FSLEX vs. SOXX
FSLEX (Fidelity Environment and Alternative Energy Fund) and SOXX (iShares Semiconductor ETF) are both funds - FSLEX is a Alternative Energy Equities fund managed by Fidelity, while SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index. Over the past 10 years, FSLEX returned 14.20%/yr vs 35.55%/yr for SOXX. A 0.71 correlation means they provide meaningful diversification when combined. FSLEX charges 0.79%/yr vs 0.34%/yr for SOXX.
Performance
FSLEX vs. SOXX - Performance Comparison
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Returns By Period
In the year-to-date period, FSLEX achieves a 13.30% return, which is significantly lower than SOXX's 98.11% return. Over the past 10 years, FSLEX has underperformed SOXX with an annualized return of 14.20%, while SOXX has yielded a comparatively higher 35.55% annualized return.
FSLEX
- 1D
- 2.90%
- 1M
- 1.27%
- YTD
- 13.30%
- 6M
- 12.05%
- 1Y
- 30.90%
- 3Y*
- 21.66%
- 5Y*
- 11.78%
- 10Y*
- 14.20%
SOXX
- 1D
- 1.59%
- 1M
- 12.49%
- YTD
- 98.11%
- 6M
- 99.51%
- 1Y
- 171.57%
- 3Y*
- 53.00%
- 5Y*
- 33.69%
- 10Y*
- 35.55%
FSLEX vs. SOXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSLEX Fidelity Environment and Alternative Energy Fund | 13.30% | 20.38% | 20.01% | 26.29% | -26.05% | 30.30% | 21.56% | 26.86% | -13.49% | 24.94% |
SOXX iShares Semiconductor ETF | 98.11% | 40.74% | 12.92% | 67.12% | -35.09% | 44.09% | 52.72% | 62.42% | -6.49% | 39.79% |
Correlation
The correlation between FSLEX and SOXX is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2001 | 0.71 |
The correlation between FSLEX and SOXX has been stable across timeframes, ranging from 0.71 to 0.79 - a consistent structural relationship.
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Return for Risk
FSLEX vs. SOXX — Risk / Return Rank
FSLEX
SOXX
FSLEX vs. SOXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Environment and Alternative Energy Fund (FSLEX) and iShares Semiconductor ETF (SOXX). 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.
| FSLEX | SOXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.68 | ||
| Sortino ratioReturn per unit of downside risk | -2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.62 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 10.50 | -7.87 |
| Martin ratioReturn relative to average drawdown | 10.32 | 38.20 | -27.89 |
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Drawdowns
FSLEX vs. SOXX - Drawdown Comparison
The maximum FSLEX drawdown since its inception was -50.21%, smaller than the maximum SOXX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for FSLEX and SOXX.
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Drawdown Indicators
| FSLEX | SOXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.21% | -70.21% | +20.00% |
Max Drawdown (1Y)Largest decline over 1 year | -11.41% | -15.77% | +4.36% |
Max Drawdown (3Y)Largest decline over 3 years | -24.04% | -41.36% | +17.32% |
Max Drawdown (5Y)Largest decline over 5 years | -32.67% | -45.75% | +13.08% |
Max Drawdown (10Y)Largest decline over 10 years | -39.77% | -45.75% | +5.98% |
Current DrawdownCurrent decline from peak | -3.45% | -3.16% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -13.92% | -19.95% | +6.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 4.33% | -1.43% |
Volatility
FSLEX vs. SOXX - Volatility Comparison
The current volatility for Fidelity Environment and Alternative Energy Fund (FSLEX) is 7.18%, while iShares Semiconductor ETF (SOXX) has a volatility of 19.42%. This indicates that FSLEX experiences smaller price fluctuations and is considered to be less risky than SOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSLEX | SOXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.18% | 19.42% | -12.24% |
Volatility (6M)Calculated over the trailing 6-month period | 13.72% | 31.46% | -17.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.12% | 37.35% | -20.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.80% | 36.73% | -15.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.53% | 33.77% | -12.24% |
FSLEX vs. SOXX - Expense Ratio Comparison
FSLEX has a 0.79% expense ratio, which is higher than SOXX's 0.34% expense ratio.
Dividends
FSLEX vs. SOXX - Dividend Comparison
FSLEX's dividend yield for the trailing twelve months is around 1.60%, more than SOXX's 0.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSLEX Fidelity Environment and Alternative Energy Fund | 1.60% | 0.37% | 0.41% | 0.39% | 0.69% | 7.74% | 6.41% | 2.17% | 6.39% | 6.19% | 1.29% | 3.01% |
SOXX iShares Semiconductor ETF | 0.28% | 0.57% | 0.67% | 0.78% | 1.26% | 0.64% | 0.81% | 1.23% | 1.37% | 0.90% | 1.08% | 1.29% |
Frequently Asked Questions
FSLEX and SOXX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXX has higher volatility (19.42%) compared to FSLEX (7.18%). In terms of maximum drawdown, FSLEX dropped -50.21% vs SOXX's -70.21%.
SOXX currently has the higher Sharpe Ratio (4.43 vs 1.75), 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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