FSPCX vs. QQQM

Last updated Jun 13, 2026

FSPCX (Fidelity Select Insurance Portfolio) and QQQM (Invesco NASDAQ 100 ETF) are both funds - FSPCX is a Financials Equities fund managed by Fidelity, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 5 years, FSPCX returned 11.71%/yr vs 16.94%/yr for QQQM. At a 0.30 correlation, their price movements are largely independent. FSPCX charges 0.78%/yr vs 0.15%/yr for QQQM.

Performance

FSPCX vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Insurance Portfolio (FSPCX) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSPCX achieves a -0.79% return, which is significantly lower than QQQM's 17.59% return.

FSPCX

• 1D: 0.03%
• 1M: 2.47%
• YTD: -0.79%
• 6M: -0.60%
• 1Y: -0.58%
• 3Y*: 14.50%
• 5Y*: 11.71%
• 10Y*: 12.26%

QQQM

• 1D: 0.67%
• 1M: 1.75%
• YTD: 17.59%
• 6M: 17.91%
• 1Y: 37.64%
• 3Y*: 26.52%
• 5Y*: 16.94%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FSPCX vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FSPCX Fidelity Select Insurance Portfolio	-0.79%	3.45%	28.44%	12.98%	7.75%	29.26%	12.35%
QQQM Invesco NASDAQ 100 ETF	17.59%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.64%

Correlation

The correlation between FSPCX and QQQM is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.30

The correlation between FSPCX and QQQM shifts across timeframes, from -0.08 (1 year) to 0.31 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FSPCX vs. QQQM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FSPCX

FSPCX Risk / Return Rank: 4
FSPCX Sharpe Ratio Rank: 4
FSPCX Sortino Ratio Rank: 4
FSPCX Omega Ratio Rank: 4
FSPCX Calmar Ratio Rank: 4
FSPCX Martin Ratio Rank: 4

QQQM

QQQM Risk / Return Rank: 72
QQQM Sharpe Ratio Rank: 76
QQQM Sortino Ratio Rank: 71
QQQM Omega Ratio Rank: 73
QQQM Calmar Ratio Rank: 69
QQQM Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FSPCX vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Insurance Portfolio (FSPCX) and Invesco NASDAQ 100 ETF (QQQM). 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	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	2.11	-2.12
Sortino ratio: Return per unit of downside risk	0.10	2.74	-2.65
Omega ratio: Gain probability vs. loss probability	1.01	1.37	-0.36
Calmar ratio: Return relative to maximum drawdown	-0.01	3.02	-3.03
Martin ratio: Return relative to average drawdown	-0.03	11.23	-11.26

FSPCX vs. QQQM - Sharpe Ratio Comparison

The current FSPCX Sharpe Ratio is -0.01, which is lower than the QQQM Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of FSPCX and QQQM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FSPCX vs. QQQM - Drawdown Comparison

The maximum FSPCX drawdown since its inception was -69.48%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for FSPCX and QQQM.

Drawdown Indicators

	FSPCX	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-69.48%	-35.04%	-34.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.98%	-11.96%	+1.98%
Max Drawdown (3Y) Largest decline over 3 years	-11.69%	-22.70%	+11.01%
Max Drawdown (5Y) Largest decline over 5 years	-16.65%	-35.04%	+18.39%
Max Drawdown (10Y) Largest decline over 10 years	-43.68%	—	—
Current Drawdown Current decline from peak	-5.50%	-3.33%	-2.17%
Average Drawdown Average peak-to-trough decline	-9.70%	-8.23%	-1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.98%	3.21%	+1.77%

Volatility

FSPCX vs. QQQM - Volatility Comparison

The current volatility for Fidelity Select Insurance Portfolio (FSPCX) is 5.74%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 7.45%. This indicates that FSPCX experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSPCX	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.74%	7.45%	-1.71%
Volatility (6M) Calculated over the trailing 6-month period	11.31%	13.71%	-2.40%
Volatility (1Y) Calculated over the trailing 1-year period	15.53%	17.11%	-1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.59%	22.40%	-4.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.12%	22.22%	-2.10%

FSPCX vs. QQQM - Expense Ratio Comparison

FSPCX has a 0.78% expense ratio, which is higher than QQQM's 0.15% expense ratio.

Dividends

FSPCX vs. QQQM - Dividend Comparison

FSPCX's dividend yield for the trailing twelve months is around 4.74%, more than QQQM's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSPCX Fidelity Select Insurance Portfolio	4.74%	3.35%	8.72%	8.48%	0.74%	8.40%	8.80%	6.90%	32.69%	12.52%	2.81%	3.11%
QQQM Invesco NASDAQ 100 ETF	0.43%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSPCX and QQQM in my portfolio?

FSPCX and QQQM have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSPCX or QQQM?

QQQM has higher volatility (7.45%) compared to FSPCX (5.74%). In terms of maximum drawdown, FSPCX dropped -69.48% vs QQQM's -35.04%.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.11 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.