FEMV vs. FBTC
FEMV (Fidelity Enhanced Mid Cap Value ETF) and FBTC (Fidelity Wise Origin Bitcoin Fund) are both exchange-traded funds - FEMV is a Mid Cap Value Equities fund actively managed by Fidelity, while FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. FEMV is actively managed, while FBTC is passively managed. Their 0.22 correlation means their historical movements had little consistent relationship. FEMV charges 0.23%/yr vs 0.25%/yr for FBTC.
Performance
FEMV vs. FBTC - Performance Comparison
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Returns By Period
FEMV
- 1D
- 0.50%
- 1M
- 2.61%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
FBTC
- 1D
- 1.22%
- 1M
- 8.71%
- 6M
- -25.90%
- YTD
- -25.87%
- 1Y
- -44.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $163.47M | $202.88M | $239.97M | |
| $30.73K | $43.86K | $125.28K |
FEMV vs. FBTC - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
FEMV Fidelity Enhanced Mid Cap Value ETF | 8.50% |
FBTC Fidelity Wise Origin Bitcoin Fund | -14.00% |
Correlation
The correlation between FEMV and FBTC is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 30, 2026 | 0.22 |
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Return for Risk
FEMV vs. FBTC — Risk / Return Rank
FEMV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FBTC
FEMV vs. FBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Mid Cap Value ETF (FEMV) and Fidelity Wise Origin Bitcoin Fund (FBTC). 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.
| FEMV | FBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.83 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.84 | — |
| Martin ratioReturn relative to average drawdown | — | -1.31 | — |
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Drawdowns
FEMV vs. FBTC - Drawdown Comparison
The maximum FEMV drawdown since its inception was -2.69%, smaller than the maximum FBTC drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for FEMV and FBTC.
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Drawdown Indicators
| FEMV | FBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.69% | -53.35% | +50.66% |
Max Drawdown (1Y)Largest decline over 1 year | — | -53.35% | — |
Current DrawdownCurrent decline from peak | 0.00% | -48.36% | +48.36% |
Average DrawdownAverage peak-to-trough decline | -0.48% | -17.97% | +17.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 34.07% | — |
Volatility
FEMV vs. FBTC - Volatility Comparison
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Volatility by Period
| FEMV | FBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 8.86% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 34.09% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.35% | 44.30% | -32.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.35% | 49.56% | -38.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.35% | 49.56% | -38.21% |
FEMV vs. FBTC - Expense Ratio Comparison
FEMV has a 0.23% expense ratio, which is lower than FBTC's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FEMV vs. FBTC - Dividend Comparison
FEMV's dividend yield for the trailing twelve months is around 0.26%, while FBTC has not paid dividends to shareholders.
| Position | TTM |
|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | 0.00% |
FEMV Fidelity Enhanced Mid Cap Value ETF | 0.26% |
Frequently Asked Questions
FEMV and FBTC have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FEMV is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FEMV is cheaper with a 0.23% expense ratio, compared with 0.25% for FBTC.
FEMV has the higher dividend yield at 0.26%, compared with 0.00% for FBTC.
FEMV is categorized as Mid Cap Value Equities, while FBTC is Cryptocurrency. Their fees differ too: 0.23% for FEMV and 0.25% for FBTC.
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