IMBBY vs. FBTC

Last updated Aug 1, 2026

IMBBY (Imperial Brands PLC) is a stock, while FBTC (Fidelity Wise Origin Bitcoin Fund) is Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. Over the past year, IMBBY returned 1.55% vs -44.55% for FBTC. Their 0.05 correlation means their historical movements had little consistent relationship.

Performance

IMBBY vs. FBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Imperial Brands PLC (IMBBY) 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, IMBBY achieves a -7.56% return, which is significantly higher than FBTC's -28.23% return.

IMBBY

• 1D: -1.64%
• 1M: -0.53%
• 6M: -7.82%
• YTD: -7.56%
• 1Y: 1.55%
• 3Y*: 24.35%
• 5Y*: 19.95%
• 10Y*: 3.72%
• ALL TIME*: 4.01%

FBTC

• 1D: -2.93%
• 1M: 2.22%
• 6M: -25.08%
• YTD: -28.23%
• 1Y: -44.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.93%

*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)
FBTC Fidelity Wise Origin Bitcoin Fund	$183.96M	$200.45M	$239.07M
IMBBY Imperial Brands PLC	$10.51M	$9.43M	$9.46M

IMBBY vs. FBTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IMBBY Imperial Brands PLC	-7.56%	38.90%	42.81%
FBTC Fidelity Wise Origin Bitcoin Fund	-28.23%	-6.56%	94.28%

Correlation

The correlation between IMBBY and FBTC is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.04
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.05

Return for Risk

IMBBY vs. FBTC — Risk / Return Rank

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

IMBBY

IMBBY Risk / Return Rank: 44
IMBBY Sharpe Ratio Rank: 48
IMBBY Sortino Ratio Rank: 40
IMBBY Omega Ratio Rank: 40
IMBBY Calmar Ratio Rank: 47
IMBBY Martin Ratio Rank: 47

FBTC

FBTC Risk / Return Rank: 1
FBTC Sharpe Ratio Rank: 1
FBTC Sortino Ratio Rank: 1
FBTC Omega Ratio Rank: 2
FBTC Calmar Ratio Rank: 2
FBTC Martin Ratio Rank: 1

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.

IMBBY vs. FBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Imperial Brands PLC (IMBBY) 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.

	IMBBY	FBTC	Difference
Sharpe ratio: Return per unit of total volatility	0.09	-1.05	+1.13
Sortino ratio: Return per unit of downside risk	0.28	-1.58	+1.86
Omega ratio: Gain probability vs. loss probability	1.03	0.83	+0.21
Calmar ratio: Return relative to maximum drawdown	0.10	-0.87	+0.97
Martin ratio: Return relative to average drawdown	0.20	-1.34	+1.53

IMBBY vs. FBTC - Sharpe Ratio Comparison

The current IMBBY Sharpe Ratio is 0.09, which is higher than the FBTC Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of IMBBY 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.

Drawdowns

IMBBY vs. FBTC - Drawdown Comparison

The maximum IMBBY drawdown since its inception was -65.19%, which is greater than FBTC's maximum drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for IMBBY and FBTC.

Drawdown Indicators

	IMBBY	FBTC	Difference
Max Drawdown Largest peak-to-trough decline	-65.19%	-53.35%	-11.84%
Max Drawdown (1Y) Largest decline over 1 year	-19.82%	-53.35%	+33.53%
Max Drawdown (3Y) Largest decline over 3 years	-19.82%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.66%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-64.98%	—	—
Current Drawdown Current decline from peak	-14.74%	-50.01%	+35.27%
Average Drawdown Average peak-to-trough decline	-26.05%	-18.17%	-7.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.62%	34.63%	-25.01%

Volatility

IMBBY vs. FBTC - Volatility Comparison

Imperial Brands PLC (IMBBY) and Fidelity Wise Origin Bitcoin Fund (FBTC) have volatilities of 9.13% and 9.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMBBY	FBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.13%	9.07%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	17.94%	33.70%	-15.76%
Volatility (1Y) Calculated over the trailing 1-year period	21.67%	44.36%	-22.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.22%	49.47%	-28.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.20%	49.47%	-25.27%

Dividends

IMBBY vs. FBTC - Dividend Comparison

IMBBY's dividend yield for the trailing twelve months is around 5.71%, while FBTC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FBTC Fidelity Wise Origin Bitcoin Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IMBBY Imperial Brands PLC	5.71%	5.37%	6.04%	7.62%	7.03%	8.58%	9.92%	10.41%	7.93%	5.03%	4.54%

Frequently Asked Questions

Can I hold both IMBBY and FBTC in my portfolio?

IMBBY and FBTC have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMBBY or FBTC?

IMBBY has higher volatility (9.13%) compared to FBTC (9.07%). In terms of maximum drawdown, IMBBY dropped -65.19% vs FBTC's -53.35%.

Which has better risk-adjusted returns?

IMBBY currently has the higher Sharpe Ratio (0.09 vs -1.05), 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.