IBIT vs FBTC: returns, risk and drawdowns compared
iShares Bitcoin Trust ETF against Fidelity Wise Origin Bitcoin Fund, over the same 2 years (February 2024 to October 2026) with dividends reinvested.
Data updated October 2026
From February 2024 to October 2026, IBIT returned 27.9% a year and FBTC 28.0% a year on average, so FBTC came out ahead by 0.1% a year. FBTC was the more volatile of the two (53.3% against 53.0% a year), and the deepest falls from a month-end high were 49.8% for IBIT and 49.9% for FBTC.
The correlation of monthly returns was 1.00: they moved almost in lockstep.
Side by side
| IBIT | FBTC | |
|---|---|---|
| Annual return (CAGR) | +27.9% | +28.0% |
| Total return | +97% | +97% |
| Annual volatility | 53.0% | 53.3% |
| Maximum drawdown (month-end) | −49.8% | −49.9% |
| Worst month | −21.7% | −22.6% |
| Best month | +45.8% | +45.9% |
| Positive months | 58% | 58% |
| Best year | 2025: −6.4% | 2025: −6.6% |
| Worst year | 2025: −6.4% | 2025: −6.6% |
| 1-year return | −24.6% | −24.7% |
| 5 years, a year | — | — |
| 10 years, a year | — | — |
| Trading currency | USD | USD |
First nine rows: the same 33 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: IBIT vs FBTC
Returns by calendar year
| Year | IBIT | FBTC |
|---|---|---|
| 2025 | −6.4% | −6.6% |
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.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, IBIT or FBTC?
From February 2024 to October 2026, IBIT returned +27.9% a year and FBTC +28.0% a year, with dividends reinvested. Past returns do not predict future returns.
Which is riskier, IBIT or FBTC?
Over the same months annual volatility was 53.0% for IBIT and 53.3% for FBTC; the deepest fall from a month-end high was 49.8% and 49.9%, and the worst single month −21.7% and −22.6%.
How correlated are IBIT and FBTC?
The correlation of their monthly returns was 1.00: they moved almost in lockstep. Holding both adds little diversification compared with holding one.
More comparisons
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.