FBIOX vs. SHSAX
FBIOX (Fidelity Select Biotechnology Portfolio) and SHSAX (BlackRock Health Sciences Opportunities Portfolio) are both Health & Biotech Equities funds. Over the past 10 years, FBIOX returned 11.69%/yr vs 10.05%/yr for SHSAX. Their correlation of 0.80 suggests significant overlap in exposure. FBIOX charges 0.69%/yr vs 1.09%/yr for SHSAX.
Performance
FBIOX vs. SHSAX - Performance Comparison
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Returns By Period
In the year-to-date period, FBIOX achieves a 11.03% return, which is significantly higher than SHSAX's -1.61% return. Over the past 10 years, FBIOX has outperformed SHSAX with an annualized return of 11.69%, while SHSAX has yielded a comparatively lower 10.05% annualized return.
FBIOX
- 1D
- 2.80%
- 1M
- 6.82%
- YTD
- 11.03%
- 6M
- 8.61%
- 1Y
- 58.91%
- 3Y*
- 20.04%
- 5Y*
- 6.76%
- 10Y*
- 11.69%
SHSAX
- 1D
- 1.37%
- 1M
- 1.76%
- YTD
- -1.61%
- 6M
- -2.20%
- 1Y
- 17.76%
- 3Y*
- 6.60%
- 5Y*
- 3.86%
- 10Y*
- 10.05%
FBIOX vs. SHSAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBIOX Fidelity Select Biotechnology Portfolio | 11.03% | 36.38% | 7.26% | 10.09% | -15.87% | -12.26% | 38.62% | 36.12% | -10.92% | 27.87% |
SHSAX BlackRock Health Sciences Opportunities Portfolio | -1.61% | 15.85% | 3.73% | 3.59% | -5.94% | 11.88% | 19.44% | 25.27% | 7.93% | 24.74% |
Correlation
The correlation between FBIOX and SHSAX is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2000 | 0.80 |
The correlation between FBIOX and SHSAX has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.
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Return for Risk
FBIOX vs. SHSAX — Risk / Return Rank
FBIOX
SHSAX
FBIOX vs. SHSAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Biotechnology Portfolio (FBIOX) and BlackRock Health Sciences Opportunities Portfolio (SHSAX). 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 | SHSAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.47 | ||
| Sortino ratioReturn per unit of downside risk | +1.70 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.22 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 7.66 | 1.82 | +5.84 |
| Martin ratioReturn relative to average drawdown | 23.32 | 4.39 | +18.94 |
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Drawdowns
FBIOX vs. SHSAX - Drawdown Comparison
The maximum FBIOX drawdown since its inception was -71.98%, which is greater than SHSAX's maximum drawdown of -35.49%. Use the drawdown chart below to compare losses from any high point for FBIOX and SHSAX.
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Drawdown Indicators
| FBIOX | SHSAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.98% | -35.49% | -36.49% |
Max Drawdown (1Y)Largest decline over 1 year | -7.62% | -9.87% | +2.25% |
Max Drawdown (3Y)Largest decline over 3 years | -27.83% | -16.08% | -11.75% |
Max Drawdown (5Y)Largest decline over 5 years | -44.87% | -17.99% | -26.88% |
Max Drawdown (10Y)Largest decline over 10 years | -48.66% | -28.36% | -20.30% |
Current DrawdownCurrent decline from peak | 0.00% | -4.44% | +4.44% |
Average DrawdownAverage peak-to-trough decline | -23.60% | -6.17% | -17.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 4.09% | -1.59% |
Volatility
FBIOX vs. SHSAX - Volatility Comparison
Fidelity Select Biotechnology Portfolio (FBIOX) has a higher volatility of 8.04% compared to BlackRock Health Sciences Opportunities Portfolio (SHSAX) at 5.09%. This indicates that FBIOX's price experiences larger fluctuations and is considered to be riskier than SHSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBIOX | SHSAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.04% | 5.09% | +2.95% |
Volatility (6M)Calculated over the trailing 6-month period | 17.08% | 10.73% | +6.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.36% | 14.22% | +7.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.03% | 14.44% | +10.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.26% | 16.57% | +9.69% |
FBIOX vs. SHSAX - Expense Ratio Comparison
FBIOX has a 0.69% expense ratio, which is lower than SHSAX's 1.09% expense ratio.
Dividends
FBIOX vs. SHSAX - Dividend Comparison
FBIOX's dividend yield for the trailing twelve months is around 6.06%, less than SHSAX's 10.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBIOX Fidelity Select Biotechnology Portfolio | 6.06% | 2.47% | 1.21% | 0.45% | 0.00% | 14.48% | 19.46% | 8.89% | 11.18% | 1.41% | 3.42% | 6.71% |
SHSAX BlackRock Health Sciences Opportunities Portfolio | 10.81% | 10.63% | 9.18% | 3.84% | 7.44% | 9.20% | 4.34% | 3.89% | 8.56% | 3.53% | 2.43% | 12.58% |
Frequently Asked Questions
FBIOX and SHSAX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBIOX has higher volatility (8.04%) compared to SHSAX (5.09%). In terms of maximum drawdown, FBIOX dropped -71.98% vs SHSAX's -35.49%.
FBIOX currently has the higher Sharpe Ratio (2.74 vs 1.27), 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.
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