FSBDX vs. SMH

Last updated Jun 3, 2026

FSBDX (Fidelity Series Blue Chip Growth Fund) and SMH (VanEck Semiconductor ETF) are both funds - FSBDX is a Large Cap Growth Equities fund managed by Fidelity, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, FSBDX returned 22.67%/yr vs 37.55%/yr for SMH. Their correlation of 0.82 suggests significant overlap in exposure. FSBDX charges 0.00%/yr vs 0.35%/yr for SMH.

Performance

FSBDX vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Blue Chip Growth Fund (FSBDX) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSBDX achieves a 18.41% return, which is significantly lower than SMH's 75.55% return. Over the past 10 years, FSBDX has underperformed SMH with an annualized return of 22.67%, while SMH has yielded a comparatively higher 37.55% annualized return.

FSBDX

• 1D: 0.93%
• 1M: 8.71%
• YTD: 18.41%
• 6M: 19.62%
• 1Y: 46.21%
• 3Y*: 32.92%
• 5Y*: 17.44%
• 10Y*: 22.67%

SMH

• 1D: 4.01%
• 1M: 24.01%
• YTD: 75.55%
• 6M: 76.44%
• 1Y: 160.66%
• 3Y*: 63.68%
• 5Y*: 39.58%
• 10Y*: 37.55%

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

FSBDX vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSBDX Fidelity Series Blue Chip Growth Fund	18.41%	20.31%	39.76%	57.42%	-37.20%	22.53%	62.77%	33.24%	4.53%	35.27%
SMH VanEck Semiconductor ETF	75.55%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	38.48%

Correlation

The correlation between FSBDX and SMH is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Nov 20, 2013	0.82

The correlation between FSBDX and SMH has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

Return for Risk

FSBDX vs. SMH — Risk / Return Rank

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

FSBDX

FSBDX Risk / Return Rank: 78
FSBDX Sharpe Ratio Rank: 85
FSBDX Sortino Ratio Rank: 70
FSBDX Omega Ratio Rank: 68
FSBDX Calmar Ratio Rank: 82
FSBDX Martin Ratio Rank: 84

SMH

SMH Risk / Return Rank: 96
SMH Sharpe Ratio Rank: 98
SMH Sortino Ratio Rank: 95
SMH Omega Ratio Rank: 95
SMH Calmar Ratio Rank: 97
SMH Martin Ratio Rank: 97

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.

FSBDX vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Blue Chip Growth Fund (FSBDX) and VanEck Semiconductor ETF (SMH). 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.

	FSBDX	SMH	Difference
Sharpe ratio Return per unit of total volatility	2.74	5.29	-2.55
Sortino ratio Return per unit of downside risk	3.50	5.29	-1.79
Omega ratio Gain probability vs. loss probability	1.46	1.73	-0.27
Calmar ratio Return relative to maximum drawdown	3.78	11.02	-7.24
Martin ratio Return relative to average drawdown	15.94	42.34	-26.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSBDX vs. SMH - Sharpe Ratio Comparison

The current FSBDX Sharpe Ratio is 2.74, which is lower than the SMH Sharpe Ratio of 5.29. The chart below compares the historical Sharpe Ratios of FSBDX and SMH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FSBDX	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.74	5.29	-2.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	1.14	-0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.97	1.16	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.34	+0.56

Drawdowns

FSBDX vs. SMH - Drawdown Comparison

The maximum FSBDX drawdown since its inception was -42.25%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for FSBDX and SMH.

Drawdown Indicators

	FSBDX	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-42.25%	-84.96%	+42.71%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	-14.93%	+2.52%
Max Drawdown (3Y) Largest decline over 3 years	-27.09%	-35.74%	+8.65%
Max Drawdown (5Y) Largest decline over 5 years	-42.25%	-45.30%	+3.05%
Max Drawdown (10Y) Largest decline over 10 years	-42.25%	-45.30%	+3.05%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.24%	-41.09%	+33.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	3.89%	-0.95%

Volatility

FSBDX vs. SMH - Volatility Comparison

The current volatility for Fidelity Series Blue Chip Growth Fund (FSBDX) is 4.21%, while VanEck Semiconductor ETF (SMH) has a volatility of 11.59%. This indicates that FSBDX experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSBDX	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	11.59%	-7.38%
Volatility (6M) Calculated over the trailing 6-month period	12.98%	24.29%	-11.31%
Volatility (1Y) Calculated over the trailing 1-year period	17.45%	30.57%	-13.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.78%	35.02%	-10.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.51%	32.58%	-9.07%

FSBDX vs. SMH - Expense Ratio Comparison

FSBDX has a 0.00% expense ratio, which is lower than SMH's 0.35% expense ratio.

Dividends

FSBDX vs. SMH - Dividend Comparison

FSBDX's dividend yield for the trailing twelve months is around 3.15%, more than SMH's 0.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSBDX Fidelity Series Blue Chip Growth Fund	3.15%	3.73%	8.92%	0.54%	3.93%	24.67%	40.16%	11.36%	15.87%	10.80%	1.41%	13.10%
SMH VanEck Semiconductor ETF	0.17%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%

Frequently Asked Questions

Can I hold both FSBDX and SMH in my portfolio?

FSBDX and SMH have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSBDX or SMH?

SMH has higher volatility (11.59%) compared to FSBDX (4.21%). In terms of maximum drawdown, FSBDX dropped -42.25% vs SMH's -84.96%.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (5.29 vs 2.74), 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.