FELIX vs. FSPSX

Last updated Jun 4, 2026

FELIX (Fidelity Advisor Semiconductors Fund Class I) and FSPSX (Fidelity International Index Fund) are both mutual funds - FELIX is a Technology Equities fund managed by Fidelity, while FSPSX is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index. Over the past 10 years, FELIX returned 37.61%/yr vs 9.45%/yr for FSPSX. A 0.61 correlation means they provide meaningful diversification when combined. FELIX charges 0.75%/yr vs 0.04%/yr for FSPSX.

Performance

FELIX vs. FSPSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Semiconductors Fund Class I (FELIX) and Fidelity International Index Fund (FSPSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FELIX achieves a 84.99% return, which is significantly higher than FSPSX's 9.51% return. Over the past 10 years, FELIX has outperformed FSPSX with an annualized return of 37.61%, while FSPSX has yielded a comparatively lower 9.45% annualized return.

FELIX

• 1D: 6.40%
• 1M: 26.21%
• YTD: 84.99%
• 6M: 82.86%
• 1Y: 170.17%
• 3Y*: 63.90%
• 5Y*: 43.93%
• 10Y*: 37.61%

FSPSX

• 1D: 0.41%
• 1M: 4.06%
• YTD: 9.51%
• 6M: 12.14%
• 1Y: 22.52%
• 3Y*: 17.23%
• 5Y*: 8.91%
• 10Y*: 9.45%

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

FELIX vs. FSPSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FELIX Fidelity Advisor Semiconductors Fund Class I	84.99%	45.25%	44.10%	75.49%	-34.88%	57.89%	44.02%	64.21%	-12.52%	34.54%
FSPSX Fidelity International Index Fund	9.51%	31.98%	3.70%	18.31%	-14.23%	11.45%	8.16%	22.03%	-13.55%	25.37%

Correlation

The correlation between FELIX and FSPSX is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011	0.61

The correlation between FELIX and FSPSX has been stable across timeframes, ranging from 0.54 to 0.61 - a consistent structural relationship.

Return for Risk

FELIX vs. FSPSX — Risk / Return Rank

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

FELIX

FELIX Risk / Return Rank: 97
FELIX Sharpe Ratio Rank: 100
FELIX Sortino Ratio Rank: 96
FELIX Omega Ratio Rank: 94
FELIX Calmar Ratio Rank: 99
FELIX Martin Ratio Rank: 99

FSPSX

FSPSX Risk / Return Rank: 27
FSPSX Sharpe Ratio Rank: 27
FSPSX Sortino Ratio Rank: 26
FSPSX Omega Ratio Rank: 26
FSPSX Calmar Ratio Rank: 26
FSPSX Martin Ratio Rank: 31

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.

FELIX vs. FSPSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Semiconductors Fund Class I (FELIX) and Fidelity International Index Fund (FSPSX). 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.

	FELIX	FSPSX	Difference
Sharpe ratio Return per unit of total volatility	5.51	1.47	+4.04
Sortino ratio Return per unit of downside risk	5.34	2.10	+3.24
Omega ratio Gain probability vs. loss probability	1.73	1.27	+0.46
Calmar ratio Return relative to maximum drawdown	12.24	1.91	+10.33
Martin ratio Return relative to average drawdown	47.66	7.16	+40.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FELIX vs. FSPSX - Sharpe Ratio Comparison

The current FELIX Sharpe Ratio is 5.51, which is higher than the FSPSX Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of FELIX and FSPSX, 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

	FELIX	FSPSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.51	1.47	+4.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.15	0.56	+0.59
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.09	0.57	+0.52
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.50	-0.02

Drawdowns

FELIX vs. FSPSX - Drawdown Comparison

The maximum FELIX drawdown since its inception was -71.17%, which is greater than FSPSX's maximum drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for FELIX and FSPSX.

Drawdown Indicators

	FELIX	FSPSX	Difference
Max Drawdown Largest peak-to-trough decline	-71.17%	-33.69%	-37.48%
Max Drawdown (1Y) Largest decline over 1 year	-14.65%	-11.39%	-3.26%
Max Drawdown (3Y) Largest decline over 3 years	-36.40%	-13.58%	-22.82%
Max Drawdown (5Y) Largest decline over 5 years	-46.02%	-29.41%	-16.61%
Max Drawdown (10Y) Largest decline over 10 years	-46.02%	-33.69%	-12.33%
Current Drawdown Current decline from peak	0.00%	-0.45%	+0.45%
Average Drawdown Average peak-to-trough decline	-21.14%	-6.55%	-14.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	3.03%	+0.72%

Volatility

FELIX vs. FSPSX - Volatility Comparison

Fidelity Advisor Semiconductors Fund Class I (FELIX) has a higher volatility of 11.90% compared to Fidelity International Index Fund (FSPSX) at 4.62%. This indicates that FELIX's price experiences larger fluctuations and is considered to be riskier than FSPSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELIX	FSPSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.90%	4.62%	+7.28%
Volatility (6M) Calculated over the trailing 6-month period	25.31%	12.04%	+13.27%
Volatility (1Y) Calculated over the trailing 1-year period	32.52%	14.80%	+17.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.35%	15.98%	+22.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.69%	16.56%	+18.13%

FELIX vs. FSPSX - Expense Ratio Comparison

FELIX has a 0.75% expense ratio, which is higher than FSPSX's 0.04% expense ratio.

Dividends

FELIX vs. FSPSX - Dividend Comparison

FELIX's dividend yield for the trailing twelve months is around 3.52%, more than FSPSX's 2.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FELIX Fidelity Advisor Semiconductors Fund Class I	3.52%	6.51%	6.44%	3.15%	3.09%	4.14%	4.43%	1.04%	19.34%	9.50%	0.55%	10.37%
FSPSX Fidelity International Index Fund	2.88%	3.15%	3.27%	2.79%	2.66%	3.07%	1.84%	3.18%	2.79%	2.50%	3.08%	2.79%

Frequently Asked Questions

Can I hold both FELIX and FSPSX in my portfolio?

FELIX and FSPSX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FELIX or FSPSX?

FELIX has higher volatility (11.90%) compared to FSPSX (4.62%). In terms of maximum drawdown, FELIX dropped -71.17% vs FSPSX's -33.69%.

Which has better risk-adjusted returns?

FELIX currently has the higher Sharpe Ratio (5.51 vs 1.47), 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.