FPHAX vs. JQUA

Last updated Jul 22, 2026

FPHAX (Fidelity Select Pharmaceuticals Portfolio) and JQUA (JPMorgan U.S. Quality Factor ETF) are both funds - FPHAX is a Health & Biotech Equities fund managed by Fidelity, while JQUA is a Large Cap Blend Equities fund tracking the JP Morgan US Quality Factor Index. Over the past 5 years, FPHAX returned 12.76%/yr vs 13.11%/yr for JQUA. A 0.56 correlation means they provide meaningful diversification when combined. FPHAX charges 0.75%/yr vs 0.12%/yr for JQUA.

Performance

FPHAX vs. JQUA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Pharmaceuticals Portfolio (FPHAX) and JPMorgan U.S. Quality Factor ETF (JQUA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FPHAX achieves a 11.23% return, which is significantly lower than JQUA's 14.58% return.

FPHAX

• 1D: -1.99%
• 1M: 2.69%
• 6M: 9.95%
• YTD: 11.23%
• 1Y: 43.29%
• 3Y*: 18.41%
• 5Y*: 12.76%
• 10Y*: 11.59%
• ALL TIME*: 9.58%

JQUA

• 1D: 0.56%
• 1M: 1.08%
• 6M: 14.42%
• YTD: 14.58%
• 1Y: 20.91%
• 3Y*: 18.22%
• 5Y*: 13.11%
• 10Y*: —
• ALL TIME*: 14.72%

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

FPHAX vs. JQUA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FPHAX Fidelity Select Pharmaceuticals Portfolio	11.23%	30.41%	9.39%	12.54%	0.94%	11.79%	11.16%	31.73%	5.41%	2.50%
JQUA JPMorgan U.S. Quality Factor ETF	14.58%	11.69%	21.21%	25.13%	-13.45%	28.68%	16.56%	28.47%	-2.98%	5.07%

Correlation

The correlation between FPHAX and JQUA is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Nov 9, 2017	0.56

Over the past year, the correlation between FPHAX and JQUA has dropped to 0.31 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.

Return for Risk

FPHAX vs. JQUA — Risk / Return Rank

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

FPHAX

FPHAX Risk / Return Rank: 81
FPHAX Sharpe Ratio Rank: 81
FPHAX Sortino Ratio Rank: 79
FPHAX Omega Ratio Rank: 73
FPHAX Calmar Ratio Rank: 94
FPHAX Martin Ratio Rank: 81

JQUA

JQUA Risk / Return Rank: 75
JQUA Sharpe Ratio Rank: 73
JQUA Sortino Ratio Rank: 73
JQUA Omega Ratio Rank: 69
JQUA Calmar Ratio Rank: 77
JQUA Martin Ratio Rank: 83

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.

FPHAX vs. JQUA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Pharmaceuticals Portfolio (FPHAX) and JPMorgan U.S. Quality Factor ETF (JQUA). 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	JQUA	Difference
Sharpe ratio: Return per unit of total volatility	2.07	1.75	+0.33
Sortino ratio: Return per unit of downside risk	2.94	2.48	+0.46
Omega ratio: Gain probability vs. loss probability	1.35	1.30	+0.04
Calmar ratio: Return relative to maximum drawdown	4.17	2.95	+1.22
Martin ratio: Return relative to average drawdown	11.17	12.01	-0.84

FPHAX vs. JQUA - Sharpe Ratio Comparison

The current FPHAX Sharpe Ratio is 2.07, which is comparable to the JQUA Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of FPHAX and JQUA, 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

FPHAX vs. JQUA - Drawdown Comparison

The maximum FPHAX drawdown since its inception was -38.26%, which is greater than JQUA's maximum drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for FPHAX and JQUA.

Drawdown Indicators

	FPHAX	JQUA	Difference
Max Drawdown Largest peak-to-trough decline	-38.26%	-32.92%	-5.34%
Max Drawdown (1Y) Largest decline over 1 year	-10.33%	-7.13%	-3.20%
Max Drawdown (3Y) Largest decline over 3 years	-28.82%	-16.81%	-12.01%
Max Drawdown (5Y) Largest decline over 5 years	-28.82%	-22.47%	-6.35%
Max Drawdown (10Y) Largest decline over 10 years	-28.82%	—	—
Current Drawdown Current decline from peak	-6.55%	-0.66%	-5.89%
Average Drawdown Average peak-to-trough decline	-9.14%	-4.12%	-5.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	1.75%	+2.10%

Volatility

FPHAX vs. JQUA - Volatility Comparison

Fidelity Select Pharmaceuticals Portfolio (FPHAX) has a higher volatility of 7.16% compared to JPMorgan U.S. Quality Factor ETF (JQUA) at 3.26%. This indicates that FPHAX's price experiences larger fluctuations and is considered to be riskier than JQUA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPHAX	JQUA	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.16%	3.26%	+3.90%
Volatility (6M) Calculated over the trailing 6-month period	15.16%	9.59%	+5.57%
Volatility (1Y) Calculated over the trailing 1-year period	20.82%	12.01%	+8.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.31%	15.73%	+2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.91%	17.95%	-0.04%

FPHAX vs. JQUA - Expense Ratio Comparison

FPHAX has a 0.75% expense ratio, which is higher than JQUA's 0.12% expense ratio.

Dividends

FPHAX vs. JQUA - Dividend Comparison

FPHAX's dividend yield for the trailing twelve months is around 5.00%, more than JQUA's 1.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPHAX Fidelity Select Pharmaceuticals Portfolio	5.00%	5.68%	1.90%	8.08%	5.18%	11.09%	8.85%	8.33%	1.65%	1.62%	1.07%	12.63%
JQUA JPMorgan U.S. Quality Factor ETF	1.09%	1.19%	1.24%	1.21%	1.60%	1.32%	1.44%	1.67%	2.10%	0.40%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FPHAX and JQUA in my portfolio?

FPHAX and JQUA have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FPHAX or JQUA?

FPHAX has higher volatility (7.16%) compared to JQUA (3.26%). In terms of maximum drawdown, FPHAX dropped -38.26% vs JQUA's -32.92%.

Which has better risk-adjusted returns?

FPHAX currently has the higher Sharpe Ratio (2.07 vs 1.75), 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.