FSDAX vs. IDEF

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Select Defense & Aerospace Portfolio (FSDAX) and iShares Defense Industrials Active ETF (IDEF).

FSDAX is managed by Fidelity. It was launched on May 8, 1984. IDEF is an actively managed fund by iShares. It was launched on May 19, 2025.

Performance

FSDAX vs. IDEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Defense & Aerospace Portfolio (FSDAX) and iShares Defense Industrials Active ETF (IDEF). The values are adjusted to include any dividend payments, if applicable.

FSDAX vs. IDEF - Yearly Performance Comparison

	2026 (YTD)	2025
FSDAX Fidelity Select Defense & Aerospace Portfolio	-3.56%	23.95%
IDEF iShares Defense Industrials Active ETF	6.20%	23.05%

Returns By Period

In the year-to-date period, FSDAX achieves a -3.56% return, which is significantly lower than IDEF's 6.20% return.

FSDAX

• 1D: -2.27%
• 1M: -14.26%
• YTD: -3.56%
• 6M: -1.06%
• 1Y: 34.57%
• 3Y*: 23.65%
• 5Y*: 15.00%
• 10Y*: 14.95%

IDEF

• 1D: 4.15%
• 1M: -8.78%
• YTD: 6.20%
• 6M: 3.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FSDAX vs. IDEF - Expense Ratio Comparison

FSDAX has a 0.74% expense ratio, which is higher than IDEF's 0.55% expense ratio.

FSDAX

Fidelity Select Defense & Aerospace Portfolio

IDEF

iShares Defense Industrials Active ETF

Return for Risk

FSDAX vs. IDEF — Risk / Return Rank

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

FSDAX

FSDAX Risk / Return Rank: 80
FSDAX Sharpe Ratio Rank: 81
FSDAX Sortino Ratio Rank: 80
FSDAX Omega Ratio Rank: 78
FSDAX Calmar Ratio Rank: 82
FSDAX Martin Ratio Rank: 80

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. 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 ratio Return per unit of total volatility	1.48	—	—
Sortino ratio Return per unit of downside risk	2.02	—	—
Omega ratio Gain probability vs. loss probability	1.29	—	—
Calmar ratio Return relative to maximum drawdown	1.96	—	—
Martin ratio Return relative to average drawdown	7.81	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FSDAX	IDEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.48	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	1.85	-1.22

Correlation

The correlation between FSDAX and IDEF is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FSDAX vs. IDEF - Dividend Comparison

FSDAX's dividend yield for the trailing twelve months is around 4.65%, more than IDEF's 0.16% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSDAX Fidelity Select Defense & Aerospace Portfolio	4.65%	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%

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.

Drawdown Indicators

	FSDAX	IDEF	Difference
Max Drawdown Largest peak-to-trough decline	-60.59%	-14.63%	-45.96%
Max Drawdown (1Y) Largest decline over 1 year	-16.13%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.84%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.08%	—	—
Current Drawdown Current decline from peak	-16.13%	-11.08%	-5.05%
Average Drawdown Average peak-to-trough decline	-10.45%	-2.88%	-7.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.04%	—	—

Volatility

Volatility by Period

	FSDAX	IDEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.71%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.22%	20.00%	+3.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.92%	20.00%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.07%	20.00%	+2.07%