FSAEX vs. ^GSPC
FSAEX (Fidelity Series All-Sector Equity Fund) is Large Cap Blend Equities fund managed by Fidelity, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, FSAEX returned 16.98%/yr vs 13.71%/yr for ^GSPC. With a 0.98 correlation, they move nearly in lockstep.
Performance
FSAEX vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, FSAEX achieves a 10.96% return, which is significantly higher than ^GSPC's 7.60% return. Over the past 10 years, FSAEX has outperformed ^GSPC with an annualized return of 16.98%, while ^GSPC has yielded a comparatively lower 13.71% annualized return.
FSAEX
- 1D
- -0.59%
- 1M
- 1.21%
- YTD
- 10.96%
- 6M
- 9.78%
- 1Y
- 27.21%
- 3Y*
- 23.62%
- 5Y*
- 14.62%
- 10Y*
- 16.98%
^GSPC
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
FSAEX vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSAEX Fidelity Series All-Sector Equity Fund | 10.96% | 19.80% | 26.86% | 30.61% | -18.55% | 26.89% | 26.23% | 32.18% | -6.56% | 21.64% |
^GSPC S&P 500 Index | 7.60% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between FSAEX and ^GSPC is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2008 | 0.98 |
The correlation between FSAEX and ^GSPC has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
FSAEX vs. ^GSPC — Risk / Return Rank
FSAEX
^GSPC
FSAEX vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series All-Sector Equity Fund (FSAEX) and S&P 500 Index (^GSPC). 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.
| FSAEX | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.32 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 2.46 | +0.45 |
| Martin ratioReturn relative to average drawdown | 12.84 | 10.92 | +1.92 |
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Drawdowns
FSAEX vs. ^GSPC - Drawdown Comparison
The maximum FSAEX drawdown since its inception was -34.55%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for FSAEX and ^GSPC.
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Drawdown Indicators
| FSAEX | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.55% | -56.78% | +22.23% |
Max Drawdown (1Y)Largest decline over 1 year | -9.83% | -9.10% | -0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -19.87% | -18.90% | -0.97% |
Max Drawdown (5Y)Largest decline over 5 years | -24.66% | -25.43% | +0.77% |
Max Drawdown (10Y)Largest decline over 10 years | -34.55% | -33.92% | -0.63% |
Current DrawdownCurrent decline from peak | -1.76% | -3.21% | +1.45% |
Average DrawdownAverage peak-to-trough decline | -4.55% | -10.71% | +6.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 2.04% | +0.18% |
Volatility
FSAEX vs. ^GSPC - Volatility Comparison
Fidelity Series All-Sector Equity Fund (FSAEX) has a higher volatility of 5.24% compared to S&P 500 Index (^GSPC) at 4.89%. This indicates that FSAEX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSAEX | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.24% | 4.89% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 10.66% | 9.93% | +0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.47% | 12.57% | +0.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.99% | 17.00% | +0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.86% | 18.08% | +0.78% |
Frequently Asked Questions
With a correlation of 0.98, FSAEX and ^GSPC 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.
FSAEX has higher volatility (5.24%) compared to ^GSPC (4.89%). In terms of maximum drawdown, FSAEX dropped -34.55% vs ^GSPC's -56.78%.
FSAEX currently has the higher Sharpe Ratio (2.12 vs 1.78), 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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