ALTEX vs. FELIX

Last updated Aug 1, 2026

ALTEX (Firsthand Alternative Energy Fund) and FELIX (Fidelity Advisor Semiconductors Fund Class I) are both Technology Equities funds. Over the past 10 years, ALTEX returned 10.88%/yr vs 33.55%/yr for FELIX. Their 0.71 correlation means they have sometimes moved together and sometimes differently. ALTEX charges 1.98%/yr vs 0.69%/yr for FELIX.

Performance

ALTEX vs. FELIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Firsthand Alternative Energy Fund (ALTEX) and Fidelity Advisor Semiconductors Fund Class I (FELIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALTEX achieves a 27.09% return, which is significantly lower than FELIX's 48.18% return. Over the past 10 years, ALTEX has underperformed FELIX with an annualized return of 10.88%, while FELIX has yielded a comparatively higher 33.55% annualized return.

ALTEX

• 1D: 10.07%
• 1M: -13.83%
• 6M: 8.86%
• YTD: 27.09%
• 1Y: 24.52%
• 3Y*: 3.19%
• 5Y*: -0.59%
• 10Y*: 10.88%
• ALL TIME*: 2.18%

FELIX

• 1D: 7.41%
• 1M: -8.92%
• 6M: 32.63%
• YTD: 48.18%
• 1Y: 85.51%
• 3Y*: 46.63%
• 5Y*: 35.56%
• 10Y*: 33.55%
• ALL TIME*: 14.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ALTEX Firsthand Alternative Energy Fund	$0.00	$0.00	$0.00
FELIX Fidelity Advisor Semiconductors Fund Class I	$0.00	$0.00	$0.00

ALTEX vs. FELIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ALTEX Firsthand Alternative Energy Fund	27.09%	6.62%	-6.79%	-2.31%	-18.26%	-5.09%	83.88%	55.04%	-18.56%	27.35%
FELIX Fidelity Advisor Semiconductors Fund Class I	48.18%	45.25%	44.10%	75.49%	-34.88%	57.89%	44.02%	64.21%	-12.52%	34.54%

Correlation

The correlation between ALTEX and FELIX is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.70
Correlation (5Y) Shows whether the relationship held over a longer period.	0.72
Correlation (10Y) Provides a long-term view across more market conditions.	0.70
Correlation (All Time) Calculated using the full available price history since Oct 30, 2007	0.71

The correlation between ALTEX and FELIX has been stable across timeframes, ranging from 0.70 to 0.77 - a consistent structural relationship.

Return for Risk

ALTEX vs. FELIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ALTEX

ALTEX Risk / Return Rank: 13
ALTEX Sharpe Ratio Rank: 11
ALTEX Sortino Ratio Rank: 14
ALTEX Omega Ratio Rank: 16
ALTEX Calmar Ratio Rank: 13
ALTEX Martin Ratio Rank: 12

FELIX

FELIX Risk / Return Rank: 82
FELIX Sharpe Ratio Rank: 84
FELIX Sortino Ratio Rank: 73
FELIX Omega Ratio Rank: 74
FELIX Calmar Ratio Rank: 87
FELIX Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ALTEX vs. FELIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Firsthand Alternative Energy Fund (ALTEX) and Fidelity Advisor Semiconductors Fund Class I (FELIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	ALTEX	FELIX	Difference
Sharpe ratio: Return per unit of total volatility	0.44	1.98	-1.54
Sortino ratio: Return per unit of downside risk	0.86	2.41	-1.55
Omega ratio: Gain probability vs. loss probability	1.12	1.31	-0.20
Calmar ratio: Return relative to maximum drawdown	0.65	3.00	-2.35
Martin ratio: Return relative to average drawdown	1.61	12.69	-11.08

ALTEX vs. FELIX - Sharpe Ratio Comparison

The current ALTEX Sharpe Ratio is 0.44, which is lower than the FELIX Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of ALTEX and FELIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ALTEX vs. FELIX - Drawdown Comparison

The maximum ALTEX drawdown since its inception was -75.48%, which is greater than FELIX's maximum drawdown of -71.17%. Use the drawdown chart below to compare losses from any high point for ALTEX and FELIX.

Drawdown Indicators

	ALTEX	FELIX	Difference
Max Drawdown Largest peak-to-trough decline	-75.48%	-71.17%	-4.31%
Max Drawdown (1Y) Largest decline over 1 year	-30.94%	-26.89%	-4.05%
Max Drawdown (3Y) Largest decline over 3 years	-66.25%	-36.40%	-29.85%
Max Drawdown (5Y) Largest decline over 5 years	-75.48%	-46.02%	-29.46%
Max Drawdown (10Y) Largest decline over 10 years	-75.48%	-46.02%	-29.46%
Current Drawdown Current decline from peak	-23.98%	-21.47%	-2.51%
Average Drawdown Average peak-to-trough decline	-37.04%	-21.07%	-15.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.26%	6.35%	+5.91%

Volatility

ALTEX vs. FELIX - Volatility Comparison

Firsthand Alternative Energy Fund (ALTEX) and Fidelity Advisor Semiconductors Fund Class I (FELIX) have volatilities of 17.13% and 16.85%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALTEX	FELIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.13%	16.85%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	33.33%	34.46%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	45.33%	40.70%	+4.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.87%	39.85%	+29.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.79%	35.48%	+16.31%

ALTEX vs. FELIX - Expense Ratio Comparison

ALTEX has a 1.98% expense ratio, which is higher than FELIX's 0.69% expense ratio.

Dividends

ALTEX vs. FELIX - Dividend Comparison

ALTEX has not paid dividends to shareholders, while FELIX's dividend yield for the trailing twelve months is around 4.39%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALTEX Firsthand Alternative Energy Fund	0.00%	0.00%	1.50%	3.43%	0.00%	0.00%	0.00%	9.12%	0.05%	0.25%	0.00%	0.00%
FELIX Fidelity Advisor Semiconductors Fund Class I	4.39%	6.51%	6.44%	3.15%	3.09%	4.14%	4.43%	1.04%	19.34%	9.50%	0.55%	10.37%

Frequently Asked Questions

Can I hold both ALTEX and FELIX in my portfolio?

ALTEX and FELIX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ALTEX or FELIX?

ALTEX has higher volatility (17.13%) compared to FELIX (16.85%). In terms of maximum drawdown, ALTEX dropped -75.48% vs FELIX's -71.17%.

Which has better risk-adjusted returns?

FELIX currently has the higher Sharpe Ratio (1.98 vs 0.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.