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Fidelity Advisor Materials Fund Class I (FMFEX) Sharpe Ratio: 0.65

Mutual Fund · Currency in USD · Last updated Jul 29, 2026

The fund seeks capital appreciation by investing primarily in companies involved in the manufacture, mining, processing, or distribution of raw materials and intermediate goods. It normally invests at least 80% of assets in these companies and primarily holds common stocks selected through fundamental analysis.

FMFEX's Sharpe Ratio of 0.65 indicates that for each unit of volatility, it generates 0.65 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jul 29, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

FMFEX Sharpe Ratio Rank

FMFEX Sharpe Ratio Rank: 16.216
Concerning

FMFEX ranks above 16.2% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating weak returns relative to total risk taken. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Weak risk-adjusted returns relative to category peers
  • Evaluate whether this holding aligns with your risk-return objectives
  • Consider reducing exposure or re-evaluating position size
  • Review higher-ranked alternatives in the same category

FMFEX Sharpe Ratio Market Positioning

The chart shows FMFEX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 0.89 or lower
  • Yellow zone (middle 50%): 0.89 to 1.75
  • Green zone (top 25%): 1.75 or higher
  • Top 1%: 3.75+
  • Median: 1.36 — half of all investments score higher

How it compares to other similar mutual funds

The table compares Fidelity Advisor Materials Fund Class I's Sharpe Ratio with other mutual funds in the Natural Resources category across multiple time periods, showing how FMFEX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jul 29, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
PJNQXPGIM Jennison Natural Resources R61.87
BCXBlackrock Resources & Commodities Strategy Trust1.49
GRHAXGoehring & Rozencwajg Resources Fund Retail Class1.29
FMFEXFidelity Advisor Materials Fund Class I0.65
Benchmark

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Time Period

How much price history to include in the calculation

Historical Sharpe Ratio

The chart shows FMFEX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when FMFEX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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