FBMPX vs. GRID

Last updated Jun 9, 2026

FBMPX (Fidelity Select Communication Services Portfolio) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both funds - FBMPX is a Communications Equities fund managed by Fidelity, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. Over the past 10 years, FBMPX returned 16.89%/yr vs 19.34%/yr for GRID. A 0.60 correlation means they provide meaningful diversification when combined. FBMPX charges 0.74%/yr vs 0.70%/yr for GRID.

Performance

FBMPX vs. GRID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Communication Services Portfolio (FBMPX) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBMPX achieves a 6.97% return, which is significantly lower than GRID's 23.80% return. Over the past 10 years, FBMPX has underperformed GRID with an annualized return of 16.89%, while GRID has yielded a comparatively higher 19.34% annualized return.

FBMPX

• 1D: -2.81%
• 1M: -3.35%
• YTD: 6.97%
• 6M: 7.58%
• 1Y: 32.45%
• 3Y*: 33.06%
• 5Y*: 13.51%
• 10Y*: 16.89%

GRID

• 1D: 0.94%
• 1M: -4.01%
• YTD: 23.80%
• 6M: 23.19%
• 1Y: 44.25%
• 3Y*: 24.20%
• 5Y*: 16.92%
• 10Y*: 19.34%

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

FBMPX vs. GRID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBMPX Fidelity Select Communication Services Portfolio	6.97%	37.07%	35.98%	56.85%	-38.30%	15.97%	35.48%	33.14%	-3.52%	12.60%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	23.80%	29.65%	15.18%	21.57%	-13.89%	27.65%	48.84%	42.80%	-22.69%	27.44%

Correlation

The correlation between FBMPX and GRID is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Nov 17, 2009	0.60

The correlation between FBMPX and GRID has been stable across timeframes, ranging from 0.60 to 0.68 - a consistent structural relationship.

FBMPX vs. GRID - Sectors Allocation Comparison

Sectors	FBMPX	GRID
Communication Services	83.1%	-
Technology	13.1%	11.0%
Consumer Cyclical	2.8%	3.5%
Healthcare	0.7%	-
Industrials	0.3%	65.2%
Basic Materials	-	0.0%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Real Estate	-	-
Utilities	-	20.4%

Return for Risk

FBMPX vs. GRID — Risk / Return Rank

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

FBMPX

FBMPX Risk / Return Rank: 38
FBMPX Sharpe Ratio Rank: 41
FBMPX Sortino Ratio Rank: 38
FBMPX Omega Ratio Rank: 39
FBMPX Calmar Ratio Rank: 33
FBMPX Martin Ratio Rank: 37

GRID

GRID Risk / Return Rank: 76
GRID Sharpe Ratio Rank: 76
GRID Sortino Ratio Rank: 71
GRID Omega Ratio Rank: 72
GRID Calmar Ratio Rank: 80
GRID Martin Ratio Rank: 80

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. GRID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Communication Services Portfolio (FBMPX) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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.

	FBMPX	GRID	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.22	-0.41
Sortino ratio: Return per unit of downside risk	2.49	2.91	-0.41
Omega ratio: Gain probability vs. loss probability	1.32	1.38	-0.07
Calmar ratio: Return relative to maximum drawdown	2.06	3.79	-1.74
Martin ratio: Return relative to average drawdown	7.74	14.15	-6.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBMPX vs. GRID - Sharpe Ratio Comparison

The current FBMPX Sharpe Ratio is 1.81, which is comparable to the GRID Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of FBMPX and GRID, 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

	FBMPX	GRID	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	2.22	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.81	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.85	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.56	+0.09

Drawdowns

FBMPX vs. GRID - Drawdown Comparison

The maximum FBMPX drawdown since its inception was -61.77%, which is greater than GRID's maximum drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for FBMPX and GRID.

Drawdown Indicators

	FBMPX	GRID	Difference
Max Drawdown Largest peak-to-trough decline	-61.77%	-40.56%	-21.21%
Max Drawdown (1Y) Largest decline over 1 year	-16.90%	-11.73%	-5.17%
Max Drawdown (3Y) Largest decline over 3 years	-23.20%	-20.77%	-2.43%
Max Drawdown (5Y) Largest decline over 5 years	-47.42%	-29.64%	-17.78%
Max Drawdown (10Y) Largest decline over 10 years	-47.42%	-40.56%	-6.86%
Current Drawdown Current decline from peak	-5.72%	-5.25%	-0.47%
Average Drawdown Average peak-to-trough decline	-10.63%	-8.43%	-2.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.48%	3.14%	+1.34%

Volatility

FBMPX vs. GRID - Volatility Comparison

The current volatility for Fidelity Select Communication Services Portfolio (FBMPX) is 5.19%, while First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) has a volatility of 8.65%. This indicates that FBMPX experiences smaller price fluctuations and is considered to be less risky than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBMPX	GRID	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	8.65%	-3.46%
Volatility (6M) Calculated over the trailing 6-month period	14.24%	16.87%	-2.63%
Volatility (1Y) Calculated over the trailing 1-year period	19.21%	20.03%	-0.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.28%	21.11%	+2.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.98%	22.86%	-0.88%

FBMPX vs. GRID - Expense Ratio Comparison

FBMPX has a 0.74% expense ratio, which is higher than GRID's 0.70% expense ratio.

Dividends

FBMPX vs. GRID - Dividend Comparison

FBMPX's dividend yield for the trailing twelve months is around 12.52%, more than GRID's 0.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBMPX Fidelity Select Communication Services Portfolio	12.52%	8.09%	7.05%	0.00%	0.00%	5.88%	3.74%	35.43%	15.29%	5.53%	7.50%	7.29%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	0.80%	1.01%	1.06%	1.23%	1.26%	0.63%	0.68%	1.26%	1.28%	1.07%	1.07%	1.23%

Frequently Asked Questions

Can I hold both FBMPX and GRID in my portfolio?

FBMPX and GRID have a correlation of 0.63, 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 GRID?

GRID has higher volatility (8.65%) compared to FBMPX (5.19%). In terms of maximum drawdown, FBMPX dropped -61.77% vs GRID's -40.56%.

Which has better risk-adjusted returns?

GRID currently has the higher Sharpe Ratio (2.22 vs 1.81), 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.