FDIG vs. FETH

Last updated Jun 4, 2026

FDIG (Fidelity Crypto Industry and Digital Payments ETF) and FETH (Fidelity Ethereum Fund) are both exchange-traded funds - FDIG is a Blockchain fund tracking the Fidelity Crypto Industry and Digital Payments Index, while FETH is a Cryptocurrency fund tracking the Fidelity Ethereum Reference Rate Index. Both are passively managed. Over the past year, FDIG returned 50.23% vs -31.75% for FETH. A 0.67 correlation means they provide meaningful diversification when combined. FDIG charges 0.39%/yr vs 0.00%/yr for FETH.

Performance

FDIG vs. FETH - 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 Ethereum Fund (FETH). 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 higher than FETH's -39.45% return.

FDIG

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

FETH

• 1D: -5.78%
• 1M: -23.67%
• YTD: -39.45%
• 6M: -42.77%
• 1Y: -31.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FDIG vs. FETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FDIG Fidelity Crypto Industry and Digital Payments ETF	19.73%	19.92%	-0.64%
FETH Fidelity Ethereum Fund	-39.45%	-11.37%	-3.61%

Correlation

The correlation between FDIG and FETH is 0.64, 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	0.64
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024	0.67

The correlation between FDIG and FETH has been stable across timeframes, ranging from 0.64 to 0.67 - a consistent structural relationship.

Return for Risk

FDIG vs. FETH — 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

FETH

FETH Risk / Return Rank: 5
FETH Sharpe Ratio Rank: 5
FETH Sortino Ratio Rank: 5
FETH Omega Ratio Rank: 5
FETH Calmar Ratio Rank: 4
FETH Martin Ratio Rank: 5

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. FETH - 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 Ethereum Fund (FETH). 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	FETH	Difference
Sharpe ratio: Return per unit of total volatility	1.02	-0.47	+1.49
Sortino ratio: Return per unit of downside risk	1.59	-0.32	+1.91
Omega ratio: Gain probability vs. loss probability	1.18	0.97	+0.22
Calmar ratio: Return relative to maximum drawdown	1.08	-0.51	+1.59
Martin ratio: Return relative to average drawdown	2.09	-0.84	+2.93
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. FETH - Sharpe Ratio Comparison

The current FDIG Sharpe Ratio is 1.02, which is higher than the FETH Sharpe Ratio of -0.47. The chart below compares the historical Sharpe Ratios of FDIG and FETH, 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	FETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	-0.47	+1.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	-0.41	+0.71

Drawdowns

FDIG vs. FETH - Drawdown Comparison

The maximum FDIG drawdown since its inception was -58.32%, smaller than the maximum FETH drawdown of -64.00%. Use the drawdown chart below to compare losses from any high point for FDIG and FETH.

Drawdown Indicators

	FDIG	FETH	Difference
Max Drawdown Largest peak-to-trough decline	-58.32%	-64.00%	+5.68%
Max Drawdown (1Y) Largest decline over 1 year	-46.69%	-62.95%	+16.26%
Max Drawdown (3Y) Largest decline over 3 years	-49.66%	—	—
Current Drawdown Current decline from peak	-20.70%	-62.95%	+42.25%
Average Drawdown Average peak-to-trough decline	-26.16%	-32.73%	+6.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.11%	37.82%	-13.71%

Volatility

FDIG vs. FETH - Volatility Comparison

Fidelity Crypto Industry and Digital Payments ETF (FDIG) has a higher volatility of 12.92% compared to Fidelity Ethereum Fund (FETH) at 9.99%. This indicates that FDIG's price experiences larger fluctuations and is considered to be riskier than FETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDIG	FETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.92%	9.99%	+2.93%
Volatility (6M) Calculated over the trailing 6-month period	35.95%	46.01%	-10.06%
Volatility (1Y) Calculated over the trailing 1-year period	49.60%	68.50%	-18.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.81%	72.27%	-11.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.81%	72.27%	-11.46%

FDIG vs. FETH - Expense Ratio Comparison

FDIG has a 0.39% expense ratio, which is higher than FETH's 0.00% expense ratio.

Dividends

FDIG vs. FETH - Dividend Comparison

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

Position	TTM	2025	2024	2023
FDIG Fidelity Crypto Industry and Digital Payments ETF	1.03%	1.14%	1.17%	0.18%
FETH Fidelity Ethereum Fund	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDIG and FETH in my portfolio?

FDIG and FETH have a correlation of 0.64, 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 FETH?

FDIG has higher volatility (12.92%) compared to FETH (9.99%). In terms of maximum drawdown, FDIG dropped -58.32% vs FETH's -64.00%.

Which ETF is better, FDIG or FETH?

On 1-year performance, FDIG leads with 50.23% vs -31.75% for FETH. On fees, FETH is cheaper at 0.00% per year. On volatility, FETH has been the lower-risk option at 9.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDIG or FETH?

Over the 1-year period, FDIG has performed better with a 50.23% return vs -31.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDIG or FETH?

FETH is cheaper with a 0.00% expense ratio, compared with 0.39% for FDIG.

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

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

What is the main difference between FDIG and FETH?

FDIG is categorized as Blockchain, while FETH is Cryptocurrency. FDIG tracks Fidelity Crypto Industry and Digital Payments Index, while FETH tracks Fidelity Ethereum Reference Rate Index. Their fees differ too: 0.39% for FDIG and 0.00% for FETH.

Which has better risk-adjusted returns?

FDIG currently has the higher Sharpe Ratio (1.02 vs -0.47), 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.