FHCIX vs. SHSSX

Last updated Jun 4, 2026

FHCIX (Fidelity Advisor Health Care Fund Class I) and SHSSX (Health Sciences Opportunities Fund Class Institutional) are both Health & Biotech Equities funds. Over the past 10 years, FHCIX returned 8.41%/yr vs 9.37%/yr for SHSSX. Their correlation of 0.92 suggests significant overlap in exposure. FHCIX charges 0.71%/yr vs 0.84%/yr for SHSSX.

Performance

FHCIX vs. SHSSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Health Care Fund Class I (FHCIX) 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, FHCIX achieves a -5.08% return, which is significantly higher than SHSSX's -5.37% return. Over the past 10 years, FHCIX has underperformed SHSSX with an annualized return of 8.41%, while SHSSX has yielded a comparatively higher 9.37% annualized return.

FHCIX

• 1D: -1.81%
• 1M: -1.03%
• YTD: -5.08%
• 6M: -6.17%
• 1Y: 14.48%
• 3Y*: 4.57%
• 5Y*: 2.01%
• 10Y*: 8.41%

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)

FHCIX vs. SHSSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHCIX Fidelity Advisor Health Care Fund Class I	-5.08%	14.48%	4.22%	4.07%	-12.84%	11.53%	21.40%	28.22%	7.51%	24.38%
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 FHCIX and SHSSX is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 3, 2001	0.92

The correlation between FHCIX and SHSSX has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

Return for Risk

FHCIX vs. SHSSX — Risk / Return Rank

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

FHCIX

FHCIX Risk / Return Rank: 12
FHCIX Sharpe Ratio Rank: 12
FHCIX Sortino Ratio Rank: 13
FHCIX Omega Ratio Rank: 11
FHCIX Calmar Ratio Rank: 12
FHCIX Martin Ratio Rank: 10

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.

FHCIX vs. SHSSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Health Care Fund Class I (FHCIX) 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.

	FHCIX	SHSSX	Difference
Sharpe ratio: Return per unit of total volatility	0.94	0.96	-0.02
Sortino ratio: Return per unit of downside risk	1.48	1.49	-0.01
Omega ratio: Gain probability vs. loss probability	1.17	1.17	0.00
Calmar ratio: Return relative to maximum drawdown	1.12	1.35	-0.23
Martin ratio: Return relative to average drawdown	3.04	3.38	-0.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHCIX vs. SHSSX - Sharpe Ratio Comparison

The current FHCIX Sharpe Ratio is 0.94, which is comparable to the SHSSX Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of FHCIX 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

	FHCIX	SHSSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	0.96	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.28	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.57	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.69	-0.11

Drawdowns

FHCIX vs. SHSSX - Drawdown Comparison

The maximum FHCIX drawdown since its inception was -44.75%, which is greater than SHSSX's maximum drawdown of -35.40%. Use the drawdown chart below to compare losses from any high point for FHCIX and SHSSX.

Drawdown Indicators

	FHCIX	SHSSX	Difference
Max Drawdown Largest peak-to-trough decline	-44.75%	-35.40%	-9.35%
Max Drawdown (1Y) Largest decline over 1 year	-13.37%	-9.83%	-3.54%
Max Drawdown (3Y) Largest decline over 3 years	-17.38%	-15.95%	-1.43%
Max Drawdown (5Y) Largest decline over 5 years	-29.24%	-17.90%	-11.34%
Max Drawdown (10Y) Largest decline over 10 years	-29.24%	-28.34%	-0.90%
Current Drawdown Current decline from peak	-9.05%	-8.10%	-0.95%
Average Drawdown Average peak-to-trough decline	-9.20%	-5.98%	-3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.90%	3.91%	+0.99%

Volatility

FHCIX vs. SHSSX - Volatility Comparison

Fidelity Advisor Health Care Fund Class I (FHCIX) has a higher volatility of 5.08% compared to Health Sciences Opportunities Fund Class Institutional (SHSSX) at 4.16%. This indicates that FHCIX'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

	FHCIX	SHSSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	4.16%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	12.11%	10.40%	+1.71%
Volatility (1Y) Calculated over the trailing 1-year period	15.85%	13.76%	+2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.90%	14.37%	+3.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.78%	16.54%	+2.24%

FHCIX vs. SHSSX - Expense Ratio Comparison

FHCIX has a 0.71% expense ratio, which is lower than SHSSX's 0.84% expense ratio.

Dividends

FHCIX vs. SHSSX - Dividend Comparison

FHCIX's dividend yield for the trailing twelve months is around 12.18%, more than SHSSX's 10.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHCIX Fidelity Advisor Health Care Fund Class I	12.18%	11.56%	10.92%	0.00%	0.00%	5.64%	5.72%	0.48%	4.65%	0.06%	0.00%	6.29%
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 FHCIX and SHSSX in my portfolio?

FHCIX and SHSSX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHCIX or SHSSX?

FHCIX has higher volatility (5.08%) compared to SHSSX (4.16%). In terms of maximum drawdown, FHCIX dropped -44.75% vs SHSSX's -35.40%.

Which has better risk-adjusted returns?

SHSSX currently has the higher Sharpe Ratio (0.96 vs 0.94), 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.