FSELX vs. FUEMX
FSELX (Fidelity Select Semiconductors Portfolio) and FUEMX (Fidelity Flex Conservative Income Municipal Bond Fund) are both mutual funds - FSELX is a Semiconductors fund managed by Fidelity, while FUEMX is a Municipal Bonds fund managed by Fidelity. Over the past 5 years, FSELX returned 43.80%/yr vs 2.38%/yr for FUEMX. At a correlation of -0.00, they often move in opposite directions. FSELX charges 0.68%/yr vs 0.00%/yr for FUEMX.
Performance
FSELX vs. FUEMX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FSELX achieves a 75.83% return, which is significantly higher than FUEMX's 1.20% return.
FSELX
- 1D
- -7.03%
- 1M
- 5.81%
- YTD
- 75.83%
- 6M
- 72.55%
- 1Y
- 132.39%
- 3Y*
- 65.08%
- 5Y*
- 43.80%
- 10Y*
- 39.03%
FUEMX
- 1D
- 0.00%
- 1M
- 0.34%
- YTD
- 1.20%
- 6M
- 1.47%
- 1Y
- 3.18%
- 3Y*
- 3.48%
- 5Y*
- 2.38%
- 10Y*
- —
FSELX vs. FUEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSELX Fidelity Select Semiconductors Portfolio | 75.83% | 52.17% | 49.68% | 78.49% | -35.27% | 59.16% | 44.33% | 64.50% | -12.01% | 3.22% |
FUEMX Fidelity Flex Conservative Income Municipal Bond Fund | 1.20% | 3.43% | 3.56% | 3.55% | 0.05% | 0.34% | 1.08% | 2.50% | 1.77% | 0.02% |
Correlation
The correlation between FSELX and FUEMX is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2017 | -0.00 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FSELX vs. FUEMX — Risk / Return Rank
FSELX
FUEMX
FSELX vs. FUEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Semiconductors Portfolio (FSELX) and Fidelity Flex Conservative Income Municipal Bond Fund (FUEMX). 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.
| FSELX | FUEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | -4.54 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 3.25 | -1.71 |
| Calmar ratioReturn relative to maximum drawdown | 9.82 | 10.76 | -0.94 |
| Martin ratioReturn relative to average drawdown | 35.04 | 42.26 | -7.22 |
Loading charts...
Drawdowns
FSELX vs. FUEMX - Drawdown Comparison
The maximum FSELX drawdown since its inception was -82.54%, which is greater than FUEMX's maximum drawdown of -1.99%. Use the drawdown chart below to compare losses from any high point for FSELX and FUEMX.
Loading charts...
Drawdown Indicators
| FSELX | FUEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.54% | -1.99% | -80.55% |
Max Drawdown (1Y)Largest decline over 1 year | -14.38% | -0.30% | -14.08% |
Max Drawdown (3Y)Largest decline over 3 years | -36.31% | -1.20% | -35.11% |
Max Drawdown (5Y)Largest decline over 5 years | -46.37% | -1.20% | -45.17% |
Max Drawdown (10Y)Largest decline over 10 years | -46.37% | — | — |
Current DrawdownCurrent decline from peak | -7.03% | 0.00% | -7.03% |
Average DrawdownAverage peak-to-trough decline | -28.67% | -0.11% | -28.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.02% | 0.08% | +3.94% |
Volatility
FSELX vs. FUEMX - Volatility Comparison
Fidelity Select Semiconductors Portfolio (FSELX) has a higher volatility of 19.62% compared to Fidelity Flex Conservative Income Municipal Bond Fund (FUEMX) at 0.26%. This indicates that FSELX's price experiences larger fluctuations and is considered to be riskier than FUEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FSELX | FUEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.62% | 0.26% | +19.36% |
Volatility (6M)Calculated over the trailing 6-month period | 29.87% | 0.71% | +29.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.66% | 1.01% | +35.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.70% | 1.18% | +38.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.44% | 1.06% | +34.38% |
FSELX vs. FUEMX - Expense Ratio Comparison
FSELX has a 0.68% expense ratio, which is higher than FUEMX's 0.00% expense ratio.
Dividends
FSELX vs. FUEMX - Dividend Comparison
FSELX's dividend yield for the trailing twelve months is around 9.32%, more than FUEMX's 3.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSELX Fidelity Select Semiconductors Portfolio | 9.32% | 11.11% | 7.97% | 7.20% | 6.69% | 6.99% | 8.13% | 3.36% | 26.80% | 14.44% | 3.82% | 15.22% |
FUEMX Fidelity Flex Conservative Income Municipal Bond Fund | 3.03% | 3.17% | 3.49% | 2.87% | 0.75% | 0.44% | 0.97% | 1.97% | 1.75% | 0.28% | 0.00% | 0.00% |
Frequently Asked Questions
FSELX and FUEMX have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSELX has higher volatility (19.62%) compared to FUEMX (0.26%). In terms of maximum drawdown, FSELX dropped -82.54% vs FUEMX's -1.99%.
FSELX currently has the higher Sharpe Ratio (3.85 vs 3.18), 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.
Find the right allocation for FSELX and FUEMX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer