FSPTX vs. SPAX

Last updated Jun 4, 2026

FSPTX (Fidelity Select Technology Portfolio) and SPAX (Robinson Alternative Yield Pre-merger SPAC ETF) are both funds - FSPTX is a Technology Equities fund managed by Fidelity, while SPAX is a Event Driven fund actively managed by Toroso Investments. At a 0.02 correlation, their price movements are largely independent. FSPTX charges 0.67%/yr vs 0.85%/yr for SPAX.

Performance

FSPTX vs. SPAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Technology Portfolio (FSPTX) and Robinson Alternative Yield Pre-merger SPAC ETF (SPAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FSPTX

• 1D: 2.81%
• 1M: 23.40%
• YTD: 47.21%
• 6M: 44.91%
• 1Y: 83.50%
• 3Y*: 42.95%
• 5Y*: 25.32%
• 10Y*: 27.99%

SPAX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FSPTX vs. SPAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSPTX Fidelity Select Technology Portfolio	47.21%	23.37%	41.76%	59.83%	-36.91%	11.53%
SPAX Robinson Alternative Yield Pre-merger SPAC ETF	0.00%	0.02%	5.11%	6.63%	1.25%	2.19%

Correlation

The correlation between FSPTX and SPAX is 0.02, 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 (3Y) Calculated over the trailing 3-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jun 24, 2021	0.02

Return for Risk

FSPTX vs. SPAX — Risk / Return Rank

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

FSPTX

FSPTX Risk / Return Rank: 94
FSPTX Sharpe Ratio Rank: 98
FSPTX Sortino Ratio Rank: 93
FSPTX Omega Ratio Rank: 89
FSPTX Calmar Ratio Rank: 96
FSPTX Martin Ratio Rank: 95

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.

FSPTX vs. SPAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Technology Portfolio (FSPTX) and Robinson Alternative Yield Pre-merger SPAC ETF (SPAX). 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.

	FSPTX	SPAX	Difference
Sharpe ratio Return per unit of total volatility	4.04	—	—
Sortino ratio Return per unit of downside risk	4.66	—	—
Omega ratio Gain probability vs. loss probability	1.62	—	—
Calmar ratio Return relative to maximum drawdown	6.36	—	—
Martin ratio Return relative to average drawdown	21.78	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FSPTX	SPAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.04	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	—	—

Drawdowns

Drawdown Indicators

	FSPTX	SPAX	Difference
Max Drawdown Largest peak-to-trough decline	-84.37%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-13.71%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-29.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.16%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.16%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-27.03%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.00%	—	—

Volatility

Volatility by Period

	FSPTX	SPAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.24%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.66%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.59%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.36%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.00%	—	—

FSPTX vs. SPAX - Expense Ratio Comparison

FSPTX has a 0.67% expense ratio, which is lower than SPAX's 0.85% expense ratio.

Dividends

FSPTX vs. SPAX - Dividend Comparison

FSPTX's dividend yield for the trailing twelve months is around 7.37%, while SPAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSPTX Fidelity Select Technology Portfolio	7.37%	9.06%	9.42%	0.01%	3.95%	11.62%	18.86%	1.86%	23.77%	8.32%	1.54%	4.19%
SPAX Robinson Alternative Yield Pre-merger SPAC ETF	0.00%	0.00%	5.50%	7.54%	0.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSPTX and SPAX in my portfolio?

FSPTX and SPAX have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.