IAI vs. FSPCX
IAI (iShares U.S. Broker-Dealers & Securities Exchanges ETF) and FSPCX (Fidelity Select Insurance Portfolio) are both Financials Equities funds. Over the past 10 years, IAI returned 19.37%/yr vs 12.26%/yr for FSPCX. A 0.76 correlation means they provide meaningful diversification when combined. IAI charges 0.41%/yr vs 0.78%/yr for FSPCX.
Performance
IAI vs. FSPCX - Performance Comparison
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Returns By Period
In the year-to-date period, IAI achieves a 3.17% return, which is significantly higher than FSPCX's -0.79% return. Over the past 10 years, IAI has outperformed FSPCX with an annualized return of 19.37%, while FSPCX has yielded a comparatively lower 12.26% annualized return.
IAI
- 1D
- 1.83%
- 1M
- 3.71%
- YTD
- 3.17%
- 6M
- 2.78%
- 1Y
- 21.00%
- 3Y*
- 28.06%
- 5Y*
- 14.44%
- 10Y*
- 19.37%
FSPCX
- 1D
- 0.03%
- 1M
- 2.47%
- YTD
- -0.79%
- 6M
- -0.60%
- 1Y
- -0.58%
- 3Y*
- 14.50%
- 5Y*
- 11.71%
- 10Y*
- 12.26%
IAI vs. FSPCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF | 3.17% | 25.80% | 34.37% | 15.27% | -10.87% | 40.48% | 18.61% | 24.26% | -9.47% | 28.86% |
FSPCX Fidelity Select Insurance Portfolio | -0.79% | 3.45% | 28.44% | 12.98% | 7.75% | 29.26% | 0.00% | 30.06% | -11.99% | 15.50% |
Correlation
The correlation between IAI and FSPCX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since May 5, 2006 | 0.76 |
Over the past year, the correlation between IAI and FSPCX has dropped to 0.23 - well below their long-term average of 0.76, suggesting their price drivers have been diverging.
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Return for Risk
IAI vs. FSPCX — Risk / Return Rank
IAI
FSPCX
IAI vs. FSPCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and Fidelity Select Insurance Portfolio (FSPCX). 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.
| IAI | FSPCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.00 | ||
| Sortino ratioReturn per unit of downside risk | +1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.01 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | -0.01 | +1.18 |
| Martin ratioReturn relative to average drawdown | 3.33 | -0.03 | +3.35 |
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Drawdowns
IAI vs. FSPCX - Drawdown Comparison
The maximum IAI drawdown since its inception was -75.46%, which is greater than FSPCX's maximum drawdown of -69.48%. Use the drawdown chart below to compare losses from any high point for IAI and FSPCX.
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Drawdown Indicators
| IAI | FSPCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.46% | -69.48% | -5.98% |
Max Drawdown (1Y)Largest decline over 1 year | -16.52% | -9.98% | -6.54% |
Max Drawdown (3Y)Largest decline over 3 years | -23.14% | -11.69% | -11.45% |
Max Drawdown (5Y)Largest decline over 5 years | -28.84% | -16.65% | -12.19% |
Max Drawdown (10Y)Largest decline over 10 years | -40.38% | -43.68% | +3.30% |
Current DrawdownCurrent decline from peak | -2.81% | -5.50% | +2.69% |
Average DrawdownAverage peak-to-trough decline | -22.63% | -9.70% | -12.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.80% | 4.98% | +0.82% |
Volatility
IAI vs. FSPCX - Volatility Comparison
iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and Fidelity Select Insurance Portfolio (FSPCX) have volatilities of 5.98% and 5.74%, 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.
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Volatility by Period
| IAI | FSPCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.98% | 5.74% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 15.34% | 11.31% | +4.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.44% | 15.53% | +3.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.48% | 17.59% | +3.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.85% | 20.12% | +2.73% |
IAI vs. FSPCX - Expense Ratio Comparison
IAI has a 0.41% expense ratio, which is lower than FSPCX's 0.78% expense ratio.
Dividends
IAI vs. FSPCX - Dividend Comparison
IAI's dividend yield for the trailing twelve months is around 1.05%, less than FSPCX's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSPCX Fidelity Select Insurance Portfolio | 4.74% | 3.35% | 8.72% | 8.48% | 0.74% | 8.40% | 8.80% | 6.90% | 32.69% | 12.52% | 2.81% | 3.11% |
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF | 1.05% | 0.95% | 1.05% | 1.80% | 2.14% | 1.31% | 1.55% | 1.52% | 1.58% | 1.37% | 1.49% | 1.31% |
Frequently Asked Questions
IAI and FSPCX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAI has higher volatility (5.98%) compared to FSPCX (5.74%). In terms of maximum drawdown, IAI dropped -75.46% vs FSPCX's -69.48%.
IAI currently has the higher Sharpe Ratio (1.00 vs -0.01), 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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