FXH vs. FSPHX

Last updated Aug 4, 2026

FXH (First Trust Health Care AlphaDEX Fund) and FSPHX (Fidelity® Select Health Care Portfolio) are both Health & Biotech Equities funds. FXH is passively managed, while FSPHX is actively managed. Over the past 10 years, FXH returned 7.76%/yr vs 9.42%/yr for FSPHX. Their correlation of 0.88 means they have usually moved in the same direction. FXH charges 0.61%/yr vs 0.62%/yr for FSPHX.

Performance

FXH vs. FSPHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Health Care AlphaDEX Fund (FXH) and Fidelity® Select Health Care Portfolio (FSPHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXH achieves a 12.75% return, which is significantly higher than FSPHX's 8.38% return. Over the past 10 years, FXH has underperformed FSPHX with an annualized return of 7.76%, while FSPHX has yielded a comparatively higher 9.42% annualized return.

FXH

• 1D: 0.72%
• 1M: 1.42%
• 6M: 11.87%
• YTD: 12.75%
• 1Y: 30.98%
• 3Y*: 7.54%
• 5Y*: 1.03%
• 10Y*: 7.76%
• ALL TIME*: 10.27%

FSPHX

• 1D: -1.72%
• 1M: -2.94%
• 6M: 7.51%
• YTD: 8.38%
• 1Y: 21.50%
• 3Y*: 7.96%
• 5Y*: 2.82%
• 10Y*: 9.42%
• ALL TIME*: 14.32%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FSPHX Fidelity® Select Health Care Portfolio	$0.00	$0.00	$0.00
FXH First Trust Health Care AlphaDEX Fund	$8.23M	$7.53M	$5.49M

FXH vs. FSPHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXH First Trust Health Care AlphaDEX Fund	12.75%	10.16%	0.96%	-4.53%	-12.24%	15.20%	28.00%	22.26%	-1.33%	21.82%
FSPHX Fidelity® Select Health Care Portfolio	8.38%	9.36%	4.91%	4.13%	-12.82%	11.58%	24.57%	31.48%	7.15%	23.83%

Correlation

The correlation between FXH and FSPHX is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since May 10, 2007	0.88

The correlation between FXH and FSPHX shifts across timeframes, from 0.76 (1 year) to 0.89 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

FXH vs. FSPHX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FXH

FXH Risk / Return Rank: 74
FXH Sharpe Ratio Rank: 79
FXH Sortino Ratio Rank: 83
FXH Omega Ratio Rank: 75
FXH Calmar Ratio Rank: 69
FXH Martin Ratio Rank: 63

FSPHX

FSPHX Risk / Return Rank: 27
FSPHX Sharpe Ratio Rank: 32
FSPHX Sortino Ratio Rank: 31
FSPHX Omega Ratio Rank: 33
FSPHX Calmar Ratio Rank: 23
FSPHX Martin Ratio Rank: 16

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FXH vs. FSPHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Health Care AlphaDEX Fund (FXH) and Fidelity® Select Health Care Portfolio (FSPHX). 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.

	FXH	FSPHX	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.13	+0.79
Sortino ratio: Return per unit of downside risk	2.87	1.61	+1.26
Omega ratio: Gain probability vs. loss probability	1.33	1.21	+0.12
Calmar ratio: Return relative to maximum drawdown	2.55	1.15	+1.40
Martin ratio: Return relative to average drawdown	7.98	2.45	+5.53

FXH vs. FSPHX - Sharpe Ratio Comparison

The current FXH Sharpe Ratio is 1.92, which is higher than the FSPHX Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of FXH and FSPHX, 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

FXH vs. FSPHX - Drawdown Comparison

The maximum FXH drawdown since its inception was -43.70%, roughly equal to the maximum FSPHX drawdown of -44.45%. Use the drawdown chart below to compare losses from any high point for FXH and FSPHX.

Drawdown Indicators

	FXH	FSPHX	Difference
Max Drawdown Largest peak-to-trough decline	-43.70%	-44.45%	+0.75%
Max Drawdown (1Y) Largest decline over 1 year	-12.20%	-18.32%	+6.12%
Max Drawdown (3Y) Largest decline over 3 years	-17.53%	-18.32%	+0.79%
Max Drawdown (5Y) Largest decline over 5 years	-29.49%	-29.31%	-0.18%
Max Drawdown (10Y) Largest decline over 10 years	-30.61%	-29.31%	-1.30%
Current Drawdown Current decline from peak	-0.24%	-4.17%	+3.93%
Average Drawdown Average peak-to-trough decline	-9.41%	-9.81%	+0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.89%	8.62%	-4.73%

Volatility

FXH vs. FSPHX - Volatility Comparison

The current volatility for First Trust Health Care AlphaDEX Fund (FXH) is 4.86%, while Fidelity® Select Health Care Portfolio (FSPHX) has a volatility of 5.41%. This indicates that FXH experiences smaller price fluctuations and is considered to be less risky than FSPHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXH	FSPHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	5.41%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	12.08%	13.63%	-1.55%
Volatility (1Y) Calculated over the trailing 1-year period	16.25%	18.76%	-2.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.72%	18.59%	-1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.51%	19.06%	-0.55%

FXH vs. FSPHX - Expense Ratio Comparison

FXH has a 0.61% expense ratio, which is lower than FSPHX's 0.62% expense ratio.

Dividends

FXH vs. FSPHX - Dividend Comparison

FXH's dividend yield for the trailing twelve months is around 0.80%, less than FSPHX's 11.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSPHX Fidelity® Select Health Care Portfolio	11.24%	4.16%	10.77%	0.00%	2.13%	9.06%	11.29%	1.35%	9.02%	2.27%	0.18%	11.63%
FXH First Trust Health Care AlphaDEX Fund	0.80%	0.75%	0.41%	0.24%	0.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FXH and FSPHX in my portfolio?

FXH and FSPHX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXH or FSPHX?

FSPHX has higher volatility (5.41%) compared to FXH (4.86%). In terms of maximum drawdown, FXH dropped -43.70% vs FSPHX's -44.45%.

Which has better risk-adjusted returns?

FXH currently has the higher Sharpe Ratio (1.92 vs 1.13), 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.