FDIG vs. FCLD

Last updated Jun 23, 2026

FDIG (Fidelity Crypto Industry and Digital Payments ETF) and FCLD (Fidelity Cloud Computing ETF) are both exchange-traded funds - FDIG is a Blockchain fund tracking the Fidelity Crypto Industry and Digital Payments Index, while FCLD is a Technology Equities fund tracking the Fidelity Cloud Computing Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, FDIG returned 37.38%/yr vs 26.51%/yr for FCLD. A 0.64 correlation means they provide meaningful diversification when combined. Both charge a 0.39% expense ratio.

Performance

FDIG vs. FCLD - Performance Comparison

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

Returns By Period

In the year-to-date period, FDIG achieves a 19.84% return, which is significantly lower than FCLD's 28.34% return.

FDIG

• 1D: -0.65%
• 1M: 2.67%
• YTD: 19.84%
• 6M: 11.49%
• 1Y: 45.64%
• 3Y*: 37.38%
• 5Y*: —
• 10Y*: —

FCLD

• 1D: -0.79%
• 1M: 6.91%
• YTD: 28.34%
• 6M: 25.80%
• 1Y: 40.03%
• 3Y*: 26.51%
• 5Y*: —
• 10Y*: —

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

FDIG vs. FCLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FDIG Fidelity Crypto Industry and Digital Payments ETF	19.84%	19.92%	18.41%	166.00%	-59.37%
FCLD Fidelity Cloud Computing ETF	28.34%	8.19%	21.80%	53.05%	-24.67%

Correlation

The correlation between FDIG and FCLD is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (All Time) Calculated using the full available price history since Apr 21, 2022	0.64

The correlation between FDIG and FCLD shifts across timeframes, from 0.50 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FDIG vs. FCLD — Risk / Return Rank

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

FDIG

FDIG Risk / Return Rank: 24
FDIG Sharpe Ratio Rank: 26
FDIG Sortino Ratio Rank: 28
FDIG Omega Ratio Rank: 25
FDIG Calmar Ratio Rank: 22
FDIG Martin Ratio Rank: 17

FCLD

FCLD Risk / Return Rank: 41
FCLD Sharpe Ratio Rank: 41
FCLD Sortino Ratio Rank: 40
FCLD Omega Ratio Rank: 38
FCLD Calmar Ratio Rank: 48
FCLD Martin Ratio Rank: 38

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. FCLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Crypto Industry and Digital Payments ETF (FDIG) and Fidelity Cloud Computing ETF (FCLD). 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	FCLD	Difference
Sharpe ratio: Return per unit of total volatility	0.91	1.42	-0.51
Sortino ratio: Return per unit of downside risk	1.47	1.99	-0.52
Omega ratio: Gain probability vs. loss probability	1.17	1.24	-0.07
Calmar ratio: Return relative to maximum drawdown	0.98	2.30	-1.32
Martin ratio: Return relative to average drawdown	1.86	5.80	-3.94

FDIG vs. FCLD - Sharpe Ratio Comparison

The current FDIG Sharpe Ratio is 0.91, which is lower than the FCLD Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of FDIG and FCLD, 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. FCLD - Drawdown Comparison

The maximum FDIG drawdown since its inception was -61.35%, which is greater than FCLD's maximum drawdown of -50.85%. Use the drawdown chart below to compare losses from any high point for FDIG and FCLD.

Drawdown Indicators

	FDIG	FCLD	Difference
Max Drawdown Largest peak-to-trough decline	-61.35%	-50.85%	-10.50%
Max Drawdown (1Y) Largest decline over 1 year	-46.69%	-17.48%	-29.21%
Max Drawdown (3Y) Largest decline over 3 years	-49.66%	-34.80%	-14.86%
Current Drawdown Current decline from peak	-20.63%	-8.44%	-12.19%
Average Drawdown Average peak-to-trough decline	-27.49%	-20.37%	-7.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.65%	6.92%	+17.73%

Volatility

FDIG vs. FCLD - Volatility Comparison

Fidelity Crypto Industry and Digital Payments ETF (FDIG) has a higher volatility of 16.08% compared to Fidelity Cloud Computing ETF (FCLD) at 12.51%. This indicates that FDIG's price experiences larger fluctuations and is considered to be riskier than FCLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDIG	FCLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.08%	12.51%	+3.57%
Volatility (6M) Calculated over the trailing 6-month period	37.00%	22.97%	+14.03%
Volatility (1Y) Calculated over the trailing 1-year period	50.73%	28.37%	+22.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.93%	30.55%	+30.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.93%	30.55%	+30.38%

FDIG vs. FCLD - Expense Ratio Comparison

Both FDIG and FCLD have an expense ratio of 0.39%.

Dividends

FDIG vs. FCLD - Dividend Comparison

FDIG's dividend yield for the trailing twelve months is around 1.36%, more than FCLD's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021
FCLD Fidelity Cloud Computing ETF	0.01%	0.03%	0.13%	0.17%	0.26%	0.13%
FDIG Fidelity Crypto Industry and Digital Payments ETF	1.36%	1.14%	1.17%	0.18%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDIG and FCLD in my portfolio?

FDIG and FCLD have a correlation of 0.50, 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 FCLD?

FDIG has higher volatility (16.08%) compared to FCLD (12.51%). In terms of maximum drawdown, FDIG dropped -61.35% vs FCLD's -50.85%.

Which ETF is better, FDIG or FCLD?

On 3-year performance, FDIG leads with 37.38% vs 26.51% for FCLD. Both ETFs have the same 0.39% expense ratio. On volatility, FCLD has been the lower-risk option at 12.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDIG or FCLD?

Over the 3-year period, FDIG has performed better with a 37.38% return vs 26.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDIG or FCLD?

FDIG and FCLD have the same expense ratio: 0.39% per year.

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

FDIG has the higher dividend yield at 1.36%, compared with 0.01% for FCLD.

What is the main difference between FDIG and FCLD?

FDIG is categorized as Blockchain, while FCLD is Technology Equities. FDIG tracks Fidelity Crypto Industry and Digital Payments Index, while FCLD tracks Fidelity Cloud Computing Index - Benchmark TR Gross.

Which has better risk-adjusted returns?

FCLD currently has the higher Sharpe Ratio (1.42 vs 0.91), 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.