FMIFX vs. FSELX

Last updated Apr 1, 2026

Compare and contrast key facts about FMI International Fund II - Currency Unhedged Institutional Class (FMIFX) and Fidelity Select Semiconductors Portfolio (FSELX).

FMIFX is managed by Fidelity. It was launched on Dec 31, 2019. FSELX is managed by Fidelity. It was launched on Jul 29, 1985.

Performance

FMIFX vs. FSELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FMI International Fund II - Currency Unhedged Institutional Class (FMIFX) and Fidelity Select Semiconductors Portfolio (FSELX). The values are adjusted to include any dividend payments, if applicable.

FMIFX vs. FSELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FMIFX FMI International Fund II - Currency Unhedged Institutional Class	-7.75%	13.92%	2.22%	21.74%	-17.35%	9.20%	3.94%
FSELX Fidelity Select Semiconductors Portfolio	0.00%	52.17%	49.68%	78.49%	-35.27%	59.16%	44.33%

Returns By Period

FMIFX

• 1D: 0.10%
• 1M: -13.11%
• YTD: -7.75%
• 6M: -6.84%
• 1Y: 4.00%
• 3Y*: 5.78%
• 5Y*: 2.38%
• 10Y*: —

FSELX

• 1D: -4.27%
• 1M: -9.75%
• YTD: 0.00%
• 6M: 7.40%
• 1Y: 85.27%
• 3Y*: 43.05%
• 5Y*: 30.67%
• 10Y*: 31.42%

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

FMIFX vs. FSELX - Expense Ratio Comparison

FMIFX has a 0.90% expense ratio, which is higher than FSELX's 0.68% expense ratio.

FMIFX

FMI International Fund II - Currency Unhedged Institutional Class

FSELX

Fidelity Select Semiconductors Portfolio

Return for Risk

FMIFX vs. FSELX — Risk / Return Rank

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

FMIFX

FMIFX Risk / Return Rank: 8
FMIFX Sharpe Ratio Rank: 8
FMIFX Sortino Ratio Rank: 8
FMIFX Omega Ratio Rank: 8
FMIFX Calmar Ratio Rank: 9
FMIFX Martin Ratio Rank: 9

FSELX

FSELX Risk / Return Rank: 94
FSELX Sharpe Ratio Rank: 93
FSELX Sortino Ratio Rank: 92
FSELX Omega Ratio Rank: 89
FSELX Calmar Ratio Rank: 98
FSELX Martin Ratio Rank: 98

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.

FMIFX vs. FSELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FMI International Fund II - Currency Unhedged Institutional Class (FMIFX) 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.

	FMIFX	FSELX	Difference
Sharpe ratio Return per unit of total volatility	0.17	2.07	-1.90
Sortino ratio Return per unit of downside risk	0.37	2.72	-2.35
Omega ratio Gain probability vs. loss probability	1.05	1.38	-0.33
Calmar ratio Return relative to maximum drawdown	0.14	4.58	-4.43
Martin ratio Return relative to average drawdown	0.56	18.71	-18.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMIFX vs. FSELX - Sharpe Ratio Comparison

The current FMIFX Sharpe Ratio is 0.17, which is lower than the FSELX Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of FMIFX and FSELX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FMIFX	FSELX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.17	2.07	-1.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.80	-0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.49	-0.32

Correlation

The correlation between FMIFX and FSELX is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FMIFX vs. FSELX - Dividend Comparison

FMIFX's dividend yield for the trailing twelve months is around 6.56%, less than FSELX's 11.11% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMIFX FMI International Fund II - Currency Unhedged Institutional Class	6.56%	6.05%	2.30%	1.51%	1.41%	4.41%	0.85%	0.00%	0.00%	0.00%	0.00%	0.00%
FSELX Fidelity Select Semiconductors Portfolio	11.11%	11.11%	7.97%	7.20%	6.69%	6.99%	8.13%	3.36%	26.80%	14.44%	3.82%	15.22%

Drawdowns

FMIFX vs. FSELX - Drawdown Comparison

The maximum FMIFX drawdown since its inception was -39.39%, smaller than the maximum FSELX drawdown of -82.54%. Use the drawdown chart below to compare losses from any high point for FMIFX and FSELX.

Drawdown Indicators

	FMIFX	FSELX	Difference
Max Drawdown Largest peak-to-trough decline	-39.39%	-82.54%	+43.15%
Max Drawdown (1Y) Largest decline over 1 year	-15.17%	-17.23%	+2.06%
Max Drawdown (5Y) Largest decline over 5 years	-33.90%	-46.37%	+12.47%
Max Drawdown (10Y) Largest decline over 10 years	—	-46.37%	—
Current Drawdown Current decline from peak	-13.97%	-14.38%	+0.41%
Average Drawdown Average peak-to-trough decline	-8.47%	-28.82%	+20.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	4.21%	-0.35%

Volatility

FMIFX vs. FSELX - Volatility Comparison

The current volatility for FMI International Fund II - Currency Unhedged Institutional Class (FMIFX) is 6.64%, while Fidelity Select Semiconductors Portfolio (FSELX) has a volatility of 10.47%. This indicates that FMIFX 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

	FMIFX	FSELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.64%	10.47%	-3.83%
Volatility (6M) Calculated over the trailing 6-month period	10.97%	24.91%	-13.94%
Volatility (1Y) Calculated over the trailing 1-year period	17.65%	40.89%	-23.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.42%	38.58%	-23.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.63%	34.71%	-16.08%