FBIOX vs. FBDIX

Last updated Jun 4, 2026

FBIOX (Fidelity Select Biotechnology Portfolio) and FBDIX (Franklin Biotechnology Discovery Fund) are both Health & Biotech Equities funds. Over the past 10 years, FBIOX returned 9.09%/yr vs 9.81%/yr for FBDIX. Their correlation of 0.95 suggests significant overlap in exposure. FBIOX charges 0.69%/yr vs 1.06%/yr for FBDIX.

Performance

FBIOX vs. FBDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Biotechnology Portfolio (FBIOX) and Franklin Biotechnology Discovery Fund (FBDIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBIOX achieves a 0.03% return, which is significantly lower than FBDIX's 0.59% return. Over the past 10 years, FBIOX has underperformed FBDIX with an annualized return of 9.09%, while FBDIX has yielded a comparatively higher 9.81% annualized return.

FBIOX

• 1D: -3.67%
• 1M: -3.79%
• YTD: 0.03%
• 6M: -0.21%
• 1Y: 42.15%
• 3Y*: 15.71%
• 5Y*: 5.77%
• 10Y*: 9.09%

FBDIX

• 1D: -4.72%
• 1M: -5.53%
• YTD: 0.59%
• 6M: 1.88%
• 1Y: 59.54%
• 3Y*: 26.59%
• 5Y*: 8.23%
• 10Y*: 9.81%

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

FBIOX vs. FBDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBIOX Fidelity Select Biotechnology Portfolio	0.03%	36.38%	7.26%	10.09%	-15.87%	-12.26%	38.62%	36.12%	-10.92%	27.87%
FBDIX Franklin Biotechnology Discovery Fund	0.59%	52.68%	15.37%	18.40%	-12.65%	-27.58%	29.85%	49.11%	-15.77%	18.83%

Correlation

The correlation between FBIOX and FBDIX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Sep 16, 1997	0.95

The correlation between FBIOX and FBDIX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

FBIOX vs. FBDIX — Risk / Return Rank

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

FBIOX

FBIOX Risk / Return Rank: 66
FBIOX Sharpe Ratio Rank: 53
FBIOX Sortino Ratio Rank: 50
FBIOX Omega Ratio Rank: 43
FBIOX Calmar Ratio Rank: 95
FBIOX Martin Ratio Rank: 90

FBDIX

FBDIX Risk / Return Rank: 82
FBDIX Sharpe Ratio Rank: 83
FBDIX Sortino Ratio Rank: 73
FBDIX Omega Ratio Rank: 61
FBDIX Calmar Ratio Rank: 97
FBDIX Martin Ratio Rank: 95

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.

FBIOX vs. FBDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Biotechnology Portfolio (FBIOX) and Franklin Biotechnology Discovery Fund (FBDIX). 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.

	FBIOX	FBDIX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	2.69	-0.55
Sortino ratio: Return per unit of downside risk	2.96	3.54	-0.58
Omega ratio: Gain probability vs. loss probability	1.35	1.44	-0.08
Calmar ratio: Return relative to maximum drawdown	5.81	6.76	-0.96
Martin ratio: Return relative to average drawdown	18.24	23.11	-4.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBIOX vs. FBDIX - Sharpe Ratio Comparison

The current FBIOX Sharpe Ratio is 2.15, which is comparable to the FBDIX Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of FBIOX and FBDIX, 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

	FBIOX	FBDIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	2.69	-0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.32	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.37	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.40	+0.07

Drawdowns

FBIOX vs. FBDIX - Drawdown Comparison

The maximum FBIOX drawdown since its inception was -71.98%, roughly equal to the maximum FBDIX drawdown of -71.44%. Use the drawdown chart below to compare losses from any high point for FBIOX and FBDIX.

Drawdown Indicators

	FBIOX	FBDIX	Difference
Max Drawdown Largest peak-to-trough decline	-71.98%	-71.44%	-0.54%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-9.18%	+1.56%
Max Drawdown (3Y) Largest decline over 3 years	-27.83%	-24.22%	-3.61%
Max Drawdown (5Y) Largest decline over 5 years	-44.87%	-46.83%	+1.96%
Max Drawdown (10Y) Largest decline over 10 years	-48.66%	-53.67%	+5.01%
Current Drawdown Current decline from peak	-7.02%	-9.18%	+2.16%
Average Drawdown Average peak-to-trough decline	-23.63%	-28.74%	+5.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	2.68%	-0.26%

Volatility

FBIOX vs. FBDIX - Volatility Comparison

The current volatility for Fidelity Select Biotechnology Portfolio (FBIOX) is 7.50%, while Franklin Biotechnology Discovery Fund (FBDIX) has a volatility of 8.88%. This indicates that FBIOX experiences smaller price fluctuations and is considered to be less risky than FBDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBIOX	FBDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.50%	8.88%	-1.38%
Volatility (6M) Calculated over the trailing 6-month period	16.31%	17.92%	-1.61%
Volatility (1Y) Calculated over the trailing 1-year period	20.71%	23.10%	-2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.96%	25.75%	-0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.25%	26.33%	-0.08%

FBIOX vs. FBDIX - Expense Ratio Comparison

FBIOX has a 0.69% expense ratio, which is lower than FBDIX's 1.06% expense ratio.

Dividends

FBIOX vs. FBDIX - Dividend Comparison

FBIOX's dividend yield for the trailing twelve months is around 6.72%, less than FBDIX's 10.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBDIX Franklin Biotechnology Discovery Fund	10.75%	10.81%	19.53%	0.00%	0.13%	0.98%	14.50%	18.77%	3.72%	2.39%	4.57%	8.42%
FBIOX Fidelity Select Biotechnology Portfolio	6.72%	2.47%	1.21%	0.45%	0.00%	14.48%	19.46%	8.89%	11.18%	1.41%	3.42%	6.71%

Frequently Asked Questions

Can I hold both FBIOX and FBDIX in my portfolio?

With a correlation of 0.93, FBIOX and FBDIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FBIOX or FBDIX?

FBDIX has higher volatility (8.88%) compared to FBIOX (7.50%). In terms of maximum drawdown, FBIOX dropped -71.98% vs FBDIX's -71.44%.

Which has better risk-adjusted returns?

FBDIX currently has the higher Sharpe Ratio (2.69 vs 2.15), 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.