FSELX vs. SMH
Compare and contrast key facts about Fidelity Select Semiconductors Portfolio (FSELX) and VanEck Semiconductor ETF (SMH).
FSELX is managed by Fidelity. It was launched on Jul 29, 1985. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011.
Performance
FSELX vs. SMH - Performance Comparison
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FSELX vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSELX Fidelity Select Semiconductors Portfolio | 0.00% | 52.17% | 49.68% | 78.49% | -35.27% | 59.16% | 44.33% | 64.50% | -12.01% | 34.51% |
SMH VanEck Semiconductor ETF | 6.46% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
Returns By Period
Both investments have delivered pretty close results over the past 10 years, with FSELX having a 31.42% annualized return and SMH not far behind at 31.28%.
FSELX
- 1D
- -4.27%
- 1M
- -9.75%
- YTD
- 0.00%
- 6M
- 7.40%
- 1Y
- 85.27%
- 3Y*
- 43.05%
- 5Y*
- 30.67%
- 10Y*
- 31.42%
SMH
- 1D
- 5.76%
- 1M
- -5.65%
- YTD
- 6.46%
- 6M
- 17.84%
- 1Y
- 81.87%
- 3Y*
- 43.47%
- 5Y*
- 25.59%
- 10Y*
- 31.28%
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FSELX vs. SMH - Expense Ratio Comparison
FSELX has a 0.68% expense ratio, which is higher than SMH's 0.35% expense ratio.
Return for Risk
FSELX vs. SMH — Risk / Return Rank
FSELX
SMH
FSELX vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Semiconductors Portfolio (FSELX) and VanEck Semiconductor ETF (SMH). 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 | SMH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.07 | 2.23 | -0.16 |
Sortino ratioReturn per unit of downside risk | 2.72 | 2.85 | -0.13 |
Omega ratioGain probability vs. loss probability | 1.38 | 1.40 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 4.58 | 5.10 | -0.52 |
Martin ratioReturn relative to average drawdown | 18.71 | 18.29 | +0.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FSELX | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 2.23 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 0.74 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.91 | 0.97 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.28 | +0.22 |
Correlation
The correlation between FSELX and SMH is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FSELX vs. SMH - Dividend Comparison
FSELX's dividend yield for the trailing twelve months is around 11.11%, more than SMH's 0.29% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSELX Fidelity Select Semiconductors Portfolio | 11.11% | 11.11% | 7.97% | 7.20% | 6.69% | 6.99% | 8.13% | 3.36% | 26.80% | 14.44% | 3.82% | 15.22% |
SMH VanEck Semiconductor ETF | 0.29% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
Drawdowns
FSELX vs. SMH - Drawdown Comparison
The maximum FSELX drawdown since its inception was -82.54%, roughly equal to the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for FSELX and SMH.
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Drawdown Indicators
| FSELX | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.54% | -84.96% | +2.42% |
Max Drawdown (1Y)Largest decline over 1 year | -17.23% | -15.95% | -1.28% |
Max Drawdown (5Y)Largest decline over 5 years | -46.37% | -45.30% | -1.07% |
Max Drawdown (10Y)Largest decline over 10 years | -46.37% | -45.30% | -1.07% |
Current DrawdownCurrent decline from peak | -14.38% | -10.03% | -4.35% |
Average DrawdownAverage peak-to-trough decline | -28.82% | -41.36% | +12.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.21% | 4.44% | -0.23% |
Volatility
FSELX vs. SMH - Volatility Comparison
The current volatility for Fidelity Select Semiconductors Portfolio (FSELX) is 10.47%, while VanEck Semiconductor ETF (SMH) has a volatility of 12.11%. This indicates that FSELX experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSELX | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.47% | 12.11% | -1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 24.91% | 23.95% | +0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.89% | 36.84% | +4.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.58% | 34.71% | +3.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.71% | 32.28% | +2.43% |