FSMEX vs. FCNTX
FSMEX (Fidelity Select Medical Technology and Devices Portfolio) and FCNTX (Fidelity Contrafund) are both mutual funds - FSMEX is a Health & Biotech Equities fund actively managed by Fidelity, while FCNTX is a Large Cap Growth Equities fund managed by Fidelity. Over the past 10 years, FSMEX returned 9.67%/yr vs 17.05%/yr for FCNTX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. FSMEX charges 0.62%/yr vs 0.39%/yr for FCNTX.
Performance
FSMEX vs. FCNTX - Performance Comparison
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Returns By Period
In the year-to-date period, FSMEX achieves a -7.61% return, which is significantly lower than FCNTX's 6.89% return. Over the past 10 years, FSMEX has underperformed FCNTX with an annualized return of 9.67%, while FCNTX has yielded a comparatively higher 17.05% annualized return.
FSMEX
- 1D
- -1.12%
- 1M
- 0.10%
- 6M
- -5.06%
- YTD
- -7.61%
- 1Y
- 0.30%
- 3Y*
- 4.26%
- 5Y*
- -1.64%
- 10Y*
- 9.67%
- ALL TIME*
- 12.69%
FCNTX
- 1D
- 1.21%
- 1M
- -2.67%
- 6M
- 4.74%
- YTD
- 6.89%
- 1Y
- 15.13%
- 3Y*
- 23.50%
- 5Y*
- 13.38%
- 10Y*
- 17.05%
- ALL TIME*
- 13.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
FCNTX Fidelity Contrafund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
FSMEX vs. FCNTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSMEX Fidelity Select Medical Technology and Devices Portfolio | -7.61% | 8.13% | 18.37% | 0.62% | -24.84% | 24.56% | 30.18% | 29.58% | 15.98% | 26.66% |
FCNTX Fidelity Contrafund | 6.89% | 21.76% | 36.00% | 38.67% | -28.31% | 24.52% | 32.48% | 30.00% | -3.81% | 32.18% |
Correlation
The correlation between FSMEX and FCNTX is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.49 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.62 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 1998 | 0.73 |
Over the past year, the correlation between FSMEX and FCNTX has dropped to 0.34 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.
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Return for Risk
FSMEX vs. FCNTX — Risk / Return Rank
FSMEX
FCNTX
FSMEX vs. FCNTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Medical Technology and Devices Portfolio (FSMEX) and Fidelity Contrafund (FCNTX). 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.
| FSMEX | FCNTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.15 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 1.14 | -1.15 |
| Martin ratioReturn relative to average drawdown | -0.02 | 4.43 | -4.45 |
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Drawdowns
FSMEX vs. FCNTX - Drawdown Comparison
The maximum FSMEX drawdown since its inception was -40.34%, smaller than the maximum FCNTX drawdown of -49.19%. Use the drawdown chart below to compare losses from any high point for FSMEX and FCNTX.
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Drawdown Indicators
| FSMEX | FCNTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.34% | -49.19% | +8.85% |
Max Drawdown (1Y)Largest decline over 1 year | -26.28% | -11.30% | -14.98% |
Max Drawdown (3Y)Largest decline over 3 years | -26.28% | -19.75% | -6.53% |
Max Drawdown (5Y)Largest decline over 5 years | -40.34% | -32.59% | -7.75% |
Max Drawdown (10Y)Largest decline over 10 years | -40.34% | -32.59% | -7.75% |
Current DrawdownCurrent decline from peak | -13.48% | -4.14% | -9.34% |
Average DrawdownAverage peak-to-trough decline | -7.81% | -8.14% | +0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.48% | 2.91% | +9.57% |
Volatility
FSMEX vs. FCNTX - Volatility Comparison
Fidelity Select Medical Technology and Devices Portfolio (FSMEX) has a higher volatility of 6.43% compared to Fidelity Contrafund (FCNTX) at 4.09%. This indicates that FSMEX's price experiences larger fluctuations and is considered to be riskier than FCNTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMEX | FCNTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.43% | 4.09% | +2.34% |
Volatility (6M)Calculated over the trailing 6-month period | 16.56% | 12.28% | +4.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.02% | 15.50% | +4.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.35% | 19.37% | +1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.89% | 19.74% | +1.15% |
FSMEX vs. FCNTX - Expense Ratio Comparison
FSMEX has a 0.62% expense ratio, which is higher than FCNTX's 0.39% expense ratio.
Dividends
FSMEX vs. FCNTX - Dividend Comparison
FSMEX's dividend yield for the trailing twelve months is around 19.65%, more than FCNTX's 4.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCNTX Fidelity Contrafund | 4.37% | 5.21% | 4.19% | 3.78% | 11.87% | 10.80% | 8.01% | 4.16% | 7.46% | 6.08% | 3.81% | 5.33% |
FSMEX Fidelity Select Medical Technology and Devices Portfolio | 19.65% | 10.53% | 17.04% | 0.00% | 1.80% | 8.12% | 6.65% | 1.77% | 7.47% | 6.26% | 5.84% | 16.35% |
Frequently Asked Questions
FSMEX and FCNTX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSMEX has higher volatility (6.43%) compared to FCNTX (4.09%). In terms of maximum drawdown, FSMEX dropped -40.34% vs FCNTX's -49.19%.
FCNTX currently has the higher Sharpe Ratio (0.84 vs -0.01), 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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