FYEE vs. FBTC

Last updated Jun 4, 2026

FYEE (Fidelity Yield Enhanced Equity ETF) and FBTC (Fidelity Wise Origin Bitcoin Fund) are both exchange-traded funds - FYEE is a Derivative Income fund actively managed by Fidelity, while FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. FYEE is actively managed, while FBTC is passively managed. Over the past year, FYEE returned 24.64% vs -38.65% for FBTC. At a 0.41 correlation, their price movements are largely independent. FYEE charges 0.28%/yr vs 0.25%/yr for FBTC.

Performance

FYEE vs. FBTC - Performance Comparison

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

Returns By Period

In the year-to-date period, FYEE achieves a 7.03% return, which is significantly higher than FBTC's -25.34% return.

FYEE

• 1D: -0.30%
• 1M: 3.22%
• YTD: 7.03%
• 6M: 8.52%
• 1Y: 24.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FBTC

• 1D: -2.65%
• 1M: -18.37%
• YTD: -25.34%
• 6M: -29.78%
• 1Y: -38.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FYEE vs. FBTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FYEE Fidelity Yield Enhanced Equity ETF	7.03%	15.76%	13.20%
FBTC Fidelity Wise Origin Bitcoin Fund	-25.34%	-6.56%	32.24%

Correlation

The correlation between FYEE and FBTC is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (All Time) Calculated using the full available price history since Apr 12, 2024	0.41

Return for Risk

FYEE vs. FBTC — Risk / Return Rank

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

FYEE

FYEE Risk / Return Rank: 77
FYEE Sharpe Ratio Rank: 78
FYEE Sortino Ratio Rank: 76
FYEE Omega Ratio Rank: 84
FYEE Calmar Ratio Rank: 66
FYEE Martin Ratio Rank: 83

FBTC

FBTC Risk / Return Rank: 2
FBTC Sharpe Ratio Rank: 2
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.

FYEE vs. FBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Yield Enhanced Equity ETF (FYEE) 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.

	FYEE	FBTC	Difference
Sharpe ratio: Return per unit of total volatility	2.57	-0.89	+3.46
Sortino ratio: Return per unit of downside risk	3.47	-1.23	+4.70
Omega ratio: Gain probability vs. loss probability	1.52	0.86	+0.66
Calmar ratio: Return relative to maximum drawdown	3.35	-0.79	+4.14
Martin ratio: Return relative to average drawdown	17.14	-1.36	+18.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FYEE vs. FBTC - Sharpe Ratio Comparison

The current FYEE Sharpe Ratio is 2.57, which is higher than the FBTC Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of FYEE and FBTC, 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

	FYEE	FBTC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	-0.89	+3.46
Sharpe Ratio (All Time) Calculated using the full available price history	1.24	0.30	+0.95

Drawdowns

FYEE vs. FBTC - Drawdown Comparison

The maximum FYEE drawdown since its inception was -18.79%, smaller than the maximum FBTC drawdown of -49.33%. Use the drawdown chart below to compare losses from any high point for FYEE and FBTC.

Drawdown Indicators

	FYEE	FBTC	Difference
Max Drawdown Largest peak-to-trough decline	-18.79%	-49.33%	+30.54%
Max Drawdown (1Y) Largest decline over 1 year	-7.39%	-49.33%	+41.94%
Current Drawdown Current decline from peak	-0.30%	-48.00%	+47.70%
Average Drawdown Average peak-to-trough decline	-2.25%	-16.01%	+13.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	28.41%	-26.97%

Volatility

FYEE vs. FBTC - Volatility Comparison

The current volatility for Fidelity Yield Enhanced Equity ETF (FYEE) is 1.43%, while Fidelity Wise Origin Bitcoin Fund (FBTC) has a volatility of 9.39%. This indicates that FYEE experiences smaller price fluctuations and is considered to be less risky than FBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FYEE	FBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.43%	9.39%	-7.96%
Volatility (6M) Calculated over the trailing 6-month period	7.26%	34.38%	-27.12%
Volatility (1Y) Calculated over the trailing 1-year period	9.64%	43.61%	-33.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.84%	50.13%	-36.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.84%	50.13%	-36.29%

FYEE vs. FBTC - Expense Ratio Comparison

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

Dividends

FYEE vs. FBTC - Dividend Comparison

FYEE's dividend yield for the trailing twelve months is around 7.57%, while FBTC has not paid dividends to shareholders.

Position	TTM	2025	2024
FBTC Fidelity Wise Origin Bitcoin Fund	0.00%	0.00%	0.00%
FYEE Fidelity Yield Enhanced Equity ETF	7.57%	7.08%	5.45%

Frequently Asked Questions

Can I hold both FYEE and FBTC in my portfolio?

FYEE and FBTC have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FYEE or FBTC?

FBTC has higher volatility (9.39%) compared to FYEE (1.43%). In terms of maximum drawdown, FYEE dropped -18.79% vs FBTC's -49.33%.

Which ETF is better, FYEE or FBTC?

On 1-year performance, FYEE leads with 24.64% vs -38.65% for FBTC. On fees, FBTC is cheaper at 0.25% per year. On volatility, FYEE has been the lower-risk option at 1.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FYEE or FBTC?

Over the 1-year period, FYEE has performed better with a 24.64% return vs -38.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FYEE or FBTC?

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

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

FYEE has the higher dividend yield at 7.57%, compared with 0.00% for FBTC.

What is the main difference between FYEE and FBTC?

FYEE is categorized as Derivative Income, while FBTC is Cryptocurrency. Their fees differ too: 0.28% for FYEE and 0.25% for FBTC.

Which has better risk-adjusted returns?

FYEE currently has the higher Sharpe Ratio (2.57 vs -0.89), 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.