FSAGX vs. MIDSX

Last updated Aug 1, 2026

FSAGX (Fidelity Select Gold Portfolio) and MIDSX (Midas Discovery) are both mutual funds - FSAGX is a Gold fund managed by Fidelity, while MIDSX is a Precious Metals fund managed by Midas. Over the past 10 years, FSAGX returned 8.60%/yr vs 7.62%/yr for MIDSX. Their correlation of 0.90 means they have usually moved in the same direction. FSAGX charges 0.73%/yr vs 4.25%/yr for MIDSX.

Performance

FSAGX vs. MIDSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Gold Portfolio (FSAGX) and Midas Discovery (MIDSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSAGX achieves a -7.00% return, which is significantly higher than MIDSX's -8.60% return. Over the past 10 years, FSAGX has outperformed MIDSX with an annualized return of 8.60%, while MIDSX has yielded a comparatively lower 7.62% annualized return.

FSAGX

• 1D: 4.33%
• 1M: -1.70%
• 6M: -15.93%
• YTD: -7.00%
• 1Y: 45.29%
• 3Y*: 35.46%
• 5Y*: 15.42%
• 10Y*: 8.60%
• ALL TIME*: 6.57%

MIDSX

• 1D: 3.57%
• 1M: -5.06%
• 6M: -17.99%
• YTD: -8.60%
• 1Y: 59.50%
• 3Y*: 40.10%
• 5Y*: 18.07%
• 10Y*: 7.62%
• ALL TIME*: -0.88%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FSAGX Fidelity Select Gold Portfolio	$0.00	$0.00	$0.00
MIDSX Midas Discovery	$0.00	$0.00	$0.00

FSAGX vs. MIDSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSAGX Fidelity Select Gold Portfolio	-7.00%	143.05%	14.97%	-0.37%	-13.46%	-10.44%	26.83%	35.50%	-13.00%	8.63%
MIDSX Midas Discovery	-8.60%	195.76%	7.27%	-1.79%	-11.11%	-19.23%	10.64%	30.56%	-12.90%	5.98%

Correlation

The correlation between FSAGX and MIDSX is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.92
Correlation (All Time) Calculated using the full available price history since Nov 9, 1995	0.90

The correlation between FSAGX and MIDSX has been stable across timeframes, ranging from 0.90 to 0.97 - a consistent structural relationship.

Return for Risk

FSAGX vs. MIDSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FSAGX

FSAGX Risk / Return Rank: 30
FSAGX Sharpe Ratio Rank: 33
FSAGX Sortino Ratio Rank: 32
FSAGX Omega Ratio Rank: 35
FSAGX Calmar Ratio Rank: 29
FSAGX Martin Ratio Rank: 21

MIDSX

MIDSX Risk / Return Rank: 41
MIDSX Sharpe Ratio Rank: 50
MIDSX Sortino Ratio Rank: 42
MIDSX Omega Ratio Rank: 49
MIDSX Calmar Ratio Rank: 39
MIDSX Martin Ratio Rank: 26

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FSAGX vs. MIDSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Gold Portfolio (FSAGX) and Midas Discovery (MIDSX). 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.

	FSAGX	MIDSX	Difference
Sharpe ratio: Return per unit of total volatility	1.02	1.32	-0.30
Sortino ratio: Return per unit of downside risk	1.46	1.75	-0.29
Omega ratio: Gain probability vs. loss probability	1.20	1.24	-0.04
Calmar ratio: Return relative to maximum drawdown	1.24	1.60	-0.36
Martin ratio: Return relative to average drawdown	2.75	3.64	-0.90

FSAGX vs. MIDSX - Sharpe Ratio Comparison

The current FSAGX Sharpe Ratio is 1.02, which is comparable to the MIDSX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of FSAGX and MIDSX, 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

FSAGX vs. MIDSX - Drawdown Comparison

The maximum FSAGX drawdown since its inception was -77.21%, smaller than the maximum MIDSX drawdown of -89.77%. Use the drawdown chart below to compare losses from any high point for FSAGX and MIDSX.

Drawdown Indicators

	FSAGX	MIDSX	Difference
Max Drawdown Largest peak-to-trough decline	-77.21%	-89.77%	+12.56%
Max Drawdown (1Y) Largest decline over 1 year	-37.90%	-39.43%	+1.53%
Max Drawdown (3Y) Largest decline over 3 years	-37.90%	-39.43%	+1.53%
Max Drawdown (5Y) Largest decline over 5 years	-45.94%	-43.33%	-2.61%
Max Drawdown (10Y) Largest decline over 10 years	-50.57%	-57.07%	+6.50%
Current Drawdown Current decline from peak	-31.89%	-47.39%	+15.50%
Average Drawdown Average peak-to-trough decline	-33.34%	-63.42%	+30.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.13%	17.27%	-0.14%

Volatility

FSAGX vs. MIDSX - Volatility Comparison

The current volatility for Fidelity Select Gold Portfolio (FSAGX) is 12.39%, while Midas Discovery (MIDSX) has a volatility of 13.60%. This indicates that FSAGX experiences smaller price fluctuations and is considered to be less risky than MIDSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSAGX	MIDSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.39%	13.60%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	38.50%	40.14%	-1.64%
Volatility (1Y) Calculated over the trailing 1-year period	46.25%	47.72%	-1.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.53%	35.48%	-0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.42%	33.74%	-0.32%

FSAGX vs. MIDSX - Expense Ratio Comparison

FSAGX has a 0.73% expense ratio, which is lower than MIDSX's 4.25% expense ratio.

Dividends

FSAGX vs. MIDSX - Dividend Comparison

FSAGX's dividend yield for the trailing twelve months is around 5.52%, while MIDSX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FSAGX Fidelity Select Gold Portfolio	5.52%	2.17%	3.62%	0.99%	0.36%	1.60%	4.40%	0.40%	0.00%	0.22%	3.57%
MIDSX Midas Discovery	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSAGX and MIDSX in my portfolio?

With a correlation of 0.97, FSAGX and MIDSX 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.

Which is riskier, FSAGX or MIDSX?

MIDSX has higher volatility (13.60%) compared to FSAGX (12.39%). In terms of maximum drawdown, FSAGX dropped -77.21% vs MIDSX's -89.77%.

Which has better risk-adjusted returns?

MIDSX currently has the higher Sharpe Ratio (1.32 vs 1.02), 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.