FFLG vs. FBTC

Last updated Jun 24, 2026

FFLG (Fidelity Fundamental Large Cap Growth ETF) and FBTC (Fidelity Wise Origin Bitcoin Fund) are both exchange-traded funds - FFLG is a Large Cap Growth Equities fund actively managed by Fidelity, while FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. FFLG is actively managed, while FBTC is passively managed. Over the past year, FFLG returned 32.21% vs -39.80% for FBTC. At a 0.41 correlation, their price movements are largely independent. FFLG charges 0.38%/yr vs 0.25%/yr for FBTC.

Performance

FFLG vs. FBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Large Cap Growth ETF (FFLG) 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, FFLG achieves a 11.85% return, which is significantly higher than FBTC's -28.83% return.

FFLG

• 1D: -2.73%
• 1M: -1.13%
• YTD: 11.85%
• 6M: 10.60%
• 1Y: 32.21%
• 3Y*: 26.87%
• 5Y*: 10.19%
• 10Y*: —

FBTC

• 1D: -3.16%
• 1M: -17.78%
• YTD: -28.83%
• 6M: -28.94%
• 1Y: -39.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FFLG vs. FBTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFLG Fidelity Fundamental Large Cap Growth ETF	11.85%	19.61%	31.50%
FBTC Fidelity Wise Origin Bitcoin Fund	-28.83%	-6.56%	94.28%

Correlation

The correlation between FFLG and FBTC is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.41

Return for Risk

FFLG vs. FBTC — Risk / Return Rank

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

FFLG

FFLG Risk / Return Rank: 48
FFLG Sharpe Ratio Rank: 49
FFLG Sortino Ratio Rank: 46
FFLG Omega Ratio Rank: 46
FFLG Calmar Ratio Rank: 48
FFLG Martin Ratio Rank: 52

FBTC

FBTC Risk / Return Rank: 2
FBTC Sharpe Ratio Rank: 2
FBTC Sortino Ratio Rank: 2
FBTC Omega Ratio Rank: 2
FBTC Calmar Ratio Rank: 2
FBTC Martin Ratio Rank: 2

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.

FFLG vs. FBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Large Cap Growth ETF (FFLG) 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.

	FFLG	FBTC	Difference
Sharpe ratio: Return per unit of total volatility	1.63	-0.90	+2.53
Sortino ratio: Return per unit of downside risk	2.19	-1.26	+3.45
Omega ratio: Gain probability vs. loss probability	1.28	0.86	+0.42
Calmar ratio: Return relative to maximum drawdown	2.27	-0.77	+3.04
Martin ratio: Return relative to average drawdown	8.62	-1.30	+9.92

FFLG vs. FBTC - Sharpe Ratio Comparison

The current FFLG Sharpe Ratio is 1.63, which is higher than the FBTC Sharpe Ratio of -0.90. The chart below compares the historical Sharpe Ratios of FFLG 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

FFLG vs. FBTC - Drawdown Comparison

The maximum FFLG drawdown since its inception was -44.52%, smaller than the maximum FBTC drawdown of -52.07%. Use the drawdown chart below to compare losses from any high point for FFLG and FBTC.

Drawdown Indicators

	FFLG	FBTC	Difference
Max Drawdown Largest peak-to-trough decline	-44.52%	-52.07%	+7.55%
Max Drawdown (1Y) Largest decline over 1 year	-14.23%	-52.07%	+37.84%
Max Drawdown (3Y) Largest decline over 3 years	-26.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-44.52%	—	—
Current Drawdown Current decline from peak	-4.84%	-50.43%	+45.59%
Average Drawdown Average peak-to-trough decline	-14.16%	-16.77%	+2.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	30.54%	-26.79%

Volatility

FFLG vs. FBTC - Volatility Comparison

The current volatility for Fidelity Fundamental Large Cap Growth ETF (FFLG) is 8.52%, while Fidelity Wise Origin Bitcoin Fund (FBTC) has a volatility of 13.04%. This indicates that FFLG 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

	FFLG	FBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.52%	13.04%	-4.52%
Volatility (6M) Calculated over the trailing 6-month period	15.85%	34.56%	-18.71%
Volatility (1Y) Calculated over the trailing 1-year period	19.86%	44.18%	-24.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.56%	50.08%	-24.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.49%	50.08%	-24.59%

FFLG vs. FBTC - Expense Ratio Comparison

FFLG has a 0.38% expense ratio, which is higher than FBTC's 0.25% expense ratio.

Dividends

FFLG vs. FBTC - Dividend Comparison

FFLG's dividend yield for the trailing twelve months is around 0.13%, while FBTC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
FBTC Fidelity Wise Origin Bitcoin Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FFLG Fidelity Fundamental Large Cap Growth ETF	0.13%	0.14%	0.09%	0.00%	1.50%	0.55%

Frequently Asked Questions

Can I hold both FFLG and FBTC in my portfolio?

FFLG and FBTC have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFLG or FBTC?

FBTC has higher volatility (13.04%) compared to FFLG (8.52%). In terms of maximum drawdown, FFLG dropped -44.52% vs FBTC's -52.07%.

Which ETF is better, FFLG or FBTC?

On 1-year performance, FFLG leads with 32.21% vs -39.80% for FBTC. On fees, FBTC is cheaper at 0.25% per year. On volatility, FFLG has been the lower-risk option at 8.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFLG or FBTC?

Over the 1-year period, FFLG has performed better with a 32.21% return vs -39.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFLG or FBTC?

FBTC is cheaper with a 0.25% expense ratio, compared with 0.38% for FFLG.

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

FFLG has the higher dividend yield at 0.13%, compared with 0.00% for FBTC.

What is the main difference between FFLG and FBTC?

FFLG is categorized as Large Cap Growth Equities, while FBTC is Cryptocurrency. Their fees differ too: 0.38% for FFLG and 0.25% for FBTC.

Which has better risk-adjusted returns?

FFLG currently has the higher Sharpe Ratio (1.63 vs -0.90), 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.