The 25-year-old rapper had a chain and an unspecified amount of cash snatched while in Patterson, New Jersey, with police dispatched to the scene at around 5am amid reports shots had been fired during a fight.
According to TMZ, officers located two guys nearby with gunshot wounds, one hurt in the leg and another shot in the torso.
And a third man believed to have been involved in the row checked himself into Hackensack Medical Centre shortly afterwards.
An investigation is underway into the shooting, but police told the website no robbery has been reported.
It is unclear whether Fetty – whose real name is Willie Maxwell II – was involved in the firearms incident, but he was not one of the victims.
The ‘Trap Queen’ hitmaker became a father for the third time last March when on/off lover Masika Kalysha gave birth to their baby girl.
The 31-year-old reality star had announced her pregnancy the previous November, and later identified Fetty as the father – but he suggested he wasn’t.
However, Masika later revealed she had asked her former lover – who already has son Aydin, five, and daughter Zaviera, two, from past relationships – to undertake a test to prove paternity on multiple occasions but he refused.
She previously said: “I tried to demand him taking a paternity test. He doesn’t want to take one. I asked him seven times, ‘Will you just volunteer and do it?’ He refuses.”
While Fetty and Masika’s relationship started as a professional one when they teamed up to make music together, it quickly became personal.
It was when Masika went to get her breast implants removed that she discovered she was pregnant, but she claimed Fetty was less than impressed with the news.
She continued: “[He told me] ‘Well, I don’t really want to have another kid right now’. [Later] He’s like, ‘Well, if you have this kid, I’m not going to help you out with anything. I’m not gonna be there. You’re own your own, so it’s up to you.’ “