FSHOX vs. PKB

Last updated Jun 13, 2026

FSHOX (Fidelity Select Construction & Housing Portfolio) and PKB (Invesco Dynamic Building & Construction ETF) are both funds - FSHOX is a Consumer Discretionary Equities fund managed by Fidelity, while PKB is a Building & Construction fund tracking the Dynamic Building & Construction Intellidex Index. Over the past 10 years, FSHOX returned 15.05%/yr vs 15.78%/yr for PKB. Their correlation of 0.89 suggests significant overlap in exposure. FSHOX charges 0.76%/yr vs 0.60%/yr for PKB.

Performance

FSHOX vs. PKB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Construction & Housing Portfolio (FSHOX) and Invesco Dynamic Building & Construction ETF (PKB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSHOX achieves a 7.27% return, which is significantly lower than PKB's 14.33% return. Both investments have delivered pretty close results over the past 10 years, with FSHOX having a 15.05% annualized return and PKB not far ahead at 15.78%.

FSHOX

• 1D: 3.42%
• 1M: 0.88%
• YTD: 7.27%
• 6M: 4.94%
• 1Y: 15.36%
• 3Y*: 14.91%
• 5Y*: 10.49%
• 10Y*: 15.05%

PKB

• 1D: 1.14%
• 1M: 0.71%
• YTD: 14.33%
• 6M: 10.23%
• 1Y: 37.69%
• 3Y*: 27.82%
• 5Y*: 16.59%
• 10Y*: 15.78%

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

FSHOX vs. PKB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSHOX Fidelity Select Construction & Housing Portfolio	7.27%	5.24%	15.28%	30.85%	-22.76%	57.51%	25.95%	41.15%	-15.87%	26.25%
PKB Invesco Dynamic Building & Construction ETF	14.33%	22.47%	20.24%	55.29%	-24.88%	32.96%	24.49%	40.15%	-31.11%	24.67%

Correlation

The correlation between FSHOX and PKB is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Oct 26, 2005	0.89

The correlation between FSHOX and PKB has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

FSHOX vs. PKB — Risk / Return Rank

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

FSHOX

FSHOX Risk / Return Rank: 12
FSHOX Sharpe Ratio Rank: 12
FSHOX Sortino Ratio Rank: 14
FSHOX Omega Ratio Rank: 12
FSHOX Calmar Ratio Rank: 13
FSHOX Martin Ratio Rank: 11

PKB

PKB Risk / Return Rank: 48
PKB Sharpe Ratio Rank: 48
PKB Sortino Ratio Rank: 49
PKB Omega Ratio Rank: 43
PKB Calmar Ratio Rank: 52
PKB Martin Ratio Rank: 49

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.

FSHOX vs. PKB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Construction & Housing Portfolio (FSHOX) and Invesco Dynamic Building & Construction ETF (PKB). 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.

	FSHOX	PKB	Difference
Sharpe ratio: Return per unit of total volatility	0.67	1.47	-0.80
Sortino ratio: Return per unit of downside risk	1.16	2.16	-1.00
Omega ratio: Gain probability vs. loss probability	1.13	1.25	-0.12
Calmar ratio: Return relative to maximum drawdown	0.84	2.27	-1.44
Martin ratio: Return relative to average drawdown	2.12	7.21	-5.08

FSHOX vs. PKB - Sharpe Ratio Comparison

The current FSHOX Sharpe Ratio is 0.67, which is lower than the PKB Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of FSHOX and PKB, 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

FSHOX vs. PKB - Drawdown Comparison

The maximum FSHOX drawdown since its inception was -61.68%, smaller than the maximum PKB drawdown of -65.21%. Use the drawdown chart below to compare losses from any high point for FSHOX and PKB.

Drawdown Indicators

	FSHOX	PKB	Difference
Max Drawdown Largest peak-to-trough decline	-61.68%	-65.21%	+3.53%
Max Drawdown (1Y) Largest decline over 1 year	-16.54%	-15.41%	-1.13%
Max Drawdown (3Y) Largest decline over 3 years	-24.76%	-29.75%	+4.99%
Max Drawdown (5Y) Largest decline over 5 years	-33.23%	-34.85%	+1.62%
Max Drawdown (10Y) Largest decline over 10 years	-43.67%	-52.29%	+8.62%
Current Drawdown Current decline from peak	-7.50%	-4.31%	-3.19%
Average Drawdown Average peak-to-trough decline	-9.84%	-15.75%	+5.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.50%	4.86%	+1.64%

Volatility

FSHOX vs. PKB - Volatility Comparison

The current volatility for Fidelity Select Construction & Housing Portfolio (FSHOX) is 7.41%, while Invesco Dynamic Building & Construction ETF (PKB) has a volatility of 8.73%. This indicates that FSHOX experiences smaller price fluctuations and is considered to be less risky than PKB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSHOX	PKB	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.41%	8.73%	-1.32%
Volatility (6M) Calculated over the trailing 6-month period	16.57%	18.69%	-2.12%
Volatility (1Y) Calculated over the trailing 1-year period	20.56%	23.78%	-3.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.82%	25.78%	-3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.54%	27.29%	-4.75%

FSHOX vs. PKB - Expense Ratio Comparison

FSHOX has a 0.76% expense ratio, which is higher than PKB's 0.60% expense ratio.

Dividends

FSHOX vs. PKB - Dividend Comparison

FSHOX's dividend yield for the trailing twelve months is around 6.00%, more than PKB's 0.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSHOX Fidelity Select Construction & Housing Portfolio	6.00%	3.91%	4.05%	0.82%	0.80%	5.45%	4.73%	7.91%	15.47%	13.62%	3.61%	3.26%
PKB Invesco Dynamic Building & Construction ETF	0.14%	0.14%	0.23%	0.33%	0.43%	0.25%	0.30%	0.37%	0.54%	0.17%	0.31%	0.11%

Frequently Asked Questions

Can I hold both FSHOX and PKB in my portfolio?

FSHOX and PKB have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSHOX or PKB?

PKB has higher volatility (8.73%) compared to FSHOX (7.41%). In terms of maximum drawdown, FSHOX dropped -61.68% vs PKB's -65.21%.

Which has better risk-adjusted returns?

PKB currently has the higher Sharpe Ratio (1.47 vs 0.67), 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.