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 managed by Fidelity, while FCNTX is a Large Cap Growth Equities fund managed by Fidelity. Over the past 10 years, FSMEX returned 9.84%/yr vs 17.60%/yr for FCNTX. A 0.73 correlation means they provide meaningful diversification when combined. FSMEX charges 0.68%/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 -8.39% return, which is significantly lower than FCNTX's 10.81% return. Over the past 10 years, FSMEX has underperformed FCNTX with an annualized return of 9.84%, while FCNTX has yielded a comparatively higher 17.60% annualized return.
FSMEX
- 1D
- -0.19%
- 1M
- 9.72%
- 6M
- -10.60%
- YTD
- -8.39%
- 1Y
- -2.46%
- 3Y*
- 4.04%
- 5Y*
- -1.05%
- 10Y*
- 9.84%
FCNTX
- 1D
- 0.34%
- 1M
- 2.56%
- 6M
- 8.88%
- YTD
- 10.81%
- 1Y
- 20.89%
- 3Y*
- 26.73%
- 5Y*
- 14.23%
- 10Y*
- 17.60%
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 | -8.39% | 8.13% | 18.37% | 0.62% | -24.84% | 24.56% | 30.18% | 29.58% | 15.98% | 26.66% |
FCNTX Fidelity Contrafund | 10.81% | 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 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 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 0.35 - 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 | -1.55 | ||
| Sortino ratioReturn per unit of downside risk | -2.06 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.25 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.15 | 1.82 | -1.96 |
| Martin ratioReturn relative to average drawdown | -0.32 | 7.47 | -7.78 |
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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 | -14.21% | -0.63% | -13.58% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -8.14% | +0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.12% | 2.75% | +9.37% |
Volatility
FSMEX vs. FCNTX - Volatility Comparison
Fidelity Select Medical Technology and Devices Portfolio (FSMEX) has a higher volatility of 7.12% compared to Fidelity Contrafund (FCNTX) at 6.16%. 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 | 7.12% | 6.16% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 16.13% | 12.10% | +4.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.69% | 15.13% | +4.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.27% | 19.35% | +1.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.84% | 19.71% | +1.13% |
FSMEX vs. FCNTX - Expense Ratio Comparison
FSMEX has a 0.68% 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 19.82%, more than FCNTX's 4.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCNTX Fidelity Contrafund | 4.21% | 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 | 19.82% | 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 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSMEX has higher volatility (7.12%) compared to FCNTX (6.16%). In terms of maximum drawdown, FSMEX dropped -40.34% vs FCNTX's -49.19%.
FCNTX currently has the higher Sharpe Ratio (1.36 vs -0.19), 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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