FHPFX vs. FSELX

Last updated Jun 20, 2026

FHPFX (Fidelity Series Investment Grade Securitized Fund) and FSELX (Fidelity Select Semiconductors Portfolio) are both mutual funds - FHPFX is a Total Bond Market fund managed by Fidelity, while FSELX is a Semiconductors fund managed by Fidelity. Over the past 5 years, FHPFX returned 0.64%/yr vs 46.62%/yr for FSELX. At a 0.04 correlation, their price movements are largely independent. FHPFX charges 0.00%/yr vs 0.68%/yr for FSELX.

Performance

FHPFX vs. FSELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Investment Grade Securitized Fund (FHPFX) and Fidelity Select Semiconductors Portfolio (FSELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHPFX achieves a 1.04% return, which is significantly lower than FSELX's 87.43% return.

FHPFX

• 1D: 0.22%
• 1M: 1.04%
• YTD: 1.04%
• 6M: 1.39%
• 1Y: 6.58%
• 3Y*: 4.80%
• 5Y*: 0.64%
• 10Y*: —

FSELX

• 1D: 5.45%
• 1M: 14.15%
• YTD: 87.43%
• 6M: 89.05%
• 1Y: 157.32%
• 3Y*: 66.55%
• 5Y*: 46.62%
• 10Y*: 39.47%

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

FHPFX vs. FSELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FHPFX Fidelity Series Investment Grade Securitized Fund	1.04%	8.76%	1.81%	5.29%	-12.28%	-1.06%	4.84%	6.69%	1.41%
FSELX Fidelity Select Semiconductors Portfolio	87.43%	52.17%	49.68%	78.49%	-35.27%	59.16%	44.33%	64.50%	-19.59%

Correlation

The correlation between FHPFX and FSELX is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (All Time) Calculated using the full available price history since Aug 31, 2018	0.04

Return for Risk

FHPFX vs. FSELX — Risk / Return Rank

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

FHPFX

FHPFX Risk / Return Rank: 41
FHPFX Sharpe Ratio Rank: 38
FHPFX Sortino Ratio Rank: 42
FHPFX Omega Ratio Rank: 37
FHPFX Calmar Ratio Rank: 49
FHPFX Martin Ratio Rank: 37

FSELX

FSELX Risk / Return Rank: 96
FSELX Sharpe Ratio Rank: 99
FSELX Sortino Ratio Rank: 93
FSELX Omega Ratio Rank: 90
FSELX Calmar Ratio Rank: 99
FSELX Martin Ratio Rank: 99

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.

FHPFX vs. FSELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Investment Grade Securitized Fund (FHPFX) and Fidelity Select Semiconductors Portfolio (FSELX). 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.

	FHPFX	FSELX	Difference
Sharpe ratio: Return per unit of total volatility	1.65	4.36	-2.71
Sortino ratio: Return per unit of downside risk	2.49	4.35	-1.86
Omega ratio: Gain probability vs. loss probability	1.29	1.60	-0.31
Calmar ratio: Return relative to maximum drawdown	2.53	10.88	-8.35
Martin ratio: Return relative to average drawdown	7.64	39.06	-31.42

FHPFX vs. FSELX - Sharpe Ratio Comparison

The current FHPFX Sharpe Ratio is 1.65, which is lower than the FSELX Sharpe Ratio of 4.36. The chart below compares the historical Sharpe Ratios of FHPFX and FSELX, 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

FHPFX vs. FSELX - Drawdown Comparison

The maximum FHPFX drawdown since its inception was -17.93%, smaller than the maximum FSELX drawdown of -82.54%. Use the drawdown chart below to compare losses from any high point for FHPFX and FSELX.

Drawdown Indicators

	FHPFX	FSELX	Difference
Max Drawdown Largest peak-to-trough decline	-17.93%	-82.54%	+64.61%
Max Drawdown (1Y) Largest decline over 1 year	-2.61%	-14.38%	+11.77%
Max Drawdown (3Y) Largest decline over 3 years	-7.56%	-36.31%	+28.75%
Max Drawdown (5Y) Largest decline over 5 years	-17.79%	-46.37%	+28.58%
Max Drawdown (10Y) Largest decline over 10 years	—	-46.37%	—
Current Drawdown Current decline from peak	-1.06%	0.00%	-1.06%
Average Drawdown Average peak-to-trough decline	-4.51%	-28.67%	+24.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	4.00%	-3.14%

Volatility

FHPFX vs. FSELX - Volatility Comparison

The current volatility for Fidelity Series Investment Grade Securitized Fund (FHPFX) is 1.28%, while Fidelity Select Semiconductors Portfolio (FSELX) has a volatility of 18.25%. This indicates that FHPFX experiences smaller price fluctuations and is considered to be less risky than FSELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHPFX	FSELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.28%	18.25%	-16.97%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	29.19%	-26.26%
Volatility (1Y) Calculated over the trailing 1-year period	4.02%	35.91%	-31.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.68%	39.55%	-32.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.64%	35.40%	-29.76%

FHPFX vs. FSELX - Expense Ratio Comparison

FHPFX has a 0.00% expense ratio, which is lower than FSELX's 0.68% expense ratio.

Dividends

FHPFX vs. FSELX - Dividend Comparison

FHPFX's dividend yield for the trailing twelve months is around 4.48%, less than FSELX's 8.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHPFX Fidelity Series Investment Grade Securitized Fund	4.48%	4.41%	4.54%	3.53%	1.70%	0.58%	3.20%	3.81%	1.16%	0.00%	0.00%	0.00%
FSELX Fidelity Select Semiconductors Portfolio	8.74%	11.11%	7.97%	7.20%	6.69%	6.99%	8.13%	3.36%	26.80%	14.44%	3.82%	15.22%

Frequently Asked Questions

Can I hold both FHPFX and FSELX in my portfolio?

FHPFX and FSELX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHPFX or FSELX?

FSELX has higher volatility (18.25%) compared to FHPFX (1.28%). In terms of maximum drawdown, FHPFX dropped -17.93% vs FSELX's -82.54%.

Which has better risk-adjusted returns?

FSELX currently has the higher Sharpe Ratio (4.36 vs 1.65), 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.