FSELX vs. SMPIX

Last updated Jun 27, 2026

FSELX (Fidelity Select Semiconductors Portfolio) and SMPIX (ProFunds Semiconductor UltraSector Fund Investor Class) are both mutual funds - FSELX is a Semiconductors fund managed by Fidelity, while SMPIX is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (150% Daily). Over the past 10 years, FSELX returned 39.81%/yr vs 20.48%/yr for SMPIX. With a 0.96 correlation, they move nearly in lockstep. FSELX charges 0.68%/yr vs 1.52%/yr for SMPIX.

Performance

FSELX vs. SMPIX - Performance Comparison

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

Returns By Period

In the year-to-date period, FSELX achieves a 78.23% return, which is significantly higher than SMPIX's 68.23% return. Over the past 10 years, FSELX has outperformed SMPIX with an annualized return of 39.81%, while SMPIX has yielded a comparatively lower 20.48% annualized return.

FSELX

• 1D: 1.86%
• 1M: 4.80%
• YTD: 78.23%
• 6M: 74.67%
• 1Y: 129.41%
• 3Y*: 66.11%
• 5Y*: 44.29%
• 10Y*: 39.81%

SMPIX

• 1D: 3.43%
• 1M: 1.76%
• YTD: 68.23%
• 6M: 63.38%
• 1Y: 129.38%
• 3Y*: -7.90%
• 5Y*: 0.29%
• 10Y*: 20.48%

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

FSELX vs. SMPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSELX Fidelity Select Semiconductors Portfolio	78.23%	52.17%	49.68%	78.49%	-35.27%	59.16%	44.33%	64.50%	-12.01%	34.51%
SMPIX ProFunds Semiconductor UltraSector Fund Investor Class	68.23%	56.35%	-77.32%	155.37%	-54.31%	80.17%	60.77%	77.97%	-17.56%	42.78%

Correlation

The correlation between FSELX and SMPIX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001	0.96

The correlation between FSELX and SMPIX has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

Return for Risk

FSELX vs. SMPIX — Risk / Return Rank

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

FSELX

FSELX Risk / Return Rank: 94
FSELX Sharpe Ratio Rank: 99
FSELX Sortino Ratio Rank: 89
FSELX Omega Ratio Rank: 87
FSELX Calmar Ratio Rank: 99
FSELX Martin Ratio Rank: 98

SMPIX

SMPIX Risk / Return Rank: 85
SMPIX Sharpe Ratio Rank: 90
SMPIX Sortino Ratio Rank: 70
SMPIX Omega Ratio Rank: 72
SMPIX Calmar Ratio Rank: 97
SMPIX Martin Ratio Rank: 93

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. SMPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Semiconductors Portfolio (FSELX) and ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX). 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	SMPIX	Difference
Sharpe ratio: Return per unit of total volatility	3.65	2.58	+1.07
Sortino ratio: Return per unit of downside risk	3.78	2.80	+0.98
Omega ratio: Gain probability vs. loss probability	1.53	1.38	+0.15
Calmar ratio: Return relative to maximum drawdown	9.27	5.86	+3.42
Martin ratio: Return relative to average drawdown	32.72	16.76	+15.97

FSELX vs. SMPIX - Sharpe Ratio Comparison

The current FSELX Sharpe Ratio is 3.65, which is higher than the SMPIX Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of FSELX and SMPIX, 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

FSELX vs. SMPIX - Drawdown Comparison

The maximum FSELX drawdown since its inception was -82.54%, smaller than the maximum SMPIX drawdown of -94.52%. Use the drawdown chart below to compare losses from any high point for FSELX and SMPIX.

Drawdown Indicators

	FSELX	SMPIX	Difference
Max Drawdown Largest peak-to-trough decline	-82.54%	-94.52%	+11.98%
Max Drawdown (1Y) Largest decline over 1 year	-14.38%	-22.72%	+8.34%
Max Drawdown (3Y) Largest decline over 3 years	-36.31%	-94.52%	+58.21%
Max Drawdown (5Y) Largest decline over 5 years	-46.37%	-94.52%	+48.15%
Max Drawdown (10Y) Largest decline over 10 years	-46.37%	-94.52%	+48.15%
Current Drawdown Current decline from peak	-5.76%	-74.61%	+68.85%
Average Drawdown Average peak-to-trough decline	-28.66%	-57.65%	+28.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.07%	7.92%	-3.85%

Volatility

FSELX vs. SMPIX - Volatility Comparison

The current volatility for Fidelity Select Semiconductors Portfolio (FSELX) is 19.33%, while ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX) has a volatility of 25.56%. This indicates that FSELX experiences smaller price fluctuations and is considered to be less risky than SMPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSELX	SMPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.33%	25.56%	-6.23%
Volatility (6M) Calculated over the trailing 6-month period	29.78%	41.02%	-11.24%
Volatility (1Y) Calculated over the trailing 1-year period	36.57%	51.73%	-15.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.70%	71.61%	-31.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.43%	59.65%	-24.22%

FSELX vs. SMPIX - Expense Ratio Comparison

FSELX has a 0.68% expense ratio, which is lower than SMPIX's 1.52% expense ratio.

Dividends

FSELX vs. SMPIX - Dividend Comparison

FSELX's dividend yield for the trailing twelve months is around 9.19%, more than SMPIX's 7.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSELX Fidelity Select Semiconductors Portfolio	9.19%	11.11%	7.97%	7.20%	6.69%	6.99%	8.13%	3.36%	26.80%	14.44%	3.82%	15.22%
SMPIX ProFunds Semiconductor UltraSector Fund Investor Class	7.74%	13.02%	0.16%	0.00%	0.00%	6.57%	0.00%	2.26%	40.03%	0.11%	0.45%	0.68%

Frequently Asked Questions

Can I hold both FSELX and SMPIX in my portfolio?

With a correlation of 0.91, FSELX and SMPIX 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 SMPIX?

SMPIX has higher volatility (25.56%) compared to FSELX (19.33%). In terms of maximum drawdown, FSELX dropped -82.54% vs SMPIX's -94.52%.

Which has better risk-adjusted returns?

FSELX currently has the higher Sharpe Ratio (3.65 vs 2.58), 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.