FWRLX vs. PRMTX

Last updated Jun 5, 2026

FWRLX (Fidelity Select Wireless Portfolio) and PRMTX (T. Rowe Price Communications & Technology Fund) are both Communications Equities funds. Over the past 10 years, FWRLX returned 14.86%/yr vs 15.46%/yr for PRMTX. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.77% expense ratio.

Performance

FWRLX vs. PRMTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Wireless Portfolio (FWRLX) and T. Rowe Price Communications & Technology Fund (PRMTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FWRLX achieves a 40.69% return, which is significantly higher than PRMTX's 2.81% return. Both investments have delivered pretty close results over the past 10 years, with FWRLX having a 14.86% annualized return and PRMTX not far ahead at 15.46%.

FWRLX

• 1D: -0.78%
• 1M: 15.00%
• YTD: 40.69%
• 6M: 31.41%
• 1Y: 43.46%
• 3Y*: 24.19%
• 5Y*: 10.01%
• 10Y*: 14.86%

PRMTX

• 1D: -1.21%
• 1M: 3.22%
• YTD: 2.81%
• 6M: 0.97%
• 1Y: 1.66%
• 3Y*: 23.58%
• 5Y*: 6.91%
• 10Y*: 15.46%

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

FWRLX vs. PRMTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FWRLX Fidelity Select Wireless Portfolio	40.69%	2.20%	17.12%	25.97%	-27.86%	12.15%	33.39%	40.17%	-6.37%	24.87%
PRMTX T. Rowe Price Communications & Technology Fund	2.81%	6.86%	48.75%	39.30%	-40.90%	9.81%	53.69%	35.69%	-1.85%	33.00%

Correlation

The correlation between FWRLX and PRMTX is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Sep 22, 2000	0.85

Over the past year, the correlation between FWRLX and PRMTX has dropped to 0.55 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

Return for Risk

FWRLX vs. PRMTX — Risk / Return Rank

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

FWRLX

FWRLX Risk / Return Rank: 82
FWRLX Sharpe Ratio Rank: 84
FWRLX Sortino Ratio Rank: 77
FWRLX Omega Ratio Rank: 75
FWRLX Calmar Ratio Rank: 93
FWRLX Martin Ratio Rank: 84

PRMTX

PRMTX Risk / Return Rank: 4
PRMTX Sharpe Ratio Rank: 4
PRMTX Sortino Ratio Rank: 4
PRMTX Omega Ratio Rank: 4
PRMTX Calmar Ratio Rank: 4
PRMTX 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.

FWRLX vs. PRMTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Wireless Portfolio (FWRLX) and T. Rowe Price Communications & Technology Fund (PRMTX). 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.

	FWRLX	PRMTX	Difference
Sharpe ratio: Return per unit of total volatility	2.74	0.20	+2.54
Sortino ratio: Return per unit of downside risk	3.72	0.38	+3.34
Omega ratio: Gain probability vs. loss probability	1.49	1.04	+0.44
Calmar ratio: Return relative to maximum drawdown	5.11	0.17	+4.94
Martin ratio: Return relative to average drawdown	15.44	0.40	+15.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FWRLX vs. PRMTX - Sharpe Ratio Comparison

The current FWRLX Sharpe Ratio is 2.74, which is higher than the PRMTX Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of FWRLX and PRMTX, 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

	FWRLX	PRMTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.74	0.20	+2.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.32	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.74	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.63	-0.34

Drawdowns

FWRLX vs. PRMTX - Drawdown Comparison

The maximum FWRLX drawdown since its inception was -79.37%, which is greater than PRMTX's maximum drawdown of -66.30%. Use the drawdown chart below to compare losses from any high point for FWRLX and PRMTX.

Drawdown Indicators

	FWRLX	PRMTX	Difference
Max Drawdown Largest peak-to-trough decline	-79.37%	-66.30%	-13.07%
Max Drawdown (1Y) Largest decline over 1 year	-8.69%	-17.29%	+8.60%
Max Drawdown (3Y) Largest decline over 3 years	-15.81%	-20.69%	+4.88%
Max Drawdown (5Y) Largest decline over 5 years	-32.01%	-47.17%	+15.16%
Max Drawdown (10Y) Largest decline over 10 years	-32.01%	-47.17%	+15.16%
Current Drawdown Current decline from peak	-0.78%	-5.30%	+4.52%
Average Drawdown Average peak-to-trough decline	-20.40%	-13.95%	-6.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	7.20%	-4.34%

Volatility

FWRLX vs. PRMTX - Volatility Comparison

Fidelity Select Wireless Portfolio (FWRLX) has a higher volatility of 8.13% compared to T. Rowe Price Communications & Technology Fund (PRMTX) at 3.86%. This indicates that FWRLX's price experiences larger fluctuations and is considered to be riskier than PRMTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FWRLX	PRMTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.13%	3.86%	+4.27%
Volatility (6M) Calculated over the trailing 6-month period	13.82%	11.01%	+2.81%
Volatility (1Y) Calculated over the trailing 1-year period	16.20%	14.57%	+1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.26%	21.54%	-3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.38%	20.90%	-2.52%

FWRLX vs. PRMTX - Expense Ratio Comparison

Both FWRLX and PRMTX have an expense ratio of 0.77%.

Dividends

FWRLX vs. PRMTX - Dividend Comparison

FWRLX's dividend yield for the trailing twelve months is around 1.24%, less than PRMTX's 24.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FWRLX Fidelity Select Wireless Portfolio	1.24%	6.59%	9.06%	2.38%	9.26%	7.53%	6.95%	2.74%	16.03%	3.57%	6.57%	7.21%
PRMTX T. Rowe Price Communications & Technology Fund	24.54%	25.23%	14.78%	7.74%	17.50%	8.35%	5.29%	2.45%	1.28%	2.35%	2.24%	3.20%

Frequently Asked Questions

Can I hold both FWRLX and PRMTX in my portfolio?

FWRLX and PRMTX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FWRLX or PRMTX?

FWRLX has higher volatility (8.13%) compared to PRMTX (3.86%). In terms of maximum drawdown, FWRLX dropped -79.37% vs PRMTX's -66.30%.

Which has better risk-adjusted returns?

FWRLX currently has the higher Sharpe Ratio (2.74 vs 0.20), 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.