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FSUTX vs. SPAXX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FSUTX vs. SPAXX

Last updated Jun 13, 2026

FSUTX (Fidelity Select Utilities Portfolio) and SPAXX (Fidelity Government Money Market Fund) are both mutual funds - FSUTX is a Utilities Equities fund managed by Fidelity, while SPAXX is a Money Market fund actively managed by Fidelity. Over the past 5 years, FSUTX returned 12.32%/yr vs 1.45%/yr for SPAXX. At a 0.03 correlation, their price movements are largely independent. FSUTX charges 0.74%/yr vs 0.42%/yr for SPAXX.

Performance

FSUTX vs. SPAXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Utilities Portfolio (FSUTX) and Fidelity Government Money Market Fund (SPAXX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FSUTX achieves a 3.35% return, which is significantly higher than SPAXX's 1.37% return.

FSUTX

1D
0.51%
1M
-2.96%
YTD
3.35%
6M
3.29%
1Y
12.47%
3Y*
16.47%
5Y*
12.32%
10Y*
11.35%

SPAXX

1D
0.00%
1M
0.28%
YTD
1.37%
6M
1.67%
1Y
3.66%
3Y*
2.42%
5Y*
1.45%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FSUTX vs. SPAXX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
FSUTX
Fidelity Select Utilities Portfolio		3.35%16.19%28.76%-1.12%5.20%12.44%
SPAXX
Fidelity Government Money Market Fund		1.37%3.96%1.54%0.41%0.00%0.00%

Correlation

The correlation between FSUTX and SPAXX is 0.01, 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 (1Y)
Calculated over the trailing 1-year period

0.01

Correlation (3Y)
Calculated over the trailing 3-year period

0.03

Correlation (5Y)
Calculated over the trailing 5-year period

0.03

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

0.03

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity Select Utilities Portfolio

Fidelity Government Money Market Fund

Often compared with FSUTX:
FSUTX vs. FUTYFSUTX vs. FIUIXFSUTX vs. VPUFSUTX vs. XLUFSUTX vs. FDFAXFSUTX vs. RCTIXFSUTX vs. VUG
Often compared with SPAXX:
SPAXX vs. SGOVSPAXX vs. VMFXXSPAXX vs. SNSXXSPAXX vs. SWVXXSPAXX vs. BILSPAXX vs. BNDSPAXX vs. TFLO

Return for Risk

FSUTX vs. SPAXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FSUTX
FSUTX Risk / Return Rank: 1818
Overall Rank
FSUTX Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
FSUTX Sortino Ratio Rank: 1515
Sortino Ratio Rank
FSUTX Omega Ratio Rank: 1515
Omega Ratio Rank
FSUTX Calmar Ratio Rank: 2727
Calmar Ratio Rank
FSUTX Martin Ratio Rank: 1616
Martin Ratio Rank
SPAXX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FSUTX vs. SPAXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Utilities Portfolio (FSUTX) and Fidelity Government Money Market Fund (SPAXX). 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.

FSUTXSPAXXDifference
Sharpe ratioReturn per unit of total volatility
0.86
3.65

-2.79

Sortino ratioReturn per unit of downside risk
1.24

—

—

Omega ratioGain probability vs. loss probability

1.15

—

—

Calmar ratioReturn relative to maximum drawdown

1.52

—

—

Martin ratioReturn relative to average drawdown

3.41

—

—

FSUTX vs. SPAXX - Sharpe Ratio Comparison

The current FSUTX Sharpe Ratio is 0.86, which is lower than the SPAXX Sharpe Ratio of 3.65. The chart below compares the historical Sharpe Ratios of FSUTX and SPAXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FSUTX vs. SPAXX - Drawdown Comparison

The maximum FSUTX drawdown since its inception was -66.73%, which is greater than SPAXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FSUTX and SPAXX.

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Drawdown Indicators

FSUTXSPAXXDifference

Max Drawdown

Largest peak-to-trough decline

-66.73%

0.00%

-66.73%

Max Drawdown (1Y)

Largest decline over 1 year

-9.21%

0.00%

-9.21%

Max Drawdown (3Y)

Largest decline over 3 years

-15.20%

0.00%

-15.20%

Max Drawdown (5Y)

Largest decline over 5 years

-20.15%

0.00%

-20.15%

Max Drawdown (10Y)

Largest decline over 10 years

-37.61%

—

—

Current Drawdown

Current decline from peak

-7.63%

0.00%

-7.63%

Average Drawdown

Average peak-to-trough decline

-11.25%

0.00%

-11.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.11%

0.00%

+4.11%

Volatility

FSUTX vs. SPAXX - Volatility Comparison

Fidelity Select Utilities Portfolio (FSUTX) has a higher volatility of 5.96% compared to Fidelity Government Money Market Fund (SPAXX) at 0.28%. This indicates that FSUTX's price experiences larger fluctuations and is considered to be riskier than SPAXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FSUTXSPAXXDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.96%

0.28%

+5.68%

Volatility (6M)

Calculated over the trailing 6-month period

13.09%

0.66%

+12.43%

Volatility (1Y)

Calculated over the trailing 1-year period

16.35%

1.03%

+15.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.42%

0.69%

+16.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.40%

0.69%

+18.71%

FSUTX vs. SPAXX - Expense Ratio Comparison

FSUTX has a 0.74% expense ratio, which is higher than SPAXX's 0.42% expense ratio.

Dividends

FSUTX vs. SPAXX - Dividend Comparison

FSUTX's dividend yield for the trailing twelve months is around 5.08%, more than SPAXX's 3.59% yield.

PositionTTM20252024202320222021202020192018201720162015
FSUTX
Fidelity Select Utilities Portfolio		5.08%6.61%6.50%3.52%4.67%2.68%4.86%2.29%8.37%5.61%2.51%4.47%
SPAXX
Fidelity Government Money Market Fund		3.59%3.88%1.53%0.41%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FSUTX and SPAXX have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FSUTX has higher volatility (5.96%) compared to SPAXX (0.28%). In terms of maximum drawdown, FSUTX dropped -66.73% vs SPAXX's 0.00%.

SPAXX currently has the higher Sharpe Ratio (3.65 vs 0.86), 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.

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