LBIT.TO vs. FBTC.TO
LBIT.TO (Evolve Levered Bitcoin ETF) and FBTC.TO (Fidelity Advantage Bitcoin ETF) are both exchange-traded funds - LBIT.TO is a Leveraged Cryptocurrency fund actively managed by Evolve, while FBTC.TO is a Cryptocurrency fund actively managed by Fidelity. Both are actively managed. Over the past year, LBIT.TO returned -49.32% vs -38.60% for FBTC.TO. Their correlation of 0.84 suggests significant overlap in exposure. LBIT.TO charges 0.75%/yr vs 0.40%/yr for FBTC.TO.
Performance
LBIT.TO vs. FBTC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, LBIT.TO achieves a -33.47% return, which is significantly lower than FBTC.TO's -26.46% return.
LBIT.TO
- 1D
- -4.93%
- 1M
- -24.38%
- YTD
- -33.47%
- 6M
- -38.37%
- 1Y
- -49.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FBTC.TO
- 1D
- -2.74%
- 1M
- -20.46%
- YTD
- -26.46%
- 6M
- -32.03%
- 1Y
- -38.60%
- 3Y*
- 35.95%
- 5Y*
- —
- 10Y*
- —
LBIT.TO vs. FBTC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
LBIT.TO Evolve Levered Bitcoin ETF | -33.47% | -1.29% |
FBTC.TO Fidelity Advantage Bitcoin ETF | -26.46% | 1.77% |
Correlation
The correlation between LBIT.TO and FBTC.TO is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2025 | 0.84 |
The correlation between LBIT.TO and FBTC.TO has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.
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Return for Risk
LBIT.TO vs. FBTC.TO — Risk / Return Rank
LBIT.TO
FBTC.TO
LBIT.TO vs. FBTC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Evolve Levered Bitcoin ETF (LBIT.TO) and Fidelity Advantage Bitcoin ETF (FBTC.TO). 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.
| LBIT.TO | FBTC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.86 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | -0.77 | -0.07 |
| Martin ratioReturn relative to average drawdown | -1.41 | -1.32 | -0.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LBIT.TO | FBTC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.94 | -0.90 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.57 | 0.07 | -0.64 |
Drawdowns
LBIT.TO vs. FBTC.TO - Drawdown Comparison
The maximum LBIT.TO drawdown since its inception was -58.79%, smaller than the maximum FBTC.TO drawdown of -70.77%. Use the drawdown chart below to compare losses from any high point for LBIT.TO and FBTC.TO.
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Drawdown Indicators
| LBIT.TO | FBTC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.79% | -70.77% | +11.98% |
Max Drawdown (1Y)Largest decline over 1 year | -58.79% | -50.22% | -8.57% |
Max Drawdown (3Y)Largest decline over 3 years | — | -50.22% | — |
Current DrawdownCurrent decline from peak | -58.79% | -49.79% | -9.00% |
Average DrawdownAverage peak-to-trough decline | -24.37% | -30.95% | +6.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.10% | 29.35% | +5.75% |
Volatility
LBIT.TO vs. FBTC.TO - Volatility Comparison
Evolve Levered Bitcoin ETF (LBIT.TO) has a higher volatility of 11.90% compared to Fidelity Advantage Bitcoin ETF (FBTC.TO) at 9.51%. This indicates that LBIT.TO's price experiences larger fluctuations and is considered to be riskier than FBTC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LBIT.TO | FBTC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.90% | 9.51% | +2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 41.19% | 33.11% | +8.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.65% | 42.86% | +9.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.55% | 52.36% | -0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.55% | 52.36% | -0.81% |
LBIT.TO vs. FBTC.TO - Expense Ratio Comparison
LBIT.TO has a 0.75% expense ratio, which is higher than FBTC.TO's 0.40% expense ratio.
Dividends
LBIT.TO vs. FBTC.TO - Dividend Comparison
Neither LBIT.TO nor FBTC.TO has paid dividends to shareholders.
Frequently Asked Questions
LBIT.TO and FBTC.TO have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FBTC.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FBTC.TO is cheaper with a 0.40% expense ratio, compared with 0.75% for LBIT.TO.
LBIT.TO is categorized as Leveraged Cryptocurrency, while FBTC.TO is Cryptocurrency. They also come from different issuers: Evolve and Fidelity. Their fees differ too: 0.75% for LBIT.TO and 0.40% for FBTC.TO.
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