FBTIX vs. SHSSX

Last updated Jun 4, 2026

FBTIX (Fidelity Advisor Biotechnology Fund I Class) and SHSSX (Health Sciences Opportunities Fund Class Institutional) are both Health & Biotech Equities funds. Over the past 10 years, FBTIX returned 10.80%/yr vs 9.37%/yr for SHSSX. Their correlation of 0.81 suggests significant overlap in exposure. FBTIX charges 0.73%/yr vs 0.84%/yr for SHSSX.

Performance

FBTIX vs. SHSSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Biotechnology Fund I Class (FBTIX) and Health Sciences Opportunities Fund Class Institutional (SHSSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBTIX achieves a -0.73% return, which is significantly higher than SHSSX's -5.37% return. Over the past 10 years, FBTIX has outperformed SHSSX with an annualized return of 10.80%, while SHSSX has yielded a comparatively lower 9.37% annualized return.

FBTIX

• 1D: -3.05%
• 1M: -5.54%
• YTD: -0.73%
• 6M: -4.04%
• 1Y: 44.70%
• 3Y*: 17.29%
• 5Y*: 9.54%
• 10Y*: 10.80%

SHSSX

• 1D: -1.67%
• 1M: 0.03%
• YTD: -5.37%
• 6M: -5.86%
• 1Y: 13.01%
• 3Y*: 5.98%
• 5Y*: 4.00%
• 10Y*: 9.37%

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

FBTIX vs. SHSSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBTIX Fidelity Advisor Biotechnology Fund I Class	-0.73%	39.91%	5.63%	11.02%	-7.74%	-2.86%	32.53%	26.11%	-3.61%	26.15%
SHSSX Health Sciences Opportunities Fund Class Institutional	-5.37%	16.13%	4.00%	3.86%	-5.72%	12.17%	19.54%	25.63%	8.24%	25.02%

Correlation

The correlation between FBTIX and SHSSX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jan 3, 2001	0.81

The correlation between FBTIX and SHSSX shifts across timeframes, from 0.71 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FBTIX vs. SHSSX — Risk / Return Rank

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

FBTIX

FBTIX Risk / Return Rank: 63
FBTIX Sharpe Ratio Rank: 51
FBTIX Sortino Ratio Rank: 47
FBTIX Omega Ratio Rank: 42
FBTIX Calmar Ratio Rank: 93
FBTIX Martin Ratio Rank: 82

SHSSX

SHSSX Risk / Return Rank: 13
SHSSX Sharpe Ratio Rank: 13
SHSSX Sortino Ratio Rank: 13
SHSSX Omega Ratio Rank: 12
SHSSX Calmar Ratio Rank: 15
SHSSX Martin Ratio Rank: 11

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.

FBTIX vs. SHSSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Biotechnology Fund I Class (FBTIX) and Health Sciences Opportunities Fund Class Institutional (SHSSX). 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.

	FBTIX	SHSSX	Difference
Sharpe ratio Return per unit of total volatility	2.11	0.96	+1.15
Sortino ratio Return per unit of downside risk	2.89	1.49	+1.40
Omega ratio Gain probability vs. loss probability	1.35	1.17	+0.18
Calmar ratio Return relative to maximum drawdown	5.22	1.35	+3.87
Martin ratio Return relative to average drawdown	15.39	3.38	+12.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBTIX vs. SHSSX - Sharpe Ratio Comparison

The current FBTIX Sharpe Ratio is 2.11, which is higher than the SHSSX Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of FBTIX and SHSSX, 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

	FBTIX	SHSSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	0.96	+1.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.28	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.57	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.69	-0.37

Drawdowns

FBTIX vs. SHSSX - Drawdown Comparison

The maximum FBTIX drawdown since its inception was -63.45%, which is greater than SHSSX's maximum drawdown of -35.40%. Use the drawdown chart below to compare losses from any high point for FBTIX and SHSSX.

Drawdown Indicators

	FBTIX	SHSSX	Difference
Max Drawdown Largest peak-to-trough decline	-63.45%	-35.40%	-28.05%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-9.83%	+0.93%
Max Drawdown (3Y) Largest decline over 3 years	-32.80%	-15.95%	-16.85%
Max Drawdown (5Y) Largest decline over 5 years	-36.41%	-17.90%	-18.51%
Max Drawdown (10Y) Largest decline over 10 years	-38.64%	-28.34%	-10.30%
Current Drawdown Current decline from peak	-8.90%	-8.10%	-0.80%
Average Drawdown Average peak-to-trough decline	-20.61%	-5.98%	-14.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	3.91%	-0.90%

Volatility

FBTIX vs. SHSSX - Volatility Comparison

Fidelity Advisor Biotechnology Fund I Class (FBTIX) has a higher volatility of 7.09% compared to Health Sciences Opportunities Fund Class Institutional (SHSSX) at 4.16%. This indicates that FBTIX's price experiences larger fluctuations and is considered to be riskier than SHSSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBTIX	SHSSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.09%	4.16%	+2.93%
Volatility (6M) Calculated over the trailing 6-month period	16.71%	10.40%	+6.31%
Volatility (1Y) Calculated over the trailing 1-year period	22.10%	13.76%	+8.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.46%	14.37%	+9.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.41%	16.54%	+7.87%

FBTIX vs. SHSSX - Expense Ratio Comparison

FBTIX has a 0.73% expense ratio, which is lower than SHSSX's 0.84% expense ratio.

Dividends

FBTIX vs. SHSSX - Dividend Comparison

FBTIX's dividend yield for the trailing twelve months is around 1.40%, less than SHSSX's 10.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBTIX Fidelity Advisor Biotechnology Fund I Class	1.40%	1.39%	5.69%	1.36%	0.00%	18.74%	8.01%	6.44%	2.35%	0.00%	0.00%	5.23%
SHSSX Health Sciences Opportunities Fund Class Institutional	10.47%	9.90%	8.68%	3.82%	7.20%	8.96%	4.18%	3.87%	8.44%	3.59%	2.33%	12.29%

Frequently Asked Questions

Can I hold both FBTIX and SHSSX in my portfolio?

FBTIX and SHSSX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FBTIX or SHSSX?

FBTIX has higher volatility (7.09%) compared to SHSSX (4.16%). In terms of maximum drawdown, FBTIX dropped -63.45% vs SHSSX's -35.40%.

Which has better risk-adjusted returns?

FBTIX currently has the higher Sharpe Ratio (2.11 vs 0.96), 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.