FDIG vs WGMI

FDIGAFidelity Crypto Industry and Digital Payments ETF

WGMICCoinShares Bitcoin Mining ETF

In short

FDIG Crypto exposure through the companies, not the coins: roughly 50 miners, exchanges and digital payments processors, weighted by how heavily they trade rather than how big they are, in a Fidelity-built index priced below the thematic norm.

WGMI The pickaxe trade, not the gold. WGMI skips bitcoin itself and buys the companies mining it, plus the chipmakers and software shops arming them, with a manager picking the names instead of a fixed index.

Stated mandate

FDIG The fund seeks to track the performance of the Fidelity Crypto Industry and Digital Payments Index before fees and expenses. It normally invests at least 80% of assets in equity securities or depositary receipts included in that index.

WGMI The Fund seeks total return. It is actively managed and invests primarily in companies connected with bitcoin mining, including miners and providers of specialized mining-related technology and services.

Why people hold it

• FDIG Runs 0.39%, under the 0.56% median for global thematic funds. Cheap real estate in a corner of the market where niche fees usually bite.
• Weights positions by trading volume rather than market cap, so the largest company in the group is not automatically the largest holding.fidelity.comfidelity.com 2
• Two engines under one ticker: crypto miners and exchanges on one side, digital payments processors on the other, about 50 names in all.fidelity.com
• Fidelity builds the index itself, screening on revenue plus text analysis of company disclosures, and rebalances quarterly over four days.fidelity.com

• WGMI Pure-play by rule: at least 80% of assets go to companies earning 50% or more of revenue from bitcoin mining, or from selling miners chips, hardware, software and services.coinshares.comsec.gov
• Actively managed, so the portfolio can shift between miners as power costs and hash economics reshuffle the field, rather than waiting on an index reconstitution.sec.gov
• Equities only. The fund does not hold bitcoin directly, through derivatives, or via bitcoin trusts, so what you own is the industry balance sheets, not the coin.sec.govcoinshares.com
• Listed since 2022 and actively traded, which is a long track record in crypto years and puts it in the upper half of its crypto-equity peer group.

Worth knowing

• FDIG Non-diversified and industry-narrow. Fidelity's own documents flag bigger swings and meaningful exposure to a small number of issuers.fidelity.com
• You own crypto-linked equities, not crypto. Miners and payment processors can respond to very different news on any given day.fidelity.com
• Volume runs light next to the ETF giants, so spreads can widen and the market price can sit at a premium or discount to net asset value.fidelity.com

• WGMI 0.75% a year runs a little above the typical fund in its crypto-equity cohort. That is the toll for active stock picking over an index.
• No distributions. Whatever this does, it does through share price, not income.
• Narrow by design. Broader blockchain baskets like BKCH and BLOK spread across more of the crypto economy; WGMI stays on miners and their suppliers, US and overseas.

Full FDIG profile⁠

Full WGMI profile⁠