FSLBX vs. VXF

Last updated Jun 4, 2026

FSLBX (Fidelity Select Brokerage & Invmt Mgmt Portfolio) and VXF (Vanguard Extended Market ETF) are both funds - FSLBX is a Financials Equities fund managed by Fidelity, while VXF is a Mid Cap Blend Equities fund tracking the S&P Completion Index. Over the past 10 years, FSLBX returned 13.95%/yr vs 12.08%/yr for VXF. Their correlation of 0.84 suggests significant overlap in exposure. FSLBX charges 0.75%/yr vs 0.05%/yr for VXF.

Performance

FSLBX vs. VXF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Brokerage & Invmt Mgmt Portfolio (FSLBX) and Vanguard Extended Market ETF (VXF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSLBX achieves a -13.00% return, which is significantly lower than VXF's 13.78% return. Over the past 10 years, FSLBX has outperformed VXF with an annualized return of 13.95%, while VXF has yielded a comparatively lower 12.08% annualized return.

FSLBX

• 1D: -1.65%
• 1M: -3.06%
• YTD: -13.00%
• 6M: -12.12%
• 1Y: -7.78%
• 3Y*: 16.40%
• 5Y*: 8.42%
• 10Y*: 13.95%

VXF

• 1D: -1.02%
• 1M: 4.75%
• YTD: 13.78%
• 6M: 12.61%
• 1Y: 28.88%
• 3Y*: 19.75%
• 5Y*: 6.53%
• 10Y*: 12.08%

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

FSLBX vs. VXF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSLBX Fidelity Select Brokerage & Invmt Mgmt Portfolio	-13.00%	5.78%	35.74%	27.77%	-17.54%	40.61%	22.66%	31.60%	-15.37%	27.74%
VXF Vanguard Extended Market ETF	13.78%	11.40%	16.89%	25.51%	-26.52%	12.31%	32.45%	27.96%	-9.34%	18.06%

Correlation

The correlation between FSLBX and VXF is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 7, 2002	0.84

The correlation between FSLBX and VXF shifts across timeframes, from 0.71 (1 year) to 0.84 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FSLBX vs. VXF — Risk / Return Rank

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

FSLBX

FSLBX Risk / Return Rank: 1
FSLBX Sharpe Ratio Rank: 1
FSLBX Sortino Ratio Rank: 1
FSLBX Omega Ratio Rank: 1
FSLBX Calmar Ratio Rank: 1
FSLBX Martin Ratio Rank: 1

VXF

VXF Risk / Return Rank: 50
VXF Sharpe Ratio Rank: 48
VXF Sortino Ratio Rank: 47
VXF Omega Ratio Rank: 44
VXF Calmar Ratio Rank: 56
VXF Martin Ratio Rank: 57

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.

FSLBX vs. VXF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Brokerage & Invmt Mgmt Portfolio (FSLBX) and Vanguard Extended Market ETF (VXF). 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.

	FSLBX	VXF	Difference
Sharpe ratio: Return per unit of total volatility	-0.35	1.69	-2.04
Sortino ratio: Return per unit of downside risk	-0.35	2.38	-2.72
Omega ratio: Gain probability vs. loss probability	0.96	1.29	-0.33
Calmar ratio: Return relative to maximum drawdown	-0.31	2.84	-3.15
Martin ratio: Return relative to average drawdown	-0.65	10.07	-10.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSLBX vs. VXF - Sharpe Ratio Comparison

The current FSLBX Sharpe Ratio is -0.35, which is lower than the VXF Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of FSLBX and VXF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FSLBX	VXF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.35	1.69	-2.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.29	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.54	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.46	-0.01

Drawdowns

FSLBX vs. VXF - Drawdown Comparison

The maximum FSLBX drawdown since its inception was -68.20%, which is greater than VXF's maximum drawdown of -58.03%. Use the drawdown chart below to compare losses from any high point for FSLBX and VXF.

Drawdown Indicators

	FSLBX	VXF	Difference
Max Drawdown Largest peak-to-trough decline	-68.20%	-58.03%	-10.17%
Max Drawdown (1Y) Largest decline over 1 year	-24.67%	-10.21%	-14.46%
Max Drawdown (3Y) Largest decline over 3 years	-26.06%	-26.92%	+0.86%
Max Drawdown (5Y) Largest decline over 5 years	-30.87%	-36.39%	+5.52%
Max Drawdown (10Y) Largest decline over 10 years	-40.56%	-41.72%	+1.16%
Current Drawdown Current decline from peak	-18.80%	-1.02%	-17.78%
Average Drawdown Average peak-to-trough decline	-14.87%	-9.55%	-5.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.60%	2.87%	+8.73%

Volatility

FSLBX vs. VXF - Volatility Comparison

The current volatility for Fidelity Select Brokerage & Invmt Mgmt Portfolio (FSLBX) is 4.11%, while Vanguard Extended Market ETF (VXF) has a volatility of 4.87%. This indicates that FSLBX experiences smaller price fluctuations and is considered to be less risky than VXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSLBX	VXF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	4.87%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	16.92%	12.44%	+4.48%
Volatility (1Y) Calculated over the trailing 1-year period	21.33%	17.22%	+4.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.91%	22.33%	+0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.64%	22.29%	+1.35%

FSLBX vs. VXF - Expense Ratio Comparison

FSLBX has a 0.75% expense ratio, which is higher than VXF's 0.05% expense ratio.

Dividends

FSLBX vs. VXF - Dividend Comparison

FSLBX's dividend yield for the trailing twelve months is around 2.25%, more than VXF's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSLBX Fidelity Select Brokerage & Invmt Mgmt Portfolio	2.25%	0.67%	0.69%	1.22%	2.09%	1.39%	3.08%	4.25%	8.94%	5.46%	1.25%	6.37%
VXF Vanguard Extended Market ETF	1.02%	1.14%	1.09%	1.27%	1.15%	1.13%	1.07%	1.30%	1.66%	1.25%	1.43%	1.35%

Frequently Asked Questions

Can I hold both FSLBX and VXF in my portfolio?

FSLBX and VXF have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSLBX or VXF?

VXF has higher volatility (4.87%) compared to FSLBX (4.11%). In terms of maximum drawdown, FSLBX dropped -68.20% vs VXF's -58.03%.

Which has better risk-adjusted returns?

VXF currently has the higher Sharpe Ratio (1.69 vs -0.35), 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.