
Current Drawdown Current decline from peak	-26.67%	-13.23%	-13.44%
Average Drawdown Average peak-to-trough decline	-27.49%	-10.92%	-16.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.33%	17.98%	+8.35%

Volatility

FDIG vs. BPAY - Volatility Comparison

Fidelity Crypto Industry and Digital Payments ETF (FDIG) has a higher volatility of 13.98% compared to BlackRock Future Financial and Technology ETF (BPAY) at 6.99%. This indicates that FDIG's price experiences larger fluctuations and is considered to be riskier than BPAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDIG	BPAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.98%	6.99%	+6.99%
Volatility (6M) Calculated over the trailing 6-month period	37.09%	20.47%	+16.62%
Volatility (1Y) Calculated over the trailing 1-year period	50.98%	26.16%	+24.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.54%	24.50%	+36.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.54%	24.50%	+36.04%

FDIG vs. BPAY - Expense Ratio Comparison

FDIG has a 0.39% expense ratio, which is lower than BPAY's 0.70% expense ratio.

Dividends

FDIG vs. BPAY - Dividend Comparison

FDIG's dividend yield for the trailing twelve months is around 1.47%, less than BPAY's 6.60% yield.

Position	TTM	2025	2024	2023	2022
BPAY BlackRock Future Financial and Technology ETF	6.60%	6.49%	0.48%	1.18%	0.18%
FDIG Fidelity Crypto Industry and Digital Payments ETF	1.47%	1.14%	1.17%	0.18%	0.00%

Frequently Asked Questions

Can I hold both FDIG and BPAY in my portfolio?

FDIG and BPAY have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDIG or BPAY?

FDIG has higher volatility (13.98%) compared to BPAY (6.99%). In terms of maximum drawdown, FDIG dropped -61.35% vs BPAY's -33.62%.

Which ETF is better, FDIG or BPAY?

On 3-year performance, FDIG leads with 26.83% vs 11.11% for BPAY. On fees, FDIG is cheaper at 0.39% per year. On volatility, BPAY has been the lower-risk option at 6.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDIG or BPAY?

Over the 3-year period, FDIG has performed better with a 26.83% return vs 11.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDIG or BPAY?

FDIG is cheaper with a 0.39% expense ratio, compared with 0.70% for BPAY.

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

BPAY has the higher dividend yield at 6.60%, compared with 1.47% for FDIG.

What is the main difference between FDIG and BPAY?

FDIG is categorized as Blockchain, while BPAY is Financials Equities. They also come from different issuers: Fidelity and BlackRock. Their fees differ too: 0.39% for FDIG and 0.70% for BPAY.

Which has better risk-adjusted returns?

FDIG currently has the higher Sharpe Ratio (0.37 vs -0.37), 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.