ITA vs. FSDAX

Last updated Jun 3, 2026

ITA (iShares U.S. Aerospace & Defense ETF) and FSDAX (Fidelity Select Defense & Aerospace Portfolio) are both funds - ITA is a Aerospace & Defense fund tracking the Dow Jones U.S. Select Aerospace & Defense Index, while FSDAX is a Industrials Equities fund managed by Fidelity. Over the past 10 years, ITA returned 15.00%/yr vs 15.55%/yr for FSDAX. With a 0.97 correlation, they move nearly in lockstep. ITA charges 0.38%/yr vs 0.74%/yr for FSDAX.

Performance

ITA vs. FSDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Aerospace & Defense ETF (ITA) and Fidelity Select Defense & Aerospace Portfolio (FSDAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ITA achieves a 6.42% return, which is significantly lower than FSDAX's 7.66% return. Both investments have delivered pretty close results over the past 10 years, with ITA having a 15.00% annualized return and FSDAX not far ahead at 15.55%.

ITA

• 1D: -0.69%
• 1M: 5.58%
• YTD: 6.42%
• 6M: 13.50%
• 1Y: 28.79%
• 3Y*: 27.53%
• 5Y*: 16.48%
• 10Y*: 15.00%

FSDAX

• 1D: -2.01%
• 1M: 6.52%
• YTD: 7.66%
• 6M: 15.06%
• 1Y: 28.03%
• 3Y*: 28.82%
• 5Y*: 16.32%
• 10Y*: 15.55%

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

ITA vs. FSDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ITA iShares U.S. Aerospace & Defense ETF	6.42%	48.64%	15.81%	14.33%	9.96%	9.39%	-13.57%	30.51%	-7.22%	35.24%
FSDAX Fidelity Select Defense & Aerospace Portfolio	7.66%	50.03%	15.83%	16.29%	6.83%	4.91%	-7.87%	33.75%	-6.83%	34.15%

Correlation

The correlation between ITA and FSDAX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since May 8, 2006	0.97

The correlation between ITA and FSDAX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

ITA vs. FSDAX — Risk / Return Rank

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

ITA

ITA Risk / Return Rank: 37
ITA Sharpe Ratio Rank: 39
ITA Sortino Ratio Rank: 39
ITA Omega Ratio Rank: 36
ITA Calmar Ratio Rank: 37
ITA Martin Ratio Rank: 33

FSDAX

FSDAX Risk / Return Rank: 21
FSDAX Sharpe Ratio Rank: 22
FSDAX Sortino Ratio Rank: 21
FSDAX Omega Ratio Rank: 20
FSDAX Calmar Ratio Rank: 23
FSDAX Martin Ratio Rank: 19

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.

ITA vs. FSDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Aerospace & Defense ETF (ITA) 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.

	ITA	FSDAX	Difference
Sharpe ratio Return per unit of total volatility	1.39	1.38	+0.01
Sortino ratio Return per unit of downside risk	2.01	2.00	0.00
Omega ratio Gain probability vs. loss probability	1.24	1.24	0.00
Calmar ratio Return relative to maximum drawdown	1.87	1.83	+0.03
Martin ratio Return relative to average drawdown	5.10	5.37	-0.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITA vs. FSDAX - Sharpe Ratio Comparison

The current ITA Sharpe Ratio is 1.39, which is comparable to the FSDAX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of ITA and FSDAX, 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

	ITA	FSDAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	1.38	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.80	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.70	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.64	-0.13

Drawdowns

ITA vs. FSDAX - Drawdown Comparison

The maximum ITA drawdown since its inception was -59.72%, roughly equal to the maximum FSDAX drawdown of -60.59%. Use the drawdown chart below to compare losses from any high point for ITA and FSDAX.

Drawdown Indicators

	ITA	FSDAX	Difference
Max Drawdown Largest peak-to-trough decline	-59.72%	-60.59%	+0.87%
Max Drawdown (1Y) Largest decline over 1 year	-15.82%	-16.13%	+0.31%
Max Drawdown (3Y) Largest decline over 3 years	-15.82%	-16.13%	+0.31%
Max Drawdown (5Y) Largest decline over 5 years	-18.72%	-22.84%	+4.12%
Max Drawdown (10Y) Largest decline over 10 years	-51.00%	-47.08%	-3.92%
Current Drawdown Current decline from peak	-8.82%	-6.38%	-2.44%
Average Drawdown Average peak-to-trough decline	-9.46%	-10.45%	+0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.79%	5.50%	+0.29%

Volatility

ITA vs. FSDAX - Volatility Comparison

iShares U.S. Aerospace & Defense ETF (ITA) and Fidelity Select Defense & Aerospace Portfolio (FSDAX) have volatilities of 7.15% and 7.44%, 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.

Volatility by Period

	ITA	FSDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.15%	7.44%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	17.66%	18.23%	-0.57%
Volatility (1Y) Calculated over the trailing 1-year period	20.80%	21.10%	-0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.01%	20.42%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.14%	22.35%	+0.79%

ITA vs. FSDAX - Expense Ratio Comparison

ITA has a 0.38% expense ratio, which is lower than FSDAX's 0.74% expense ratio.

Dividends

ITA vs. FSDAX - Dividend Comparison

ITA's dividend yield for the trailing twelve months is around 0.47%, less than FSDAX's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSDAX Fidelity Select Defense & Aerospace Portfolio	2.12%	4.48%	7.68%	6.47%	8.87%	8.38%	2.11%	2.62%	11.45%	3.57%	4.87%	6.30%
ITA iShares U.S. Aerospace & Defense ETF	0.47%	0.55%	0.85%	0.93%	0.95%	0.82%	1.07%	1.54%	1.13%	0.91%	1.07%	1.04%

Frequently Asked Questions

Can I hold both ITA and FSDAX in my portfolio?

With a correlation of 0.98, ITA and FSDAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ITA or FSDAX?

FSDAX has higher volatility (7.44%) compared to ITA (7.15%). In terms of maximum drawdown, ITA dropped -59.72% vs FSDAX's -60.59%.

Which has better risk-adjusted returns?

ITA currently has the higher Sharpe Ratio (1.39 vs 1.38), 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.