FDIG vs. WGMI

Last updated Jul 15, 2026

FDIG (Fidelity Crypto Industry and Digital Payments ETF) and WGMI (CoinShares Bitcoin Miners ETF) are both exchange-traded funds - FDIG is a Blockchain fund tracking the Fidelity Crypto Industry and Digital Payments Index, while WGMI is a Cryptocurrency fund actively managed by CoinShares. FDIG is passively managed, while WGMI is actively managed. Over the past 3 years, FDIG returned 19.63%/yr vs 43.43%/yr for WGMI. Their correlation of 0.94 suggests significant overlap in exposure. FDIG charges 0.39%/yr vs 0.75%/yr for WGMI.

Performance

FDIG vs. WGMI - Performance Comparison

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

Returns By Period

In the year-to-date period, FDIG achieves a 8.21% return, which is significantly lower than WGMI's 36.48% return.

FDIG

• 1D: 1.16%
• 1M: -5.73%
• 6M: -5.21%
• YTD: 8.21%
• 1Y: 9.34%
• 3Y*: 19.63%
• 5Y*: —
• 10Y*: —

WGMI

• 1D: -0.08%
• 1M: -20.83%
• 6M: 6.88%
• YTD: 36.48%
• 1Y: 104.26%
• 3Y*: 43.43%
• 5Y*: —
• 10Y*: —

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

FDIG vs. WGMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FDIG Fidelity Crypto Industry and Digital Payments ETF	8.21%	19.92%	18.41%	166.00%	-59.37%
WGMI CoinShares Bitcoin Miners ETF	36.48%	72.47%	23.54%	304.08%	-78.34%

Correlation

The correlation between FDIG and WGMI is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Apr 21, 2022	0.94

The correlation between FDIG and WGMI has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

FDIG vs. WGMI - Sectors Allocation Comparison

Sectors	FDIG	WGMI
Financial Services	55.6%	50.9%
Technology	38.2%	45.2%
Industrials	3.1%	0.5%
Consumer Cyclical	1.6%	-
Utilities	0.9%	2.0%
Communication Services	0.7%	1.4%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

FDIG vs. WGMI — Risk / Return Rank

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

FDIG

FDIG Risk / Return Rank: 13
FDIG Sharpe Ratio Rank: 12
FDIG Sortino Ratio Rank: 15
FDIG Omega Ratio Rank: 14
FDIG Calmar Ratio Rank: 12
FDIG Martin Ratio Rank: 11

WGMI

WGMI Risk / Return Rank: 45
WGMI Sharpe Ratio Rank: 49
WGMI Sortino Ratio Rank: 49
WGMI Omega Ratio Rank: 44
WGMI Calmar Ratio Rank: 51
WGMI Martin Ratio Rank: 34

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. WGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Crypto Industry and Digital Payments ETF (FDIG) and CoinShares Bitcoin Miners ETF (WGMI). 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	WGMI	Difference
Sharpe ratio: Return per unit of total volatility	0.19	1.35	-1.17
Sortino ratio: Return per unit of downside risk	0.62	1.98	-1.36
Omega ratio: Gain probability vs. loss probability	1.07	1.23	-0.16
Calmar ratio: Return relative to maximum drawdown	0.20	2.06	-1.86
Martin ratio: Return relative to average drawdown	0.37	4.09	-3.73

FDIG vs. WGMI - Sharpe Ratio Comparison

The current FDIG Sharpe Ratio is 0.19, which is lower than the WGMI Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of FDIG and WGMI, 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. WGMI - Drawdown Comparison

The maximum FDIG drawdown since its inception was -61.35%, smaller than the maximum WGMI drawdown of -85.76%. Use the drawdown chart below to compare losses from any high point for FDIG and WGMI.

Drawdown Indicators

	FDIG	WGMI	Difference
Max Drawdown Largest peak-to-trough decline	-61.35%	-85.76%	+24.41%
Max Drawdown (1Y) Largest decline over 1 year	-46.69%	-50.94%	+4.25%
Max Drawdown (3Y) Largest decline over 3 years	-49.66%	-62.79%	+13.13%
Current Drawdown Current decline from peak	-28.33%	-27.56%	-0.77%
Average Drawdown Average peak-to-trough decline	-27.47%	-42.13%	+14.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.48%	25.56%	-0.08%

Volatility

FDIG vs. WGMI - Volatility Comparison

The current volatility for Fidelity Crypto Industry and Digital Payments ETF (FDIG) is 10.36%, while CoinShares Bitcoin Miners ETF (WGMI) has a volatility of 20.72%. This indicates that FDIG experiences smaller price fluctuations and is considered to be less risky than WGMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDIG	WGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.36%	20.72%	-10.36%
Volatility (6M) Calculated over the trailing 6-month period	36.48%	56.03%	-19.55%
Volatility (1Y) Calculated over the trailing 1-year period	50.30%	77.51%	-27.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.66%	81.51%	-20.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.66%	81.51%	-20.85%

FDIG vs. WGMI - Expense Ratio Comparison

FDIG has a 0.39% expense ratio, which is lower than WGMI's 0.75% expense ratio.

Dividends

FDIG vs. WGMI - Dividend Comparison

FDIG's dividend yield for the trailing twelve months is around 1.51%, while WGMI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
FDIG Fidelity Crypto Industry and Digital Payments ETF	1.51%	1.14%	1.17%	0.18%
WGMI CoinShares Bitcoin Miners ETF	0.00%	0.00%	0.22%	0.31%

Frequently Asked Questions

Can I hold both FDIG and WGMI in my portfolio?

With a correlation of 0.91, FDIG and WGMI 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 WGMI?

WGMI has higher volatility (20.72%) compared to FDIG (10.36%). In terms of maximum drawdown, FDIG dropped -61.35% vs WGMI's -85.76%.

Which ETF is better, FDIG or WGMI?

On 3-year performance, WGMI leads with 43.43% vs 19.63% for FDIG. On fees, FDIG is cheaper at 0.39% per year. On volatility, FDIG has been the lower-risk option at 10.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDIG or WGMI?

Over the 3-year period, WGMI has performed better with a 43.43% return vs 19.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDIG or WGMI?

FDIG is cheaper with a 0.39% expense ratio, compared with 0.75% for WGMI.

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

FDIG has the higher dividend yield at 1.51%, compared with 0.00% for WGMI.

What is the main difference between FDIG and WGMI?

FDIG is categorized as Blockchain, while WGMI is Cryptocurrency. They also come from different issuers: Fidelity and CoinShares. Their fees differ too: 0.39% for FDIG and 0.75% for WGMI.

Which has better risk-adjusted returns?

WGMI currently has the higher Sharpe Ratio (1.35 vs 0.19), 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.