FSENX vs. XLE
FSENX (Fidelity Select Energy Portfolio) and XLE (State Street Energy Select Sector SPDR ETF) are both Energy Equities funds. FSENX is actively managed, while XLE is passively managed. Over the past 10 years, FSENX returned 9.05%/yr vs 9.37%/yr for XLE. With a 0.96 correlation, they move nearly in lockstep. FSENX charges 0.77%/yr vs 0.08%/yr for XLE.
Performance
FSENX vs. XLE - Performance Comparison
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Returns By Period
In the year-to-date period, FSENX achieves a 26.95% return, which is significantly higher than XLE's 23.49% return. Both investments have delivered pretty close results over the past 10 years, with FSENX having a 9.05% annualized return and XLE not far ahead at 9.37%.
FSENX
- 1D
- 1.50%
- 1M
- -8.15%
- YTD
- 26.95%
- 6M
- 27.81%
- 1Y
- 37.23%
- 3Y*
- 17.69%
- 5Y*
- 20.70%
- 10Y*
- 9.05%
XLE
- 1D
- 0.74%
- 1M
- -7.80%
- YTD
- 23.49%
- 6M
- 24.07%
- 1Y
- 30.55%
- 3Y*
- 15.73%
- 5Y*
- 18.87%
- 10Y*
- 9.37%
FSENX vs. XLE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSENX Fidelity Select Energy Portfolio | 26.95% | 10.56% | 4.26% | 0.94% | 62.98% | 55.31% | -32.51% | 9.90% | -24.94% | -2.65% |
XLE State Street Energy Select Sector SPDR ETF | 23.49% | 7.88% | 5.56% | -0.63% | 64.32% | 53.28% | -32.67% | 11.74% | -18.22% | -0.89% |
Correlation
The correlation between FSENX and XLE is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 1998 | 0.97 |
The correlation between FSENX and XLE has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
FSENX vs. XLE — Risk / Return Rank
FSENX
XLE
FSENX vs. XLE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Energy Portfolio (FSENX) and State Street Energy Select Sector SPDR ETF (XLE). 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.
| FSENX | XLE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.25 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 2.18 | +0.59 |
| Martin ratioReturn relative to average drawdown | 8.92 | 6.53 | +2.39 |
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Drawdowns
FSENX vs. XLE - Drawdown Comparison
The maximum FSENX drawdown since its inception was -76.24%, which is greater than XLE's maximum drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for FSENX and XLE.
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Drawdown Indicators
| FSENX | XLE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.24% | -71.26% | -4.98% |
Max Drawdown (1Y)Largest decline over 1 year | -12.09% | -14.05% | +1.96% |
Max Drawdown (3Y)Largest decline over 3 years | -25.85% | -20.14% | -5.71% |
Max Drawdown (5Y)Largest decline over 5 years | -28.02% | -26.04% | -1.98% |
Max Drawdown (10Y)Largest decline over 10 years | -72.11% | -66.81% | -5.30% |
Current DrawdownCurrent decline from peak | -10.77% | -12.32% | +1.55% |
Average DrawdownAverage peak-to-trough decline | -17.00% | -17.96% | +0.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.80% | 4.69% | -0.89% |
Volatility
FSENX vs. XLE - Volatility Comparison
Fidelity Select Energy Portfolio (FSENX) and State Street Energy Select Sector SPDR ETF (XLE) have volatilities of 6.83% and 7.12%, 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.
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Volatility by Period
| FSENX | XLE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.83% | 7.12% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 15.84% | 16.82% | -0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.11% | 20.93% | -0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.23% | 25.98% | +1.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.95% | 29.60% | +1.35% |
FSENX vs. XLE - Expense Ratio Comparison
FSENX has a 0.77% expense ratio, which is higher than XLE's 0.08% expense ratio.
Dividends
FSENX vs. XLE - Dividend Comparison
FSENX's dividend yield for the trailing twelve months is around 1.69%, less than XLE's 2.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSENX Fidelity Select Energy Portfolio | 1.69% | 1.95% | 1.95% | 1.98% | 2.50% | 2.25% | 3.43% | 1.84% | 1.48% | 1.74% | 0.62% | 1.29% |
XLE State Street Energy Select Sector SPDR ETF | 2.79% | 3.28% | 3.36% | 3.55% | 3.68% | 4.21% | 5.62% | 6.72% | 3.54% | 3.03% | 2.26% | 3.39% |
Frequently Asked Questions
With a correlation of 0.97, FSENX and XLE 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.
XLE has higher volatility (7.12%) compared to FSENX (6.83%). In terms of maximum drawdown, FSENX dropped -76.24% vs XLE's -71.26%.
FSENX currently has the higher Sharpe Ratio (1.67 vs 1.48), 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.
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