FSHCX vs. SHPAX
FSHCX (Fidelity Select Health Care Services Portfolio) and SHPAX (Saratoga Health & Biotechnology Fund) are both Health & Biotech Equities funds. Over the past 10 years, FSHCX returned 9.25%/yr vs 6.73%/yr for SHPAX. A 0.70 correlation means they provide meaningful diversification when combined. FSHCX charges 0.71%/yr vs 2.90%/yr for SHPAX.
Performance
FSHCX vs. SHPAX - Performance Comparison
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Returns By Period
In the year-to-date period, FSHCX achieves a 10.58% return, which is significantly higher than SHPAX's 0.05% return. Over the past 10 years, FSHCX has outperformed SHPAX with an annualized return of 9.25%, while SHPAX has yielded a comparatively lower 6.73% annualized return.
FSHCX
- 1D
- 1.13%
- 1M
- 6.00%
- YTD
- 10.58%
- 6M
- 10.93%
- 1Y
- 16.00%
- 3Y*
- 2.05%
- 5Y*
- 1.70%
- 10Y*
- 9.25%
SHPAX
- 1D
- 0.76%
- 1M
- -0.84%
- YTD
- 0.05%
- 6M
- -1.21%
- 1Y
- 16.81%
- 3Y*
- 7.07%
- 5Y*
- 4.68%
- 10Y*
- 6.73%
FSHCX vs. SHPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSHCX Fidelity Select Health Care Services Portfolio | 10.58% | 3.85% | -13.21% | 1.52% | 0.86% | 20.22% | 18.58% | 19.91% | 10.17% | 24.46% |
SHPAX Saratoga Health & Biotechnology Fund | 0.05% | 17.43% | 0.26% | -0.36% | 1.93% | 16.71% | 3.52% | 27.67% | -5.30% | 11.78% |
Correlation
The correlation between FSHCX and SHPAX is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2000 | 0.70 |
The correlation between FSHCX and SHPAX shifts across timeframes, from 0.60 (1 year) to 0.76 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
FSHCX vs. SHPAX — Risk / Return Rank
FSHCX
SHPAX
FSHCX vs. SHPAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Health Care Services Portfolio (FSHCX) and Saratoga Health & Biotechnology Fund (SHPAX). 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.
| FSHCX | SHPAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.20 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.95 | 1.82 | -0.87 |
| Martin ratioReturn relative to average drawdown | 2.40 | 4.51 | -2.11 |
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Drawdowns
FSHCX vs. SHPAX - Drawdown Comparison
The maximum FSHCX drawdown since its inception was -57.81%, smaller than the maximum SHPAX drawdown of -69.50%. Use the drawdown chart below to compare losses from any high point for FSHCX and SHPAX.
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Drawdown Indicators
| FSHCX | SHPAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.81% | -69.50% | +11.69% |
Max Drawdown (1Y)Largest decline over 1 year | -17.15% | -9.33% | -7.82% |
Max Drawdown (3Y)Largest decline over 3 years | -29.52% | -16.32% | -13.20% |
Max Drawdown (5Y)Largest decline over 5 years | -29.52% | -16.32% | -13.20% |
Max Drawdown (10Y)Largest decline over 10 years | -35.48% | -28.05% | -7.43% |
Current DrawdownCurrent decline from peak | -5.37% | -5.88% | +0.51% |
Average DrawdownAverage peak-to-trough decline | -11.36% | -27.88% | +16.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.75% | 3.75% | +3.00% |
Volatility
FSHCX vs. SHPAX - Volatility Comparison
Fidelity Select Health Care Services Portfolio (FSHCX) and Saratoga Health & Biotechnology Fund (SHPAX) have volatilities of 5.16% and 5.14%, 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
| FSHCX | SHPAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.16% | 5.14% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 15.47% | 10.44% | +5.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.77% | 14.64% | +6.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.24% | 14.34% | +4.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.51% | 16.62% | +4.89% |
FSHCX vs. SHPAX - Expense Ratio Comparison
FSHCX has a 0.71% expense ratio, which is lower than SHPAX's 2.90% expense ratio.
Dividends
FSHCX vs. SHPAX - Dividend Comparison
FSHCX's dividend yield for the trailing twelve months is around 0.68%, less than SHPAX's 3.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSHCX Fidelity Select Health Care Services Portfolio | 0.68% | 0.75% | 16.63% | 0.57% | 5.32% | 7.09% | 0.76% | 0.27% | 12.92% | 13.41% | 4.62% | 4.06% |
SHPAX Saratoga Health & Biotechnology Fund | 3.66% | 3.66% | 1.35% | 5.38% | 6.34% | 3.76% | 13.82% | 13.24% | 22.00% | 17.98% | 12.52% | 10.70% |
Frequently Asked Questions
FSHCX and SHPAX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSHCX has higher volatility (5.16%) compared to SHPAX (5.14%). In terms of maximum drawdown, FSHCX dropped -57.81% vs SHPAX's -69.50%.
SHPAX currently has the higher Sharpe Ratio (1.16 vs 0.78), 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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