OBTC vs. FDIG
OBTC (Osprey Bitcoin Trust) and FDIG (Fidelity Crypto Industry and Digital Payments ETF) are both exchange-traded funds - OBTC is a Cryptocurrency fund tracking the Bitcoin (BTC), while FDIG is a Blockchain fund tracking the Fidelity Crypto Industry and Digital Payments Index. Both are passively managed. Over the past 3 years, OBTC returned 55.06%/yr vs 36.59%/yr for FDIG. A 0.59 correlation means they provide meaningful diversification when combined. OBTC charges 0.49%/yr vs 0.39%/yr for FDIG.
Performance
OBTC vs. FDIG - Performance Comparison
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Returns By Period
In the year-to-date period, OBTC achieves a -31.16% return, which is significantly lower than FDIG's 7.81% return.
OBTC
- 1D
- -5.16%
- 1M
- -26.03%
- YTD
- -31.16%
- 6M
- -29.55%
- 1Y
- -32.02%
- 3Y*
- 55.06%
- 5Y*
- 6.73%
- 10Y*
- —
FDIG
- 1D
- -9.21%
- 1M
- -9.59%
- YTD
- 7.81%
- 6M
- -4.48%
- 1Y
- 34.42%
- 3Y*
- 36.59%
- 5Y*
- —
- 10Y*
- —
OBTC vs. FDIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OBTC Osprey Bitcoin Trust | -31.16% | -1.87% | 130.89% | 277.81% | -70.56% |
FDIG Fidelity Crypto Industry and Digital Payments ETF | 7.81% | 19.92% | 18.41% | 166.00% | -56.18% |
Correlation
The correlation between OBTC and FDIG is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Apr 22, 2022 | 0.59 |
The correlation between OBTC and FDIG has been stable across timeframes, ranging from 0.59 to 0.67 - a consistent structural relationship.
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Return for Risk
OBTC vs. FDIG — Risk / Return Rank
OBTC
FDIG
OBTC vs. FDIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Osprey Bitcoin Trust (OBTC) and Fidelity Crypto Industry and Digital Payments ETF (FDIG). 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.
| OBTC | FDIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -2.12 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.14 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 0.74 | -1.41 |
| Martin ratioReturn relative to average drawdown | -1.26 | 1.43 | -2.69 |
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
| OBTC | FDIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.72 | 0.69 | -1.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.23 | 0.25 | -0.48 |
Drawdowns
OBTC vs. FDIG - Drawdown Comparison
The maximum OBTC drawdown since its inception was -94.50%, which is greater than FDIG's maximum drawdown of -58.32%. Use the drawdown chart below to compare losses from any high point for OBTC and FDIG.
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Drawdown Indicators
| OBTC | FDIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.50% | -58.32% | -36.18% |
Max Drawdown (1Y)Largest decline over 1 year | -48.14% | -46.69% | -1.45% |
Max Drawdown (3Y)Largest decline over 3 years | -48.14% | -49.66% | +1.52% |
Max Drawdown (5Y)Largest decline over 5 years | -83.76% | — | — |
Current DrawdownCurrent decline from peak | -65.62% | -28.59% | -37.03% |
Average DrawdownAverage peak-to-trough decline | -69.62% | -26.16% | -43.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.40% | 24.21% | +1.19% |
Volatility
OBTC vs. FDIG - Volatility Comparison
The current volatility for Osprey Bitcoin Trust (OBTC) is 9.93%, while Fidelity Crypto Industry and Digital Payments ETF (FDIG) has a volatility of 14.66%. This indicates that OBTC experiences smaller price fluctuations and is considered to be less risky than FDIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OBTC | FDIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.93% | 14.66% | -4.73% |
Volatility (6M)Calculated over the trailing 6-month period | 34.48% | 36.99% | -2.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.58% | 50.29% | -5.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.14% | 60.93% | -2.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.55% | 60.93% | +10.62% |
OBTC vs. FDIG - Expense Ratio Comparison
OBTC has a 0.49% expense ratio, which is higher than FDIG's 0.39% expense ratio.
Dividends
OBTC vs. FDIG - Dividend Comparison
OBTC has not paid dividends to shareholders, while FDIG's dividend yield for the trailing twelve months is around 1.14%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FDIG Fidelity Crypto Industry and Digital Payments ETF | 1.14% | 1.14% | 1.17% | 0.18% |
OBTC Osprey Bitcoin Trust | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OBTC and FDIG have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDIG has higher volatility (14.66%) compared to OBTC (9.93%). In terms of maximum drawdown, OBTC dropped -94.50% vs FDIG's -58.32%.
On 3-year performance, OBTC leads with 55.06% vs 36.59% for FDIG. On fees, FDIG is cheaper at 0.39% per year. On volatility, OBTC has been the lower-risk option at 9.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, OBTC has performed better with a 55.06% return vs 36.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDIG is cheaper with a 0.39% expense ratio, compared with 0.49% for OBTC.
FDIG has the higher dividend yield at 1.14%, compared with 0.00% for OBTC.
OBTC is categorized as Cryptocurrency, while FDIG is Blockchain. OBTC tracks Bitcoin (BTC), while FDIG tracks Fidelity Crypto Industry and Digital Payments Index. They also come from different issuers: Osprey Funds and Fidelity. Their fees differ too: 0.49% for OBTC and 0.39% for FDIG.
FDIG currently has the higher Sharpe Ratio (0.69 vs -0.72), 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.
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