FSCSX vs. FZROX
FSCSX (Fidelity Select Software & IT Services Portfolio) and FZROX (Fidelity ZERO Total Market Index Fund) are both mutual funds - FSCSX is a Technology Equities fund actively managed by Fidelity, while FZROX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, FSCSX returned 5.53%/yr vs 11.97%/yr for FZROX. Their correlation of 0.81 means they have usually moved in the same direction. FSCSX charges 0.67%/yr vs 0.00%/yr for FZROX.
Performance
FSCSX vs. FZROX - Performance Comparison
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Returns By Period
In the year-to-date period, FSCSX achieves a -6.42% return, which is significantly lower than FZROX's 10.58% return.
FSCSX
- 1D
- 1.65%
- 1M
- 5.07%
- 6M
- 10.18%
- YTD
- -6.42%
- 1Y
- -5.96%
- 3Y*
- 10.41%
- 5Y*
- 5.53%
- 10Y*
- 16.32%
- ALL TIME*
- 15.58%
FZROX
- 1D
- 0.58%
- 1M
- -0.15%
- 6M
- 8.29%
- YTD
- 10.58%
- 1Y
- 21.91%
- 3Y*
- 19.06%
- 5Y*
- 11.97%
- 10Y*
- —
- ALL TIME*
- 14.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FSCSX vs. FZROX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FSCSX Fidelity Select Software & IT Services Portfolio | -6.42% | 6.96% | 19.66% | 51.72% | -29.13% | 18.13% | 45.55% | 38.99% | -12.32% |
FZROX Fidelity ZERO Total Market Index Fund | 10.58% | 17.23% | 23.94% | 26.20% | -19.21% | 26.00% | 20.51% | 31.15% | -12.72% |
Correlation
The correlation between FSCSX and FZROX is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.52 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018 | 0.81 |
Over the past year, the correlation between FSCSX and FZROX has dropped to 0.52 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.
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Return for Risk
FSCSX vs. FZROX — Risk / Return Rank
FSCSX
FZROX
FSCSX vs. FZROX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Software & IT Services Portfolio (FSCSX) and Fidelity ZERO Total Market Index Fund (FZROX). 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.
| FSCSX | FZROX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.80 | ||
| Sortino ratioReturn per unit of downside risk | -2.32 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.27 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 2.24 | -2.49 |
| Martin ratioReturn relative to average drawdown | -0.51 | 9.70 | -10.21 |
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Drawdowns
FSCSX vs. FZROX - Drawdown Comparison
The maximum FSCSX drawdown since its inception was -64.66%, which is greater than FZROX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for FSCSX and FZROX.
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Drawdown Indicators
| FSCSX | FZROX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.66% | -34.96% | -29.70% |
Max Drawdown (1Y)Largest decline over 1 year | -34.24% | -8.89% | -25.35% |
Max Drawdown (3Y)Largest decline over 3 years | -34.24% | -19.38% | -14.86% |
Max Drawdown (5Y)Largest decline over 5 years | -37.06% | -25.12% | -11.94% |
Max Drawdown (10Y)Largest decline over 10 years | -37.06% | — | — |
Current DrawdownCurrent decline from peak | -11.77% | -1.28% | -10.49% |
Average DrawdownAverage peak-to-trough decline | -13.24% | -5.43% | -7.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.66% | 2.06% | +14.60% |
Volatility
FSCSX vs. FZROX - Volatility Comparison
Fidelity Select Software & IT Services Portfolio (FSCSX) has a higher volatility of 7.36% compared to Fidelity ZERO Total Market Index Fund (FZROX) at 3.48%. This indicates that FSCSX's price experiences larger fluctuations and is considered to be riskier than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSCSX | FZROX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.36% | 3.48% | +3.88% |
Volatility (6M)Calculated over the trailing 6-month period | 25.36% | 10.35% | +15.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.68% | 13.20% | +16.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.84% | 17.54% | +9.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.76% | 20.03% | +4.73% |
FSCSX vs. FZROX - Expense Ratio Comparison
FSCSX has a 0.67% expense ratio, which is higher than FZROX's 0.00% expense ratio.
Dividends
FSCSX vs. FZROX - Dividend Comparison
FSCSX's dividend yield for the trailing twelve months is around 21.47%, more than FZROX's 0.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSCSX Fidelity Select Software & IT Services Portfolio | 21.47% | 15.40% | 19.17% | 7.72% | 9.06% | 6.54% | 5.10% | 12.70% | 6.20% | 7.15% | 3.98% | 5.22% |
FZROX Fidelity ZERO Total Market Index Fund | 0.93% | 1.02% | 1.16% | 1.36% | 1.57% | 1.25% | 1.27% | 1.51% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FSCSX and FZROX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSCSX has higher volatility (7.36%) compared to FZROX (3.48%). In terms of maximum drawdown, FSCSX dropped -64.66% vs FZROX's -34.96%.
FZROX currently has the higher Sharpe Ratio (1.51 vs -0.29), 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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