FSRBX vs. FSPCX

Last updated Jun 23, 2026

FSRBX (Fidelity Select Banking Portfolio) and FSPCX (Fidelity Select Insurance Portfolio) are both Financials Equities funds from Fidelity. Over the past 10 years, FSRBX returned 11.81%/yr vs 12.21%/yr for FSPCX. A 0.74 correlation means they provide meaningful diversification when combined. FSRBX charges 0.73%/yr vs 0.78%/yr for FSPCX.

Performance

FSRBX vs. FSPCX - Performance Comparison

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

Returns By Period

In the year-to-date period, FSRBX achieves a 9.07% return, which is significantly higher than FSPCX's -1.39% return. Both investments have delivered pretty close results over the past 10 years, with FSRBX having a 11.81% annualized return and FSPCX not far ahead at 12.21%.

FSRBX

• 1D: 0.17%
• 1M: 4.95%
• YTD: 9.07%
• 6M: -1.07%
• 1Y: 24.58%
• 3Y*: 25.63%
• 5Y*: 10.72%
• 10Y*: 11.81%

FSPCX

• 1D: -0.81%
• 1M: 0.09%
• YTD: -1.39%
• 6M: -2.10%
• 1Y: -1.08%
• 3Y*: 13.74%
• 5Y*: 13.04%
• 10Y*: 12.21%

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

FSRBX vs. FSPCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSRBX Fidelity Select Banking Portfolio	9.07%	11.11%	30.13%	8.48%	-12.61%	38.21%	-11.73%	35.60%	-19.04%	12.72%
FSPCX Fidelity Select Insurance Portfolio	-1.39%	3.45%	28.44%	12.98%	7.75%	29.26%	0.00%	30.06%	-11.99%	15.50%

Correlation

The correlation between FSRBX and FSPCX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jun 30, 1986	0.74

Over the past year, the correlation between FSRBX and FSPCX has dropped to 0.49 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

FSRBX vs. FSPCX — Risk / Return Rank

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

FSRBX

FSRBX Risk / Return Rank: 19
FSRBX Sharpe Ratio Rank: 18
FSRBX Sortino Ratio Rank: 16
FSRBX Omega Ratio Rank: 20
FSRBX Calmar Ratio Rank: 23
FSRBX Martin Ratio Rank: 18

FSPCX

FSPCX Risk / Return Rank: 3
FSPCX Sharpe Ratio Rank: 3
FSPCX Sortino Ratio Rank: 3
FSPCX Omega Ratio Rank: 3
FSPCX Calmar Ratio Rank: 2
FSPCX Martin Ratio Rank: 3

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.

FSRBX vs. FSPCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Banking Portfolio (FSRBX) and Fidelity Select Insurance Portfolio (FSPCX). 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.

	FSRBX	FSPCX	Difference
Sharpe ratio: Return per unit of total volatility	1.13	-0.03	+1.16
Sortino ratio: Return per unit of downside risk	1.55	0.06	+1.49
Omega ratio: Gain probability vs. loss probability	1.22	1.01	+0.21
Calmar ratio: Return relative to maximum drawdown	1.64	-0.05	+1.69
Martin ratio: Return relative to average drawdown	4.30	-0.10	+4.40

FSRBX vs. FSPCX - Sharpe Ratio Comparison

The current FSRBX Sharpe Ratio is 1.13, which is higher than the FSPCX Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of FSRBX and FSPCX, 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

FSRBX vs. FSPCX - Drawdown Comparison

The maximum FSRBX drawdown since its inception was -76.89%, which is greater than FSPCX's maximum drawdown of -69.48%. Use the drawdown chart below to compare losses from any high point for FSRBX and FSPCX.

Drawdown Indicators

	FSRBX	FSPCX	Difference
Max Drawdown Largest peak-to-trough decline	-76.89%	-69.48%	-7.41%
Max Drawdown (1Y) Largest decline over 1 year	-15.60%	-9.98%	-5.62%
Max Drawdown (3Y) Largest decline over 3 years	-26.05%	-11.69%	-14.36%
Max Drawdown (5Y) Largest decline over 5 years	-41.95%	-16.65%	-25.30%
Max Drawdown (10Y) Largest decline over 10 years	-51.23%	-43.68%	-7.55%
Current Drawdown Current decline from peak	-1.90%	-6.07%	+4.17%
Average Drawdown Average peak-to-trough decline	-13.25%	-9.70%	-3.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.94%	5.00%	+0.94%

Volatility

FSRBX vs. FSPCX - Volatility Comparison

Fidelity Select Banking Portfolio (FSRBX) has a higher volatility of 6.16% compared to Fidelity Select Insurance Portfolio (FSPCX) at 5.06%. This indicates that FSRBX's price experiences larger fluctuations and is considered to be riskier than FSPCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSRBX	FSPCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.16%	5.06%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	17.28%	10.95%	+6.33%
Volatility (1Y) Calculated over the trailing 1-year period	22.78%	15.46%	+7.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.82%	17.50%	+9.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.52%	20.12%	+9.40%

FSRBX vs. FSPCX - Expense Ratio Comparison

FSRBX has a 0.73% expense ratio, which is lower than FSPCX's 0.78% expense ratio.

Dividends

FSRBX vs. FSPCX - Dividend Comparison

FSRBX's dividend yield for the trailing twelve months is around 2.19%, less than FSPCX's 4.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSPCX Fidelity Select Insurance Portfolio	4.77%	3.35%	8.72%	8.48%	0.74%	8.40%	8.80%	6.90%	32.69%	12.52%	2.81%	3.11%
FSRBX Fidelity Select Banking Portfolio	2.19%	1.47%	4.49%	5.35%	6.12%	3.36%	8.63%	5.90%	32.02%	2.57%	0.76%	5.64%

Frequently Asked Questions

Can I hold both FSRBX and FSPCX in my portfolio?

FSRBX and FSPCX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSRBX or FSPCX?

FSRBX has higher volatility (6.16%) compared to FSPCX (5.06%). In terms of maximum drawdown, FSRBX dropped -76.89% vs FSPCX's -69.48%.

Which has better risk-adjusted returns?

FSRBX currently has the higher Sharpe Ratio (1.13 vs -0.03), 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.