FSDAX vs. FFGCX

Last updated Jun 4, 2026

FSDAX (Fidelity Select Defense & Aerospace Portfolio) and FFGCX (Fidelity Global Commodity Stock Fund) are both mutual funds - FSDAX is a Industrials Equities fund managed by Fidelity, while FFGCX is a Commodities fund managed by Fidelity. Over the past 10 years, FSDAX returned 15.44%/yr vs 13.04%/yr for FFGCX. A 0.59 correlation means they provide meaningful diversification when combined. FSDAX charges 0.74%/yr vs 0.94%/yr for FFGCX.

Performance

FSDAX vs. FFGCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Defense & Aerospace Portfolio (FSDAX) and Fidelity Global Commodity Stock Fund (FFGCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSDAX achieves a 6.65% return, which is significantly lower than FFGCX's 24.64% return. Over the past 10 years, FSDAX has outperformed FFGCX with an annualized return of 15.44%, while FFGCX has yielded a comparatively lower 13.04% annualized return.

FSDAX

• 1D: -0.94%
• 1M: 6.67%
• YTD: 6.65%
• 6M: 13.89%
• 1Y: 25.92%
• 3Y*: 28.42%
• 5Y*: 16.23%
• 10Y*: 15.44%

FFGCX

• 1D: 1.30%
• 1M: 0.79%
• YTD: 24.64%
• 6M: 27.09%
• 1Y: 52.31%
• 3Y*: 20.10%
• 5Y*: 13.70%
• 10Y*: 13.04%

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

FSDAX vs. FFGCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSDAX Fidelity Select Defense & Aerospace Portfolio	6.65%	50.03%	15.83%	16.29%	6.83%	4.91%	-7.87%	33.75%	-6.83%	34.15%
FFGCX Fidelity Global Commodity Stock Fund	24.64%	28.66%	2.98%	-5.18%	20.69%	26.08%	6.04%	17.82%	-13.21%	17.18%

Correlation

The correlation between FSDAX and FFGCX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Mar 27, 2009	0.59

Over the past year, the correlation between FSDAX and FFGCX has dropped to 0.17 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

Return for Risk

FSDAX vs. FFGCX — Risk / Return Rank

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

FSDAX

FSDAX Risk / Return Rank: 19
FSDAX Sharpe Ratio Rank: 20
FSDAX Sortino Ratio Rank: 20
FSDAX Omega Ratio Rank: 19
FSDAX Calmar Ratio Rank: 20
FSDAX Martin Ratio Rank: 17

FFGCX

FFGCX Risk / Return Rank: 91
FFGCX Sharpe Ratio Rank: 93
FFGCX Sortino Ratio Rank: 86
FFGCX Omega Ratio Rank: 82
FFGCX Calmar Ratio Rank: 97
FFGCX 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.

FSDAX vs. FFGCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Defense & Aerospace Portfolio (FSDAX) and Fidelity Global Commodity Stock Fund (FFGCX). 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.

	FSDAX	FFGCX	Difference
Sharpe ratio: Return per unit of total volatility	1.28	3.21	-1.93
Sortino ratio: Return per unit of downside risk	1.88	4.04	-2.16
Omega ratio: Gain probability vs. loss probability	1.23	1.54	-0.31
Calmar ratio: Return relative to maximum drawdown	1.67	7.09	-5.42
Martin ratio: Return relative to average drawdown	4.87	25.64	-20.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSDAX vs. FFGCX - Sharpe Ratio Comparison

The current FSDAX Sharpe Ratio is 1.28, which is lower than the FFGCX Sharpe Ratio of 3.21. The chart below compares the historical Sharpe Ratios of FSDAX and FFGCX, 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

	FSDAX	FFGCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	3.21	-1.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.64	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.58	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.35	+0.29

Drawdowns

FSDAX vs. FFGCX - Drawdown Comparison

The maximum FSDAX drawdown since its inception was -60.59%, which is greater than FFGCX's maximum drawdown of -57.23%. Use the drawdown chart below to compare losses from any high point for FSDAX and FFGCX.

Drawdown Indicators

	FSDAX	FFGCX	Difference
Max Drawdown Largest peak-to-trough decline	-60.59%	-57.23%	-3.36%
Max Drawdown (1Y) Largest decline over 1 year	-16.13%	-7.38%	-8.75%
Max Drawdown (3Y) Largest decline over 3 years	-16.13%	-19.24%	+3.11%
Max Drawdown (5Y) Largest decline over 5 years	-22.84%	-27.22%	+4.38%
Max Drawdown (10Y) Largest decline over 10 years	-47.08%	-48.43%	+1.35%
Current Drawdown Current decline from peak	-7.26%	-1.58%	-5.68%
Average Drawdown Average peak-to-trough decline	-10.45%	-19.37%	+8.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.52%	2.04%	+3.48%

Volatility

FSDAX vs. FFGCX - Volatility Comparison

Fidelity Select Defense & Aerospace Portfolio (FSDAX) has a higher volatility of 7.45% compared to Fidelity Global Commodity Stock Fund (FFGCX) at 4.35%. This indicates that FSDAX's price experiences larger fluctuations and is considered to be riskier than FFGCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSDAX	FFGCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.45%	4.35%	+3.10%
Volatility (6M) Calculated over the trailing 6-month period	18.25%	13.28%	+4.97%
Volatility (1Y) Calculated over the trailing 1-year period	21.08%	16.34%	+4.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.42%	21.37%	-0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.35%	22.43%	-0.08%

FSDAX vs. FFGCX - Expense Ratio Comparison

FSDAX has a 0.74% expense ratio, which is lower than FFGCX's 0.94% expense ratio.

Dividends

FSDAX vs. FFGCX - Dividend Comparison

FSDAX's dividend yield for the trailing twelve months is around 2.14%, more than FFGCX's 2.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFGCX Fidelity Global Commodity Stock Fund	2.03%	2.53%	2.62%	2.01%	1.84%	3.39%	1.61%	2.98%	2.22%	0.36%	1.53%	2.86%
FSDAX Fidelity Select Defense & Aerospace Portfolio	2.14%	4.48%	7.68%	6.47%	8.87%	8.38%	2.11%	2.62%	11.45%	3.57%	4.87%	6.30%

Frequently Asked Questions

Can I hold both FSDAX and FFGCX in my portfolio?

FSDAX and FFGCX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSDAX or FFGCX?

FSDAX has higher volatility (7.45%) compared to FFGCX (4.35%). In terms of maximum drawdown, FSDAX dropped -60.59% vs FFGCX's -57.23%.

Which has better risk-adjusted returns?

FFGCX currently has the higher Sharpe Ratio (3.21 vs 1.28), 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.