FLTB vs. FBTC

Last updated Jul 15, 2026

FLTB (Fidelity Limited Term Bond ETF) and FBTC (Fidelity Wise Origin Bitcoin Fund) are both exchange-traded funds - FLTB is a Short-Term Bond fund actively managed by Fidelity, while FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. FLTB is actively managed, while FBTC is passively managed. Over the past year, FLTB returned 4.03% vs -46.31% for FBTC. At a 0.02 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.

Performance

FLTB vs. FBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Limited Term Bond ETF (FLTB) 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, FLTB achieves a 0.98% return, which is significantly higher than FBTC's -26.25% return.

FLTB

• 1D: 0.16%
• 1M: 0.02%
• 6M: 0.74%
• YTD: 0.98%
• 1Y: 4.03%
• 3Y*: 5.50%
• 5Y*: 2.28%
• 10Y*: 2.42%

FBTC

• 1D: 3.86%
• 1M: 1.57%
• 6M: -31.71%
• YTD: -26.25%
• 1Y: -46.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLTB vs. FBTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FLTB Fidelity Limited Term Bond ETF	0.98%	6.60%	5.33%
FBTC Fidelity Wise Origin Bitcoin Fund	-26.25%	-6.56%	94.28%

Correlation

The correlation between FLTB and FBTC is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.02

Return for Risk

FLTB vs. FBTC — Risk / Return Rank

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

FLTB

FLTB Risk / Return Rank: 76
FLTB Sharpe Ratio Rank: 77
FLTB Sortino Ratio Rank: 84
FLTB Omega Ratio Rank: 78
FLTB Calmar Ratio Rank: 67
FLTB Martin Ratio Rank: 76

FBTC

FBTC Risk / Return Rank: 2
FBTC Sharpe Ratio Rank: 1
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.

FLTB vs. FBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Limited Term Bond ETF (FLTB) 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.

	FLTB	FBTC	Difference
Sharpe ratio: Return per unit of total volatility	1.94	-1.05	+2.98
Sortino ratio: Return per unit of downside risk	2.97	-1.59	+4.56
Omega ratio: Gain probability vs. loss probability	1.36	0.83	+0.54
Calmar ratio: Return relative to maximum drawdown	2.66	-0.87	+3.53
Martin ratio: Return relative to average drawdown	11.15	-1.41	+12.56

FLTB vs. FBTC - Sharpe Ratio Comparison

The current FLTB Sharpe Ratio is 1.94, which is higher than the FBTC Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of FLTB 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

FLTB vs. FBTC - Drawdown Comparison

The maximum FLTB drawdown since its inception was -9.37%, smaller than the maximum FBTC drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for FLTB and FBTC.

Drawdown Indicators

	FLTB	FBTC	Difference
Max Drawdown Largest peak-to-trough decline	-9.37%	-53.35%	+43.98%
Max Drawdown (1Y) Largest decline over 1 year	-1.52%	-53.35%	+51.83%
Max Drawdown (3Y) Largest decline over 3 years	-1.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-9.37%	—	—
Current Drawdown Current decline from peak	-0.22%	-48.63%	+48.41%
Average Drawdown Average peak-to-trough decline	-1.39%	-17.54%	+16.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	32.83%	-32.47%

Volatility

FLTB vs. FBTC - Volatility Comparison

The current volatility for Fidelity Limited Term Bond ETF (FLTB) is 0.51%, while Fidelity Wise Origin Bitcoin Fund (FBTC) has a volatility of 11.72%. This indicates that FLTB 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

	FLTB	FBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	11.72%	-11.21%
Volatility (6M) Calculated over the trailing 6-month period	1.67%	34.95%	-33.28%
Volatility (1Y) Calculated over the trailing 1-year period	2.09%	44.37%	-42.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.81%	49.86%	-47.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.94%	49.86%	-46.92%

FLTB vs. FBTC - Expense Ratio Comparison

Both FLTB and FBTC have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FLTB vs. FBTC - Dividend Comparison

FLTB's dividend yield for the trailing twelve months is around 4.37%, while FBTC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBTC Fidelity Wise Origin Bitcoin Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FLTB Fidelity Limited Term Bond ETF	4.37%	4.31%	4.11%	3.20%	1.63%	0.89%	1.56%	2.67%	2.50%	1.78%	1.59%	1.63%

Frequently Asked Questions

Can I hold both FLTB and FBTC in my portfolio?

FLTB and FBTC have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLTB or FBTC?

FBTC has higher volatility (11.72%) compared to FLTB (0.51%). In terms of maximum drawdown, FLTB dropped -9.37% vs FBTC's -53.35%.

Which ETF is better, FLTB or FBTC?

On 1-year performance, FLTB leads with 4.03% vs -46.31% for FBTC. Both ETFs have the same 0.25% expense ratio. On volatility, FLTB has been the lower-risk option at 0.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLTB or FBTC?

Over the 1-year period, FLTB has performed better with a 4.03% return vs -46.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLTB or FBTC?

FLTB and FBTC have the same expense ratio: 0.25% per year.

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

FLTB has the higher dividend yield at 4.37%, compared with 0.00% for FBTC.

What is the main difference between FLTB and FBTC?

FLTB is categorized as Short-Term Bond, while FBTC is Cryptocurrency.

Which has better risk-adjusted returns?

FLTB currently has the higher Sharpe Ratio (1.94 vs -1.05), 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.