FSLEX vs. SPY
Compare and contrast key facts about Fidelity Environment and Alternative Energy Fund (FSLEX) and State Street SPDR S&P 500 ETF (SPY).
FSLEX is managed by Fidelity. It was launched on Jun 29, 1989. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
FSLEX vs. SPY - Performance Comparison
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FSLEX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSLEX Fidelity Environment and Alternative Energy Fund | -3.79% | 20.38% | 20.01% | 26.29% | -26.05% | 30.30% | 21.56% | 26.86% | -13.49% | 24.94% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, FSLEX achieves a -3.79% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, FSLEX has underperformed SPY with an annualized return of 12.60%, while SPY has yielded a comparatively higher 13.98% annualized 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%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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FSLEX vs. SPY - Expense Ratio Comparison
FSLEX has a 0.79% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
FSLEX vs. SPY — Risk / Return Rank
FSLEX
SPY
FSLEX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Environment and Alternative Energy Fund (FSLEX) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.22 | 0.93 | +0.29 |
Sortino ratioReturn per unit of downside risk | 1.82 | 1.45 | +0.36 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.22 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.53 | +0.23 |
Martin ratioReturn relative to average drawdown | 7.52 | 7.30 | +0.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FSLEX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 0.93 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.69 | -0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.78 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.56 | -0.24 |
Correlation
The correlation between FSLEX and SPY is 0.76, 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. SPY - Dividend Comparison
FSLEX's dividend yield for the trailing twelve months is around 0.38%, less than SPY's 1.14% 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% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
FSLEX vs. SPY - Drawdown Comparison
The maximum FSLEX drawdown since its inception was -50.21%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FSLEX and SPY.
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Drawdown Indicators
| FSLEX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.21% | -55.19% | +4.98% |
Max Drawdown (1Y)Largest decline over 1 year | -13.76% | -12.05% | -1.71% |
Max Drawdown (5Y)Largest decline over 5 years | -32.67% | -24.50% | -8.17% |
Max Drawdown (10Y)Largest decline over 10 years | -39.77% | -33.72% | -6.05% |
Current DrawdownCurrent decline from peak | -11.41% | -6.24% | -5.17% |
Average DrawdownAverage peak-to-trough decline | -13.99% | -9.09% | -4.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 2.52% | +0.70% |
Volatility
FSLEX vs. SPY - Volatility Comparison
Fidelity Environment and Alternative Energy Fund (FSLEX) has a higher volatility of 6.22% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that FSLEX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSLEX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.22% | 5.31% | +0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 12.26% | 9.47% | +2.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.17% | 19.05% | +3.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.57% | 17.06% | +3.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.39% | 17.92% | +3.47% |