FSELX vs. ICLN

Last updated Jun 9, 2026

FSELX (Fidelity Select Semiconductors Portfolio) and ICLN (iShares Global Clean Energy ETF) are both funds - FSELX is a Semiconductors fund managed by Fidelity, while ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index. Over the past 10 years, FSELX returned 37.56%/yr vs 11.27%/yr for ICLN. A 0.58 correlation means they provide meaningful diversification when combined. FSELX charges 0.68%/yr vs 0.39%/yr for ICLN.

Performance

FSELX vs. ICLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Semiconductors Portfolio (FSELX) and iShares Global Clean Energy ETF (ICLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSELX achieves a 66.12% return, which is significantly higher than ICLN's 27.81% return. Over the past 10 years, FSELX has outperformed ICLN with an annualized return of 37.56%, while ICLN has yielded a comparatively lower 11.27% annualized return.

FSELX

• 1D: -9.27%
• 1M: 5.76%
• YTD: 66.12%
• 6M: 60.36%
• 1Y: 135.04%
• 3Y*: 63.14%
• 5Y*: 43.03%
• 10Y*: 37.56%

ICLN

• 1D: -1.50%
• 1M: -0.76%
• YTD: 27.81%
• 6M: 26.73%
• 1Y: 65.16%
• 3Y*: 5.80%
• 5Y*: 0.12%
• 10Y*: 11.27%

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

FSELX vs. ICLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSELX Fidelity Select Semiconductors Portfolio	66.12%	52.17%	49.68%	78.49%	-35.27%	59.16%	44.33%	64.50%	-12.01%	34.51%
ICLN iShares Global Clean Energy ETF	27.81%	47.05%	-25.72%	-20.41%	-5.43%	-24.18%	141.82%	44.36%	-9.03%	21.47%

Correlation

The correlation between FSELX and ICLN is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jun 25, 2008	0.58

The correlation between FSELX and ICLN shifts across timeframes, from 0.49 (3 years) to 0.62 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FSELX vs. ICLN — Risk / Return Rank

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

FSELX

FSELX Risk / Return Rank: 93
FSELX Sharpe Ratio Rank: 99
FSELX Sortino Ratio Rank: 87
FSELX Omega Ratio Rank: 85
FSELX Calmar Ratio Rank: 98
FSELX Martin Ratio Rank: 98

ICLN

ICLN Risk / Return Rank: 80
ICLN Sharpe Ratio Rank: 82
ICLN Sortino Ratio Rank: 72
ICLN Omega Ratio Rank: 70
ICLN Calmar Ratio Rank: 92
ICLN Martin Ratio Rank: 85

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. ICLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Semiconductors Portfolio (FSELX) and iShares Global Clean Energy ETF (ICLN). 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	ICLN	Difference
Sharpe ratio: Return per unit of total volatility	4.00	2.38	+1.63
Sortino ratio: Return per unit of downside risk	4.09	2.93	+1.16
Omega ratio: Gain probability vs. loss probability	1.57	1.37	+0.20
Calmar ratio: Return relative to maximum drawdown	9.48	5.66	+3.82
Martin ratio: Return relative to average drawdown	35.79	16.11	+19.68
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. ICLN - Sharpe Ratio Comparison

The current FSELX Sharpe Ratio is 4.00, which is higher than the ICLN Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of FSELX and ICLN, 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	ICLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.00	2.38	+1.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.10	0.00	+1.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.07	0.41	+0.66
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	-0.09	+0.63

Drawdowns

FSELX vs. ICLN - Drawdown Comparison

The maximum FSELX drawdown since its inception was -82.54%, smaller than the maximum ICLN drawdown of -87.15%. Use the drawdown chart below to compare losses from any high point for FSELX and ICLN.

Drawdown Indicators

	FSELX	ICLN	Difference
Max Drawdown Largest peak-to-trough decline	-82.54%	-87.15%	+4.61%
Max Drawdown (1Y) Largest decline over 1 year	-14.38%	-11.58%	-2.80%
Max Drawdown (3Y) Largest decline over 3 years	-36.31%	-43.18%	+6.87%
Max Drawdown (5Y) Largest decline over 5 years	-46.37%	-57.16%	+10.79%
Max Drawdown (10Y) Largest decline over 10 years	-46.37%	-66.75%	+20.38%
Current Drawdown Current decline from peak	-10.89%	-42.82%	+31.93%
Average Drawdown Average peak-to-trough decline	-28.69%	-66.59%	+37.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	4.06%	-0.26%

Volatility

FSELX vs. ICLN - Volatility Comparison

Fidelity Select Semiconductors Portfolio (FSELX) has a higher volatility of 15.95% compared to iShares Global Clean Energy ETF (ICLN) at 12.28%. This indicates that FSELX's price experiences larger fluctuations and is considered to be riskier than ICLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSELX	ICLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.95%	12.28%	+3.67%
Volatility (6M) Calculated over the trailing 6-month period	27.45%	21.81%	+5.64%
Volatility (1Y) Calculated over the trailing 1-year period	34.06%	27.62%	+6.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.17%	27.43%	+11.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.18%	27.31%	+7.87%

FSELX vs. ICLN - Expense Ratio Comparison

FSELX has a 0.68% expense ratio, which is higher than ICLN's 0.39% expense ratio.

Dividends

FSELX vs. ICLN - Dividend Comparison

FSELX's dividend yield for the trailing twelve months is around 9.86%, more than ICLN's 1.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSELX Fidelity Select Semiconductors Portfolio	9.86%	11.11%	7.97%	7.20%	6.69%	6.99%	8.13%	3.36%	26.80%	14.44%	3.82%	15.22%
ICLN iShares Global Clean Energy ETF	1.28%	1.63%	1.85%	1.59%	0.89%	1.18%	0.34%	1.36%	2.77%	2.49%	3.88%	2.36%

Frequently Asked Questions

Can I hold both FSELX and ICLN in my portfolio?

FSELX and ICLN have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSELX or ICLN?

FSELX has higher volatility (15.95%) compared to ICLN (12.28%). In terms of maximum drawdown, FSELX dropped -82.54% vs ICLN's -87.15%.

Which has better risk-adjusted returns?

FSELX currently has the higher Sharpe Ratio (4.00 vs 2.38), 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.