IDEF vs. FSDAX
IDEF (iShares Defense Industrials Active ETF) and FSDAX (Fidelity Select Defense & Aerospace Portfolio) are both Aerospace & Defense funds. Both are actively managed. Over the past year, IDEF returned 16.11% vs 29.99% for FSDAX. Their correlation of 0.83 suggests significant overlap in exposure. IDEF charges 0.55%/yr vs 0.63%/yr for FSDAX.
Performance
IDEF vs. FSDAX - Performance Comparison
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Returns By Period
In the year-to-date period, IDEF achieves a 2.45% return, which is significantly lower than FSDAX's 11.38% return.
IDEF
- 1D
- -0.60%
- 1M
- -3.83%
- YTD
- 2.45%
- 6M
- 0.08%
- 1Y
- 16.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FSDAX
- 1D
- -1.17%
- 1M
- 6.29%
- YTD
- 11.38%
- 6M
- 8.76%
- 1Y
- 29.99%
- 3Y*
- 29.77%
- 5Y*
- 17.38%
- 10Y*
- 16.24%
IDEF vs. FSDAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IDEF iShares Defense Industrials Active ETF | 2.45% | 21.50% |
FSDAX Fidelity Select Defense & Aerospace Portfolio | 11.38% | 22.17% |
Correlation
The correlation between IDEF and FSDAX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since May 21, 2025 | 0.83 |
The correlation between IDEF and FSDAX has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.
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Return for Risk
IDEF vs. FSDAX — Risk / Return Rank
IDEF
FSDAX
IDEF vs. FSDAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Defense Industrials Active ETF (IDEF) and Fidelity Select Defense & Aerospace Portfolio (FSDAX). 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.
| IDEF | FSDAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.25 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.98 | -0.89 |
| Martin ratioReturn relative to average drawdown | 2.57 | 5.66 | -3.09 |
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Drawdowns
IDEF vs. FSDAX - Drawdown Comparison
The maximum IDEF drawdown since its inception was -14.78%, smaller than the maximum FSDAX drawdown of -60.59%. Use the drawdown chart below to compare losses from any high point for IDEF and FSDAX.
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Drawdown Indicators
| IDEF | FSDAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.78% | -60.59% | +45.81% |
Max Drawdown (1Y)Largest decline over 1 year | -14.78% | -16.13% | +1.35% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.13% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.48% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.08% | — |
Current DrawdownCurrent decline from peak | -14.23% | -3.15% | -11.08% |
Average DrawdownAverage peak-to-trough decline | -4.30% | -10.44% | +6.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.28% | 5.64% | +0.64% |
Volatility
IDEF vs. FSDAX - Volatility Comparison
iShares Defense Industrials Active ETF (IDEF) has a higher volatility of 8.84% compared to Fidelity Select Defense & Aerospace Portfolio (FSDAX) at 8.10%. This indicates that IDEF's price experiences larger fluctuations and is considered to be riskier than FSDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IDEF | FSDAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.84% | 8.10% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 18.93% | 19.01% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.10% | 22.15% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.57% | 20.63% | +0.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.57% | 22.46% | -0.89% |
IDEF vs. FSDAX - Expense Ratio Comparison
IDEF has a 0.55% expense ratio, which is lower than FSDAX's 0.63% expense ratio.
Dividends
IDEF vs. FSDAX - Dividend Comparison
IDEF's dividend yield for the trailing twelve months is around 0.34%, less than FSDAX's 2.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSDAX Fidelity Select Defense & Aerospace Portfolio | 2.05% | 4.48% | 7.68% | 6.47% | 8.87% | 8.38% | 2.11% | 2.62% | 11.45% | 3.57% | 4.87% | 6.30% |
IDEF iShares Defense Industrials Active ETF | 0.34% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IDEF and FSDAX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IDEF has higher volatility (8.84%) compared to FSDAX (8.10%). In terms of maximum drawdown, IDEF dropped -14.78% vs FSDAX's -60.59%.
FSDAX currently has the higher Sharpe Ratio (1.45 vs 0.73), 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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