FSLEX vs. FBOT

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Environment and Alternative Energy Fund (FSLEX) and Fidelity Disruptive Automation ETF (FBOT).

FSLEX is managed by Fidelity. It was launched on Jun 29, 1989. FBOT is an actively managed fund by Fidelity. It was launched on Apr 16, 2020.

Performance

FSLEX vs. FBOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Environment and Alternative Energy Fund (FSLEX) and Fidelity Disruptive Automation ETF (FBOT). The values are adjusted to include any dividend payments, if applicable.

FSLEX vs. FBOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FSLEX Fidelity Environment and Alternative Energy Fund	-3.79%	20.38%	20.01%	10.01%
FBOT Fidelity Disruptive Automation ETF	-0.60%	19.15%	12.58%	-1.03%

Returns By Period

In the year-to-date period, FSLEX achieves a -3.79% return, which is significantly lower than FBOT's -0.60% return.

FSLEX

• 1D: -1.41%
• 1M: -10.23%
• YTD: -3.79%
• 6M: -3.23%
• 1Y: 26.76%
• 3Y*: 17.00%
• 5Y*: 9.21%
• 10Y*: 12.60%

FBOT

• 1D: 4.44%
• 1M: -10.42%
• YTD: -0.60%
• 6M: 1.47%
• 1Y: 28.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FSLEX vs. FBOT - Expense Ratio Comparison

FSLEX has a 0.79% expense ratio, which is higher than FBOT's 0.50% expense ratio.

FSLEX

Fidelity Environment and Alternative Energy Fund

FBOT

Fidelity Disruptive Automation ETF

Return for Risk

FSLEX vs. FBOT — Risk / Return Rank

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

FSLEX

FSLEX Risk / Return Rank: 74
FSLEX Sharpe Ratio Rank: 71
FSLEX Sortino Ratio Rank: 74
FSLEX Omega Ratio Rank: 69
FSLEX Calmar Ratio Rank: 76
FSLEX Martin Ratio Rank: 78

FBOT

FBOT Risk / Return Rank: 70
FBOT Sharpe Ratio Rank: 70
FBOT Sortino Ratio Rank: 72
FBOT Omega Ratio Rank: 67
FBOT Calmar Ratio Rank: 72
FBOT Martin Ratio Rank: 69

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.

FSLEX vs. FBOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Environment and Alternative Energy Fund (FSLEX) and Fidelity Disruptive Automation ETF (FBOT). 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.

	FSLEX	FBOT	Difference
Sharpe ratio Return per unit of total volatility	1.22	1.20	+0.02
Sortino ratio Return per unit of downside risk	1.82	1.77	+0.05
Omega ratio Gain probability vs. loss probability	1.25	1.24	+0.02
Calmar ratio Return relative to maximum drawdown	1.76	1.77	-0.02
Martin ratio Return relative to average drawdown	7.52	6.72	+0.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSLEX vs. FBOT - Sharpe Ratio Comparison

The current FSLEX Sharpe Ratio is 1.22, which is comparable to the FBOT Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of FSLEX and FBOT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FSLEX	FBOT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	1.20	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.50	-0.18

Correlation

The correlation between FSLEX and FBOT is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FSLEX vs. FBOT - Dividend Comparison

FSLEX's dividend yield for the trailing twelve months is around 0.38%, less than FBOT's 0.71% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSLEX Fidelity Environment and Alternative Energy Fund	0.38%	0.37%	0.41%	0.39%	0.69%	7.74%	6.41%	2.17%	6.39%	6.19%	1.29%	3.01%
FBOT Fidelity Disruptive Automation ETF	0.71%	0.81%	0.31%	0.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FSLEX vs. FBOT - Drawdown Comparison

The maximum FSLEX drawdown since its inception was -50.21%, which is greater than FBOT's maximum drawdown of -23.61%. Use the drawdown chart below to compare losses from any high point for FSLEX and FBOT.

Drawdown Indicators

	FSLEX	FBOT	Difference
Max Drawdown Largest peak-to-trough decline	-50.21%	-23.61%	-26.60%
Max Drawdown (1Y) Largest decline over 1 year	-13.76%	-15.17%	+1.41%
Max Drawdown (5Y) Largest decline over 5 years	-32.67%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.77%	—	—
Current Drawdown Current decline from peak	-11.41%	-11.40%	-0.01%
Average Drawdown Average peak-to-trough decline	-13.99%	-5.32%	-8.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	4.01%	-0.79%

Volatility

FSLEX vs. FBOT - Volatility Comparison

The current volatility for Fidelity Environment and Alternative Energy Fund (FSLEX) is 6.22%, while Fidelity Disruptive Automation ETF (FBOT) has a volatility of 9.11%. This indicates that FSLEX experiences smaller price fluctuations and is considered to be less risky than FBOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSLEX	FBOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.22%	9.11%	-2.89%
Volatility (6M) Calculated over the trailing 6-month period	12.26%	15.77%	-3.51%
Volatility (1Y) Calculated over the trailing 1-year period	22.17%	23.78%	-1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.57%	20.79%	-0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.39%	20.79%	+0.60%