FBMPX vs. XLC

Last updated Jun 4, 2026

FBMPX (Fidelity Select Communication Services Portfolio) and XLC (Communication Services Select Sector SPDR Fund) are both funds - FBMPX is a Communications Equities fund managed by Fidelity, while XLC is a Large Cap Growth Equities fund tracking the S&P Communication Services Select Sector Index. Over the past 5 years, FBMPX returned 14.32%/yr vs 8.28%/yr for XLC. Their correlation of 0.94 suggests significant overlap in exposure. FBMPX charges 0.74%/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 9.44% return, which is significantly higher than XLC's -4.49% return.

FBMPX

• 1D: -1.18%
• 1M: 1.96%
• YTD: 9.44%
• 6M: 11.67%
• 1Y: 40.01%
• 3Y*: 34.39%
• 5Y*: 14.32%
• 10Y*: 17.12%

XLC

• 1D: -1.31%
• 1M: -3.46%
• YTD: -4.49%
• 6M: -2.02%
• 1Y: 11.67%
• 3Y*: 22.40%
• 5Y*: 8.28%
• 10Y*: —

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

FBMPX vs. XLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FBMPX Fidelity Select Communication Services Portfolio	9.44%	37.07%	35.98%	56.85%	-38.30%	15.97%	35.48%	33.14%	-5.84%
XLC Communication Services Select Sector SPDR Fund	-4.49%	23.08%	34.71%	52.82%	-37.63%	15.96%	26.90%	31.05%	-16.88%

Correlation

The correlation between FBMPX and XLC is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jun 20, 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	83.1%	95.1%
Technology	13.1%	4.7%
Consumer Cyclical	2.8%	-
Healthcare	0.7%	-
Industrials	0.3%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FBMPX vs. XLC — Risk / Return Rank

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

FBMPX

FBMPX Risk / Return Rank: 44
FBMPX Sharpe Ratio Rank: 50
FBMPX Sortino Ratio Rank: 46
FBMPX Omega Ratio Rank: 45
FBMPX Calmar Ratio Rank: 38
FBMPX Martin Ratio Rank: 41

XLC

XLC Risk / Return Rank: 24
XLC Sharpe Ratio Rank: 24
XLC Sortino Ratio Rank: 25
XLC Omega Ratio Rank: 22
XLC Calmar Ratio Rank: 23
XLC Martin Ratio Rank: 26

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. 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.

	FBMPX	XLC	Difference
Sharpe ratio: Return per unit of total volatility	2.08	0.88	+1.20
Sortino ratio: Return per unit of downside risk	2.84	1.36	+1.49
Omega ratio: Gain probability vs. loss probability	1.36	1.15	+0.21
Calmar ratio: Return relative to maximum drawdown	2.34	1.11	+1.24
Martin ratio: Return relative to average drawdown	8.87	3.72	+5.15
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. XLC - Sharpe Ratio Comparison

The current FBMPX Sharpe Ratio is 2.08, which is higher than the XLC Sharpe Ratio of 0.88. 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.

Sharpe Ratios by Period

	FBMPX	XLC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	0.88	+1.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.40	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.53	+0.12

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%	-10.57%	-6.33%
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	-3.54%	-6.36%	+2.82%
Average Drawdown Average peak-to-trough decline	-10.63%	-10.60%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	3.14%	+1.32%

Volatility

FBMPX vs. XLC - Volatility Comparison

Fidelity Select Communication Services Portfolio (FBMPX) has a higher volatility of 4.81% compared to Communication Services Select Sector SPDR Fund (XLC) at 3.67%. This indicates that FBMPX's price experiences larger fluctuations and is considered to be riskier 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	4.81%	3.67%	+1.14%
Volatility (6M) Calculated over the trailing 6-month period	13.91%	9.57%	+4.34%
Volatility (1Y) Calculated over the trailing 1-year period	19.03%	13.26%	+5.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.26%	20.68%	+2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.97%	22.20%	-0.23%

FBMPX vs. XLC - Expense Ratio Comparison

FBMPX has a 0.74% 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 12.24%, more than XLC's 1.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBMPX Fidelity Select Communication Services Portfolio	12.24%	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	1.25%	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?

FBMPX has higher volatility (4.81%) compared to XLC (3.67%). 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 (2.08 vs 0.88), 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.