FIDSX vs. FNCL

Last updated Jun 17, 2026

FIDSX (Fidelity Select Financial Services Portfolio) and FNCL (Fidelity MSCI Financials Index ETF) are both Financials Equities funds. Over the past 10 years, FIDSX returned 13.46%/yr vs 13.27%/yr for FNCL. With a 0.98 correlation, they move nearly in lockstep. FIDSX charges 0.73%/yr vs 0.08%/yr for FNCL.

Performance

FIDSX vs. FNCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Financial Services Portfolio (FIDSX) and Fidelity MSCI Financials Index ETF (FNCL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIDSX achieves a 1.74% return, which is significantly higher than FNCL's 0.16% return. Both investments have delivered pretty close results over the past 10 years, with FIDSX having a 13.46% annualized return and FNCL not far behind at 13.27%.

FIDSX

• 1D: -0.19%
• 1M: 5.33%
• YTD: 1.74%
• 6M: -3.17%
• 1Y: 7.68%
• 3Y*: 20.26%
• 5Y*: 10.06%
• 10Y*: 13.46%

FNCL

• 1D: 1.48%
• 1M: 6.38%
• YTD: 0.16%
• 6M: 0.55%
• 1Y: 10.54%
• 3Y*: 20.15%
• 5Y*: 10.50%
• 10Y*: 13.27%

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

FIDSX vs. FNCL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIDSX Fidelity Select Financial Services Portfolio	1.74%	9.33%	32.82%	14.53%	-8.19%	33.13%	1.22%	34.25%	-16.13%	20.92%
FNCL Fidelity MSCI Financials Index ETF	0.16%	14.94%	30.44%	14.10%	-12.28%	34.92%	-2.19%	31.59%	-13.44%	19.99%

Correlation

The correlation between FIDSX and FNCL is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.98

The correlation between FIDSX and FNCL has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

FIDSX vs. FNCL - Sectors Allocation Comparison

Sectors	FIDSX	FNCL
Financial Services	98.7%	96.9%
Technology	1.3%	2.0%
Basic Materials	-	-
Communication Services	-	0.0%
Consumer Cyclical	-	0.0%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	0.1%
Industrials	-	0.2%
Real Estate	-	0.7%
Utilities	-	-

Return for Risk

FIDSX vs. FNCL — Risk / Return Rank

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

FIDSX

FIDSX Risk / Return Rank: 7
FIDSX Sharpe Ratio Rank: 8
FIDSX Sortino Ratio Rank: 7
FIDSX Omega Ratio Rank: 8
FIDSX Calmar Ratio Rank: 7
FIDSX Martin Ratio Rank: 7

FNCL

FNCL Risk / Return Rank: 19
FNCL Sharpe Ratio Rank: 20
FNCL Sortino Ratio Rank: 19
FNCL Omega Ratio Rank: 19
FNCL Calmar Ratio Rank: 17
FNCL Martin Ratio Rank: 17

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.

FIDSX vs. FNCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Financial Services Portfolio (FIDSX) and Fidelity MSCI Financials Index ETF (FNCL). 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.

	FIDSX	FNCL	Difference
Sharpe ratio: Return per unit of total volatility	0.52	0.71	-0.19
Sortino ratio: Return per unit of downside risk	0.79	1.05	-0.26
Omega ratio: Gain probability vs. loss probability	1.11	1.13	-0.03
Calmar ratio: Return relative to maximum drawdown	0.54	0.72	-0.18
Martin ratio: Return relative to average drawdown	1.30	1.87	-0.57

FIDSX vs. FNCL - Sharpe Ratio Comparison

The current FIDSX Sharpe Ratio is 0.52, which is comparable to the FNCL Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of FIDSX and FNCL, 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

FIDSX vs. FNCL - Drawdown Comparison

The maximum FIDSX drawdown since its inception was -74.26%, which is greater than FNCL's maximum drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for FIDSX and FNCL.

Drawdown Indicators

	FIDSX	FNCL	Difference
Max Drawdown Largest peak-to-trough decline	-74.26%	-44.38%	-29.88%
Max Drawdown (1Y) Largest decline over 1 year	-16.60%	-14.78%	-1.82%
Max Drawdown (3Y) Largest decline over 3 years	-19.44%	-17.29%	-2.15%
Max Drawdown (5Y) Largest decline over 5 years	-24.49%	-25.68%	+1.19%
Max Drawdown (10Y) Largest decline over 10 years	-45.48%	-44.38%	-1.10%
Current Drawdown Current decline from peak	-5.37%	-2.89%	-2.48%
Average Drawdown Average peak-to-trough decline	-13.94%	-6.90%	-7.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.83%	5.66%	+1.17%

Volatility

FIDSX vs. FNCL - Volatility Comparison

Fidelity Select Financial Services Portfolio (FIDSX) and Fidelity MSCI Financials Index ETF (FNCL) have volatilities of 4.53% and 4.41%, 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

	FIDSX	FNCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.53%	4.41%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	13.46%	11.31%	+2.15%
Volatility (1Y) Calculated over the trailing 1-year period	17.09%	14.95%	+2.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.90%	19.31%	+1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.69%	22.36%	+1.33%

FIDSX vs. FNCL - Expense Ratio Comparison

FIDSX has a 0.73% expense ratio, which is higher than FNCL's 0.08% expense ratio.

Dividends

FIDSX vs. FNCL - Dividend Comparison

FIDSX's dividend yield for the trailing twelve months is around 1.42%, less than FNCL's 1.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIDSX Fidelity Select Financial Services Portfolio	1.42%	1.70%	6.03%	3.01%	11.32%	4.12%	5.86%	5.57%	12.89%	4.22%	1.00%	0.70%
FNCL Fidelity MSCI Financials Index ETF	1.59%	1.45%	1.52%	1.91%	2.29%	1.75%	2.26%	2.17%	2.37%	1.60%	1.81%	2.17%

Frequently Asked Questions

Can I hold both FIDSX and FNCL in my portfolio?

With a correlation of 0.96, FIDSX and FNCL 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, FIDSX or FNCL?

FIDSX has higher volatility (4.53%) compared to FNCL (4.41%). In terms of maximum drawdown, FIDSX dropped -74.26% vs FNCL's -44.38%.

Which has better risk-adjusted returns?

FNCL currently has the higher Sharpe Ratio (0.71 vs 0.52), 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.