FSMEX vs. FDCPX
FSMEX (Fidelity Select Medical Technology and Devices Portfolio) and FDCPX (Fidelity Select Tech Hardware Portfolio) are both mutual funds - FSMEX is a Health & Biotech Equities fund actively managed by Fidelity, while FDCPX is a Technology Equities fund actively managed by Fidelity. Both are actively managed. Over the past 10 years, FSMEX returned 9.67%/yr vs 26.06%/yr for FDCPX. Their 0.58 correlation means they have sometimes moved together and sometimes differently. FSMEX charges 0.62%/yr vs 0.67%/yr for FDCPX.
Performance
FSMEX vs. FDCPX - 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 FDCPX's 62.74% return. Over the past 10 years, FSMEX has underperformed FDCPX with an annualized return of 9.67%, while FDCPX has yielded a comparatively higher 26.06% 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%
FDCPX
- 1D
- 1.00%
- 1M
- -3.80%
- 6M
- 46.22%
- YTD
- 62.74%
- 1Y
- 101.29%
- 3Y*
- 49.02%
- 5Y*
- 26.82%
- 10Y*
- 26.06%
- ALL TIME*
- 14.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FSMEX vs. FDCPX - 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% |
FDCPX Fidelity Select Tech Hardware Portfolio | 62.74% | 54.44% | 22.40% | 33.52% | -28.63% | 23.68% | 46.07% | 40.15% | -6.30% | 32.64% |
Correlation
The correlation between FSMEX and FDCPX is 0.18, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.54 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.58 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 1998 | 0.58 |
Over the past year, the correlation between FSMEX and FDCPX has dropped to 0.18 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.
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Return for Risk
FSMEX vs. FDCPX — Risk / Return Rank
FSMEX
FDCPX
FSMEX vs. FDCPX - 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 Select Tech Hardware Portfolio (FDCPX). 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 | FDCPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.10 | ||
| Sortino ratioReturn per unit of downside risk | -3.29 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.47 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 4.44 | -4.45 |
| Martin ratioReturn relative to average drawdown | -0.02 | 19.04 | -19.06 |
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Drawdowns
FSMEX vs. FDCPX - Drawdown Comparison
The maximum FSMEX drawdown since its inception was -40.34%, smaller than the maximum FDCPX drawdown of -81.96%. Use the drawdown chart below to compare losses from any high point for FSMEX and FDCPX.
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Drawdown Indicators
| FSMEX | FDCPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.34% | -81.96% | +41.62% |
Max Drawdown (1Y)Largest decline over 1 year | -26.28% | -22.18% | -4.10% |
Max Drawdown (3Y)Largest decline over 3 years | -26.28% | -23.59% | -2.69% |
Max Drawdown (5Y)Largest decline over 5 years | -40.34% | -35.29% | -5.05% |
Max Drawdown (10Y)Largest decline over 10 years | -40.34% | -35.29% | -5.05% |
Current DrawdownCurrent decline from peak | -13.48% | -15.88% | +2.40% |
Average DrawdownAverage peak-to-trough decline | -7.81% | -26.06% | +18.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.48% | 5.16% | +7.32% |
Volatility
FSMEX vs. FDCPX - Volatility Comparison
The current volatility for Fidelity Select Medical Technology and Devices Portfolio (FSMEX) is 6.43%, while Fidelity Select Tech Hardware Portfolio (FDCPX) has a volatility of 15.00%. This indicates that FSMEX experiences smaller price fluctuations and is considered to be less risky than FDCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMEX | FDCPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.43% | 15.00% | -8.57% |
Volatility (6M)Calculated over the trailing 6-month period | 16.56% | 28.78% | -12.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.02% | 31.91% | -11.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.35% | 24.38% | -3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.89% | 22.81% | -1.92% |
FSMEX vs. FDCPX - Expense Ratio Comparison
FSMEX has a 0.62% expense ratio, which is lower than FDCPX's 0.67% expense ratio.
Dividends
FSMEX vs. FDCPX - Dividend Comparison
FSMEX's dividend yield for the trailing twelve months is around 19.65%, more than FDCPX's 6.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDCPX Fidelity Select Tech Hardware Portfolio | 6.57% | 14.38% | 7.58% | 0.51% | 17.72% | 16.95% | 8.81% | 12.15% | 23.69% | 10.50% | 6.57% | 4.53% |
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 FDCPX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDCPX has higher volatility (15.00%) compared to FSMEX (6.43%). In terms of maximum drawdown, FSMEX dropped -40.34% vs FDCPX's -81.96%.
FDCPX currently has the higher Sharpe Ratio (3.09 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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