QBF vs. FDIG
QBF (Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly) and FDIG (Fidelity Crypto Industry and Digital Payments ETF) are both Blockchain funds. QBF is actively managed, while FDIG is passively managed. Over the past year, QBF returned -42.28% vs 18.84% for FDIG. Their 0.66 correlation means they have sometimes moved together and sometimes differently. QBF charges 0.79%/yr vs 0.39%/yr for FDIG.
Performance
QBF vs. FDIG - Performance Comparison
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Returns By Period
In the year-to-date period, QBF achieves a -27.43% return, which is significantly lower than FDIG's 10.72% return.
QBF
- 1D
- 0.45%
- 1M
- 3.01%
- 6M
- -19.69%
- YTD
- -27.43%
- 1Y
- -42.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -27.57%
FDIG
- 1D
- 1.18%
- 1M
- 1.96%
- 6M
- 12.26%
- YTD
- 10.72%
- 1Y
- 18.84%
- 3Y*
- 26.83%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.02M | $1.11M | $1.86M | |
| $61.34K | $84.88K | $133.05K |
QBF vs. FDIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QBF Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly | -27.43% | -14.76% |
FDIG Fidelity Crypto Industry and Digital Payments ETF | 10.72% | 13.62% |
Correlation
The correlation between QBF and FDIG is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025 | 0.66 |
The correlation between QBF and FDIG has been stable across timeframes, ranging from 0.66 to 0.66 - a consistent structural relationship.
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Return for Risk
QBF vs. FDIG — Risk / Return Rank
QBF
FDIG
QBF vs. FDIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly (QBF) 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.
| QBF | FDIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.93 | ||
| Sortino ratioReturn per unit of downside risk | -3.29 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.10 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 0.41 | -1.28 |
| Martin ratioReturn relative to average drawdown | -1.39 | 0.72 | -2.10 |
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Drawdowns
QBF vs. FDIG - Drawdown Comparison
The maximum QBF drawdown since its inception was -48.71%, smaller than the maximum FDIG drawdown of -61.35%. Use the drawdown chart below to compare losses from any high point for QBF and FDIG.
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Drawdown Indicators
| QBF | FDIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.71% | -61.35% | +12.64% |
Max Drawdown (1Y)Largest decline over 1 year | -48.71% | -46.69% | -2.02% |
Max Drawdown (3Y)Largest decline over 3 years | — | -49.66% | — |
Current DrawdownCurrent decline from peak | -45.76% | -26.67% | -19.09% |
Average DrawdownAverage peak-to-trough decline | -20.02% | -27.49% | +7.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.54% | 26.33% | +4.21% |
Volatility
QBF vs. FDIG - Volatility Comparison
The current volatility for Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly (QBF) is 5.79%, while Fidelity Crypto Industry and Digital Payments ETF (FDIG) has a volatility of 13.98%. This indicates that QBF 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
| QBF | FDIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.79% | 13.98% | -8.19% |
Volatility (6M)Calculated over the trailing 6-month period | 19.12% | 37.09% | -17.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.19% | 50.98% | -23.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.64% | 60.54% | -31.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.64% | 60.54% | -31.90% |
QBF vs. FDIG - Expense Ratio Comparison
QBF has a 0.79% expense ratio, which is higher than FDIG's 0.39% expense ratio.
Dividends
QBF vs. FDIG - Dividend Comparison
QBF's dividend yield for the trailing twelve months is around 1.90%, more than FDIG's 1.47% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FDIG Fidelity Crypto Industry and Digital Payments ETF | 1.47% | 1.14% | 1.17% | 0.18% |
QBF Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly | 1.90% | 1.38% | 0.00% | 0.00% |
Frequently Asked Questions
QBF and FDIG have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDIG has higher volatility (13.98%) compared to QBF (5.79%). In terms of maximum drawdown, QBF dropped -48.71% vs FDIG's -61.35%.
On 1-year performance, FDIG leads with 18.84% vs -42.28% for QBF. On fees, FDIG is cheaper at 0.39% per year. On volatility, QBF has been the lower-risk option at 5.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FDIG has performed better with a 18.84% return vs -42.28%. 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 0.79% for QBF.
QBF has the higher dividend yield at 1.90%, compared with 1.47% for FDIG.
They also come from different issuers: Innovator and Fidelity. Their fees differ too: 0.79% for QBF and 0.39% for FDIG.
FDIG currently has the higher Sharpe Ratio (0.37 vs -1.56), 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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