FFGX vs. FBTC

Last updated Jul 14, 2026

FFGX (Fidelity Fundamental Global ex-U.S. ETF) and FBTC (Fidelity Wise Origin Bitcoin Fund) are both exchange-traded funds - FFGX is a Foreign Large Cap Equities fund actively managed by Fidelity, while FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. FFGX is actively managed, while FBTC is passively managed. Over the past year, FFGX returned 19.32% vs -47.53% for FBTC. At a 0.42 correlation, their price movements are largely independent. FFGX charges 0.55%/yr vs 0.25%/yr for FBTC.

Performance

FFGX vs. FBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Global ex-U.S. ETF (FFGX) and Fidelity Wise Origin Bitcoin Fund (FBTC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFGX achieves a 10.94% return, which is significantly higher than FBTC's -28.99% return.

FFGX

• 1D: -2.29%
• 1M: -2.14%
• 6M: 5.70%
• YTD: 10.94%
• 1Y: 19.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FBTC

• 1D: -2.67%
• 1M: -2.20%
• 6M: -32.07%
• YTD: -28.99%
• 1Y: -47.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FFGX vs. FBTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFGX Fidelity Fundamental Global ex-U.S. ETF	10.94%	27.85%	-9.98%
FBTC Fidelity Wise Origin Bitcoin Fund	-28.99%	-6.56%	-1.16%

Correlation

The correlation between FFGX and FBTC is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	0.42

Return for Risk

FFGX vs. FBTC — Risk / Return Rank

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

FFGX

FFGX Risk / Return Rank: 36
FFGX Sharpe Ratio Rank: 34
FFGX Sortino Ratio Rank: 33
FFGX Omega Ratio Rank: 35
FFGX Calmar Ratio Rank: 37
FFGX Martin Ratio Rank: 44

FBTC

FBTC Risk / Return Rank: 1
FBTC Sharpe Ratio Rank: 1
FBTC Sortino Ratio Rank: 1
FBTC Omega Ratio Rank: 1
FBTC Calmar Ratio Rank: 1
FBTC Martin Ratio Rank: 1

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.

FFGX vs. FBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Global ex-U.S. ETF (FFGX) 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.

	FFGX	FBTC	Difference
Sharpe ratio: Return per unit of total volatility	0.98	-1.08	+2.06
Sortino ratio: Return per unit of downside risk	1.45	-1.66	+3.11
Omega ratio: Gain probability vs. loss probability	1.19	0.82	+0.37
Calmar ratio: Return relative to maximum drawdown	1.51	-0.89	+2.40
Martin ratio: Return relative to average drawdown	5.67	-1.46	+7.12

FFGX vs. FBTC - Sharpe Ratio Comparison

The current FFGX Sharpe Ratio is 0.98, which is higher than the FBTC Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of FFGX and FBTC, 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

FFGX vs. FBTC - Drawdown Comparison

The maximum FFGX drawdown since its inception was -14.95%, smaller than the maximum FBTC drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for FFGX and FBTC.

Drawdown Indicators

	FFGX	FBTC	Difference
Max Drawdown Largest peak-to-trough decline	-14.95%	-53.35%	+38.40%
Max Drawdown (1Y) Largest decline over 1 year	-12.86%	-53.35%	+40.49%
Current Drawdown Current decline from peak	-5.72%	-50.54%	+44.82%
Average Drawdown Average peak-to-trough decline	-2.90%	-17.49%	+14.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	32.68%	-29.26%

Volatility

FFGX vs. FBTC - Volatility Comparison

The current volatility for Fidelity Fundamental Global ex-U.S. ETF (FFGX) is 7.98%, while Fidelity Wise Origin Bitcoin Fund (FBTC) has a volatility of 11.38%. This indicates that FFGX experiences smaller price fluctuations and is considered to be less risky than FBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFGX	FBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.98%	11.38%	-3.40%
Volatility (6M) Calculated over the trailing 6-month period	17.96%	34.71%	-16.75%
Volatility (1Y) Calculated over the trailing 1-year period	19.77%	44.27%	-24.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.67%	49.84%	-29.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.67%	49.84%	-29.17%

FFGX vs. FBTC - Expense Ratio Comparison

FFGX has a 0.55% expense ratio, which is higher than FBTC's 0.25% expense ratio.

Dividends

FFGX vs. FBTC - Dividend Comparison

FFGX's dividend yield for the trailing twelve months is around 1.56%, while FBTC has not paid dividends to shareholders.

Position	TTM	2025	2024
FBTC Fidelity Wise Origin Bitcoin Fund	0.00%	0.00%	0.00%
FFGX Fidelity Fundamental Global ex-U.S. ETF	1.56%	1.62%	0.40%

Frequently Asked Questions

Can I hold both FFGX and FBTC in my portfolio?

FFGX and FBTC have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFGX or FBTC?

FBTC has higher volatility (11.38%) compared to FFGX (7.98%). In terms of maximum drawdown, FFGX dropped -14.95% vs FBTC's -53.35%.

Which ETF is better, FFGX or FBTC?

On 1-year performance, FFGX leads with 19.32% vs -47.53% for FBTC. On fees, FBTC is cheaper at 0.25% per year. On volatility, FFGX has been the lower-risk option at 7.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFGX or FBTC?

Over the 1-year period, FFGX has performed better with a 19.32% return vs -47.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFGX or FBTC?

FBTC is cheaper with a 0.25% expense ratio, compared with 0.55% for FFGX.

Which ETF pays a higher dividend yield, FFGX or FBTC?

FFGX has the higher dividend yield at 1.56%, compared with 0.00% for FBTC.

What is the main difference between FFGX and FBTC?

FFGX is categorized as Foreign Large Cap Equities, while FBTC is Cryptocurrency. Their fees differ too: 0.55% for FFGX and 0.25% for FBTC.

Which has better risk-adjusted returns?

FFGX currently has the higher Sharpe Ratio (0.98 vs -1.08), 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.