FSCSX vs. FCBFX

Last updated Jun 4, 2026

FSCSX (Fidelity Select Software & IT Services Portfolio) and FCBFX (Fidelity Corporate Bond Fund) are both mutual funds - FSCSX is a Technology Equities fund managed by Fidelity, while FCBFX is a Corporate Bonds fund managed by Fidelity. Over the past 10 years, FSCSX returned 17.45%/yr vs 2.77%/yr for FCBFX. At a correlation of -0.06, they often move in opposite directions. FSCSX charges 0.67%/yr vs 0.44%/yr for FCBFX.

Performance

FSCSX vs. FCBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Software & IT Services Portfolio (FSCSX) and Fidelity Corporate Bond Fund (FCBFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSCSX achieves a -1.64% return, which is significantly lower than FCBFX's 0.65% return. Over the past 10 years, FSCSX has outperformed FCBFX with an annualized return of 17.45%, while FCBFX has yielded a comparatively lower 2.77% annualized return.

FSCSX

• 1D: -3.21%
• 1M: 17.97%
• YTD: -1.64%
• 6M: -1.31%
• 1Y: 0.99%
• 3Y*: 14.73%
• 5Y*: 8.73%
• 10Y*: 17.45%

FCBFX

• 1D: 0.09%
• 1M: 0.94%
• YTD: 0.65%
• 6M: 0.57%
• 1Y: 6.30%
• 3Y*: 5.69%
• 5Y*: 0.52%
• 10Y*: 2.77%

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

FSCSX vs. FCBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSCSX Fidelity Select Software & IT Services Portfolio	-1.64%	6.96%	19.66%	51.72%	-29.13%	18.13%	45.55%	38.99%	4.08%	38.60%
FCBFX Fidelity Corporate Bond Fund	0.65%	7.86%	2.82%	8.82%	-17.11%	-1.59%	10.59%	14.48%	-2.56%	6.83%

Correlation

The correlation between FSCSX and FCBFX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since May 6, 2010	-0.06

The correlation between FSCSX and FCBFX shifts across timeframes, from -0.06 (all time) to 0.16 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FSCSX vs. FCBFX — Risk / Return Rank

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

FSCSX

FSCSX Risk / Return Rank: 3
FSCSX Sharpe Ratio Rank: 3
FSCSX Sortino Ratio Rank: 3
FSCSX Omega Ratio Rank: 3
FSCSX Calmar Ratio Rank: 3
FSCSX Martin Ratio Rank: 3

FCBFX

FCBFX Risk / Return Rank: 27
FCBFX Sharpe Ratio Rank: 28
FCBFX Sortino Ratio Rank: 28
FCBFX Omega Ratio Rank: 26
FCBFX Calmar Ratio Rank: 27
FCBFX Martin Ratio Rank: 26

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.

FSCSX vs. FCBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Software & IT Services Portfolio (FSCSX) and Fidelity Corporate Bond Fund (FCBFX). 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.

	FSCSX	FCBFX	Difference
Sharpe ratio: Return per unit of total volatility	0.06	1.49	-1.43
Sortino ratio: Return per unit of downside risk	0.28	2.20	-1.91
Omega ratio: Gain probability vs. loss probability	1.04	1.27	-0.23
Calmar ratio: Return relative to maximum drawdown	0.05	1.94	-1.89
Martin ratio: Return relative to average drawdown	0.12	6.31	-6.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSCSX vs. FCBFX - Sharpe Ratio Comparison

The current FSCSX Sharpe Ratio is 0.06, which is lower than the FCBFX Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of FSCSX and FCBFX, 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

	FSCSX	FCBFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.06	1.49	-1.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.08	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.47	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.71	-0.10

Drawdowns

FSCSX vs. FCBFX - Drawdown Comparison

The maximum FSCSX drawdown since its inception was -64.66%, which is greater than FCBFX's maximum drawdown of -23.23%. Use the drawdown chart below to compare losses from any high point for FSCSX and FCBFX.

Drawdown Indicators

	FSCSX	FCBFX	Difference
Max Drawdown Largest peak-to-trough decline	-64.66%	-23.23%	-41.43%
Max Drawdown (1Y) Largest decline over 1 year	-34.24%	-3.31%	-30.93%
Max Drawdown (3Y) Largest decline over 3 years	-34.24%	-6.57%	-27.67%
Max Drawdown (5Y) Largest decline over 5 years	-37.06%	-23.21%	-13.85%
Max Drawdown (10Y) Largest decline over 10 years	-37.06%	-23.23%	-13.83%
Current Drawdown Current decline from peak	-7.26%	-0.94%	-6.32%
Average Drawdown Average peak-to-trough decline	-13.22%	-3.98%	-9.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.16%	1.02%	+14.14%

Volatility

FSCSX vs. FCBFX - Volatility Comparison

Fidelity Select Software & IT Services Portfolio (FSCSX) has a higher volatility of 11.05% compared to Fidelity Corporate Bond Fund (FCBFX) at 1.46%. This indicates that FSCSX's price experiences larger fluctuations and is considered to be riskier than FCBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSCSX	FCBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.05%	1.46%	+9.59%
Volatility (6M) Calculated over the trailing 6-month period	24.77%	3.14%	+21.63%
Volatility (1Y) Calculated over the trailing 1-year period	27.77%	4.31%	+23.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.38%	6.69%	+19.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.57%	5.95%	+18.62%

FSCSX vs. FCBFX - Expense Ratio Comparison

FSCSX has a 0.67% expense ratio, which is higher than FCBFX's 0.44% expense ratio.

Dividends

FSCSX vs. FCBFX - Dividend Comparison

FSCSX's dividend yield for the trailing twelve months is around 20.42%, more than FCBFX's 4.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCBFX Fidelity Corporate Bond Fund	4.23%	4.11%	3.95%	3.74%	2.53%	2.82%	3.19%	3.28%	3.65%	3.16%	3.55%	3.01%
FSCSX Fidelity Select Software & IT Services Portfolio	20.42%	15.40%	19.17%	7.72%	9.06%	6.54%	5.10%	12.70%	6.20%	7.15%	3.98%	5.22%

Frequently Asked Questions

Can I hold both FSCSX and FCBFX in my portfolio?

FSCSX and FCBFX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSCSX or FCBFX?

FSCSX has higher volatility (11.05%) compared to FCBFX (1.46%). In terms of maximum drawdown, FSCSX dropped -64.66% vs FCBFX's -23.23%.

Which has better risk-adjusted returns?

FCBFX currently has the higher Sharpe Ratio (1.49 vs 0.06), 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.