FBTIX vs. FSMEX
FBTIX (Fidelity Advisor Biotechnology Fund I Class) and FSMEX (Fidelity Select Medical Technology and Devices Portfolio) are both Health & Biotech Equities funds from Fidelity. Over the past 10 years, FBTIX returned 12.78%/yr vs 9.67%/yr for FSMEX. Their 0.68 correlation means they have sometimes moved together and sometimes differently. FBTIX charges 0.73%/yr vs 0.62%/yr for FSMEX.
Performance
FBTIX vs. FSMEX - Performance Comparison
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Returns By Period
In the year-to-date period, FBTIX achieves a 20.80% return, which is significantly higher than FSMEX's -7.61% return. Over the past 10 years, FBTIX has outperformed FSMEX with an annualized return of 12.78%, while FSMEX has yielded a comparatively lower 9.67% annualized return.
FBTIX
- 1D
- -2.37%
- 1M
- -2.22%
- 6M
- 17.52%
- YTD
- 20.80%
- 1Y
- 61.50%
- 3Y*
- 25.34%
- 5Y*
- 12.98%
- 10Y*
- 12.78%
- ALL TIME*
- 9.09%
FSMEX
- 1D
- -1.12%
- 1M
- 0.10%
- 6M
- -5.06%
- YTD
- -7.61%
- 1Y
- 0.30%
- 3Y*
- 4.26%
- 5Y*
- -1.64%
- 10Y*
- 9.67%
- ALL TIME*
- 12.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FBTIX vs. FSMEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBTIX Fidelity Advisor Biotechnology Fund I Class | 20.80% | 39.91% | 5.63% | 11.02% | -7.74% | -2.86% | 32.53% | 26.11% | -3.61% | 26.15% |
FSMEX Fidelity Select Medical Technology and Devices Portfolio | -7.61% | 8.13% | 18.37% | 0.62% | -24.84% | 24.56% | 30.18% | 29.58% | 15.98% | 26.66% |
Correlation
The correlation between FBTIX and FSMEX is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.41 |
Correlation (3Y) Balances recent behavior with more history. | 0.50 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.58 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Dec 27, 2000 | 0.68 |
Over the past year, the correlation between FBTIX and FSMEX has dropped to 0.41 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
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Return for Risk
FBTIX vs. FSMEX — Risk / Return Rank
FBTIX
FSMEX
FBTIX vs. FSMEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Biotechnology Fund I Class (FBTIX) and Fidelity Select Medical Technology and Devices Portfolio (FSMEX). 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.
| FBTIX | FSMEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.68 | ||
| Sortino ratioReturn per unit of downside risk | +3.41 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.01 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 7.07 | -0.01 | +7.08 |
| Martin ratioReturn relative to average drawdown | 18.80 | -0.02 | +18.82 |
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Drawdowns
FBTIX vs. FSMEX - Drawdown Comparison
The maximum FBTIX drawdown since its inception was -63.45%, which is greater than FSMEX's maximum drawdown of -40.34%. Use the drawdown chart below to compare losses from any high point for FBTIX and FSMEX.
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Drawdown Indicators
| FBTIX | FSMEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.45% | -40.34% | -23.11% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -26.28% | +17.38% |
Max Drawdown (3Y)Largest decline over 3 years | -32.80% | -26.28% | -6.52% |
Max Drawdown (5Y)Largest decline over 5 years | -36.41% | -40.34% | +3.93% |
Max Drawdown (10Y)Largest decline over 10 years | -38.64% | -40.34% | +1.70% |
Current DrawdownCurrent decline from peak | -5.28% | -13.48% | +8.20% |
Average DrawdownAverage peak-to-trough decline | -20.50% | -7.81% | -12.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.34% | 12.48% | -9.14% |
Volatility
FBTIX vs. FSMEX - Volatility Comparison
Fidelity Advisor Biotechnology Fund I Class (FBTIX) has a higher volatility of 7.22% compared to Fidelity Select Medical Technology and Devices Portfolio (FSMEX) at 6.43%. This indicates that FBTIX's price experiences larger fluctuations and is considered to be riskier than FSMEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTIX | FSMEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.22% | 6.43% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 18.05% | 16.56% | +1.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.60% | 20.02% | +3.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.82% | 21.35% | +2.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.40% | 20.89% | +3.51% |
FBTIX vs. FSMEX - Expense Ratio Comparison
FBTIX has a 0.73% expense ratio, which is higher than FSMEX's 0.62% expense ratio.
Dividends
FBTIX vs. FSMEX - Dividend Comparison
FBTIX's dividend yield for the trailing twelve months is around 1.15%, less than FSMEX's 19.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBTIX Fidelity Advisor Biotechnology Fund I Class | 1.15% | 1.39% | 5.69% | 1.36% | 0.00% | 18.74% | 8.01% | 6.44% | 2.35% | 0.00% | 0.00% | 5.23% |
FSMEX Fidelity Select Medical Technology and Devices Portfolio | 19.65% | 10.53% | 17.04% | 0.00% | 1.80% | 8.12% | 6.65% | 1.77% | 7.47% | 6.26% | 5.84% | 16.35% |
Frequently Asked Questions
FBTIX and FSMEX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBTIX has higher volatility (7.22%) compared to FSMEX (6.43%). In terms of maximum drawdown, FBTIX dropped -63.45% vs FSMEX's -40.34%.
FBTIX currently has the higher Sharpe Ratio (2.67 vs -0.01), 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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