FSCSX vs. VENAX

Last updated Jul 14, 2026

FSCSX (Fidelity Select Software & IT Services Portfolio) and VENAX (Vanguard Energy Index Fund Admiral Shares) are both mutual funds - FSCSX is a Technology Equities fund actively managed by Fidelity, while VENAX is a Energy Equities fund managed by Vanguard. Over the past 10 years, FSCSX returned 16.11%/yr vs 8.48%/yr for VENAX. At a 0.43 correlation, their price movements are largely independent. FSCSX charges 0.67%/yr vs 0.10%/yr for VENAX.

Performance

FSCSX vs. VENAX - Performance Comparison

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

Returns By Period

In the year-to-date period, FSCSX achieves a -11.28% return, which is significantly lower than VENAX's 25.09% return. Over the past 10 years, FSCSX has outperformed VENAX with an annualized return of 16.11%, while VENAX has yielded a comparatively lower 8.48% annualized return.

FSCSX

• 1D: -1.68%
• 1M: 3.08%
• 6M: -10.28%
• YTD: -11.28%
• 1Y: -9.76%
• 3Y*: 9.68%
• 5Y*: 4.63%
• 10Y*: 16.11%

VENAX

• 1D: 0.52%
• 1M: -3.56%
• 6M: 20.73%
• YTD: 25.09%
• 1Y: 27.93%
• 3Y*: 13.69%
• 5Y*: 19.92%
• 10Y*: 8.48%

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

FSCSX vs. VENAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSCSX Fidelity Select Software & IT Services Portfolio	-11.28%	6.96%	19.66%	51.72%	-29.13%	18.13%	45.55%	38.99%	4.08%	38.60%
VENAX Vanguard Energy Index Fund Admiral Shares	25.09%	7.29%	6.57%	0.05%	62.94%	55.57%	-33.27%	9.36%	-19.90%	-2.39%

Correlation

The correlation between FSCSX and VENAX is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Sep 29, 2004	0.43

The correlation between FSCSX and VENAX shifts across timeframes, from -0.04 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FSCSX vs. VENAX — Risk / Return Rank

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

FSCSX

FSCSX Risk / Return Rank: 2
FSCSX Sharpe Ratio Rank: 2
FSCSX Sortino Ratio Rank: 2
FSCSX Omega Ratio Rank: 2
FSCSX Calmar Ratio Rank: 2
FSCSX Martin Ratio Rank: 2

VENAX

VENAX Risk / Return Rank: 35
VENAX Sharpe Ratio Rank: 39
VENAX Sortino Ratio Rank: 35
VENAX Omega Ratio Rank: 33
VENAX Calmar Ratio Rank: 40
VENAX Martin Ratio Rank: 30

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. VENAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Software & IT Services Portfolio (FSCSX) and Vanguard Energy Index Fund Admiral Shares (VENAX). 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	VENAX	Difference
Sharpe ratio: Return per unit of total volatility	-0.39	1.39	-1.78
Sortino ratio: Return per unit of downside risk	-0.37	1.89	-2.26
Omega ratio: Gain probability vs. loss probability	0.96	1.23	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.33	1.91	-2.24
Martin ratio: Return relative to average drawdown	-0.70	5.26	-5.96

FSCSX vs. VENAX - Sharpe Ratio Comparison

The current FSCSX Sharpe Ratio is -0.39, which is lower than the VENAX Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of FSCSX and VENAX, 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

FSCSX vs. VENAX - Drawdown Comparison

The maximum FSCSX drawdown since its inception was -64.66%, smaller than the maximum VENAX drawdown of -74.42%. Use the drawdown chart below to compare losses from any high point for FSCSX and VENAX.

Drawdown Indicators

	FSCSX	VENAX	Difference
Max Drawdown Largest peak-to-trough decline	-64.66%	-74.42%	+9.76%
Max Drawdown (1Y) Largest decline over 1 year	-34.24%	-15.05%	-19.19%
Max Drawdown (3Y) Largest decline over 3 years	-34.24%	-21.44%	-12.80%
Max Drawdown (5Y) Largest decline over 5 years	-37.06%	-26.59%	-10.47%
Max Drawdown (10Y) Largest decline over 10 years	-37.06%	-69.58%	+32.52%
Current Drawdown Current decline from peak	-16.35%	-11.50%	-4.85%
Average Drawdown Average peak-to-trough decline	-13.23%	-19.94%	+6.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.21%	5.45%	+10.76%

Volatility

FSCSX vs. VENAX - Volatility Comparison

Fidelity Select Software & IT Services Portfolio (FSCSX) has a higher volatility of 7.99% compared to Vanguard Energy Index Fund Admiral Shares (VENAX) at 6.79%. This indicates that FSCSX's price experiences larger fluctuations and is considered to be riskier than VENAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSCSX	VENAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.99%	6.79%	+1.20%
Volatility (6M) Calculated over the trailing 6-month period	26.06%	16.59%	+9.47%
Volatility (1Y) Calculated over the trailing 1-year period	29.11%	20.73%	+8.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.70%	26.32%	+0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.68%	30.21%	-5.53%

FSCSX vs. VENAX - Expense Ratio Comparison

FSCSX has a 0.67% expense ratio, which is higher than VENAX's 0.10% expense ratio.

Dividends

FSCSX vs. VENAX - Dividend Comparison

FSCSX's dividend yield for the trailing twelve months is around 22.64%, more than VENAX's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSCSX Fidelity Select Software & IT Services Portfolio	22.64%	15.40%	19.17%	7.72%	9.06%	6.54%	5.10%	12.70%	6.20%	7.15%	3.98%	5.22%
VENAX Vanguard Energy Index Fund Admiral Shares	2.59%	3.10%	3.24%	3.34%	3.65%	3.80%	4.76%	3.41%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both FSCSX and VENAX in my portfolio?

FSCSX and VENAX have a correlation of -0.04, 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 VENAX?

FSCSX has higher volatility (7.99%) compared to VENAX (6.79%). In terms of maximum drawdown, FSCSX dropped -64.66% vs VENAX's -74.42%.

Which has better risk-adjusted returns?

VENAX currently has the higher Sharpe Ratio (1.39 vs -0.39), 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.