FSDPX vs. VMIAX

Last updated Jun 24, 2026

FSDPX (Fidelity Select Materials Portfolio) and VMIAX (Vanguard Materials Index Fund Admiral Shares) are both mutual funds - FSDPX is a Energy Equities fund managed by Fidelity, while VMIAX is a Materials fund managed by Vanguard. Over the past 10 years, FSDPX returned 8.62%/yr vs 10.65%/yr for VMIAX. With a 0.97 correlation, they move nearly in lockstep. FSDPX charges 0.74%/yr vs 0.10%/yr for VMIAX.

Performance

FSDPX vs. VMIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Materials Portfolio (FSDPX) and Vanguard Materials Index Fund Admiral Shares (VMIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSDPX achieves a 15.13% return, which is significantly higher than VMIAX's 13.21% return. Over the past 10 years, FSDPX has underperformed VMIAX with an annualized return of 8.62%, while VMIAX has yielded a comparatively higher 10.65% annualized return.

FSDPX

• 1D: 0.02%
• 1M: 2.15%
• YTD: 15.13%
• 6M: 13.77%
• 1Y: 21.75%
• 3Y*: 9.34%
• 5Y*: 6.38%
• 10Y*: 8.62%

VMIAX

• 1D: -0.08%
• 1M: 2.70%
• YTD: 13.21%
• 6M: 11.71%
• 1Y: 22.94%
• 3Y*: 11.94%
• 5Y*: 7.17%
• 10Y*: 10.65%

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

FSDPX vs. VMIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSDPX Fidelity Select Materials Portfolio	15.13%	11.32%	-2.95%	7.29%	-9.86%	31.66%	21.78%	12.40%	-23.74%	25.99%
VMIAX Vanguard Materials Index Fund Admiral Shares	13.21%	12.26%	0.45%	13.69%	-11.77%	27.15%	19.37%	23.59%	-17.38%	23.68%

Correlation

The correlation between FSDPX and VMIAX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Feb 2, 2004	0.97

The correlation between FSDPX and VMIAX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

FSDPX vs. VMIAX — Risk / Return Rank

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

FSDPX

FSDPX Risk / Return Rank: 25
FSDPX Sharpe Ratio Rank: 23
FSDPX Sortino Ratio Rank: 22
FSDPX Omega Ratio Rank: 21
FSDPX Calmar Ratio Rank: 30
FSDPX Martin Ratio Rank: 27

VMIAX

VMIAX Risk / Return Rank: 26
VMIAX Sharpe Ratio Rank: 26
VMIAX Sortino Ratio Rank: 25
VMIAX Omega Ratio Rank: 23
VMIAX Calmar Ratio Rank: 28
VMIAX Martin Ratio Rank: 27

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.

FSDPX vs. VMIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Materials Portfolio (FSDPX) and Vanguard Materials Index Fund Admiral Shares (VMIAX). 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.

	FSDPX	VMIAX	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.34	-0.06
Sortino ratio: Return per unit of downside risk	1.81	1.94	-0.12
Omega ratio: Gain probability vs. loss probability	1.22	1.23	-0.01
Calmar ratio: Return relative to maximum drawdown	1.92	1.84	+0.07
Martin ratio: Return relative to average drawdown	5.96	5.85	+0.11

FSDPX vs. VMIAX - Sharpe Ratio Comparison

The current FSDPX Sharpe Ratio is 1.28, which is comparable to the VMIAX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of FSDPX and VMIAX, 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

FSDPX vs. VMIAX - Drawdown Comparison

The maximum FSDPX drawdown since its inception was -64.19%, roughly equal to the maximum VMIAX drawdown of -62.17%. Use the drawdown chart below to compare losses from any high point for FSDPX and VMIAX.

Drawdown Indicators

	FSDPX	VMIAX	Difference
Max Drawdown Largest peak-to-trough decline	-64.19%	-62.17%	-2.02%
Max Drawdown (1Y) Largest decline over 1 year	-12.16%	-13.41%	+1.25%
Max Drawdown (3Y) Largest decline over 3 years	-22.13%	-23.21%	+1.08%
Max Drawdown (5Y) Largest decline over 5 years	-25.39%	-25.45%	+0.06%
Max Drawdown (10Y) Largest decline over 10 years	-49.89%	-41.02%	-8.87%
Current Drawdown Current decline from peak	-2.95%	-3.76%	+0.81%
Average Drawdown Average peak-to-trough decline	-11.28%	-9.62%	-1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.90%	4.22%	-0.32%

Volatility

FSDPX vs. VMIAX - Volatility Comparison

Fidelity Select Materials Portfolio (FSDPX) and Vanguard Materials Index Fund Admiral Shares (VMIAX) have volatilities of 6.72% and 6.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSDPX	VMIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.72%	6.41%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	14.81%	14.67%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	18.25%	18.43%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.40%	19.75%	+0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.77%	21.29%	+0.48%

FSDPX vs. VMIAX - Expense Ratio Comparison

FSDPX has a 0.74% expense ratio, which is higher than VMIAX's 0.10% expense ratio.

Dividends

FSDPX vs. VMIAX - Dividend Comparison

FSDPX's dividend yield for the trailing twelve months is around 4.88%, more than VMIAX's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSDPX Fidelity Select Materials Portfolio	4.88%	1.94%	12.46%	5.46%	3.34%	0.71%	0.68%	1.22%	12.89%	5.08%	1.05%	2.42%
VMIAX Vanguard Materials Index Fund Admiral Shares	1.36%	1.55%	1.70%	1.72%	1.98%	1.33%	1.67%	1.94%	2.02%	1.63%	1.73%	2.31%

Frequently Asked Questions

Can I hold both FSDPX and VMIAX in my portfolio?

With a correlation of 0.98, FSDPX and VMIAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FSDPX or VMIAX?

FSDPX has higher volatility (6.72%) compared to VMIAX (6.41%). In terms of maximum drawdown, FSDPX dropped -64.19% vs VMIAX's -62.17%.

Which has better risk-adjusted returns?

VMIAX currently has the higher Sharpe Ratio (1.34 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.