FSPHX vs. FZILX

Last updated Jun 16, 2026

FSPHX (Fidelity® Select Health Care Portfolio) and FZILX (Fidelity ZERO International Index Fund) are both mutual funds - FSPHX is a Health & Biotech Equities fund actively managed by Fidelity, while FZILX is a Foreign Large Cap Equities fund tracking the Fidelity Global ex U.S. Index. FSPHX is actively managed, while FZILX is passively managed. Over the past 5 years, FSPHX returned 1.32%/yr vs 8.89%/yr for FZILX. A 0.61 correlation means they provide meaningful diversification when combined. FSPHX charges 0.69%/yr vs 0.00%/yr for FZILX.

Performance

FSPHX vs. FZILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity® Select Health Care Portfolio (FSPHX) and Fidelity ZERO International Index Fund (FZILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSPHX achieves a -0.77% return, which is significantly lower than FZILX's 14.46% return.

FSPHX

• 1D: 0.16%
• 1M: 6.05%
• YTD: -0.77%
• 6M: -7.66%
• 1Y: 10.89%
• 3Y*: 4.32%
• 5Y*: 1.32%
• 10Y*: 9.21%

FZILX

• 1D: 0.60%
• 1M: 3.44%
• YTD: 14.46%
• 6M: 15.88%
• 1Y: 31.18%
• 3Y*: 19.17%
• 5Y*: 8.89%
• 10Y*: —

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

FSPHX vs. FZILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FSPHX Fidelity® Select Health Care Portfolio	-0.77%	9.36%	4.91%	4.13%	-12.82%	11.58%	24.57%	31.48%	-9.93%
FZILX Fidelity ZERO International Index Fund	14.46%	33.52%	5.32%	16.28%	-15.96%	8.19%	11.06%	21.69%	-9.38%

Correlation

The correlation between FSPHX and FZILX is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018	0.61

The correlation between FSPHX and FZILX shifts across timeframes, from 0.50 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FSPHX vs. FZILX — Risk / Return Rank

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

FSPHX

FSPHX Risk / Return Rank: 8
FSPHX Sharpe Ratio Rank: 9
FSPHX Sortino Ratio Rank: 9
FSPHX Omega Ratio Rank: 9
FSPHX Calmar Ratio Rank: 8
FSPHX Martin Ratio Rank: 6

FZILX

FZILX Risk / Return Rank: 58
FZILX Sharpe Ratio Rank: 58
FZILX Sortino Ratio Rank: 53
FZILX Omega Ratio Rank: 59
FZILX Calmar Ratio Rank: 61
FZILX Martin Ratio Rank: 58

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.

FSPHX vs. FZILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity® Select Health Care Portfolio (FSPHX) and Fidelity ZERO International Index Fund (FZILX). 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.

	FSPHX	FZILX	Difference
Sharpe ratio: Return per unit of total volatility	0.57	1.90	-1.33
Sortino ratio: Return per unit of downside risk	0.89	2.60	-1.70
Omega ratio: Gain probability vs. loss probability	1.11	1.36	-0.24
Calmar ratio: Return relative to maximum drawdown	0.57	2.64	-2.07
Martin ratio: Return relative to average drawdown	1.23	10.15	-8.92

FSPHX vs. FZILX - Sharpe Ratio Comparison

The current FSPHX Sharpe Ratio is 0.57, which is lower than the FZILX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of FSPHX and FZILX, 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

FSPHX vs. FZILX - Drawdown Comparison

The maximum FSPHX drawdown since its inception was -44.45%, which is greater than FZILX's maximum drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for FSPHX and FZILX.

Drawdown Indicators

	FSPHX	FZILX	Difference
Max Drawdown Largest peak-to-trough decline	-44.45%	-34.37%	-10.08%
Max Drawdown (1Y) Largest decline over 1 year	-18.32%	-11.24%	-7.08%
Max Drawdown (3Y) Largest decline over 3 years	-18.32%	-13.47%	-4.85%
Max Drawdown (5Y) Largest decline over 5 years	-29.31%	-29.87%	+0.56%
Max Drawdown (10Y) Largest decline over 10 years	-29.31%	—	—
Current Drawdown Current decline from peak	-10.27%	-1.58%	-8.69%
Average Drawdown Average peak-to-trough decline	-9.83%	-6.68%	-3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.47%	2.92%	+5.55%

Volatility

FSPHX vs. FZILX - Volatility Comparison

Fidelity® Select Health Care Portfolio (FSPHX) and Fidelity ZERO International Index Fund (FZILX) have volatilities of 6.57% and 6.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSPHX	FZILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	6.65%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	14.97%	13.40%	+1.57%
Volatility (1Y) Calculated over the trailing 1-year period	18.19%	15.59%	+2.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.42%	15.70%	+2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.05%	17.39%	+1.66%

FSPHX vs. FZILX - Expense Ratio Comparison

FSPHX has a 0.69% expense ratio, which is higher than FZILX's 0.00% expense ratio.

Dividends

FSPHX vs. FZILX - Dividend Comparison

FSPHX's dividend yield for the trailing twelve months is around 12.28%, more than FZILX's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSPHX Fidelity® Select Health Care Portfolio	12.28%	4.16%	10.77%	0.00%	2.13%	9.06%	11.29%	1.35%	9.02%	2.27%	0.18%	11.63%
FZILX Fidelity ZERO International Index Fund	2.34%	2.67%	3.00%	2.98%	2.71%	2.61%	1.64%	2.37%	0.02%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSPHX and FZILX in my portfolio?

FSPHX and FZILX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSPHX or FZILX?

FZILX has higher volatility (6.65%) compared to FSPHX (6.57%). In terms of maximum drawdown, FSPHX dropped -44.45% vs FZILX's -34.37%.

Which has better risk-adjusted returns?

FZILX currently has the higher Sharpe Ratio (1.90 vs 0.57), 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.