FBTTX vs. FBTCX

Last updated Jun 26, 2026

FBTTX (Fidelity Advisor Biotechnology Fund Class M) and FBTCX (Fidelity Advisor Biotechnology Fund Class C) are both Health & Biotech Equities funds from Fidelity. Over the past 10 years, FBTTX returned 13.25%/yr vs 12.01%/yr for FBTCX. With a 1.00 correlation, they move nearly in lockstep. FBTTX charges 1.28%/yr vs 1.75%/yr for FBTCX.

Performance

FBTTX vs. FBTCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Biotechnology Fund Class M (FBTTX) and Fidelity Advisor Biotechnology Fund Class C (FBTCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FBTTX having a 13.78% return and FBTCX slightly lower at 13.55%. Over the past 10 years, FBTTX has outperformed FBTCX with an annualized return of 13.25%, while FBTCX has yielded a comparatively lower 12.01% annualized return.

FBTTX

• 1D: 0.78%
• 1M: 9.65%
• YTD: 13.78%
• 6M: 10.44%
• 1Y: 64.18%
• 3Y*: 22.34%
• 5Y*: 10.52%
• 10Y*: 13.25%

FBTCX

• 1D: 0.77%
• 1M: 9.62%
• YTD: 13.55%
• 6M: 10.18%
• 1Y: 63.37%
• 3Y*: 19.12%
• 5Y*: 8.58%
• 10Y*: 12.01%

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

FBTTX vs. FBTCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBTTX Fidelity Advisor Biotechnology Fund Class M	13.78%	39.21%	5.08%	10.43%	-8.22%	-3.35%	31.82%	25.39%	-4.19%	25.37%
FBTCX Fidelity Advisor Biotechnology Fund Class C	13.55%	38.48%	-2.00%	9.86%	-8.64%	-3.72%	31.17%	24.82%	-4.55%	24.81%

Correlation

The correlation between FBTTX and FBTCX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Dec 27, 2000	1.00

The correlation between FBTTX and FBTCX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FBTTX vs. FBTCX — Risk / Return Rank

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

FBTTX

FBTTX Risk / Return Rank: 91
FBTTX Sharpe Ratio Rank: 94
FBTTX Sortino Ratio Rank: 88
FBTTX Omega Ratio Rank: 81
FBTTX Calmar Ratio Rank: 98
FBTTX Martin Ratio Rank: 96

FBTCX

FBTCX Risk / Return Rank: 90
FBTCX Sharpe Ratio Rank: 93
FBTCX Sortino Ratio Rank: 87
FBTCX Omega Ratio Rank: 80
FBTCX Calmar Ratio Rank: 98
FBTCX Martin Ratio Rank: 95

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.

FBTTX vs. FBTCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Biotechnology Fund Class M (FBTTX) and Fidelity Advisor Biotechnology Fund Class C (FBTCX). 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.

	FBTTX	FBTCX	Difference
Sharpe ratio: Return per unit of total volatility	2.77	2.73	+0.04
Sortino ratio: Return per unit of downside risk	3.67	3.63	+0.04
Omega ratio: Gain probability vs. loss probability	1.44	1.43	+0.01
Calmar ratio: Return relative to maximum drawdown	7.16	6.99	+0.17
Martin ratio: Return relative to average drawdown	19.68	19.16	+0.52

FBTTX vs. FBTCX - Sharpe Ratio Comparison

The current FBTTX Sharpe Ratio is 2.77, which is comparable to the FBTCX Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of FBTTX and FBTCX, 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

FBTTX vs. FBTCX - Drawdown Comparison

The maximum FBTTX drawdown since its inception was -63.75%, roughly equal to the maximum FBTCX drawdown of -64.04%. Use the drawdown chart below to compare losses from any high point for FBTTX and FBTCX.

Drawdown Indicators

	FBTTX	FBTCX	Difference
Max Drawdown Largest peak-to-trough decline	-63.75%	-64.04%	+0.29%
Max Drawdown (1Y) Largest decline over 1 year	-8.94%	-9.04%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-32.91%	-37.26%	+4.35%
Max Drawdown (5Y) Largest decline over 5 years	-36.64%	-37.26%	+0.62%
Max Drawdown (10Y) Largest decline over 10 years	-39.04%	-39.37%	+0.33%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-21.79%	-23.03%	+1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	3.29%	-0.04%

Volatility

FBTTX vs. FBTCX - Volatility Comparison

Fidelity Advisor Biotechnology Fund Class M (FBTTX) and Fidelity Advisor Biotechnology Fund Class C (FBTCX) have volatilities of 9.18% and 9.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBTTX	FBTCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.18%	9.21%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	17.93%	17.96%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	23.16%	23.19%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.68%	23.84%	-0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.43%	24.50%	-0.07%

FBTTX vs. FBTCX - Expense Ratio Comparison

FBTTX has a 1.28% expense ratio, which is lower than FBTCX's 1.75% expense ratio.

Dividends

FBTTX vs. FBTCX - Dividend Comparison

FBTTX's dividend yield for the trailing twelve months is around 1.35%, less than FBTCX's 1.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBTCX Fidelity Advisor Biotechnology Fund Class C	1.48%	1.68%	0.00%	0.00%	0.00%	24.50%	9.78%	7.92%	2.92%	0.00%	0.00%	5.73%
FBTTX Fidelity Advisor Biotechnology Fund Class M	1.35%	1.53%	6.41%	0.93%	0.00%	21.60%	8.79%	7.10%	2.64%	0.00%	0.00%	5.42%

Frequently Asked Questions

Can I hold both FBTTX and FBTCX in my portfolio?

With a correlation of 1.00, FBTTX and FBTCX 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, FBTTX or FBTCX?

FBTCX has higher volatility (9.21%) compared to FBTTX (9.18%). In terms of maximum drawdown, FBTTX dropped -63.75% vs FBTCX's -64.04%.

Which has better risk-adjusted returns?

FBTTX currently has the higher Sharpe Ratio (2.77 vs 2.73), 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.