FTBD vs. FETH

Last updated Jul 31, 2026

FTBD (Fidelity Tactical Bond ETF) and FETH (Fidelity Ethereum Fund) are both exchange-traded funds - FTBD is a Nontraditional Bonds fund actively managed by Fidelity, while FETH is a Cryptocurrency fund tracking the Fidelity Ethereum Reference Rate Index. FTBD is actively managed, while FETH is passively managed. Over the past year, FTBD returned 3.96% vs -49.01% for FETH. Their 0.16 correlation means their historical movements had little consistent relationship. FTBD charges 0.55%/yr vs 0.25%/yr for FETH.

Performance

FTBD vs. FETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Tactical Bond ETF (FTBD) and Fidelity Ethereum Fund (FETH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTBD achieves a 0.53% return, which is significantly higher than FETH's -35.33% return.

FTBD

• 1D: 0.18%
• 1M: -1.22%
• 6M: 0.01%
• YTD: 0.53%
• 1Y: 3.96%
• 3Y*: 4.75%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.04%

FETH

• 1D: 1.97%
• 1M: 21.66%
• 6M: -31.41%
• YTD: -35.33%
• 1Y: -49.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -25.89%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FETH Fidelity Ethereum Fund	$29.96M	$30.05M	$35.50M
FTBD Fidelity Tactical Bond ETF	$232.55K	$230.39K	$183.28K

FTBD vs. FETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FTBD Fidelity Tactical Bond ETF	0.53%	8.35%	0.45%
FETH Fidelity Ethereum Fund	-35.33%	-11.37%	-4.68%

Correlation

The correlation between FTBD and FETH is 0.19, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.19
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.16

Return for Risk

FTBD vs. FETH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FTBD

FTBD Risk / Return Rank: 38
FTBD Sharpe Ratio Rank: 39
FTBD Sortino Ratio Rank: 37
FTBD Omega Ratio Rank: 35
FTBD Calmar Ratio Rank: 39
FTBD Martin Ratio Rank: 40

FETH

FETH Risk / Return Rank: 4
FETH Sharpe Ratio Rank: 3
FETH Sortino Ratio Rank: 4
FETH Omega Ratio Rank: 4
FETH Calmar Ratio Rank: 3
FETH Martin Ratio Rank: 4

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FTBD vs. FETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Tactical Bond ETF (FTBD) and Fidelity Ethereum Fund (FETH). 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.

	FTBD	FETH	Difference
Sharpe ratio: Return per unit of total volatility	0.93	-0.73	+1.66
Sortino ratio: Return per unit of downside risk	1.35	-0.93	+2.28
Omega ratio: Gain probability vs. loss probability	1.16	0.90	+0.26
Calmar ratio: Return relative to maximum drawdown	1.33	-0.72	+2.06
Martin ratio: Return relative to average drawdown	4.16	-1.08	+5.24

FTBD vs. FETH - Sharpe Ratio Comparison

The current FTBD Sharpe Ratio is 0.93, which is higher than the FETH Sharpe Ratio of -0.73. The chart below compares the historical Sharpe Ratios of FTBD and FETH, 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

FTBD vs. FETH - Drawdown Comparison

The maximum FTBD drawdown since its inception was -6.98%, smaller than the maximum FETH drawdown of -67.94%. Use the drawdown chart below to compare losses from any high point for FTBD and FETH.

Drawdown Indicators

	FTBD	FETH	Difference
Max Drawdown Largest peak-to-trough decline	-6.98%	-67.94%	+60.96%
Max Drawdown (1Y) Largest decline over 1 year	-2.98%	-67.94%	+64.96%
Max Drawdown (3Y) Largest decline over 3 years	-5.34%	—	—
Current Drawdown Current decline from peak	-1.60%	-60.43%	+58.83%
Average Drawdown Average peak-to-trough decline	-1.55%	-35.20%	+33.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	45.29%	-44.34%

Volatility

FTBD vs. FETH - Volatility Comparison

The current volatility for Fidelity Tactical Bond ETF (FTBD) is 1.38%, while Fidelity Ethereum Fund (FETH) has a volatility of 12.62%. This indicates that FTBD experiences smaller price fluctuations and is considered to be less risky than FETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTBD	FETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	12.62%	-11.24%
Volatility (6M) Calculated over the trailing 6-month period	3.44%	46.25%	-42.81%
Volatility (1Y) Calculated over the trailing 1-year period	4.28%	67.19%	-62.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.81%	71.27%	-65.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.81%	71.27%	-65.46%

FTBD vs. FETH - Expense Ratio Comparison

FTBD has a 0.55% expense ratio, which is higher than FETH's 0.25% expense ratio.

Dividends

FTBD vs. FETH - Dividend Comparison

FTBD's dividend yield for the trailing twelve months is around 5.07%, while FETH has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
FETH Fidelity Ethereum Fund	0.00%	0.00%	0.00%	0.00%
FTBD Fidelity Tactical Bond ETF	5.07%	5.04%	4.76%	4.69%

Frequently Asked Questions

Can I hold both FTBD and FETH in my portfolio?

FTBD and FETH have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTBD or FETH?

FETH has higher volatility (12.62%) compared to FTBD (1.38%). In terms of maximum drawdown, FTBD dropped -6.98% vs FETH's -67.94%.

Which ETF is better, FTBD or FETH?

On 1-year performance, FTBD leads with 3.96% vs -49.01% for FETH. On fees, FETH is cheaper at 0.25% per year. On volatility, FTBD has been the lower-risk option at 1.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTBD or FETH?

Over the 1-year period, FTBD has performed better with a 3.96% return vs -49.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTBD or FETH?

FETH is cheaper with a 0.25% expense ratio, compared with 0.55% for FTBD.

Which ETF pays a higher dividend yield, FTBD or FETH?

FTBD has the higher dividend yield at 5.07%, compared with 0.00% for FETH.

What is the main difference between FTBD and FETH?

FTBD is categorized as Nontraditional Bonds, while FETH is Cryptocurrency. Their fees differ too: 0.55% for FTBD and 0.25% for FETH.

Which has better risk-adjusted returns?

FTBD currently has the higher Sharpe Ratio (0.93 vs -0.73), 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.