FSRFX vs. FOCPX

Last updated Jun 24, 2026

FSRFX (Fidelity Select Transportation Portfolio) and FOCPX (Fidelity OTC Portfolio) are both mutual funds - FSRFX is a Transportation Equities fund actively managed by Fidelity, while FOCPX is a Large Cap Growth Equities fund actively managed by Fidelity. Both are actively managed. Over the past 10 years, FSRFX returned 13.37%/yr vs 23.35%/yr for FOCPX. A 0.65 correlation means they provide meaningful diversification when combined. FSRFX charges 0.69%/yr vs 0.73%/yr for FOCPX.

Performance

FSRFX vs. FOCPX - Performance Comparison

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

Returns By Period

In the year-to-date period, FSRFX achieves a 16.75% return, which is significantly lower than FOCPX's 27.02% return. Over the past 10 years, FSRFX has underperformed FOCPX with an annualized return of 13.37%, while FOCPX has yielded a comparatively higher 23.35% annualized return.

FSRFX

• 1D: 0.64%
• 1M: 4.55%
• YTD: 16.75%
• 6M: 15.45%
• 1Y: 31.35%
• 3Y*: 15.28%
• 5Y*: 10.24%
• 10Y*: 13.37%

FOCPX

• 1D: -1.94%
• 1M: 3.84%
• YTD: 27.02%
• 6M: 26.34%
• 1Y: 56.84%
• 3Y*: 34.18%
• 5Y*: 18.07%
• 10Y*: 23.35%

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

FSRFX vs. FOCPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSRFX Fidelity Select Transportation Portfolio	16.75%	11.45%	6.33%	19.29%	-10.21%	27.79%	12.83%	18.43%	-11.02%	22.00%
FOCPX Fidelity OTC Portfolio	27.02%	22.21%	38.95%	42.64%	-32.08%	24.94%	46.75%	39.20%	-3.30%	38.61%

Correlation

The correlation between FSRFX and FOCPX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Sep 29, 1986	0.65

Over the past year, the correlation between FSRFX and FOCPX has dropped to 0.42 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

Return for Risk

FSRFX vs. FOCPX — Risk / Return Rank

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

FSRFX

FSRFX Risk / Return Rank: 43
FSRFX Sharpe Ratio Rank: 36
FSRFX Sortino Ratio Rank: 34
FSRFX Omega Ratio Rank: 33
FSRFX Calmar Ratio Rank: 62
FSRFX Martin Ratio Rank: 47

FOCPX

FOCPX Risk / Return Rank: 90
FOCPX Sharpe Ratio Rank: 94
FOCPX Sortino Ratio Rank: 84
FOCPX Omega Ratio Rank: 82
FOCPX Calmar Ratio Rank: 94
FOCPX Martin Ratio Rank: 96

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.

FSRFX vs. FOCPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Transportation Portfolio (FSRFX) and Fidelity OTC Portfolio (FOCPX). 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.

	FSRFX	FOCPX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.97	-1.37
Sortino ratio: Return per unit of downside risk	2.28	3.68	-1.40
Omega ratio: Gain probability vs. loss probability	1.28	1.50	-0.22
Calmar ratio: Return relative to maximum drawdown	2.90	5.13	-2.23
Martin ratio: Return relative to average drawdown	9.27	21.70	-12.43

FSRFX vs. FOCPX - Sharpe Ratio Comparison

The current FSRFX Sharpe Ratio is 1.61, which is lower than the FOCPX Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of FSRFX and FOCPX, 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

FSRFX vs. FOCPX - Drawdown Comparison

The maximum FSRFX drawdown since its inception was -60.34%, smaller than the maximum FOCPX drawdown of -70.25%. Use the drawdown chart below to compare losses from any high point for FSRFX and FOCPX.

Drawdown Indicators

	FSRFX	FOCPX	Difference
Max Drawdown Largest peak-to-trough decline	-60.34%	-70.25%	+9.91%
Max Drawdown (1Y) Largest decline over 1 year	-11.69%	-11.29%	-0.40%
Max Drawdown (3Y) Largest decline over 3 years	-25.23%	-24.82%	-0.41%
Max Drawdown (5Y) Largest decline over 5 years	-25.23%	-37.05%	+11.82%
Max Drawdown (10Y) Largest decline over 10 years	-41.11%	-37.05%	-4.06%
Current Drawdown Current decline from peak	-2.29%	-2.00%	-0.29%
Average Drawdown Average peak-to-trough decline	-8.53%	-16.99%	+8.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.65%	2.66%	+0.99%

Volatility

FSRFX vs. FOCPX - Volatility Comparison

The current volatility for Fidelity Select Transportation Portfolio (FSRFX) is 7.30%, while Fidelity OTC Portfolio (FOCPX) has a volatility of 9.00%. This indicates that FSRFX experiences smaller price fluctuations and is considered to be less risky than FOCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSRFX	FOCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.30%	9.00%	-1.70%
Volatility (6M) Calculated over the trailing 6-month period	16.61%	15.82%	+0.79%
Volatility (1Y) Calculated over the trailing 1-year period	21.18%	19.52%	+1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.94%	22.94%	-2.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.98%	22.57%	-0.59%

FSRFX vs. FOCPX - Expense Ratio Comparison

FSRFX has a 0.69% expense ratio, which is lower than FOCPX's 0.73% expense ratio.

Dividends

FSRFX vs. FOCPX - Dividend Comparison

FSRFX's dividend yield for the trailing twelve months is around 7.97%, more than FOCPX's 6.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOCPX Fidelity OTC Portfolio	6.12%	7.78%	16.76%	0.05%	4.06%	11.53%	6.23%	7.58%	7.93%	4.86%	3.24%	5.41%
FSRFX Fidelity Select Transportation Portfolio	7.97%	4.18%	7.02%	2.68%	8.82%	12.00%	7.97%	3.98%	11.42%	5.16%	1.97%	7.51%

Frequently Asked Questions

Can I hold both FSRFX and FOCPX in my portfolio?

FSRFX and FOCPX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSRFX or FOCPX?

FOCPX has higher volatility (9.00%) compared to FSRFX (7.30%). In terms of maximum drawdown, FSRFX dropped -60.34% vs FOCPX's -70.25%.

Which has better risk-adjusted returns?

FOCPX currently has the higher Sharpe Ratio (2.97 vs 1.61), 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.