FBMPX vs. FFNOX

Last updated Jun 14, 2026

FBMPX (Fidelity Select Communication Services Portfolio) and FFNOX (Fidelity Multi-Asset Index Fund) are both mutual funds - FBMPX is a Communications Equities fund managed by Fidelity, while FFNOX is a Diversified Portfolio fund actively managed by Fidelity. Over the past 10 years, FBMPX returned 17.13%/yr vs 11.23%/yr for FFNOX. Their correlation of 0.81 suggests significant overlap in exposure. FBMPX charges 0.74%/yr vs 0.11%/yr for FFNOX.

Performance

FBMPX vs. FFNOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Communication Services Portfolio (FBMPX) and Fidelity Multi-Asset Index Fund (FFNOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBMPX achieves a 6.45% return, which is significantly lower than FFNOX's 9.53% return. Over the past 10 years, FBMPX has outperformed FFNOX with an annualized return of 17.13%, while FFNOX has yielded a comparatively lower 11.23% annualized return.

FBMPX

• 1D: 1.26%
• 1M: -5.10%
• YTD: 6.45%
• 6M: 7.98%
• 1Y: 32.76%
• 3Y*: 32.60%
• 5Y*: 13.16%
• 10Y*: 17.13%

FFNOX

• 1D: 2.29%
• 1M: 0.19%
• YTD: 9.53%
• 6M: 10.17%
• 1Y: 23.58%
• 3Y*: 17.14%
• 5Y*: 8.95%
• 10Y*: 11.23%

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

FBMPX vs. FFNOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBMPX Fidelity Select Communication Services Portfolio	6.45%	37.07%	35.98%	56.85%	-38.30%	15.97%	35.48%	33.14%	-3.52%	12.60%
FFNOX Fidelity Multi-Asset Index Fund	9.53%	20.18%	13.05%	19.29%	-18.02%	17.05%	16.30%	25.09%	-6.58%	17.09%

Correlation

The correlation between FBMPX and FFNOX 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	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jun 29, 1999	0.81

The correlation between FBMPX and FFNOX has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.

Return for Risk

FBMPX vs. FFNOX — Risk / Return Rank

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

FBMPX

FBMPX Risk / Return Rank: 43
FBMPX Sharpe Ratio Rank: 48
FBMPX Sortino Ratio Rank: 47
FBMPX Omega Ratio Rank: 45
FBMPX Calmar Ratio Rank: 35
FBMPX Martin Ratio Rank: 38

FFNOX

FFNOX Risk / Return Rank: 70
FFNOX Sharpe Ratio Rank: 69
FFNOX Sortino Ratio Rank: 67
FFNOX Omega Ratio Rank: 68
FFNOX Calmar Ratio Rank: 70
FFNOX Martin Ratio Rank: 77

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.

FBMPX vs. FFNOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Communication Services Portfolio (FBMPX) and Fidelity Multi-Asset Index Fund (FFNOX). 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.

	FBMPX	FFNOX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.92	-0.31
Sortino ratio: Return per unit of downside risk	2.26	2.67	-0.42
Omega ratio: Gain probability vs. loss probability	1.29	1.36	-0.07
Calmar ratio: Return relative to maximum drawdown	1.83	2.64	-0.81
Martin ratio: Return relative to average drawdown	6.79	11.26	-4.47

FBMPX vs. FFNOX - Sharpe Ratio Comparison

The current FBMPX Sharpe Ratio is 1.61, which is comparable to the FFNOX Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of FBMPX and FFNOX, 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

FBMPX vs. FFNOX - Drawdown Comparison

The maximum FBMPX drawdown since its inception was -61.77%, which is greater than FFNOX's maximum drawdown of -49.84%. Use the drawdown chart below to compare losses from any high point for FBMPX and FFNOX.

Drawdown Indicators

	FBMPX	FFNOX	Difference
Max Drawdown Largest peak-to-trough decline	-61.77%	-49.84%	-11.93%
Max Drawdown (1Y) Largest decline over 1 year	-16.90%	-8.60%	-8.30%
Max Drawdown (3Y) Largest decline over 3 years	-23.20%	-14.10%	-9.10%
Max Drawdown (5Y) Largest decline over 5 years	-47.42%	-26.04%	-21.38%
Max Drawdown (10Y) Largest decline over 10 years	-47.42%	-29.93%	-17.49%
Current Drawdown Current decline from peak	-6.18%	-1.83%	-4.35%
Average Drawdown Average peak-to-trough decline	-10.62%	-8.69%	-1.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.56%	2.01%	+2.55%

Volatility

FBMPX vs. FFNOX - Volatility Comparison

Fidelity Select Communication Services Portfolio (FBMPX) has a higher volatility of 5.48% compared to Fidelity Multi-Asset Index Fund (FFNOX) at 4.83%. This indicates that FBMPX's price experiences larger fluctuations and is considered to be riskier than FFNOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBMPX	FFNOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.48%	4.83%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	14.31%	9.79%	+4.52%
Volatility (1Y) Calculated over the trailing 1-year period	19.24%	11.81%	+7.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.30%	13.86%	+9.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.98%	14.61%	+7.37%

FBMPX vs. FFNOX - Expense Ratio Comparison

FBMPX has a 0.74% expense ratio, which is higher than FFNOX's 0.11% expense ratio.

Dividends

FBMPX vs. FFNOX - Dividend Comparison

FBMPX's dividend yield for the trailing twelve months is around 12.58%, more than FFNOX's 2.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBMPX Fidelity Select Communication Services Portfolio	12.58%	8.09%	7.05%	0.00%	0.00%	5.88%	3.74%	35.43%	15.29%	5.53%	7.50%	7.29%
FFNOX Fidelity Multi-Asset Index Fund	2.35%	3.68%	6.43%	3.18%	7.14%	5.71%	2.87%	2.96%	2.90%	0.64%	2.50%	0.70%

Frequently Asked Questions

Can I hold both FBMPX and FFNOX in my portfolio?

FBMPX and FFNOX 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.

Which is riskier, FBMPX or FFNOX?

FBMPX has higher volatility (5.48%) compared to FFNOX (4.83%). In terms of maximum drawdown, FBMPX dropped -61.77% vs FFNOX's -49.84%.

Which has better risk-adjusted returns?

FFNOX currently has the higher Sharpe Ratio (1.92 vs 1.61), 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.