OWNB vs. FDIG

Last updated Aug 4, 2026

OWNB (Bitwise Bitcoin Standard Corporations ETF) and FDIG (Fidelity Crypto Industry and Digital Payments ETF) are both Blockchain funds - OWNB tracks the Bitwise Bitcoin Standard Corporations Inde while FDIG tracks the Fidelity Crypto Industry and Digital Payments Index. Both are passively managed. Over the past year, OWNB returned -42.72% vs 21.47% for FDIG. Their correlation of 0.88 means they have usually moved in the same direction. OWNB charges 0.85%/yr vs 0.39%/yr for FDIG.

Performance

OWNB vs. FDIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Bitcoin Standard Corporations ETF (OWNB) and Fidelity Crypto Industry and Digital Payments ETF (FDIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OWNB achieves a -19.79% return, which is significantly lower than FDIG's 9.43% return.

OWNB

• 1D: 2.18%
• 1M: -3.73%
• 6M: -17.40%
• YTD: -19.79%
• 1Y: -42.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -15.34%

FDIG

• 1D: 2.55%
• 1M: 0.77%
• 6M: 8.83%
• YTD: 9.43%
• 1Y: 21.47%
• 3Y*: 26.34%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.86%

*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)
FDIG Fidelity Crypto Industry and Digital Payments ETF	$1.06M	$1.10M	$1.89M
OWNB Bitwise Bitcoin Standard Corporations ETF	$39.86K	$39.06K	$154.61K

OWNB vs. FDIG - Yearly Performance Comparison

	2026 (YTD)	2025
OWNB Bitwise Bitcoin Standard Corporations ETF	-19.79%	-1.19%
FDIG Fidelity Crypto Industry and Digital Payments ETF	9.43%	51.66%

Correlation

The correlation between OWNB and FDIG is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (All Time) Calculated using the full available price history since Mar 11, 2025	0.88

The correlation between OWNB and FDIG has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

OWNB vs. FDIG - Sectors Allocation Comparison

Sectors	OWNB	FDIG
Financial Services	44.1%	47.4%
Technology	30.4%	34.1%
Consumer Cyclical	13.9%	1.7%
Communication Services	6.6%	0.8%
Utilities	4.9%	0.7%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	1.7%
Real Estate	-	-

Return for Risk

OWNB vs. FDIG — Risk / Return Rank

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

OWNB

OWNB Risk / Return Rank: 4
OWNB Sharpe Ratio Rank: 3
OWNB Sortino Ratio Rank: 4
OWNB Omega Ratio Rank: 4
OWNB Calmar Ratio Rank: 3
OWNB Martin Ratio Rank: 4

FDIG

FDIG Risk / Return Rank: 21
FDIG Sharpe Ratio Rank: 21
FDIG Sortino Ratio Rank: 25
FDIG Omega Ratio Rank: 23
FDIG Calmar Ratio Rank: 19
FDIG Martin Ratio Rank: 17

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.

OWNB vs. FDIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin Standard Corporations ETF (OWNB) 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.

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.

	OWNB	FDIG	Difference
Sharpe ratio: Return per unit of total volatility	-0.73	0.42	-1.15
Sortino ratio: Return per unit of downside risk	-0.92	0.93	-1.84
Omega ratio: Gain probability vs. loss probability	0.90	1.11	-0.20
Calmar ratio: Return relative to maximum drawdown	-0.72	0.46	-1.18
Martin ratio: Return relative to average drawdown	-1.08	0.82	-1.90

OWNB vs. FDIG - Sharpe Ratio Comparison

The current OWNB Sharpe Ratio is -0.73, which is lower than the FDIG Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of OWNB and FDIG, 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

OWNB vs. FDIG - Drawdown Comparison

The maximum OWNB drawdown since its inception was -59.47%, roughly equal to the maximum FDIG drawdown of -61.35%. Use the drawdown chart below to compare losses from any high point for OWNB and FDIG.

Drawdown Indicators

	OWNB	FDIG	Difference
Max Drawdown Largest peak-to-trough decline	-59.47%	-61.35%	+1.88%
Max Drawdown (1Y) Largest decline over 1 year	-59.47%	-46.69%	-12.78%
Max Drawdown (3Y) Largest decline over 3 years	—	-49.66%	—
Current Drawdown Current decline from peak	-54.80%	-27.52%	-27.28%
Average Drawdown Average peak-to-trough decline	-27.95%	-27.49%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.44%	26.28%	+13.16%

Volatility

OWNB vs. FDIG - Volatility Comparison

Bitwise Bitcoin Standard Corporations ETF (OWNB) has a higher volatility of 16.07% compared to Fidelity Crypto Industry and Digital Payments ETF (FDIG) at 14.36%. This indicates that OWNB's price experiences larger fluctuations and is considered to be riskier than FDIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OWNB	FDIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.07%	14.36%	+1.71%
Volatility (6M) Calculated over the trailing 6-month period	43.88%	37.13%	+6.75%
Volatility (1Y) Calculated over the trailing 1-year period	59.12%	51.07%	+8.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.02%	60.57%	+1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.02%	60.57%	+1.45%

OWNB vs. FDIG - Expense Ratio Comparison

OWNB has a 0.85% expense ratio, which is higher than FDIG's 0.39% expense ratio.

Dividends

OWNB vs. FDIG - Dividend Comparison

OWNB's dividend yield for the trailing twelve months is around 1.09%, less than FDIG's 1.49% yield.

Position	TTM	2025	2024	2023
FDIG Fidelity Crypto Industry and Digital Payments ETF	1.49%	1.14%	1.17%	0.18%
OWNB Bitwise Bitcoin Standard Corporations ETF	1.09%	0.87%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OWNB and FDIG in my portfolio?

OWNB and FDIG have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OWNB or FDIG?

OWNB has higher volatility (16.07%) compared to FDIG (14.36%). In terms of maximum drawdown, OWNB dropped -59.47% vs FDIG's -61.35%.

Which ETF is better, OWNB or FDIG?

On 1-year performance, FDIG leads with 21.47% vs -42.72% for OWNB. On fees, FDIG is cheaper at 0.39% per year. On volatility, FDIG has been the lower-risk option at 14.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OWNB or FDIG?

Over the 1-year period, FDIG has performed better with a 21.47% return vs -42.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OWNB or FDIG?

FDIG is cheaper with a 0.39% expense ratio, compared with 0.85% for OWNB.

Which ETF pays a higher dividend yield, OWNB or FDIG?

FDIG has the higher dividend yield at 1.49%, compared with 1.09% for OWNB.

What is the main difference between OWNB and FDIG?

OWNB tracks Bitwise Bitcoin Standard Corporations Inde, while FDIG tracks Fidelity Crypto Industry and Digital Payments Index. They also come from different issuers: Bitwise and Fidelity. Their fees differ too: 0.85% for OWNB and 0.39% for FDIG.

Which has better risk-adjusted returns?

FDIG currently has the higher Sharpe Ratio (0.42 vs -0.73), 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.