FBMPX vs. XLC

Last updated Aug 4, 2026

FBMPX (Fidelity Select Communication Services Portfolio) and XLC (Communication Services Select Sector SPDR Fund) are both Communications Equities funds. FBMPX is actively managed, while XLC is passively managed. Over the past 5 years, FBMPX returned 12.09%/yr vs 7.39%/yr for XLC. Their correlation of 0.94 means they have usually moved in the same direction. FBMPX charges 0.64%/yr vs 0.13%/yr for XLC.

Performance

FBMPX vs. XLC - Performance Comparison

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

Returns By Period

In the year-to-date period, FBMPX achieves a 4.58% return, which is significantly higher than XLC's -4.87% return.

FBMPX

• 1D: 1.67%
• 1M: -4.14%
• 6M: 0.05%
• YTD: 4.58%
• 1Y: 19.79%
• 3Y*: 27.90%
• 5Y*: 12.09%
• 10Y*: 16.62%
• ALL TIME*: 13.38%

XLC

• 1D: 2.86%
• 1M: 1.59%
• 6M: -6.42%
• YTD: -4.87%
• 1Y: 6.24%
• 3Y*: 19.74%
• 5Y*: 7.39%
• 10Y*: —
• ALL TIME*: 11.51%

*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)
FBMPX Fidelity Select Communication Services Portfolio	$0.00	$0.00	$0.00
XLC Communication Services Select Sector SPDR Fund	$740.84M	$722.07M	$721.33M

FBMPX vs. XLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FBMPX Fidelity Select Communication Services Portfolio	4.58%	37.07%	35.98%	56.85%	-38.30%	15.97%	35.48%	33.14%	-6.03%
XLC Communication Services Select Sector SPDR Fund	-4.87%	23.08%	34.71%	52.82%	-37.63%	15.96%	26.90%	31.05%	-16.45%

Correlation

The correlation between FBMPX and XLC is 0.82, 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.	0.82
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (All Time) Calculated using the full available price history since Jun 19, 2018	0.94

The correlation between FBMPX and XLC shifts across timeframes, from 0.82 (1 year) to 0.94 (all time), reflecting how their relationship changes across market environments.

FBMPX vs. XLC - Sectors Allocation Comparison

Sectors	FBMPX	XLC
Communication Services	86.7%	89.5%
Technology	9.2%	10.5%
Consumer Cyclical	3.0%	-
Healthcare	0.7%	-
Industrials	0.5%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FBMPX vs. XLC — Risk / Return Rank

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

FBMPX

FBMPX Risk / Return Rank: 20
FBMPX Sharpe Ratio Rank: 20
FBMPX Sortino Ratio Rank: 21
FBMPX Omega Ratio Rank: 21
FBMPX Calmar Ratio Rank: 19
FBMPX Martin Ratio Rank: 22

XLC

XLC Risk / Return Rank: 20
XLC Sharpe Ratio Rank: 21
XLC Sortino Ratio Rank: 20
XLC Omega Ratio Rank: 20
XLC Calmar Ratio Rank: 20
XLC Martin Ratio Rank: 21

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.

FBMPX vs. XLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Communication Services Portfolio (FBMPX) and Communication Services Select Sector SPDR Fund (XLC). 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	XLC	Difference
Sharpe ratio: Return per unit of total volatility	0.82	0.42	+0.40
Sortino ratio: Return per unit of downside risk	1.23	0.68	+0.55
Omega ratio: Gain probability vs. loss probability	1.15	1.08	+0.07
Calmar ratio: Return relative to maximum drawdown	0.98	0.53	+0.45
Martin ratio: Return relative to average drawdown	3.32	1.37	+1.96

FBMPX vs. XLC - Sharpe Ratio Comparison

The current FBMPX Sharpe Ratio is 0.82, which is higher than the XLC Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of FBMPX and XLC, 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. XLC - Drawdown Comparison

The maximum FBMPX drawdown since its inception was -61.77%, which is greater than XLC's maximum drawdown of -46.65%. Use the drawdown chart below to compare losses from any high point for FBMPX and XLC.

Drawdown Indicators

	FBMPX	XLC	Difference
Max Drawdown Largest peak-to-trough decline	-61.77%	-46.65%	-15.12%
Max Drawdown (1Y) Largest decline over 1 year	-16.90%	-11.73%	-5.17%
Max Drawdown (3Y) Largest decline over 3 years	-23.20%	-17.97%	-5.23%
Max Drawdown (5Y) Largest decline over 5 years	-47.42%	-46.65%	-0.77%
Max Drawdown (10Y) Largest decline over 10 years	-47.42%	—	—
Current Drawdown Current decline from peak	-7.82%	-6.74%	-1.08%
Average Drawdown Average peak-to-trough decline	-10.61%	-10.54%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.99%	4.57%	+0.42%

Volatility

FBMPX vs. XLC - Volatility Comparison

The current volatility for Fidelity Select Communication Services Portfolio (FBMPX) is 6.55%, while Communication Services Select Sector SPDR Fund (XLC) has a volatility of 7.14%. This indicates that FBMPX experiences smaller price fluctuations and is considered to be less risky than XLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBMPX	XLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.55%	7.14%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	16.05%	12.12%	+3.93%
Volatility (1Y) Calculated over the trailing 1-year period	20.56%	15.02%	+5.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.50%	20.92%	+2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.09%	22.19%	-0.10%

FBMPX vs. XLC - Expense Ratio Comparison

FBMPX has a 0.64% expense ratio, which is higher than XLC's 0.13% expense ratio.

Dividends

FBMPX vs. XLC - Dividend Comparison

FBMPX's dividend yield for the trailing twelve months is around 12.81%, more than XLC's 1.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBMPX Fidelity Select Communication Services Portfolio	12.81%	8.09%	7.05%	0.00%	0.00%	5.88%	3.74%	35.43%	15.29%	5.53%	7.50%	7.29%
XLC Communication Services Select Sector SPDR Fund	1.29%	1.13%	0.99%	0.82%	1.10%	0.74%	0.68%	0.82%	0.64%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FBMPX and XLC in my portfolio?

FBMPX and XLC have a correlation of 0.82, 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 XLC?

XLC has higher volatility (7.14%) compared to FBMPX (6.55%). In terms of maximum drawdown, FBMPX dropped -61.77% vs XLC's -46.65%.

Which has better risk-adjusted returns?

FBMPX currently has the higher Sharpe Ratio (0.82 vs 0.42), 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.