LEGR vs. FBTC
LEGR (First Trust Indxx Innovative Transaction & Process ETF) and FBTC (Fidelity Wise Origin Bitcoin Fund) are both exchange-traded funds - LEGR is a Blockchain fund tracking the Indxx Blockchain Index, while FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. Both are passively managed. Over the past year, LEGR returned 27.63% vs -44.18% for FBTC. Their 0.40 correlation means their historical movements had little consistent relationship. LEGR charges 0.65%/yr vs 0.25%/yr for FBTC.
Performance
LEGR vs. FBTC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LEGR achieves a 13.61% return, which is significantly higher than FBTC's -26.68% return.
LEGR
- 1D
- 1.40%
- 1M
- 4.54%
- 6M
- 9.04%
- YTD
- 13.61%
- 1Y
- 27.63%
- 3Y*
- 22.83%
- 5Y*
- 11.95%
- 10Y*
- —
- ALL TIME*
- 12.01%
FBTC
- 1D
- 0.54%
- 1M
- 4.43%
- 6M
- -16.06%
- YTD
- -26.68%
- 1Y
- -44.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $183.38M | $199.65M | $236.97M | |
| $175.77K | $130.41K | $172.51K |
LEGR vs. FBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
LEGR First Trust Indxx Innovative Transaction & Process ETF | 13.61% | 30.83% | 17.83% |
FBTC Fidelity Wise Origin Bitcoin Fund | -26.68% | -6.56% | 94.28% |
Correlation
The correlation between LEGR and FBTC is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.40 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LEGR vs. FBTC — Risk / Return Rank
LEGR
FBTC
LEGR vs. FBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Innovative Transaction & Process ETF (LEGR) 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.
| LEGR | FBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.88 | ||
| Sortino ratioReturn per unit of downside risk | +4.04 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 0.84 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | -0.83 | +3.50 |
| Martin ratioReturn relative to average drawdown | 8.74 | -1.27 | +10.01 |
Loading charts...
Drawdowns
LEGR vs. FBTC - Drawdown Comparison
The maximum LEGR drawdown since its inception was -36.12%, smaller than the maximum FBTC drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for LEGR and FBTC.
Loading charts...
Drawdown Indicators
| LEGR | FBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.12% | -53.35% | +17.23% |
Max Drawdown (1Y)Largest decline over 1 year | -10.40% | -53.35% | +42.95% |
Max Drawdown (3Y)Largest decline over 3 years | -14.25% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -31.45% | — | — |
Current DrawdownCurrent decline from peak | -0.42% | -48.93% | +48.51% |
Average DrawdownAverage peak-to-trough decline | -6.55% | -18.27% | +11.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 34.90% | -31.73% |
Volatility
LEGR vs. FBTC - Volatility Comparison
The current volatility for First Trust Indxx Innovative Transaction & Process ETF (LEGR) is 4.42%, while Fidelity Wise Origin Bitcoin Fund (FBTC) has a volatility of 8.19%. This indicates that LEGR 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.
Loading charts...
Volatility by Period
| LEGR | FBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 8.19% | -3.77% |
Volatility (6M)Calculated over the trailing 6-month period | 12.55% | 33.00% | -20.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.80% | 44.30% | -29.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.09% | 49.40% | -32.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.26% | 49.40% | -29.14% |
LEGR vs. FBTC - Expense Ratio Comparison
LEGR has a 0.65% expense ratio, which is higher than FBTC's 0.25% expense ratio.
Dividends
LEGR vs. FBTC - Dividend Comparison
LEGR's dividend yield for the trailing twelve months is around 1.76%, while FBTC has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LEGR First Trust Indxx Innovative Transaction & Process ETF | 1.76% | 1.84% | 2.40% | 2.56% | 2.64% | 1.80% | 0.95% | 2.04% | 1.30% |
Frequently Asked Questions
LEGR and FBTC have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBTC has higher volatility (8.19%) compared to LEGR (4.42%). In terms of maximum drawdown, LEGR dropped -36.12% vs FBTC's -53.35%.
On 1-year performance, LEGR leads with 27.63% vs -44.18% for FBTC. On fees, FBTC is cheaper at 0.25% per year. On volatility, LEGR has been the lower-risk option at 4.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, LEGR has performed better with a 27.63% return vs -44.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FBTC is cheaper with a 0.25% expense ratio, compared with 0.65% for LEGR.
LEGR has the higher dividend yield at 1.76%, compared with 0.00% for FBTC.
LEGR is categorized as Blockchain, while FBTC is Cryptocurrency. LEGR tracks Indxx Blockchain Index, while FBTC tracks Fidelity Bitcoin Reference Rate. They also come from different issuers: First Trust and Fidelity. Their fees differ too: 0.65% for LEGR and 0.25% for FBTC.
LEGR currently has the higher Sharpe Ratio (1.88 vs -1.00), 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.
Find the right allocation for LEGR and FBTC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer