FCBFX vs. FSCSX

Last updated Jun 24, 2026

FCBFX (Fidelity Corporate Bond Fund) and FSCSX (Fidelity Select Software & IT Services Portfolio) are both mutual funds - FCBFX is a Corporate Bonds fund managed by Fidelity, while FSCSX is a Technology Equities fund actively managed by Fidelity. Over the past 10 years, FCBFX returned 2.69%/yr vs 15.92%/yr for FSCSX. At a correlation of -0.06, they often move in opposite directions. FCBFX charges 0.44%/yr vs 0.67%/yr for FSCSX.

Performance

FCBFX vs. FSCSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Corporate Bond Fund (FCBFX) and Fidelity Select Software & IT Services Portfolio (FSCSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCBFX achieves a 0.17% return, which is significantly higher than FSCSX's -17.45% return. Over the past 10 years, FCBFX has underperformed FSCSX with an annualized return of 2.69%, while FSCSX has yielded a comparatively higher 15.92% annualized return.

FCBFX

• 1D: -0.28%
• 1M: 0.56%
• YTD: 0.17%
• 6M: 0.62%
• 1Y: 4.79%
• 3Y*: 5.42%
• 5Y*: 0.19%
• 10Y*: 2.69%

FSCSX

• 1D: -2.26%
• 1M: -5.70%
• YTD: -17.45%
• 6M: -18.73%
• 1Y: -15.79%
• 3Y*: 8.01%
• 5Y*: 3.72%
• 10Y*: 15.92%

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

FCBFX vs. FSCSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCBFX Fidelity Corporate Bond Fund	0.17%	7.86%	2.82%	8.82%	-17.11%	-1.59%	10.59%	14.48%	-2.56%	6.83%
FSCSX Fidelity Select Software & IT Services Portfolio	-17.45%	6.96%	19.66%	51.72%	-29.13%	18.13%	45.55%	38.99%	4.08%	38.60%

Correlation

The correlation between FCBFX and FSCSX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since May 5, 2010	-0.06

The correlation between FCBFX and FSCSX shifts across timeframes, from -0.06 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FCBFX vs. FSCSX — Risk / Return Rank

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

FCBFX

FCBFX Risk / Return Rank: 19
FCBFX Sharpe Ratio Rank: 20
FCBFX Sortino Ratio Rank: 20
FCBFX Omega Ratio Rank: 18
FCBFX Calmar Ratio Rank: 20
FCBFX Martin Ratio Rank: 20

FSCSX

FSCSX Risk / Return Rank: 1
FSCSX Sharpe Ratio Rank: 1
FSCSX Sortino Ratio Rank: 1
FSCSX Omega Ratio Rank: 1
FSCSX Calmar Ratio Rank: 1
FSCSX Martin Ratio Rank: 1

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.

FCBFX vs. FSCSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Corporate Bond Fund (FCBFX) and Fidelity Select Software & IT Services Portfolio (FSCSX). 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.

	FCBFX	FSCSX	Difference
Sharpe ratio: Return per unit of total volatility	1.18	-0.51	+1.69
Sortino ratio: Return per unit of downside risk	1.73	-0.56	+2.29
Omega ratio: Gain probability vs. loss probability	1.21	0.93	+0.27
Calmar ratio: Return relative to maximum drawdown	1.51	-0.43	+1.94
Martin ratio: Return relative to average drawdown	4.74	-0.94	+5.68

FCBFX vs. FSCSX - Sharpe Ratio Comparison

The current FCBFX Sharpe Ratio is 1.18, which is higher than the FSCSX Sharpe Ratio of -0.51. The chart below compares the historical Sharpe Ratios of FCBFX and FSCSX, 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

FCBFX vs. FSCSX - Drawdown Comparison

The maximum FCBFX drawdown since its inception was -23.23%, smaller than the maximum FSCSX drawdown of -64.66%. Use the drawdown chart below to compare losses from any high point for FCBFX and FSCSX.

Drawdown Indicators

	FCBFX	FSCSX	Difference
Max Drawdown Largest peak-to-trough decline	-23.23%	-64.66%	+41.43%
Max Drawdown (1Y) Largest decline over 1 year	-3.31%	-34.24%	+30.93%
Max Drawdown (3Y) Largest decline over 3 years	-6.57%	-34.24%	+27.67%
Max Drawdown (5Y) Largest decline over 5 years	-23.21%	-37.06%	+13.85%
Max Drawdown (10Y) Largest decline over 10 years	-23.23%	-37.06%	+13.83%
Current Drawdown Current decline from peak	-1.40%	-22.17%	+20.77%
Average Drawdown Average peak-to-trough decline	-3.97%	-13.23%	+9.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	15.66%	-14.60%

Volatility

FCBFX vs. FSCSX - Volatility Comparison

The current volatility for Fidelity Corporate Bond Fund (FCBFX) is 1.25%, while Fidelity Select Software & IT Services Portfolio (FSCSX) has a volatility of 12.88%. This indicates that FCBFX experiences smaller price fluctuations and is considered to be less risky than FSCSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCBFX	FSCSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.25%	12.88%	-11.63%
Volatility (6M) Calculated over the trailing 6-month period	3.21%	25.64%	-22.43%
Volatility (1Y) Calculated over the trailing 1-year period	4.26%	28.65%	-24.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.69%	26.57%	-19.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.96%	24.68%	-18.72%

FCBFX vs. FSCSX - Expense Ratio Comparison

FCBFX has a 0.44% expense ratio, which is lower than FSCSX's 0.67% expense ratio.

Dividends

FCBFX vs. FSCSX - Dividend Comparison

FCBFX's dividend yield for the trailing twelve months is around 4.25%, less than FSCSX's 24.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCBFX Fidelity Corporate Bond Fund	4.25%	4.11%	3.95%	3.74%	2.53%	2.82%	3.19%	3.28%	3.65%	3.16%	3.55%	3.01%
FSCSX Fidelity Select Software & IT Services Portfolio	24.33%	15.40%	19.17%	7.72%	9.06%	6.54%	5.10%	12.70%	6.20%	7.15%	3.98%	5.22%

Frequently Asked Questions

Can I hold both FCBFX and FSCSX in my portfolio?

FCBFX and FSCSX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCBFX or FSCSX?

FSCSX has higher volatility (12.88%) compared to FCBFX (1.25%). In terms of maximum drawdown, FCBFX dropped -23.23% vs FSCSX's -64.66%.

Which has better risk-adjusted returns?

FCBFX currently has the higher Sharpe Ratio (1.18 vs -0.51), 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.