FSMEX vs. FSHCX
FSMEX (Fidelity Select Medical Technology and Devices Portfolio) and FSHCX (Fidelity Select Health Care Services Portfolio) are both Health & Biotech Equities funds from Fidelity. Over the past 10 years, FSMEX returned 9.72%/yr vs 9.63%/yr for FSHCX. Their 0.63 correlation means they have sometimes moved together and sometimes differently. FSMEX charges 0.62%/yr vs 0.71%/yr for FSHCX.
Performance
FSMEX vs. FSHCX - Performance Comparison
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Returns By Period
In the year-to-date period, FSMEX achieves a -6.56% return, which is significantly lower than FSHCX's 16.94% return. Both investments have delivered pretty close results over the past 10 years, with FSMEX having a 9.72% annualized return and FSHCX not far behind at 9.63%.
FSMEX
- 1D
- 0.55%
- 1M
- 1.24%
- 6M
- -3.83%
- YTD
- -6.56%
- 1Y
- 1.44%
- 3Y*
- 4.41%
- 5Y*
- -1.42%
- 10Y*
- 9.72%
- ALL TIME*
- 12.73%
FSHCX
- 1D
- 0.00%
- 1M
- -2.29%
- 6M
- 22.13%
- YTD
- 16.94%
- 1Y
- 42.00%
- 3Y*
- 2.68%
- 5Y*
- 2.72%
- 10Y*
- 9.63%
- ALL TIME*
- 11.40%
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. FSHCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSMEX Fidelity Select Medical Technology and Devices Portfolio | -6.56% | 8.13% | 18.37% | 0.62% | -24.84% | 24.56% | 30.18% | 29.58% | 15.98% | 26.66% |
FSHCX Fidelity Select Health Care Services Portfolio | 16.94% | 3.85% | -13.21% | 1.52% | 0.86% | 20.22% | 18.58% | 19.91% | 10.17% | 24.46% |
Correlation
The correlation between FSMEX and FSHCX is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.49 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.56 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 1998 | 0.63 |
Over the past year, the correlation between FSMEX and FSHCX has dropped to 0.35 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
FSMEX vs. FSHCX — Risk / Return Rank
FSMEX
FSHCX
FSMEX vs. FSHCX - 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 Health Care Services Portfolio (FSHCX). 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 | FSHCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.33 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 2.09 | -2.16 |
| Martin ratioReturn relative to average drawdown | -0.14 | 6.95 | -7.09 |
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Drawdowns
FSMEX vs. FSHCX - Drawdown Comparison
The maximum FSMEX drawdown since its inception was -40.34%, smaller than the maximum FSHCX drawdown of -57.81%. Use the drawdown chart below to compare losses from any high point for FSMEX and FSHCX.
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Drawdown Indicators
| FSMEX | FSHCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.34% | -57.81% | +17.47% |
Max Drawdown (1Y)Largest decline over 1 year | -26.28% | -16.65% | -9.63% |
Max Drawdown (3Y)Largest decline over 3 years | -26.28% | -29.52% | +3.24% |
Max Drawdown (5Y)Largest decline over 5 years | -40.34% | -29.52% | -10.82% |
Max Drawdown (10Y)Largest decline over 10 years | -40.34% | -35.48% | -4.86% |
Current DrawdownCurrent decline from peak | -12.50% | -2.75% | -9.75% |
Average DrawdownAverage peak-to-trough decline | -7.81% | -11.34% | +3.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.47% | 5.04% | +7.43% |
Volatility
FSMEX vs. FSHCX - Volatility Comparison
Fidelity Select Medical Technology and Devices Portfolio (FSMEX) has a higher volatility of 6.57% compared to Fidelity Select Health Care Services Portfolio (FSHCX) at 6.23%. This indicates that FSMEX's price experiences larger fluctuations and is considered to be riskier than FSHCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMEX | FSHCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.57% | 6.23% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 16.61% | 13.56% | +3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.99% | 19.96% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.36% | 19.38% | +1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.89% | 21.54% | -0.65% |
FSMEX vs. FSHCX - Expense Ratio Comparison
FSMEX has a 0.62% expense ratio, which is lower than FSHCX's 0.71% expense ratio.
Dividends
FSMEX vs. FSHCX - Dividend Comparison
FSMEX's dividend yield for the trailing twelve months is around 19.43%, more than FSHCX's 0.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSHCX Fidelity Select Health Care Services Portfolio | 0.65% | 0.75% | 16.63% | 0.57% | 5.32% | 7.09% | 0.76% | 0.27% | 12.92% | 13.41% | 4.62% | 4.06% |
FSMEX Fidelity Select Medical Technology and Devices Portfolio | 19.43% | 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 FSHCX 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 (6.57%) compared to FSHCX (6.23%). In terms of maximum drawdown, FSMEX dropped -40.34% vs FSHCX's -57.81%.
FSHCX currently has the higher Sharpe Ratio (1.75 vs -0.09), 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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