FMET vs. KBDU

Last updated Jun 24, 2026

FMET (Fidelity Metaverse ETF) and KBDU (KraneShares 2X Long BIDU Daily ETF) are both exchange-traded funds - FMET is a Communications Equities fund actively managed by Fidelity, while KBDU is a Leveraged Equities fund actively managed by KraneShares. Both are actively managed. At a 0.48 correlation, their price movements are largely independent. FMET charges 0.39%/yr vs 1.26%/yr for KBDU.

Performance

FMET vs. KBDU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Metaverse ETF (FMET) and KraneShares 2X Long BIDU Daily ETF (KBDU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMET achieves a 1.20% return, which is significantly higher than KBDU's -40.49% return.

FMET

• 1D: -2.14%
• 1M: -5.16%
• YTD: 1.20%
• 6M: 0.69%
• 1Y: 12.21%
• 3Y*: 13.64%
• 5Y*: —
• 10Y*: —

KBDU

• 1D: -2.84%
• 1M: -27.80%
• YTD: -40.49%
• 6M: -34.08%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FMET vs. KBDU - Yearly Performance Comparison

	2026 (YTD)	2025
FMET Fidelity Metaverse ETF	1.20%	2.57%
KBDU KraneShares 2X Long BIDU Daily ETF	-40.49%	19.79%

Correlation

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

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	0.48

Return for Risk

FMET vs. KBDU — Risk / Return Rank

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

FMET

FMET Risk / Return Rank: 17
FMET Sharpe Ratio Rank: 19
FMET Sortino Ratio Rank: 18
FMET Omega Ratio Rank: 18
FMET Calmar Ratio Rank: 15
FMET Martin Ratio Rank: 15

KBDU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. KBDU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Metaverse ETF (FMET) and KraneShares 2X Long BIDU Daily ETF (KBDU). 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.

	FMET	KBDU	Difference
Sharpe ratio: Return per unit of total volatility	0.59	—	—
Sortino ratio: Return per unit of downside risk	0.92	—	—
Omega ratio: Gain probability vs. loss probability	1.12	—	—
Calmar ratio: Return relative to maximum drawdown	0.53	—	—
Martin ratio: Return relative to average drawdown	1.39	—	—

Drawdowns

FMET vs. KBDU - Drawdown Comparison

The maximum FMET drawdown since its inception was -29.94%, smaller than the maximum KBDU drawdown of -60.20%. Use the drawdown chart below to compare losses from any high point for FMET and KBDU.

Drawdown Indicators

	FMET	KBDU	Difference
Max Drawdown Largest peak-to-trough decline	-29.94%	-60.20%	+30.26%
Max Drawdown (1Y) Largest decline over 1 year	-23.00%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-25.02%	—	—
Current Drawdown Current decline from peak	-9.21%	-60.20%	+50.99%
Average Drawdown Average peak-to-trough decline	-7.71%	-30.99%	+23.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.79%	—	—

Volatility

Volatility by Period

	FMET	KBDU	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.84%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.02%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.96%	102.83%	-81.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.46%	102.83%	-78.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.46%	102.83%	-78.37%

FMET vs. KBDU - Expense Ratio Comparison

FMET has a 0.39% expense ratio, which is lower than KBDU's 1.26% expense ratio.

Dividends

FMET vs. KBDU - Dividend Comparison

FMET's dividend yield for the trailing twelve months is around 0.52%, while KBDU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
FMET Fidelity Metaverse ETF	0.52%	0.81%	0.44%	0.40%	0.18%
KBDU KraneShares 2X Long BIDU Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FMET and KBDU in my portfolio?

FMET and KBDU 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 ETF is better, FMET or KBDU?

On fees, FMET is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FMET or KBDU?

FMET is cheaper with a 0.39% expense ratio, compared with 1.26% for KBDU.

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

FMET has the higher dividend yield at 0.52%, compared with 0.00% for KBDU.

What is the main difference between FMET and KBDU?

FMET is categorized as Communications Equities, while KBDU is Leveraged Equities. They also come from different issuers: Fidelity and KraneShares. Their fees differ too: 0.39% for FMET and 1.26% for KBDU.