FSDAX vs. ROKT

Last updated Jun 23, 2026

FSDAX (Fidelity Select Defense & Aerospace Portfolio) and ROKT (SPDR S&P Kensho Final Frontiers ETF) are both funds - FSDAX is a Aerospace & Defense fund actively managed by Fidelity, while ROKT is a Industrials Equities fund tracking the S&P Kensho Final Frontiers Index. FSDAX is actively managed, while ROKT is passively managed. Over the past 5 years, FSDAX returned 18.05%/yr vs 22.83%/yr for ROKT. Their correlation of 0.84 suggests significant overlap in exposure. FSDAX charges 0.63%/yr vs 0.45%/yr for ROKT.

Performance

FSDAX vs. ROKT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Defense & Aerospace Portfolio (FSDAX) and SPDR S&P Kensho Final Frontiers ETF (ROKT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSDAX achieves a 12.70% return, which is significantly lower than ROKT's 35.59% return.

FSDAX

• 1D: -1.16%
• 1M: 7.55%
• YTD: 12.70%
• 6M: 10.25%
• 1Y: 33.42%
• 3Y*: 29.57%
• 5Y*: 18.05%
• 10Y*: 16.07%

ROKT

• 1D: -1.94%
• 1M: -8.05%
• YTD: 35.59%
• 6M: 31.63%
• 1Y: 88.44%
• 3Y*: 40.42%
• 5Y*: 22.83%
• 10Y*: —

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

FSDAX vs. ROKT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FSDAX Fidelity Select Defense & Aerospace Portfolio	12.70%	50.03%	15.83%	16.29%	6.83%	4.91%	-7.87%	33.75%	-13.33%
ROKT SPDR S&P Kensho Final Frontiers ETF	35.59%	50.56%	27.89%	14.41%	-0.81%	4.63%	7.99%	40.90%	-12.90%

Correlation

The correlation between FSDAX and ROKT is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Oct 23, 2018	0.84

The correlation between FSDAX and ROKT shifts across timeframes, from 0.69 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FSDAX vs. ROKT — Risk / Return Rank

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

FSDAX

FSDAX Risk / Return Rank: 33
FSDAX Sharpe Ratio Rank: 34
FSDAX Sortino Ratio Rank: 35
FSDAX Omega Ratio Rank: 31
FSDAX Calmar Ratio Rank: 36
FSDAX Martin Ratio Rank: 28

ROKT

ROKT Risk / Return Rank: 86
ROKT Sharpe Ratio Rank: 89
ROKT Sortino Ratio Rank: 82
ROKT Omega Ratio Rank: 77
ROKT Calmar Ratio Rank: 92
ROKT Martin Ratio Rank: 92

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. ROKT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Defense & Aerospace Portfolio (FSDAX) and SPDR S&P Kensho Final Frontiers ETF (ROKT). 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.

	FSDAX	ROKT	Difference
Sharpe ratio: Return per unit of total volatility	1.57	2.85	-1.28
Sortino ratio: Return per unit of downside risk	2.28	3.47	-1.19
Omega ratio: Gain probability vs. loss probability	1.27	1.44	-0.17
Calmar ratio: Return relative to maximum drawdown	2.15	5.68	-3.54
Martin ratio: Return relative to average drawdown	6.14	21.13	-14.99

FSDAX vs. ROKT - Sharpe Ratio Comparison

The current FSDAX Sharpe Ratio is 1.57, which is lower than the ROKT Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of FSDAX and ROKT, 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

FSDAX vs. ROKT - Drawdown Comparison

The maximum FSDAX drawdown since its inception was -60.59%, which is greater than ROKT's maximum drawdown of -43.16%. Use the drawdown chart below to compare losses from any high point for FSDAX and ROKT.

Drawdown Indicators

	FSDAX	ROKT	Difference
Max Drawdown Largest peak-to-trough decline	-60.59%	-43.16%	-17.43%
Max Drawdown (1Y) Largest decline over 1 year	-16.13%	-15.64%	-0.49%
Max Drawdown (3Y) Largest decline over 3 years	-16.13%	-23.46%	+7.33%
Max Drawdown (5Y) Largest decline over 5 years	-22.48%	-23.46%	+0.98%
Max Drawdown (10Y) Largest decline over 10 years	-47.08%	—	—
Current Drawdown Current decline from peak	-2.00%	-15.64%	+13.64%
Average Drawdown Average peak-to-trough decline	-10.44%	-6.79%	-3.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.64%	4.20%	+1.44%

Volatility

FSDAX vs. ROKT - Volatility Comparison

The current volatility for Fidelity Select Defense & Aerospace Portfolio (FSDAX) is 8.33%, while SPDR S&P Kensho Final Frontiers ETF (ROKT) has a volatility of 15.53%. This indicates that FSDAX experiences smaller price fluctuations and is considered to be less risky than ROKT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSDAX	ROKT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.33%	15.53%	-7.20%
Volatility (6M) Calculated over the trailing 6-month period	19.02%	26.89%	-7.87%
Volatility (1Y) Calculated over the trailing 1-year period	22.10%	31.22%	-9.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.64%	23.36%	-2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.45%	25.41%	-2.96%

FSDAX vs. ROKT - Expense Ratio Comparison

FSDAX has a 0.63% expense ratio, which is higher than ROKT's 0.45% expense ratio.

Dividends

FSDAX vs. ROKT - Dividend Comparison

FSDAX's dividend yield for the trailing twelve months is around 2.03%, more than ROKT's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSDAX Fidelity Select Defense & Aerospace Portfolio	2.03%	4.48%	7.68%	6.47%	8.87%	8.38%	2.11%	2.62%	11.45%	3.57%	4.87%	6.30%
ROKT SPDR S&P Kensho Final Frontiers ETF	0.27%	0.41%	0.57%	0.62%	0.54%	1.79%	0.48%	0.74%	0.16%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSDAX and ROKT in my portfolio?

FSDAX and ROKT have a correlation of 0.69, 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 ROKT?

ROKT has higher volatility (15.53%) compared to FSDAX (8.33%). In terms of maximum drawdown, FSDAX dropped -60.59% vs ROKT's -43.16%.

Which has better risk-adjusted returns?

ROKT currently has the higher Sharpe Ratio (2.85 vs 1.57), 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.