FSPCX vs. FNCL
FSPCX (Fidelity Select Insurance Portfolio) and FNCL (Fidelity MSCI Financials Index ETF) are both Financials Equities funds from Fidelity. Over the past 10 years, FSPCX returned 13.07%/yr vs 13.20%/yr for FNCL. Their correlation of 0.84 suggests significant overlap in exposure. FSPCX charges 0.78%/yr vs 0.08%/yr for FNCL.
Performance
FSPCX vs. FNCL - Performance Comparison
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Returns By Period
In the year-to-date period, FSPCX achieves a 8.14% return, which is significantly higher than FNCL's 3.74% return. Both investments have delivered pretty close results over the past 10 years, with FSPCX having a 13.07% annualized return and FNCL not far ahead at 13.20%.
FSPCX
- 1D
- 0.03%
- 1M
- 8.31%
- 6M
- 8.86%
- YTD
- 8.14%
- 1Y
- 10.22%
- 3Y*
- 16.45%
- 5Y*
- 14.30%
- 10Y*
- 13.07%
FNCL
- 1D
- 0.54%
- 1M
- 5.40%
- 6M
- 2.50%
- YTD
- 3.74%
- 1Y
- 9.72%
- 3Y*
- 20.41%
- 5Y*
- 11.10%
- 10Y*
- 13.20%
FSPCX vs. FNCL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSPCX Fidelity Select Insurance Portfolio | 8.14% | 3.45% | 28.44% | 12.98% | 7.75% | 29.26% | 0.00% | 30.06% | -11.99% | 15.50% |
FNCL Fidelity MSCI Financials Index ETF | 3.74% | 14.94% | 30.44% | 14.10% | -12.28% | 34.92% | -2.19% | 31.59% | -13.44% | 19.99% |
Correlation
The correlation between FSPCX and FNCL is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013 | 0.84 |
Over the past year, the correlation between FSPCX and FNCL has dropped to 0.59 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.
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Return for Risk
FSPCX vs. FNCL — Risk / Return Rank
FSPCX
FNCL
FSPCX vs. FNCL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Insurance Portfolio (FSPCX) and Fidelity MSCI Financials Index ETF (FNCL). 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.
| FSPCX | FNCL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.12 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | 0.66 | +0.27 |
| Martin ratioReturn relative to average drawdown | 1.90 | 1.71 | +0.19 |
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Drawdowns
FSPCX vs. FNCL - Drawdown Comparison
The maximum FSPCX drawdown since its inception was -69.48%, which is greater than FNCL's maximum drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for FSPCX and FNCL.
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Drawdown Indicators
| FSPCX | FNCL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.48% | -44.38% | -25.10% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -14.78% | +4.80% |
Max Drawdown (3Y)Largest decline over 3 years | -11.69% | -17.29% | +5.60% |
Max Drawdown (5Y)Largest decline over 5 years | -16.65% | -25.68% | +9.03% |
Max Drawdown (10Y)Largest decline over 10 years | -43.68% | -44.38% | +0.70% |
Current DrawdownCurrent decline from peak | -1.12% | -0.18% | -0.94% |
Average DrawdownAverage peak-to-trough decline | -9.69% | -6.88% | -2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.89% | 5.70% | -0.81% |
Volatility
FSPCX vs. FNCL - Volatility Comparison
Fidelity Select Insurance Portfolio (FSPCX) has a higher volatility of 5.61% compared to Fidelity MSCI Financials Index ETF (FNCL) at 4.13%. This indicates that FSPCX's price experiences larger fluctuations and is considered to be riskier than FNCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSPCX | FNCL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.61% | 4.13% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 12.06% | 11.44% | +0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.99% | 15.04% | +0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.54% | 19.17% | -1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.05% | 22.27% | -2.22% |
FSPCX vs. FNCL - Expense Ratio Comparison
FSPCX has a 0.78% expense ratio, which is higher than FNCL's 0.08% expense ratio.
Dividends
FSPCX vs. FNCL - Dividend Comparison
FSPCX's dividend yield for the trailing twelve months is around 4.35%, more than FNCL's 1.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNCL Fidelity MSCI Financials Index ETF | 1.58% | 1.45% | 1.52% | 1.91% | 2.29% | 1.75% | 2.26% | 2.17% | 2.37% | 1.60% | 1.81% | 2.17% |
FSPCX Fidelity Select Insurance Portfolio | 4.35% | 3.35% | 8.72% | 8.48% | 0.74% | 8.40% | 8.80% | 6.90% | 32.69% | 12.52% | 2.81% | 3.11% |
Frequently Asked Questions
FSPCX and FNCL have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSPCX has higher volatility (5.61%) compared to FNCL (4.13%). In terms of maximum drawdown, FSPCX dropped -69.48% vs FNCL's -44.38%.
FNCL currently has the higher Sharpe Ratio (0.65 vs 0.58), 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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