FDIG Outshines in Digital Assets Space Amid Dollar Concerns
The Fidelity Crypto Industry and Digital Payments ETF (FDIG) has been a standout performer in the digital assets space, returning 20.9% on a NAV basis over the last three years.
As concern about the dollar grows, investors may be looking to digital assets and crypto for opportunities, which could benefit FDIG.
The fund invests in global firms related to crypto, the blockchain, and digital payments, with Coinbase (COIN) being a key name. COIN is currently the largest stock by weight in FDIG's portfolio, having spiked 11.3% over the last month despite disappointing year-to-date performance.
FDIG has outperformed its benchmark over the same period, returning 33.98% compared to 20.48%, according to Fidelity Investments data. The fund also outperformed the ETF Database Technology Equities category average in the last month.