- ISIN
- US3163905744
- CUSIP
- 316390574
- Issuer
- Fidelity
- Inception Date
- Jun 29, 1989
- Category
- Alternative Energy Equities
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Growth
Share Price Chart
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Performance
FSLEX Performance Chart
Fidelity Environment and Alternative Energy Fund (FSLEX) is up 15.9% since the beginning of the year. FSLEX is currently trading at $54 per share. Investors who bought $1,000 worth of FSLEX shares 5 years ago would now be looking at an investment worth $1,864.
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Returns By Period
Fidelity Environment and Alternative Energy Fund (FSLEX) has returned 15.85% so far this year and 33.92% over the past 12 months. Over the last decade, FSLEX has posted an annualized return of 14.27%, slightly higher than the S&P 500 Index benchmark’s 13.88%.
Fidelity Environment and Alternative Energy Fund
- 1D
- 1.52%
- 1M
- 2.14%
- YTD
- 15.85%
- 6M
- 13.46%
- 1Y
- 33.92%
- 3Y*
- 21.55%
- 5Y*
- 13.26%
- 10Y*
- 14.27%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FSLEX Monthly Returns History
Based on dividend-adjusted daily data since Jun 29, 1989, FSLEX's average daily return is +0.03%, while the average monthly return is +0.68%. At this rate, an investment would double in approximately 8.5 years.
Historically, 60% of months were positive and 40% were negative. The best month was Nov 2020 with a return of +17.1%, while the worst month was Aug 1998 at -19.5%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.
On a daily basis, FSLEX closed higher 51% of trading days. The best single day was Oct 13, 2008 with a return of +13.9%, while the worst single day was Mar 16, 2020 at -10.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.34% | 3.71% | -7.15% | 12.84% | 3.00% | 0.17% | 15.85% | ||||||
| 2025 | 3.22% | -6.34% | -5.49% | 1.31% | 10.96% | 5.58% | 2.53% | 1.87% | 5.67% | 1.97% | -1.33% | -0.04% | 20.38% |
| 2024 | -2.18% | 6.91% | 2.84% | -3.47% | 5.87% | -0.77% | 4.73% | 1.20% | 4.86% | -4.98% | 8.27% | -3.75% | 20.01% |
| 2023 | 5.65% | 0.58% | 3.16% | -2.58% | 1.39% | 9.62% | 1.83% | -1.83% | -5.34% | -4.48% | 11.59% | 5.49% | 26.29% |
| 2022 | -11.04% | -2.43% | 5.88% | -10.89% | -1.40% | -8.43% | 13.12% | -5.43% | -8.97% | 3.23% | 7.54% | -7.49% | -26.05% |
| 2021 | 0.07% | 1.89% | 6.80% | 4.59% | 0.98% | -1.06% | 3.48% | 3.48% | -5.77% | 13.88% | -0.67% | 0.34% | 30.30% |
Benchmark Metrics
Fidelity Environment and Alternative Energy Fund has an annualized alpha of -0.75%, beta of 0.90, and R2 of 0.70 versus S&P 500 Index. Calculated based on daily prices since June 29, 1989.
- This fund participated in 108.19% of S&P 500 Index downside but only 98.28% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 0.90 and R2 of 0.70, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -0.75%
- Beta
- 0.90
- R²
- 0.70
- Upside Capture
- 98.28%
- Downside Capture
- 108.19%
Expense Ratio
FSLEX has an expense ratio of 0.79%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FSLEX ranks 54 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Fidelity Environment and Alternative Energy Fund (FSLEX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FSLEX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.37 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 2.78 | +0.16 |
| Martin ratioReturn relative to average drawdown | 11.55 | 12.44 | -0.89 |
Dividends
Dividend History
Fidelity Environment and Alternative Energy Fund provided a 1.56% dividend yield over the last twelve months, with an annual payout of $0.84 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.84 | $0.18 | $0.16 | $0.13 | $0.18 | $2.76 | $1.90 | $0.58 | $1.38 | $1.64 | $0.29 | $0.57 |
Dividend yield | 1.56% | 0.37% | 0.41% | 0.39% | 0.69% | 7.74% | 6.41% | 2.17% | 6.39% | 6.19% | 1.29% | 3.01% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Environment and Alternative Energy Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.67 | $0.00 | $0.00 | $0.67 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.18 | $0.18 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.15 | $0.16 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.13 | $0.13 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.18 | $0.18 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.74 | $2.76 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Fidelity Environment and Alternative Energy Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Fidelity Environment and Alternative Energy Fund was 50.21%, occurring on Jul 23, 2002. Recovery took 917 trading sessions.
The current Fidelity Environment and Alternative Energy Fund drawdown is 1.28%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Dot-com crash2000–2002 | -50.21%Jul 2002 | 4y 3mo | 3y 7mo | 7y 11moApr 1998 - Mar 2006 |
Financial crisis2007–2009 | -49.50%Mar 2009 | 1y 2mo | 1y 11mo | 3y 1moDec 2007 - Feb 2011 |
COVID crash2020 | -39.77%Mar 2020 | 2mo 2d | 5mo 8d | 7mo 10dJan 2020 - Aug 2020 |
Bear market2022 | -32.67%Oct 2022 | 10mo 26d | 1y 7mo | 2y 6moNov 2021 - May 2024 |
2011 bear market2011 | -31.36%Oct 2011 | 5mo 4d | 1y 7mo | 2y 19dMay 2011 - May 2013 |
Drawdown Indicators
| FSLEX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.21% | -56.78% | +6.57% |
Max Drawdown (1Y)Largest decline over 1 year | -11.41% | -9.10% | -2.31% |
Max Drawdown (3Y)Largest decline over 3 years | -24.04% | -18.90% | -5.14% |
Max Drawdown (5Y)Largest decline over 5 years | -32.67% | -25.43% | -7.24% |
Max Drawdown (10Y)Largest decline over 10 years | -39.77% | -33.92% | -5.85% |
Current DrawdownCurrent decline from peak | -1.28% | -1.80% | +0.52% |
Average DrawdownAverage peak-to-trough decline | -13.91% | -10.71% | -3.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 2.03% | +0.88% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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