FSRBX vs. HSFNX

Last updated Jun 4, 2026

FSRBX (Fidelity Select Banking Portfolio) and HSFNX (Hennessy Small Cap Financial Fund) are both Financials Equities funds. Over the past 10 years, FSRBX returned 10.83%/yr vs 9.19%/yr for HSFNX. Their correlation of 0.84 suggests significant overlap in exposure. FSRBX charges 0.73%/yr vs 1.58%/yr for HSFNX.

Performance

FSRBX vs. HSFNX - Performance Comparison

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

Returns By Period

In the year-to-date period, FSRBX achieves a 4.61% return, which is significantly lower than HSFNX's 7.11% return. Over the past 10 years, FSRBX has outperformed HSFNX with an annualized return of 10.83%, while HSFNX has yielded a comparatively lower 9.19% annualized return.

FSRBX

• 1D: 1.94%
• 1M: 0.70%
• YTD: 4.61%
• 6M: -0.26%
• 1Y: 19.05%
• 3Y*: 24.84%
• 5Y*: 7.55%
• 10Y*: 10.83%

HSFNX

• 1D: 1.45%
• 1M: 0.96%
• YTD: 7.11%
• 6M: 6.37%
• 1Y: 29.76%
• 3Y*: 20.59%
• 5Y*: 4.68%
• 10Y*: 9.19%

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

FSRBX vs. HSFNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSRBX Fidelity Select Banking Portfolio	4.61%	11.11%	30.13%	8.48%	-12.61%	38.21%	-11.73%	35.60%	-19.04%	12.72%
HSFNX Hennessy Small Cap Financial Fund	7.11%	12.79%	10.76%	4.64%	-11.14%	42.76%	2.56%	19.91%	-15.88%	-0.20%

Correlation

The correlation between FSRBX and HSFNX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 5, 1998	0.84

The correlation between FSRBX and HSFNX has been stable across timeframes, ranging from 0.84 to 0.94 - a consistent structural relationship.

Return for Risk

FSRBX vs. HSFNX — Risk / Return Rank

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

FSRBX

FSRBX Risk / Return Rank: 13
FSRBX Sharpe Ratio Rank: 12
FSRBX Sortino Ratio Rank: 11
FSRBX Omega Ratio Rank: 13
FSRBX Calmar Ratio Rank: 15
FSRBX Martin Ratio Rank: 12

HSFNX

HSFNX Risk / Return Rank: 26
HSFNX Sharpe Ratio Rank: 21
HSFNX Sortino Ratio Rank: 21
HSFNX Omega Ratio Rank: 23
HSFNX Calmar Ratio Rank: 38
HSFNX Martin Ratio Rank: 25

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. HSFNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Banking Portfolio (FSRBX) and Hennessy Small Cap Financial Fund (HSFNX). 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.

	FSRBX	HSFNX	Difference
Sharpe ratio: Return per unit of total volatility	0.93	1.32	-0.39
Sortino ratio: Return per unit of downside risk	1.31	1.91	-0.60
Omega ratio: Gain probability vs. loss probability	1.18	1.25	-0.06
Calmar ratio: Return relative to maximum drawdown	1.34	2.33	-0.99
Martin ratio: Return relative to average drawdown	3.53	6.12	-2.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSRBX vs. HSFNX - Sharpe Ratio Comparison

The current FSRBX Sharpe Ratio is 0.93, which is comparable to the HSFNX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of FSRBX and HSFNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FSRBX	HSFNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	1.32	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.17	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.31	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.18	+0.25

Drawdowns

FSRBX vs. HSFNX - Drawdown Comparison

The maximum FSRBX drawdown since its inception was -76.89%, which is greater than HSFNX's maximum drawdown of -70.18%. Use the drawdown chart below to compare losses from any high point for FSRBX and HSFNX.

Drawdown Indicators

	FSRBX	HSFNX	Difference
Max Drawdown Largest peak-to-trough decline	-76.89%	-70.18%	-6.71%
Max Drawdown (1Y) Largest decline over 1 year	-15.60%	-13.61%	-1.99%
Max Drawdown (3Y) Largest decline over 3 years	-26.05%	-27.33%	+1.28%
Max Drawdown (5Y) Largest decline over 5 years	-41.95%	-43.00%	+1.05%
Max Drawdown (10Y) Largest decline over 10 years	-51.23%	-50.68%	-0.55%
Current Drawdown Current decline from peak	-5.86%	-4.83%	-1.03%
Average Drawdown Average peak-to-trough decline	-13.27%	-26.02%	+12.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.91%	5.18%	+0.73%

Volatility

FSRBX vs. HSFNX - Volatility Comparison

Fidelity Select Banking Portfolio (FSRBX) and Hennessy Small Cap Financial Fund (HSFNX) have volatilities of 5.53% and 5.69%, 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

	FSRBX	HSFNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.53%	5.69%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	16.99%	15.52%	+1.47%
Volatility (1Y) Calculated over the trailing 1-year period	22.65%	24.06%	-1.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.87%	27.44%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.51%	29.32%	+0.19%

FSRBX vs. HSFNX - Expense Ratio Comparison

FSRBX has a 0.73% expense ratio, which is lower than HSFNX's 1.58% expense ratio.

Dividends

FSRBX vs. HSFNX - Dividend Comparison

FSRBX's dividend yield for the trailing twelve months is around 2.28%, less than HSFNX's 10.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSRBX Fidelity Select Banking Portfolio	2.28%	1.47%	4.49%	5.35%	6.12%	3.36%	8.63%	5.90%	32.02%	2.57%	0.76%	5.64%
HSFNX Hennessy Small Cap Financial Fund	10.26%	10.99%	5.97%	4.63%	9.14%	0.97%	0.91%	3.43%	7.34%	8.19%	12.46%	7.38%

Frequently Asked Questions

Can I hold both FSRBX and HSFNX in my portfolio?

With a correlation of 0.92, FSRBX and HSFNX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FSRBX or HSFNX?

HSFNX has higher volatility (5.69%) compared to FSRBX (5.53%). In terms of maximum drawdown, FSRBX dropped -76.89% vs HSFNX's -70.18%.

Which has better risk-adjusted returns?

HSFNX currently has the higher Sharpe Ratio (1.32 vs 0.93), 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.