CANC vs. FSPHX

Last updated Jun 3, 2026

CANC (Tema Oncology ETF) and FSPHX (Fidelity® Select Health Care Portfolio) are both Health & Biotech Equities funds. Both are actively managed. Over the past 3 years, CANC returned 107.71%/yr vs 3.74%/yr for FSPHX. A 0.51 correlation means they provide meaningful diversification when combined. CANC charges 0.75%/yr vs 0.69%/yr for FSPHX.

Performance

CANC vs. FSPHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema Oncology ETF (CANC) and Fidelity® Select Health Care Portfolio (FSPHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CANC achieves a 4.74% return, which is significantly higher than FSPHX's -3.66% return.

CANC

• 1D: -2.40%
• 1M: -2.10%
• YTD: 4.74%
• 6M: 5.93%
• 1Y: 49.25%
• 3Y*: 107.71%
• 5Y*: —
• 10Y*: —

FSPHX

• 1D: -1.66%
• 1M: 1.97%
• YTD: -3.66%
• 6M: -10.29%
• 1Y: 8.90%
• 3Y*: 3.74%
• 5Y*: 1.51%
• 10Y*: 8.61%

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

CANC vs. FSPHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CANC Tema Oncology ETF	4.74%	42.92%	-5.37%	510.51%	-85.34%	-51.82%
FSPHX Fidelity® Select Health Care Portfolio	-3.66%	9.36%	4.91%	4.13%	-12.82%	3.99%

Correlation

The correlation between CANC and FSPHX is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021	0.51

Over the past year, CANC and FSPHX have become more correlated (0.80) than their long-term average of 0.51, meaning their price movements have been converging.

Return for Risk

CANC vs. FSPHX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CANC

CANC Risk / Return Rank: 70
CANC Sharpe Ratio Rank: 63
CANC Sortino Ratio Rank: 65
CANC Omega Ratio Rank: 55
CANC Calmar Ratio Rank: 90
CANC Martin Ratio Rank: 78

FSPHX

FSPHX Risk / Return Rank: 6
FSPHX Sharpe Ratio Rank: 6
FSPHX Sortino Ratio Rank: 6
FSPHX Omega Ratio Rank: 7
FSPHX Calmar Ratio Rank: 6
FSPHX Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CANC vs. FSPHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Oncology ETF (CANC) and Fidelity® Select Health Care Portfolio (FSPHX). 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.

	CANC	FSPHX	Difference
Sharpe ratio Return per unit of total volatility	2.14	0.54	+1.60
Sortino ratio Return per unit of downside risk	3.05	0.84	+2.21
Omega ratio Gain probability vs. loss probability	1.35	1.11	+0.24
Calmar ratio Return relative to maximum drawdown	5.75	0.63	+5.12
Martin ratio Return relative to average drawdown	15.57	1.41	+14.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CANC vs. FSPHX - Sharpe Ratio Comparison

The current CANC Sharpe Ratio is 2.14, which is higher than the FSPHX Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of CANC and FSPHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CANC	FSPHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	0.54	+1.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.08	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	0.75	-0.78

Drawdowns

CANC vs. FSPHX - Drawdown Comparison

The maximum CANC drawdown since its inception was -97.53%, which is greater than FSPHX's maximum drawdown of -44.45%. Use the drawdown chart below to compare losses from any high point for CANC and FSPHX.

Drawdown Indicators

	CANC	FSPHX	Difference
Max Drawdown Largest peak-to-trough decline	-97.53%	-44.45%	-53.08%
Max Drawdown (1Y) Largest decline over 1 year	-8.67%	-18.32%	+9.65%
Max Drawdown (3Y) Largest decline over 3 years	-30.27%	-18.32%	-11.95%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.31%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-29.31%	—
Current Drawdown Current decline from peak	-56.58%	-12.89%	-43.69%
Average Drawdown Average peak-to-trough decline	-73.20%	-9.83%	-63.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	8.15%	-4.95%

Volatility

CANC vs. FSPHX - Volatility Comparison

Tema Oncology ETF (CANC) has a higher volatility of 6.55% compared to Fidelity® Select Health Care Portfolio (FSPHX) at 4.76%. This indicates that CANC's price experiences larger fluctuations and is considered to be riskier than FSPHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CANC	FSPHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.55%	4.76%	+1.79%
Volatility (6M) Calculated over the trailing 6-month period	16.79%	14.32%	+2.47%
Volatility (1Y) Calculated over the trailing 1-year period	23.11%	17.55%	+5.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	280.39%	18.31%	+262.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	280.39%	19.01%	+261.38%

CANC vs. FSPHX - Expense Ratio Comparison

CANC has a 0.75% expense ratio, which is higher than FSPHX's 0.69% expense ratio.

Dividends

CANC vs. FSPHX - Dividend Comparison

CANC's dividend yield for the trailing twelve months is around 0.05%, less than FSPHX's 12.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CANC Tema Oncology ETF	0.05%	0.06%	3.00%	0.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FSPHX Fidelity® Select Health Care Portfolio	12.64%	4.16%	10.77%	0.00%	2.13%	9.06%	11.29%	1.35%	9.02%	2.27%	0.18%	11.63%

Frequently Asked Questions

Can I hold both CANC and FSPHX in my portfolio?

CANC and FSPHX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CANC or FSPHX?

CANC has higher volatility (6.55%) compared to FSPHX (4.76%). In terms of maximum drawdown, CANC dropped -97.53% vs FSPHX's -44.45%.

Which has better risk-adjusted returns?

CANC currently has the higher Sharpe Ratio (2.14 vs 0.54), 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.