SPOT vs. FBTC
SPOT (Spotify Technology S.A.) is a stock, while FBTC (Fidelity Wise Origin Bitcoin Fund) is Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. Over the past year, SPOT returned -29.21% vs -44.68% for FBTC. At a 0.16 correlation, their price movements are largely independent.
Performance
SPOT vs. FBTC - Performance Comparison
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Returns By Period
In the year-to-date period, SPOT achieves a -15.22% return, which is significantly higher than FBTC's -25.63% return.
SPOT
- 1D
- 2.97%
- 1M
- 5.18%
- 6M
- -2.41%
- YTD
- -15.22%
- 1Y
- -29.21%
- 3Y*
- 42.06%
- 5Y*
- 14.71%
- 10Y*
- —
- ALL TIME*
- 14.01%
FBTC
- 1D
- 1.56%
- 1M
- 3.51%
- 6M
- -31.89%
- YTD
- -25.63%
- 1Y
- -44.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.64%
SPOT vs. FBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPOT Spotify Technology S.A. | -15.22% | 29.80% | 127.34% |
FBTC Fidelity Wise Origin Bitcoin Fund | -25.63% | -6.56% | 94.28% |
Correlation
The correlation between SPOT and FBTC is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.16 |
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Return for Risk
SPOT vs. FBTC — Risk / Return Rank
SPOT
FBTC
SPOT vs. FBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spotify Technology S.A. (SPOT) 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.
| SPOT | FBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 0.83 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | -0.84 | +0.18 |
| Martin ratioReturn relative to average drawdown | -1.10 | -1.34 | +0.24 |
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Drawdowns
SPOT vs. FBTC - Drawdown Comparison
The maximum SPOT drawdown since its inception was -80.51%, which is greater than FBTC's maximum drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for SPOT and FBTC.
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Drawdown Indicators
| SPOT | FBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.51% | -53.35% | -27.16% |
Max Drawdown (1Y)Largest decline over 1 year | -44.11% | -53.35% | +9.24% |
Max Drawdown (3Y)Largest decline over 3 years | -46.80% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -76.39% | — | — |
Current DrawdownCurrent decline from peak | -36.55% | -48.20% | +11.65% |
Average DrawdownAverage peak-to-trough decline | -30.96% | -17.73% | -13.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.55% | 33.39% | -6.84% |
Volatility
SPOT vs. FBTC - Volatility Comparison
The current volatility for Spotify Technology S.A. (SPOT) is 8.93%, while Fidelity Wise Origin Bitcoin Fund (FBTC) has a volatility of 10.58%. This indicates that SPOT 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.
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Volatility by Period
| SPOT | FBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.93% | 10.58% | -1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 37.30% | 34.53% | +2.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.99% | 44.30% | +0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.60% | 49.71% | -2.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.21% | 49.71% | -2.50% |
Dividends
SPOT vs. FBTC - Dividend Comparison
Neither SPOT nor FBTC has paid dividends to shareholders.
Frequently Asked Questions
SPOT and FBTC have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBTC has higher volatility (10.58%) compared to SPOT (8.93%). In terms of maximum drawdown, SPOT dropped -80.51% vs FBTC's -53.35%.
SPOT currently has the higher Sharpe Ratio (-0.65 vs -1.01), 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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