FBTIX vs. XBI

Last updated Jun 24, 2026

FBTIX (Fidelity Advisor Biotechnology Fund I Class) and XBI (SPDR S&P Biotech ETF) are both Health & Biotech Equities funds. Over the past 10 years, FBTIX returned 13.68%/yr vs 11.14%/yr for XBI. Their correlation of 0.93 suggests significant overlap in exposure. FBTIX charges 0.73%/yr vs 0.35%/yr for XBI.

Performance

FBTIX vs. XBI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Biotechnology Fund I Class (FBTIX) and SPDR S&P Biotech ETF (XBI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBTIX achieves a 12.17% return, which is significantly lower than XBI's 20.70% return. Over the past 10 years, FBTIX has outperformed XBI with an annualized return of 13.68%, while XBI has yielded a comparatively lower 11.14% annualized return.

FBTIX

• 1D: 5.14%
• 1M: 8.18%
• YTD: 12.17%
• 6M: 9.59%
• 1Y: 65.23%
• 3Y*: 22.28%
• 5Y*: 10.95%
• 10Y*: 13.68%

XBI

• 1D: 0.80%
• 1M: 11.78%
• YTD: 20.70%
• 6M: 17.84%
• 1Y: 79.53%
• 3Y*: 20.24%
• 5Y*: 1.51%
• 10Y*: 11.14%

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

FBTIX vs. XBI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBTIX Fidelity Advisor Biotechnology Fund I Class	12.17%	39.91%	5.63%	11.02%	-7.74%	-2.86%	32.53%	26.11%	-3.61%	26.15%
XBI SPDR S&P Biotech ETF	20.70%	35.89%	1.01%	7.60%	-25.87%	-20.45%	48.33%	32.56%	-15.28%	43.77%

Correlation

The correlation between FBTIX and XBI is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Feb 6, 2006	0.93

The correlation between FBTIX and XBI has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

FBTIX vs. XBI — Risk / Return Rank

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

FBTIX

FBTIX Risk / Return Rank: 88
FBTIX Sharpe Ratio Rank: 91
FBTIX Sortino Ratio Rank: 84
FBTIX Omega Ratio Rank: 75
FBTIX Calmar Ratio Rank: 98
FBTIX Martin Ratio Rank: 95

XBI

XBI Risk / Return Rank: 90
XBI Sharpe Ratio Rank: 91
XBI Sortino Ratio Rank: 89
XBI Omega Ratio Rank: 82
XBI Calmar Ratio Rank: 96
XBI Martin Ratio Rank: 94

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. XBI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Biotechnology Fund I Class (FBTIX) and SPDR S&P Biotech ETF (XBI). 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	XBI	Difference
Sharpe ratio: Return per unit of total volatility	2.79	3.02	-0.23
Sortino ratio: Return per unit of downside risk	3.70	3.89	-0.19
Omega ratio: Gain probability vs. loss probability	1.44	1.47	-0.02
Calmar ratio: Return relative to maximum drawdown	7.26	8.22	-0.96
Martin ratio: Return relative to average drawdown	20.08	24.30	-4.21

FBTIX vs. XBI - Sharpe Ratio Comparison

The current FBTIX Sharpe Ratio is 2.79, which is comparable to the XBI Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of FBTIX and XBI, 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

FBTIX vs. XBI - Drawdown Comparison

The maximum FBTIX drawdown since its inception was -63.45%, roughly equal to the maximum XBI drawdown of -63.89%. Use the drawdown chart below to compare losses from any high point for FBTIX and XBI.

Drawdown Indicators

	FBTIX	XBI	Difference
Max Drawdown Largest peak-to-trough decline	-63.45%	-63.89%	+0.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-9.72%	+0.82%
Max Drawdown (3Y) Largest decline over 3 years	-32.80%	-32.99%	+0.19%
Max Drawdown (5Y) Largest decline over 5 years	-36.41%	-54.71%	+18.30%
Max Drawdown (10Y) Largest decline over 10 years	-38.64%	-63.89%	+25.25%
Current Drawdown Current decline from peak	0.00%	-14.94%	+14.94%
Average Drawdown Average peak-to-trough decline	-20.58%	-20.93%	+0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	3.28%	-0.07%

Volatility

FBTIX vs. XBI - Volatility Comparison

The current volatility for Fidelity Advisor Biotechnology Fund I Class (FBTIX) is 9.22%, while SPDR S&P Biotech ETF (XBI) has a volatility of 9.96%. This indicates that FBTIX experiences smaller price fluctuations and is considered to be less risky than XBI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBTIX	XBI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.22%	9.96%	-0.74%
Volatility (6M) Calculated over the trailing 6-month period	18.02%	21.31%	-3.29%
Volatility (1Y) Calculated over the trailing 1-year period	23.21%	26.47%	-3.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.68%	32.30%	-8.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.48%	32.01%	-7.53%

FBTIX vs. XBI - Expense Ratio Comparison

FBTIX has a 0.73% expense ratio, which is higher than XBI's 0.35% expense ratio.

Dividends

FBTIX vs. XBI - Dividend Comparison

FBTIX's dividend yield for the trailing twelve months is around 1.24%, more than XBI's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBTIX Fidelity Advisor Biotechnology Fund I Class	1.24%	1.39%	5.69%	1.36%	0.00%	18.74%	8.01%	6.44%	2.35%	0.00%	0.00%	5.23%
XBI SPDR S&P Biotech ETF	0.39%	0.37%	0.15%	0.02%	0.00%	0.04%	0.20%	0.00%	0.28%	0.24%	0.26%	0.61%

Frequently Asked Questions

Can I hold both FBTIX and XBI in my portfolio?

With a correlation of 0.91, FBTIX and XBI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FBTIX or XBI?

XBI has higher volatility (9.96%) compared to FBTIX (9.22%). In terms of maximum drawdown, FBTIX dropped -63.45% vs XBI's -63.89%.

Which has better risk-adjusted returns?

XBI currently has the higher Sharpe Ratio (3.02 vs 2.79), 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.