FSMEX vs. FSCSX
FSMEX (Fidelity Select Medical Technology and Devices Portfolio) and FSCSX (Fidelity Select Software & IT Services Portfolio) are both mutual funds - FSMEX is a Health & Biotech Equities fund actively managed by Fidelity, while FSCSX is a Technology Equities fund actively managed by Fidelity. Both are actively managed. Over the past 10 years, FSMEX returned 9.67%/yr vs 16.32%/yr for FSCSX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. FSMEX charges 0.62%/yr vs 0.67%/yr for FSCSX.
Performance
FSMEX vs. FSCSX - 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 FSCSX's -6.42% return. Over the past 10 years, FSMEX has underperformed FSCSX with an annualized return of 9.67%, while FSCSX has yielded a comparatively higher 16.32% 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%
FSCSX
- 1D
- 1.65%
- 1M
- 5.07%
- 6M
- 10.18%
- YTD
- -6.42%
- 1Y
- -5.96%
- 3Y*
- 10.41%
- 5Y*
- 5.53%
- 10Y*
- 16.32%
- ALL TIME*
- 15.58%
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. FSCSX - 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% |
FSCSX Fidelity Select Software & IT Services Portfolio | -6.42% | 6.96% | 19.66% | 51.72% | -29.13% | 18.13% | 45.55% | 38.99% | 4.08% | 38.60% |
Correlation
The correlation between FSMEX and FSCSX is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.46 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 1998 | 0.64 |
Over the past year, the correlation between FSMEX and FSCSX has dropped to 0.32 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.
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Return for Risk
FSMEX vs. FSCSX — Risk / Return Rank
FSMEX
FSCSX
FSMEX vs. FSCSX - 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 Software & IT Services Portfolio (FSCSX). 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 | FSCSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.97 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | -0.25 | +0.24 |
| Martin ratioReturn relative to average drawdown | -0.02 | -0.51 | +0.49 |
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Drawdowns
FSMEX vs. FSCSX - Drawdown Comparison
The maximum FSMEX drawdown since its inception was -40.34%, smaller than the maximum FSCSX drawdown of -64.66%. Use the drawdown chart below to compare losses from any high point for FSMEX and FSCSX.
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Drawdown Indicators
| FSMEX | FSCSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.34% | -64.66% | +24.32% |
Max Drawdown (1Y)Largest decline over 1 year | -26.28% | -34.24% | +7.96% |
Max Drawdown (3Y)Largest decline over 3 years | -26.28% | -34.24% | +7.96% |
Max Drawdown (5Y)Largest decline over 5 years | -40.34% | -37.06% | -3.28% |
Max Drawdown (10Y)Largest decline over 10 years | -40.34% | -37.06% | -3.28% |
Current DrawdownCurrent decline from peak | -13.48% | -11.77% | -1.71% |
Average DrawdownAverage peak-to-trough decline | -7.81% | -13.24% | +5.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.48% | 16.66% | -4.18% |
Volatility
FSMEX vs. FSCSX - Volatility Comparison
The current volatility for Fidelity Select Medical Technology and Devices Portfolio (FSMEX) is 6.43%, while Fidelity Select Software & IT Services Portfolio (FSCSX) has a volatility of 7.36%. This indicates that FSMEX experiences smaller price fluctuations and is considered to be less risky than FSCSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMEX | FSCSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.43% | 7.36% | -0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 16.56% | 25.36% | -8.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.02% | 29.68% | -9.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.35% | 26.84% | -5.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.89% | 24.76% | -3.87% |
FSMEX vs. FSCSX - Expense Ratio Comparison
FSMEX has a 0.62% expense ratio, which is lower than FSCSX's 0.67% expense ratio.
Dividends
FSMEX vs. FSCSX - Dividend Comparison
FSMEX's dividend yield for the trailing twelve months is around 19.65%, less than FSCSX's 21.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSCSX Fidelity Select Software & IT Services Portfolio | 21.47% | 15.40% | 19.17% | 7.72% | 9.06% | 6.54% | 5.10% | 12.70% | 6.20% | 7.15% | 3.98% | 5.22% |
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 FSCSX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSCSX has higher volatility (7.36%) compared to FSMEX (6.43%). In terms of maximum drawdown, FSMEX dropped -40.34% vs FSCSX's -64.66%.
FSMEX currently has the higher Sharpe Ratio (-0.01 vs -0.29), 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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