FBIOX vs. RYOIX

Last updated Aug 4, 2026

FBIOX (Fidelity Select Biotechnology Portfolio) and RYOIX (Rydex Biotechnology Fund) are both Health & Biotech Equities funds. Over the past 10 years, FBIOX returned 10.50%/yr vs 9.09%/yr for RYOIX. Their 0.96 correlation means they have historically moved very closely together. FBIOX charges 0.62%/yr vs 1.36%/yr for RYOIX.

Performance

FBIOX vs. RYOIX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with FBIOX having a 16.42% return and RYOIX slightly lower at 15.66%. Over the past 10 years, FBIOX has outperformed RYOIX with an annualized return of 10.50%, while RYOIX has yielded a comparatively lower 9.09% annualized return.

FBIOX

• 1D: -2.67%
• 1M: -4.94%
• 6M: 13.17%
• YTD: 16.42%
• 1Y: 52.29%
• 3Y*: 22.07%
• 5Y*: 7.84%
• 10Y*: 10.50%
• ALL TIME*: 12.83%

RYOIX

• 1D: -2.26%
• 1M: -6.10%
• 6M: 11.89%
• YTD: 15.66%
• 1Y: 46.70%
• 3Y*: 17.65%
• 5Y*: 5.71%
• 10Y*: 9.09%
• ALL TIME*: 10.82%

*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)
FBIOX Fidelity Select Biotechnology Portfolio	$0.00	$0.00	$0.00
RYOIX Rydex Biotechnology Fund	$0.00	$0.00	$0.00

FBIOX vs. RYOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBIOX Fidelity Select Biotechnology Portfolio	16.42%	36.38%	7.26%	10.09%	-15.87%	-12.26%	38.62%	36.12%	-10.92%	27.87%
RYOIX Rydex Biotechnology Fund	15.66%	30.62%	-0.95%	6.06%	-13.04%	2.05%	21.94%	30.69%	-8.94%	29.68%

Correlation

The correlation between FBIOX and RYOIX is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999	0.96

The correlation between FBIOX and RYOIX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

FBIOX vs. RYOIX — Risk / Return Rank

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

FBIOX

FBIOX Risk / Return Rank: 92
FBIOX Sharpe Ratio Rank: 94
FBIOX Sortino Ratio Rank: 88
FBIOX Omega Ratio Rank: 82
FBIOX Calmar Ratio Rank: 98
FBIOX Martin Ratio Rank: 97

RYOIX

RYOIX Risk / Return Rank: 91
RYOIX Sharpe Ratio Rank: 92
RYOIX Sortino Ratio Rank: 89
RYOIX Omega Ratio Rank: 82
RYOIX Calmar Ratio Rank: 97
RYOIX Martin Ratio Rank: 96

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.

FBIOX vs. RYOIX - Risk-Adjusted Trends Comparison

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

	FBIOX	RYOIX	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.38	+0.09
Sortino ratio: Return per unit of downside risk	3.29	3.35	-0.06
Omega ratio: Gain probability vs. loss probability	1.39	1.39	0.00
Calmar ratio: Return relative to maximum drawdown	7.04	5.64	+1.40
Martin ratio: Return relative to average drawdown	19.48	17.98	+1.50

FBIOX vs. RYOIX - Sharpe Ratio Comparison

The current FBIOX Sharpe Ratio is 2.47, which is comparable to the RYOIX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of FBIOX and RYOIX, 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

FBIOX vs. RYOIX - Drawdown Comparison

The maximum FBIOX drawdown since its inception was -71.98%, roughly equal to the maximum RYOIX drawdown of -74.43%. Use the drawdown chart below to compare losses from any high point for FBIOX and RYOIX.

Drawdown Indicators

	FBIOX	RYOIX	Difference
Max Drawdown Largest peak-to-trough decline	-71.98%	-74.43%	+2.45%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-8.43%	+0.81%
Max Drawdown (3Y) Largest decline over 3 years	-27.83%	-23.47%	-4.36%
Max Drawdown (5Y) Largest decline over 5 years	-44.87%	-33.66%	-11.21%
Max Drawdown (10Y) Largest decline over 10 years	-48.66%	-33.66%	-15.00%
Current Drawdown Current decline from peak	-6.15%	-6.95%	+0.80%
Average Drawdown Average peak-to-trough decline	-23.55%	-27.49%	+3.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	2.64%	+0.11%

Volatility

FBIOX vs. RYOIX - Volatility Comparison

Fidelity Select Biotechnology Portfolio (FBIOX) has a higher volatility of 6.93% compared to Rydex Biotechnology Fund (RYOIX) at 6.14%. This indicates that FBIOX's price experiences larger fluctuations and is considered to be riskier than RYOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBIOX	RYOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.93%	6.14%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	17.13%	15.46%	+1.67%
Volatility (1Y) Calculated over the trailing 1-year period	21.68%	19.99%	+1.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.13%	21.33%	+3.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.17%	23.13%	+3.04%

FBIOX vs. RYOIX - Expense Ratio Comparison

FBIOX has a 0.62% expense ratio, which is lower than RYOIX's 1.36% expense ratio.

Dividends

FBIOX vs. RYOIX - Dividend Comparison

FBIOX's dividend yield for the trailing twelve months is around 5.78%, less than RYOIX's 10.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBIOX Fidelity Select Biotechnology Portfolio	5.78%	2.47%	1.21%	0.45%	0.00%	14.48%	19.46%	8.89%	11.18%	1.41%	3.42%	6.71%
RYOIX Rydex Biotechnology Fund	10.87%	12.57%	14.61%	0.00%	1.29%	19.39%	7.28%	8.58%	14.11%	5.38%	0.00%	1.45%

Frequently Asked Questions

Can I hold both FBIOX and RYOIX in my portfolio?

With a correlation of 0.93, FBIOX and RYOIX 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 RYOIX?

FBIOX has higher volatility (6.93%) compared to RYOIX (6.14%). In terms of maximum drawdown, FBIOX dropped -71.98% vs RYOIX's -74.43%.

Which has better risk-adjusted returns?

FBIOX currently has the higher Sharpe Ratio (2.47 vs 2.38), 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.