FPHAX vs. IHE
FPHAX (Fidelity Select Pharmaceuticals Portfolio) and IHE (iShares U.S. Pharmaceuticals ETF) are both Health & Biotech Equities funds. Over the past 10 years, FPHAX returned 12.03%/yr vs 8.74%/yr for IHE. Their correlation of 0.89 suggests significant overlap in exposure. FPHAX charges 0.75%/yr vs 0.38%/yr for IHE.
Performance
FPHAX vs. IHE - Performance Comparison
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Returns By Period
In the year-to-date period, FPHAX achieves a 14.61% return, which is significantly lower than IHE's 18.61% return. Over the past 10 years, FPHAX has outperformed IHE with an annualized return of 12.03%, while IHE has yielded a comparatively lower 8.74% annualized return.
FPHAX
- 1D
- -2.10%
- 1M
- 2.49%
- 6M
- 12.61%
- YTD
- 14.61%
- 1Y
- 44.31%
- 3Y*
- 21.13%
- 5Y*
- 13.21%
- 10Y*
- 12.03%
IHE
- 1D
- -0.52%
- 1M
- 5.85%
- 6M
- 17.45%
- YTD
- 18.61%
- 1Y
- 51.48%
- 3Y*
- 21.44%
- 5Y*
- 11.79%
- 10Y*
- 8.74%
FPHAX vs. IHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPHAX Fidelity Select Pharmaceuticals Portfolio | 14.61% | 30.41% | 9.39% | 12.54% | 0.94% | 11.79% | 11.16% | 31.73% | 5.41% | 10.70% |
IHE iShares U.S. Pharmaceuticals ETF | 18.61% | 31.69% | 8.13% | 1.06% | -4.87% | 13.07% | 13.66% | 15.47% | -7.76% | 10.64% |
Correlation
The correlation between FPHAX and IHE is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since May 5, 2006 | 0.89 |
The correlation between FPHAX and IHE has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.
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Return for Risk
FPHAX vs. IHE — Risk / Return Rank
FPHAX
IHE
FPHAX vs. IHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Pharmaceuticals Portfolio (FPHAX) and iShares U.S. Pharmaceuticals ETF (IHE). 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.
| FPHAX | IHE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.48 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 6.11 | -1.97 |
| Martin ratioReturn relative to average drawdown | 11.30 | 18.66 | -7.36 |
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Drawdowns
FPHAX vs. IHE - Drawdown Comparison
The maximum FPHAX drawdown since its inception was -38.26%, roughly equal to the maximum IHE drawdown of -38.20%. Use the drawdown chart below to compare losses from any high point for FPHAX and IHE.
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Drawdown Indicators
| FPHAX | IHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.26% | -38.20% | -0.06% |
Max Drawdown (1Y)Largest decline over 1 year | -10.33% | -8.47% | -1.86% |
Max Drawdown (3Y)Largest decline over 3 years | -28.82% | -15.92% | -12.90% |
Max Drawdown (5Y)Largest decline over 5 years | -28.82% | -16.03% | -12.79% |
Max Drawdown (10Y)Largest decline over 10 years | -28.82% | -29.59% | +0.77% |
Current DrawdownCurrent decline from peak | -3.71% | -3.32% | -0.39% |
Average DrawdownAverage peak-to-trough decline | -9.14% | -7.88% | -1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.78% | 2.77% | +1.01% |
Volatility
FPHAX vs. IHE - Volatility Comparison
Fidelity Select Pharmaceuticals Portfolio (FPHAX) has a higher volatility of 7.19% compared to iShares U.S. Pharmaceuticals ETF (IHE) at 6.74%. This indicates that FPHAX's price experiences larger fluctuations and is considered to be riskier than IHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPHAX | IHE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.19% | 6.74% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 15.17% | 13.69% | +1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.84% | 18.09% | +2.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.28% | 16.48% | +1.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.90% | 18.06% | -0.16% |
FPHAX vs. IHE - Expense Ratio Comparison
FPHAX has a 0.75% expense ratio, which is higher than IHE's 0.38% expense ratio.
Dividends
FPHAX vs. IHE - Dividend Comparison
FPHAX's dividend yield for the trailing twelve months is around 4.85%, more than IHE's 1.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPHAX Fidelity Select Pharmaceuticals Portfolio | 4.85% | 5.68% | 1.90% | 8.08% | 5.18% | 11.09% | 8.85% | 8.33% | 1.65% | 1.62% | 1.07% | 12.63% |
IHE iShares U.S. Pharmaceuticals ETF | 1.47% | 1.76% | 1.73% | 1.39% | 2.01% | 1.49% | 1.19% | 1.40% | 1.25% | 1.36% | 0.92% | 1.93% |
Frequently Asked Questions
With a correlation of 0.91, FPHAX and IHE 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.
FPHAX has higher volatility (7.19%) compared to IHE (6.74%). In terms of maximum drawdown, FPHAX dropped -38.26% vs IHE's -38.20%.
IHE currently has the higher Sharpe Ratio (2.87 vs 2.05), 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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