FLRG vs. FBTC
Compare and contrast key facts about Fidelity U.S. Multifactor ETF (FLRG) and Fidelity Wise Origin Bitcoin Trust (FBTC).
FLRG and FBTC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLRG is a passively managed fund by Fidelity that tracks the performance of the Fidelity U.S. Multifactor Index. It was launched on Sep 15, 2020. FBTC is a passively managed fund by Fidelity that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 11, 2024. Both FLRG and FBTC are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FLRG vs. FBTC - Performance Comparison
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FLRG vs. FBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FLRG Fidelity U.S. Multifactor ETF | -2.67% | 13.92% | 22.83% |
FBTC Fidelity Wise Origin Bitcoin Trust | -22.56% | -6.56% | 99.56% |
Returns By Period
In the year-to-date period, FLRG achieves a -2.67% return, which is significantly higher than FBTC's -22.56% return.
FLRG
- 1D
- 2.17%
- 1M
- -3.76%
- YTD
- -2.67%
- 6M
- -3.46%
- 1Y
- 12.61%
- 3Y*
- 15.88%
- 5Y*
- 11.55%
- 10Y*
- —
FBTC
- 1D
- 1.97%
- 1M
- 3.29%
- YTD
- -22.56%
- 6M
- -40.86%
- 1Y
- -17.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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FLRG vs. FBTC - Expense Ratio Comparison
FLRG has a 0.29% expense ratio, which is higher than FBTC's 0.25% expense ratio.
Return for Risk
FLRG vs. FBTC — Risk / Return Rank
FLRG
FBTC
FLRG vs. FBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Multifactor ETF (FLRG) and Fidelity Wise Origin Bitcoin Trust (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.
| FLRG | FBTC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.81 | -0.40 | +1.21 |
Sortino ratioReturn per unit of downside risk | 1.27 | -0.29 | +1.56 |
Omega ratioGain probability vs. loss probability | 1.19 | 0.97 | +0.22 |
Calmar ratioReturn relative to maximum drawdown | 1.33 | -0.39 | +1.72 |
Martin ratioReturn relative to average drawdown | 6.15 | -0.84 | +6.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLRG | FBTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.81 | -0.40 | +1.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.76 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | 0.35 | +0.56 |
Correlation
The correlation between FLRG and FBTC is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FLRG vs. FBTC - Dividend Comparison
FLRG's dividend yield for the trailing twelve months is around 1.51%, while FBTC has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FLRG Fidelity U.S. Multifactor ETF | 1.51% | 1.42% | 1.42% | 1.39% | 1.62% | 1.36% | 1.47% |
FBTC Fidelity Wise Origin Bitcoin Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FLRG vs. FBTC - Drawdown Comparison
The maximum FLRG drawdown since its inception was -19.64%, smaller than the maximum FBTC drawdown of -49.33%. Use the drawdown chart below to compare losses from any high point for FLRG and FBTC.
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Drawdown Indicators
| FLRG | FBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.64% | -49.33% | +29.69% |
Max Drawdown (1Y)Largest decline over 1 year | -10.72% | -49.33% | +38.61% |
Max Drawdown (5Y)Largest decline over 5 years | -19.64% | — | — |
Current DrawdownCurrent decline from peak | -5.15% | -46.06% | +40.91% |
Average DrawdownAverage peak-to-trough decline | -3.84% | -14.12% | +10.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 23.05% | -20.73% |
Volatility
FLRG vs. FBTC - Volatility Comparison
The current volatility for Fidelity U.S. Multifactor ETF (FLRG) is 4.27%, while Fidelity Wise Origin Bitcoin Trust (FBTC) has a volatility of 12.97%. This indicates that FLRG 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.
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Volatility by Period
| FLRG | FBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.27% | 12.97% | -8.70% |
Volatility (6M)Calculated over the trailing 6-month period | 7.91% | 36.77% | -28.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.68% | 45.30% | -29.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.22% | 51.21% | -35.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.15% | 51.21% | -36.06% |