FMET vs. FDIG

Last updated Jun 3, 2026

FMET (Fidelity Metaverse ETF) and FDIG (Fidelity Crypto Industry and Digital Payments ETF) are both exchange-traded funds - FMET is a Communications Equities fund actively managed by Fidelity, while FDIG is a Blockchain fund tracking the Fidelity Crypto Industry and Digital Payments Index. FMET is actively managed, while FDIG is passively managed. Over the past 3 years, FMET returned 17.27%/yr vs 41.73%/yr for FDIG. A 0.64 correlation means they provide meaningful diversification when combined. Both charge a 0.39% expense ratio.

Performance

FMET vs. FDIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Metaverse ETF (FMET) and Fidelity Crypto Industry and Digital Payments ETF (FDIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMET achieves a 11.46% return, which is significantly lower than FDIG's 23.04% return.

FMET

• 1D: 0.18%
• 1M: 9.41%
• YTD: 11.46%
• 6M: 11.72%
• 1Y: 30.24%
• 3Y*: 17.27%
• 5Y*: —
• 10Y*: —

FDIG

• 1D: -2.12%
• 1M: 17.09%
• YTD: 23.04%
• 6M: 13.12%
• 1Y: 59.79%
• 3Y*: 41.73%
• 5Y*: —
• 10Y*: —

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

FMET vs. FDIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FMET Fidelity Metaverse ETF	11.46%	21.93%	6.76%	39.18%	-16.56%
FDIG Fidelity Crypto Industry and Digital Payments ETF	23.04%	19.92%	18.41%	166.00%	-56.18%

Correlation

The correlation between FMET and FDIG is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Apr 22, 2022	0.64

The correlation between FMET and FDIG has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.

FMET vs. FDIG - Sectors Allocation Comparison

Sectors	FMET	FDIG
Technology	56.5%	39.5%
Communication Services	35.2%	0.9%
Real Estate	8.3%	-
Basic Materials	-	-
Consumer Cyclical	-	0.5%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	56.6%
Healthcare	-	-
Industrials	-	1.7%
Utilities	-	0.8%

Return for Risk

FMET vs. FDIG — Risk / Return Rank

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

FMET

FMET Risk / Return Rank: 36
FMET Sharpe Ratio Rank: 44
FMET Sortino Ratio Rank: 42
FMET Omega Ratio Rank: 43
FMET Calmar Ratio Rank: 28
FMET Martin Ratio Rank: 26

FDIG

FDIG Risk / Return Rank: 29
FDIG Sharpe Ratio Rank: 33
FDIG Sortino Ratio Rank: 33
FDIG Omega Ratio Rank: 31
FDIG Calmar Ratio Rank: 27
FDIG Martin Ratio Rank: 21

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.

FMET vs. FDIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Metaverse ETF (FMET) and Fidelity Crypto Industry and Digital Payments ETF (FDIG). 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.

	FMET	FDIG	Difference
Sharpe ratio Return per unit of total volatility	1.56	1.21	+0.35
Sortino ratio Return per unit of downside risk	2.16	1.78	+0.38
Omega ratio Gain probability vs. loss probability	1.28	1.21	+0.07
Calmar ratio Return relative to maximum drawdown	1.39	1.34	+0.04
Martin ratio Return relative to average drawdown	3.70	2.61	+1.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMET vs. FDIG - Sharpe Ratio Comparison

The current FMET Sharpe Ratio is 1.56, which is comparable to the FDIG Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of FMET and FDIG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FMET	FDIG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	1.21	+0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.31	+0.25

Drawdowns

FMET vs. FDIG - Drawdown Comparison

The maximum FMET drawdown since its inception was -29.22%, smaller than the maximum FDIG drawdown of -58.32%. Use the drawdown chart below to compare losses from any high point for FMET and FDIG.

Drawdown Indicators

	FMET	FDIG	Difference
Max Drawdown Largest peak-to-trough decline	-29.22%	-58.32%	+29.10%
Max Drawdown (1Y) Largest decline over 1 year	-23.00%	-46.69%	+23.69%
Max Drawdown (3Y) Largest decline over 3 years	-25.02%	-49.66%	+24.64%
Current Drawdown Current decline from peak	0.00%	-18.51%	+18.51%
Average Drawdown Average peak-to-trough decline	-7.48%	-26.17%	+18.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.63%	24.07%	-15.44%

Volatility

FMET vs. FDIG - Volatility Comparison

The current volatility for Fidelity Metaverse ETF (FMET) is 5.87%, while Fidelity Crypto Industry and Digital Payments ETF (FDIG) has a volatility of 12.76%. This indicates that FMET experiences smaller price fluctuations and is considered to be less risky than FDIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMET	FDIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.87%	12.76%	-6.89%
Volatility (6M) Calculated over the trailing 6-month period	14.67%	36.01%	-21.34%
Volatility (1Y) Calculated over the trailing 1-year period	19.48%	49.54%	-30.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.20%	60.82%	-36.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.20%	60.82%	-36.62%

FMET vs. FDIG - Expense Ratio Comparison

Both FMET and FDIG have an expense ratio of 0.39%.

Dividends

FMET vs. FDIG - Dividend Comparison

FMET's dividend yield for the trailing twelve months is around 0.50%, less than FDIG's 1.00% yield.

Position	TTM	2025	2024	2023	2022
FDIG Fidelity Crypto Industry and Digital Payments ETF	1.00%	1.14%	1.17%	0.18%	0.00%
FMET Fidelity Metaverse ETF	0.50%	0.81%	0.44%	0.40%	0.18%

Frequently Asked Questions

Can I hold both FMET and FDIG in my portfolio?

FMET and FDIG have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMET or FDIG?

FDIG has higher volatility (12.76%) compared to FMET (5.87%). In terms of maximum drawdown, FMET dropped -29.22% vs FDIG's -58.32%.

Which ETF is better, FMET or FDIG?

On 3-year performance, FDIG leads with 41.73% vs 17.27% for FMET. Both ETFs have the same 0.39% expense ratio. On volatility, FMET has been the lower-risk option at 5.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FMET or FDIG?

Over the 3-year period, FDIG has performed better with a 41.73% return vs 17.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FMET or FDIG?

FMET and FDIG have the same expense ratio: 0.39% per year.

Which ETF pays a higher dividend yield, FMET or FDIG?

FDIG has the higher dividend yield at 1.00%, compared with 0.50% for FMET.

What is the main difference between FMET and FDIG?

FMET is categorized as Communications Equities, while FDIG is Blockchain.

Which has better risk-adjusted returns?

FMET currently has the higher Sharpe Ratio (1.56 vs 1.21), 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.