FBTC: Fidelity Wise Origin Bitcoin Fund returns, drawdowns and risk
US-listed funds that hold bitcoin or ether, or bitcoin futures.
Data updated October 2026
FBTC · US exchange · USDCategory: Bitcoin and crypto ETFsData from January 2024
From January 2024 to October 2026 FBTC returned 23.5% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $17,972.
Its deepest fall was 53.4%, from October 2025 to June 2026, and it has not yet returned to the previous high. Annual volatility was 49.7%; at the last close it was 32.9% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 33 months both have data, the correlation of monthly returns was 0.49: they moved together only in part. Beta was 2.19. In months when SPY rose, FBTC moved 210% as much on average; in months when SPY fell, 229% as much.
Key figures
- Annual return (CAGR)
- +23.5%
- 1-year return
- −24.7%
- 5 years, a year
- —
- 10 years, a year
- —
- Annual volatility
- 49.7%
- Maximum drawdown
- −53.4%
- Sharpe ratio
- 0.60
- Worst year
- 2025: −6.6%
Trailing returns
| Period | FBTC | SPY |
|---|---|---|
| 1 year | −24.7% | +16.6% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: FBTC vs SPY
Month-end values from February 2024, the first month both funds have data.
FBTC drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | FBTC | SPY |
|---|---|---|
| 2026(partial) | −3.6% | +13.3% |
| 2025 | −6.6% | +17.7% |
| 2024(partial) | +99.6% | — |
FBTC compared
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of FBTC?
From January 2024 to October 2026 FBTC returned 23.5% a year on average (CAGR) with dividends reinvested, in USD. Over the last 12 months: −24.7%.
What was the worst drawdown of FBTC?
53.4%, from October 2025 to June 2026; it has not yet returned to the previous high.
How volatile is FBTC?
Annual volatility was 49.7% over the period. Its worst month was −22.6% and 58% of months were positive. Worst calendar year: 2025 (−6.6%).
How closely does FBTC follow SPY?
Over 33 months the correlation of monthly returns was 0.49, so they moved together only in part, with a beta of 2.19.
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Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.