FMSFX vs. FSELX
FMSFX (Fidelity Mortgage Securities Fund) and FSELX (Fidelity Select Semiconductors Portfolio) are both mutual funds - FMSFX is a Total Bond Market fund managed by Fidelity, while FSELX is a Semiconductors fund managed by Fidelity. Over the past 10 years, FMSFX returned 1.12%/yr vs 35.08%/yr for FSELX. Their -0.02 correlation means they have often moved in opposite directions in the past. FMSFX charges 0.45%/yr vs 0.68%/yr for FSELX.
Performance
FMSFX vs. FSELX - Performance Comparison
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Returns By Period
In the year-to-date period, FMSFX achieves a -0.01% return, which is significantly lower than FSELX's 48.22% return. Over the past 10 years, FMSFX has underperformed FSELX with an annualized return of 1.12%, while FSELX has yielded a comparatively higher 35.08% annualized return.
FMSFX
- 1D
- 0.00%
- 1M
- -1.11%
- 6M
- -0.50%
- YTD
- -0.01%
- 1Y
- 3.39%
- 3Y*
- 4.14%
- 5Y*
- -0.13%
- 10Y*
- 1.12%
- ALL TIME*
- 4.13%
FSELX
- 1D
- 7.17%
- 1M
- -8.92%
- 6M
- 32.88%
- YTD
- 48.22%
- 1Y
- 83.24%
- 3Y*
- 50.94%
- 5Y*
- 38.34%
- 10Y*
- 35.08%
- ALL TIME*
- 16.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FMSFX vs. FSELX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMSFX Fidelity Mortgage Securities Fund | -0.01% | 8.29% | 1.00% | 4.91% | -12.61% | -1.20% | 4.41% | 6.43% | 0.79% | 2.35% |
FSELX Fidelity Select Semiconductors Portfolio | 48.22% | 52.17% | 49.68% | 78.49% | -35.27% | 59.16% | 44.33% | 64.50% | -12.01% | 34.51% |
Correlation
The correlation between FMSFX and FSELX is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (3Y) Balances recent behavior with more history. | 0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 1985 | -0.02 |
The correlation between FMSFX and FSELX shifts across timeframes, from -0.02 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FMSFX vs. FSELX — Risk / Return Rank
FMSFX
FSELX
FMSFX vs. FSELX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Mortgage Securities Fund (FMSFX) 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.
| FMSFX | FSELX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.31 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.64 | 2.90 | -1.25 |
| Martin ratioReturn relative to average drawdown | 4.58 | 12.21 | -7.63 |
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Drawdowns
FMSFX vs. FSELX - Drawdown Comparison
The maximum FMSFX drawdown since its inception was -18.81%, smaller than the maximum FSELX drawdown of -82.54%. Use the drawdown chart below to compare losses from any high point for FMSFX and FSELX.
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Drawdown Indicators
| FMSFX | FSELX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.81% | -82.54% | +63.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -26.87% | +24.06% |
Max Drawdown (3Y)Largest decline over 3 years | -6.97% | -36.31% | +29.34% |
Max Drawdown (5Y)Largest decline over 5 years | -18.59% | -46.37% | +27.78% |
Max Drawdown (10Y)Largest decline over 10 years | -18.81% | -46.37% | +27.56% |
Current DrawdownCurrent decline from peak | -2.07% | -21.63% | +19.56% |
Average DrawdownAverage peak-to-trough decline | -1.92% | -28.63% | +26.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 6.37% | -5.36% |
Volatility
FMSFX vs. FSELX - Volatility Comparison
The current volatility for Fidelity Mortgage Securities Fund (FMSFX) is 1.08%, while Fidelity Select Semiconductors Portfolio (FSELX) has a volatility of 16.75%. This indicates that FMSFX 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.
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Volatility by Period
| FMSFX | FSELX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.08% | 16.75% | -15.67% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 34.43% | -31.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.89% | 40.79% | -36.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.82% | 40.42% | -33.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.14% | 35.84% | -30.70% |
FMSFX vs. FSELX - Expense Ratio Comparison
FMSFX has a 0.45% expense ratio, which is lower than FSELX's 0.68% expense ratio.
Dividends
FMSFX vs. FSELX - Dividend Comparison
FMSFX's dividend yield for the trailing twelve months is around 3.60%, less than FSELX's 11.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMSFX Fidelity Mortgage Securities Fund | 3.60% | 3.93% | 4.12% | 3.50% | 1.43% | 0.62% | 2.40% | 2.62% | 2.57% | 2.60% | 2.65% | 2.05% |
FSELX Fidelity Select Semiconductors Portfolio | 11.05% | 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
FMSFX and FSELX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSELX has higher volatility (16.75%) compared to FMSFX (1.08%). In terms of maximum drawdown, FMSFX dropped -18.81% vs FSELX's -82.54%.
FSELX currently has the higher Sharpe Ratio (1.91 vs 1.19), 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.
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