FSDAX vs. IDEF
FSDAX (Fidelity Select Defense & Aerospace Portfolio) and IDEF (iShares Defense Industrials Active ETF) are both funds - FSDAX is a Industrials Equities fund managed by Fidelity, while IDEF is a Aerospace & Defense fund actively managed by iShares. Over the past year, FSDAX returned 25.92% vs 21.86% for IDEF. Their correlation of 0.82 suggests significant overlap in exposure. FSDAX charges 0.74%/yr vs 0.55%/yr for IDEF.
Performance
FSDAX vs. IDEF - Performance Comparison
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Returns By Period
In the year-to-date period, FSDAX achieves a 6.65% return, which is significantly higher than IDEF's 4.74% 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%
IDEF
- 1D
- -2.54%
- 1M
- -2.65%
- YTD
- 4.74%
- 6M
- 9.45%
- 1Y
- 21.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FSDAX vs. IDEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FSDAX Fidelity Select Defense & Aerospace Portfolio | 6.65% | 23.95% |
IDEF iShares Defense Industrials Active ETF | 4.74% | 23.05% |
Correlation
The correlation between FSDAX and IDEF is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since May 22, 2025 | 0.82 |
The correlation between FSDAX and IDEF has been stable across timeframes, ranging from 0.82 to 0.82 - a consistent structural relationship.
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Return for Risk
FSDAX vs. IDEF — Risk / Return Rank
FSDAX
IDEF
FSDAX vs. IDEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Defense & Aerospace Portfolio (FSDAX) and iShares Defense Industrials Active ETF (IDEF). 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 | IDEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.18 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 1.50 | +0.17 |
| Martin ratioReturn relative to average drawdown | 4.87 | 3.90 | +0.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FSDAX | IDEF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 1.04 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 1.33 | -0.69 |
Drawdowns
FSDAX vs. IDEF - Drawdown Comparison
The maximum FSDAX drawdown since its inception was -60.59%, which is greater than IDEF's maximum drawdown of -14.63%. Use the drawdown chart below to compare losses from any high point for FSDAX and IDEF.
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Drawdown Indicators
| FSDAX | IDEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.59% | -14.63% | -45.96% |
Max Drawdown (1Y)Largest decline over 1 year | -16.13% | -14.63% | -1.50% |
Max Drawdown (3Y)Largest decline over 3 years | -16.13% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.84% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.08% | — | — |
Current DrawdownCurrent decline from peak | -7.26% | -12.31% | +5.05% |
Average DrawdownAverage peak-to-trough decline | -10.45% | -3.90% | -6.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.52% | 5.61% | -0.09% |
Volatility
FSDAX vs. IDEF - Volatility Comparison
The current volatility for Fidelity Select Defense & Aerospace Portfolio (FSDAX) is 7.45%, while iShares Defense Industrials Active ETF (IDEF) has a volatility of 7.87%. This indicates that FSDAX experiences smaller price fluctuations and is considered to be less risky than IDEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSDAX | IDEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.45% | 7.87% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 18.25% | 17.98% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.08% | 21.15% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.42% | 21.07% | -0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.35% | 21.07% | +1.28% |
FSDAX vs. IDEF - Expense Ratio Comparison
FSDAX has a 0.74% expense ratio, which is higher than IDEF's 0.55% expense ratio.
Dividends
FSDAX vs. IDEF - Dividend Comparison
FSDAX's dividend yield for the trailing twelve months is around 2.14%, more than IDEF's 0.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IDEF iShares Defense Industrials Active ETF | 0.16% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FSDAX and IDEF have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IDEF has higher volatility (7.87%) compared to FSDAX (7.45%). In terms of maximum drawdown, FSDAX dropped -60.59% vs IDEF's -14.63%.
FSDAX currently has the higher Sharpe Ratio (1.28 vs 1.04), 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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