FMET vs. PYPL

Last updated Jun 3, 2026

FMET (Fidelity Metaverse ETF) is Communications Equities fund actively managed by Fidelity, while PYPL (PayPal Holdings, Inc.) is a stock. Over the past 3 years, FMET returned 17.27%/yr vs -11.21%/yr for PYPL. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

FMET vs. PYPL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Metaverse ETF (FMET) and PayPal Holdings, Inc. (PYPL). 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 higher than PYPL's -23.49% return.

FMET

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

PYPL

• 1D: -1.46%
• 1M: -11.72%
• YTD: -23.49%
• 6M: -28.99%
• 1Y: -36.88%
• 3Y*: -11.21%
• 5Y*: -29.54%
• 10Y*: 1.56%

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

FMET vs. PYPL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FMET Fidelity Metaverse ETF	11.46%	21.93%	6.76%	39.18%	-16.56%
PYPL PayPal Holdings, Inc.	-23.49%	-31.44%	38.98%	-13.77%	-20.34%

Correlation

The correlation between FMET and PYPL is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (All Time) Calculated using the full available price history since Apr 22, 2022	0.55

The correlation between FMET and PYPL shifts across timeframes, from 0.44 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FMET vs. PYPL — 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

PYPL

PYPL Risk / Return Rank: 9
PYPL Sharpe Ratio Rank: 5
PYPL Sortino Ratio Rank: 8
PYPL Omega Ratio Rank: 7
PYPL Calmar Ratio Rank: 13
PYPL Martin Ratio Rank: 9

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. PYPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Metaverse ETF (FMET) and PayPal Holdings, Inc. (PYPL). 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	PYPL	Difference
Sharpe ratio Return per unit of total volatility	1.56	-0.95	+2.52
Sortino ratio Return per unit of downside risk	2.16	-1.18	+3.35
Omega ratio Gain probability vs. loss probability	1.28	0.83	+0.45
Calmar ratio Return relative to maximum drawdown	1.39	-0.73	+2.11
Martin ratio Return relative to average drawdown	3.70	-1.33	+5.02
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. PYPL - Sharpe Ratio Comparison

The current FMET Sharpe Ratio is 1.56, which is higher than the PYPL Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of FMET and PYPL, 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	PYPL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	-0.95	+2.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.71	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.04	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.02	+0.54

Drawdowns

FMET vs. PYPL - Drawdown Comparison

The maximum FMET drawdown since its inception was -29.22%, smaller than the maximum PYPL drawdown of -87.30%. Use the drawdown chart below to compare losses from any high point for FMET and PYPL.

Drawdown Indicators

	FMET	PYPL	Difference
Max Drawdown Largest peak-to-trough decline	-29.22%	-87.30%	+58.08%
Max Drawdown (1Y) Largest decline over 1 year	-23.00%	-49.92%	+26.92%
Max Drawdown (3Y) Largest decline over 3 years	-25.02%	-57.34%	+32.32%
Max Drawdown (5Y) Largest decline over 5 years	—	-87.30%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-87.30%	—
Current Drawdown Current decline from peak	0.00%	-85.49%	+85.49%
Average Drawdown Average peak-to-trough decline	-7.48%	-35.61%	+28.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.63%	27.38%	-18.75%

Volatility

FMET vs. PYPL - Volatility Comparison

The current volatility for Fidelity Metaverse ETF (FMET) is 5.87%, while PayPal Holdings, Inc. (PYPL) has a volatility of 8.86%. This indicates that FMET experiences smaller price fluctuations and is considered to be less risky than PYPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMET	PYPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.87%	8.86%	-2.99%
Volatility (6M) Calculated over the trailing 6-month period	14.67%	31.36%	-16.69%
Volatility (1Y) Calculated over the trailing 1-year period	19.48%	38.82%	-19.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.20%	42.04%	-17.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.20%	38.75%	-14.55%

Dividends

FMET vs. PYPL - Dividend Comparison

FMET's dividend yield for the trailing twelve months is around 0.50%, less than PYPL's 0.63% yield.

Position	TTM	2025	2024	2023	2022
FMET Fidelity Metaverse ETF	0.50%	0.81%	0.44%	0.40%	0.18%
PYPL PayPal Holdings, Inc.	0.63%	0.24%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FMET and PYPL in my portfolio?

FMET and PYPL have a correlation of 0.44, 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 PYPL?

PYPL has higher volatility (8.86%) compared to FMET (5.87%). In terms of maximum drawdown, FMET dropped -29.22% vs PYPL's -87.30%.

Which has better risk-adjusted returns?

FMET currently has the higher Sharpe Ratio (1.56 vs -0.95), 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.