FSELX vs. FELAX

Last updated Jun 3, 2026

FSELX (Fidelity Select Semiconductors Portfolio) and FELAX (Fidelity Advisor Semiconductors Fund Class A) are both mutual funds - FSELX is a Semiconductors fund managed by Fidelity, while FELAX is a Technology Equities fund managed by Fidelity. Over the past 10 years, FSELX returned 38.36%/yr vs 36.38%/yr for FELAX. With a 0.99 correlation, they move nearly in lockstep. FSELX charges 0.68%/yr vs 1.01%/yr for FELAX.

Performance

FSELX vs. FELAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Semiconductors Portfolio (FSELX) and Fidelity Advisor Semiconductors Fund Class A (FELAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FSELX having a 74.49% return and FELAX slightly lower at 73.68%. Over the past 10 years, FSELX has outperformed FELAX with an annualized return of 38.36%, while FELAX has yielded a comparatively lower 36.38% annualized return.

FSELX

• 1D: 2.15%
• 1M: 18.98%
• YTD: 74.49%
• 6M: 75.66%
• 1Y: 157.66%
• 3Y*: 65.42%
• 5Y*: 44.76%
• 10Y*: 38.36%

FELAX

• 1D: 2.05%
• 1M: 18.59%
• YTD: 73.68%
• 6M: 74.82%
• 1Y: 160.71%
• 3Y*: 60.16%
• 5Y*: 41.41%
• 10Y*: 36.38%

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

FSELX vs. FELAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSELX Fidelity Select Semiconductors Portfolio	74.49%	52.17%	49.68%	78.49%	-35.27%	59.16%	44.33%	64.50%	-12.01%	34.51%
FELAX Fidelity Advisor Semiconductors Fund Class A	73.68%	44.88%	43.74%	75.08%	-35.07%	57.50%	43.57%	63.76%	-12.76%	34.12%

Correlation

The correlation between FSELX and FELAX is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Dec 28, 2000	0.99

The correlation between FSELX and FELAX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

FSELX vs. FELAX — Risk / Return Rank

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

FSELX

FSELX Risk / Return Rank: 97
FSELX Sharpe Ratio Rank: 99
FSELX Sortino Ratio Rank: 95
FSELX Omega Ratio Rank: 92
FSELX Calmar Ratio Rank: 99
FSELX Martin Ratio Rank: 99

FELAX

FELAX Risk / Return Rank: 97
FELAX Sharpe Ratio Rank: 99
FELAX Sortino Ratio Rank: 95
FELAX Omega Ratio Rank: 92
FELAX Calmar Ratio Rank: 99
FELAX Martin Ratio Rank: 99

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.

FSELX vs. FELAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Semiconductors Portfolio (FSELX) and Fidelity Advisor Semiconductors Fund Class A (FELAX). 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.

	FSELX	FELAX	Difference
Sharpe ratio Return per unit of total volatility	5.05	5.19	-0.14
Sortino ratio Return per unit of downside risk	4.99	5.09	-0.10
Omega ratio Gain probability vs. loss probability	1.68	1.69	-0.01
Calmar ratio Return relative to maximum drawdown	10.79	10.81	-0.02
Martin ratio Return relative to average drawdown	41.52	42.15	-0.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSELX vs. FELAX - Sharpe Ratio Comparison

The current FSELX Sharpe Ratio is 5.05, which is comparable to the FELAX Sharpe Ratio of 5.19. The chart below compares the historical Sharpe Ratios of FSELX and FELAX, 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

	FSELX	FELAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.05	5.19	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.16	1.09	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.10	1.05	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.46	+0.08

Drawdowns

FSELX vs. FELAX - Drawdown Comparison

The maximum FSELX drawdown since its inception was -82.54%, which is greater than FELAX's maximum drawdown of -71.33%. Use the drawdown chart below to compare losses from any high point for FSELX and FELAX.

Drawdown Indicators

	FSELX	FELAX	Difference
Max Drawdown Largest peak-to-trough decline	-82.54%	-71.33%	-11.21%
Max Drawdown (1Y) Largest decline over 1 year	-14.38%	-14.66%	+0.28%
Max Drawdown (3Y) Largest decline over 3 years	-36.31%	-36.43%	+0.12%
Max Drawdown (5Y) Largest decline over 5 years	-46.37%	-46.15%	-0.22%
Max Drawdown (10Y) Largest decline over 10 years	-46.37%	-46.15%	-0.22%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-28.70%	-21.88%	-6.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	3.76%	-0.02%

Volatility

FSELX vs. FELAX - Volatility Comparison

Fidelity Select Semiconductors Portfolio (FSELX) and Fidelity Advisor Semiconductors Fund Class A (FELAX) have volatilities of 10.80% and 10.64%, 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

	FSELX	FELAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.80%	10.64%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	24.78%	24.65%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	32.26%	32.03%	+0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.87%	38.24%	+0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.01%	34.63%	+0.38%

FSELX vs. FELAX - Expense Ratio Comparison

FSELX has a 0.68% expense ratio, which is lower than FELAX's 1.01% expense ratio.

Dividends

FSELX vs. FELAX - Dividend Comparison

FSELX's dividend yield for the trailing twelve months is around 9.39%, more than FELAX's 4.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FELAX Fidelity Advisor Semiconductors Fund Class A	4.01%	6.96%	7.02%	3.40%	3.32%	4.34%	4.51%	1.00%	20.15%	9.67%	0.36%	10.71%
FSELX Fidelity Select Semiconductors Portfolio	9.39%	11.11%	7.97%	7.20%	6.69%	6.99%	8.13%	3.36%	26.80%	14.44%	3.82%	15.22%

Frequently Asked Questions

Can I hold both FSELX and FELAX in my portfolio?

With a correlation of 1.00, FSELX and FELAX 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, FSELX or FELAX?

FSELX has higher volatility (10.80%) compared to FELAX (10.64%). In terms of maximum drawdown, FSELX dropped -82.54% vs FELAX's -71.33%.

Which has better risk-adjusted returns?

FELAX currently has the higher Sharpe Ratio (5.19 vs 5.05), 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.