FSEG vs. FBTC

Last updated Jul 19, 2026

FSEG (Fidelity Enhanced Small Cap Growth ETF) and FBTC (Fidelity Wise Origin Bitcoin Fund) are both exchange-traded funds - FSEG is a Small Cap Growth Equities fund actively managed by Fidelity, while FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. FSEG is actively managed, while FBTC is passively managed. At a 0.36 correlation, their price movements are largely independent. FSEG charges 0.28%/yr vs 0.25%/yr for FBTC.

Performance

FSEG vs. FBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Small Cap Growth ETF (FSEG) and Fidelity Wise Origin Bitcoin Fund (FBTC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FSEG

• 1D: -0.06%
• 1M: -1.51%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FBTC

• 1D: -0.20%
• 1M: 1.92%
• 6M: -32.93%
• YTD: -26.77%
• 1Y: -45.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FSEG vs. FBTC - Yearly Performance Comparison

	2026 (YTD)
FSEG Fidelity Enhanced Small Cap Growth ETF	8.68%
FBTC Fidelity Wise Origin Bitcoin Fund	-15.05%

Correlation

The correlation between FSEG and FBTC is 0.36, 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 Apr 30, 2026	0.36

Return for Risk

FSEG vs. FBTC — Risk / Return Rank

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

FSEG

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

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.

FSEG vs. FBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Small Cap Growth ETF (FSEG) 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.

	FSEG	FBTC	Difference
Sharpe ratio: Return per unit of total volatility	—	-1.05	—
Sortino ratio: Return per unit of downside risk	—	-1.59	—
Omega ratio: Gain probability vs. loss probability	—	0.82	—
Calmar ratio: Return relative to maximum drawdown	—	-0.87	—
Martin ratio: Return relative to average drawdown	—	-1.39	—

Drawdowns

FSEG vs. FBTC - Drawdown Comparison

The maximum FSEG drawdown since its inception was -4.70%, smaller than the maximum FBTC drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for FSEG and FBTC.

Drawdown Indicators

	FSEG	FBTC	Difference
Max Drawdown Largest peak-to-trough decline	-4.70%	-53.35%	+48.65%
Max Drawdown (1Y) Largest decline over 1 year	—	-53.35%	—
Current Drawdown Current decline from peak	-4.70%	-48.99%	+44.29%
Average Drawdown Average peak-to-trough decline	-1.51%	-17.69%	+16.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	33.25%	—

Volatility

Volatility by Period

	FSEG	FBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.69%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.55%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.70%	44.19%	-22.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.70%	49.74%	-28.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.70%	49.74%	-28.04%

FSEG vs. FBTC - Expense Ratio Comparison

FSEG has a 0.28% expense ratio, which is higher than FBTC's 0.25% expense ratio.

Dividends

FSEG vs. FBTC - Dividend Comparison

FSEG's dividend yield for the trailing twelve months is around 0.03%, while FBTC has not paid dividends to shareholders.

Position	TTM
FBTC Fidelity Wise Origin Bitcoin Fund	0.00%
FSEG Fidelity Enhanced Small Cap Growth ETF	0.03%

Frequently Asked Questions

Can I hold both FSEG and FBTC in my portfolio?

FSEG and FBTC have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FSEG or FBTC?

On fees, FBTC is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FSEG or FBTC?

FBTC is cheaper with a 0.25% expense ratio, compared with 0.28% for FSEG.

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

FSEG has the higher dividend yield at 0.03%, compared with 0.00% for FBTC.

What is the main difference between FSEG and FBTC?

FSEG is categorized as Small Cap Growth Equities, while FBTC is Cryptocurrency. Their fees differ too: 0.28% for FSEG and 0.25% for FBTC.