OCMAX vs. FSELX

Last updated Jun 23, 2026

OCMAX (OCM Gold Atlas) and FSELX (Fidelity Select Semiconductors Portfolio) are both mutual funds - OCMAX is a Gold fund actively managed by OCM, while FSELX is a Semiconductors fund managed by Fidelity. Over the past 10 years, OCMAX returned 17.16%/yr vs 39.47%/yr for FSELX. At a 0.18 correlation, their price movements are largely independent. OCMAX charges 1.88%/yr vs 0.68%/yr for FSELX.

Performance

OCMAX vs. FSELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OCM Gold Atlas (OCMAX) and Fidelity Select Semiconductors Portfolio (FSELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OCMAX achieves a 1.91% return, which is significantly lower than FSELX's 87.43% return. Over the past 10 years, OCMAX has underperformed FSELX with an annualized return of 17.16%, while FSELX has yielded a comparatively higher 39.47% annualized return.

OCMAX

• 1D: -2.66%
• 1M: -1.98%
• YTD: 1.91%
• 6M: -1.21%
• 1Y: 65.14%
• 3Y*: 50.45%
• 5Y*: 22.14%
• 10Y*: 17.16%

FSELX

• 1D: 5.45%
• 1M: 12.79%
• YTD: 87.43%
• 6M: 86.44%
• 1Y: 157.32%
• 3Y*: 66.55%
• 5Y*: 46.62%
• 10Y*: 39.47%

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

OCMAX vs. FSELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OCMAX OCM Gold Atlas	1.91%	168.37%	23.87%	4.82%	-17.28%	-9.16%	45.45%	58.42%	-13.25%	10.55%
FSELX Fidelity Select Semiconductors Portfolio	87.43%	52.17%	49.68%	78.49%	-35.27%	59.16%	44.33%	64.50%	-12.01%	34.51%

Correlation

The correlation between OCMAX and FSELX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Mar 31, 2010	0.18

The correlation between OCMAX and FSELX shifts across timeframes, from 0.16 (10 years) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

OCMAX vs. FSELX — Risk / Return Rank

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

OCMAX

OCMAX Risk / Return Rank: 30
OCMAX Sharpe Ratio Rank: 33
OCMAX Sortino Ratio Rank: 25
OCMAX Omega Ratio Rank: 31
OCMAX Calmar Ratio Rank: 32
OCMAX Martin Ratio Rank: 26

FSELX

FSELX Risk / Return Rank: 96
FSELX Sharpe Ratio Rank: 99
FSELX Sortino Ratio Rank: 93
FSELX Omega Ratio Rank: 89
FSELX Calmar Ratio Rank: 99
FSELX Martin Ratio Rank: 99

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.

OCMAX vs. FSELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OCM Gold Atlas (OCMAX) and Fidelity Select Semiconductors Portfolio (FSELX). 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.

	OCMAX	FSELX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	4.36	-2.81
Sortino ratio: Return per unit of downside risk	1.94	4.35	-2.41
Omega ratio: Gain probability vs. loss probability	1.27	1.60	-0.33
Calmar ratio: Return relative to maximum drawdown	2.02	10.88	-8.86
Martin ratio: Return relative to average drawdown	5.76	39.06	-33.29

OCMAX vs. FSELX - Sharpe Ratio Comparison

The current OCMAX Sharpe Ratio is 1.55, which is lower than the FSELX Sharpe Ratio of 4.36. The chart below compares the historical Sharpe Ratios of OCMAX and FSELX, 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

OCMAX vs. FSELX - Drawdown Comparison

The maximum OCMAX drawdown since its inception was -76.26%, smaller than the maximum FSELX drawdown of -82.54%. Use the drawdown chart below to compare losses from any high point for OCMAX and FSELX.

Drawdown Indicators

	OCMAX	FSELX	Difference
Max Drawdown Largest peak-to-trough decline	-76.26%	-82.54%	+6.28%
Max Drawdown (1Y) Largest decline over 1 year	-31.28%	-14.38%	-16.90%
Max Drawdown (3Y) Largest decline over 3 years	-31.28%	-36.31%	+5.03%
Max Drawdown (5Y) Largest decline over 5 years	-44.05%	-46.37%	+2.32%
Max Drawdown (10Y) Largest decline over 10 years	-45.14%	-46.37%	+1.23%
Current Drawdown Current decline from peak	-22.36%	0.00%	-22.36%
Average Drawdown Average peak-to-trough decline	-36.10%	-28.67%	-7.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.93%	4.00%	+6.93%

Volatility

OCMAX vs. FSELX - Volatility Comparison

The current volatility for OCM Gold Atlas (OCMAX) is 16.54%, while Fidelity Select Semiconductors Portfolio (FSELX) has a volatility of 18.25%. This indicates that OCMAX experiences smaller price fluctuations and is considered to be less risky than FSELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OCMAX	FSELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.54%	18.25%	-1.71%
Volatility (6M) Calculated over the trailing 6-month period	34.48%	29.19%	+5.29%
Volatility (1Y) Calculated over the trailing 1-year period	40.83%	35.91%	+4.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.75%	39.55%	-4.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.95%	35.40%	-1.45%

OCMAX vs. FSELX - Expense Ratio Comparison

OCMAX has a 1.88% expense ratio, which is higher than FSELX's 0.68% expense ratio.

Dividends

OCMAX vs. FSELX - Dividend Comparison

OCMAX's dividend yield for the trailing twelve months is around 5.80%, less than FSELX's 8.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSELX Fidelity Select Semiconductors Portfolio	8.74%	11.11%	7.97%	7.20%	6.69%	6.99%	8.13%	3.36%	26.80%	14.44%	3.82%	15.22%
OCMAX OCM Gold Atlas	5.80%	5.91%	2.97%	0.00%	0.04%	0.95%	1.44%	5.66%	24.55%	6.72%	18.48%	0.05%

Frequently Asked Questions

Can I hold both OCMAX and FSELX in my portfolio?

OCMAX and FSELX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OCMAX or FSELX?

FSELX has higher volatility (18.25%) compared to OCMAX (16.54%). In terms of maximum drawdown, OCMAX dropped -76.26% vs FSELX's -82.54%.

Which has better risk-adjusted returns?

FSELX currently has the higher Sharpe Ratio (4.36 vs 1.55), 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.