PHSTX vs. FSMEX
PHSTX (Putnam Global Health Care Fund) and FSMEX (Fidelity Select Medical Technology and Devices Portfolio) are both Health & Biotech Equities funds. Over the past 10 years, PHSTX returned 9.06%/yr vs 9.72%/yr for FSMEX. Their correlation of 0.82 means they have usually moved in the same direction. PHSTX charges 1.05%/yr vs 0.62%/yr for FSMEX.
Performance
PHSTX vs. FSMEX - Performance Comparison
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Returns By Period
In the year-to-date period, PHSTX achieves a 4.28% return, which is significantly higher than FSMEX's -6.56% return. Over the past 10 years, PHSTX has underperformed FSMEX with an annualized return of 9.06%, while FSMEX has yielded a comparatively higher 9.72% annualized return.
PHSTX
- 1D
- -1.29%
- 1M
- -2.86%
- 6M
- 3.48%
- YTD
- 4.28%
- 1Y
- 24.55%
- 3Y*
- 9.10%
- 5Y*
- 6.51%
- 10Y*
- 9.06%
- ALL TIME*
- 10.96%
FSMEX
- 1D
- 0.55%
- 1M
- 1.24%
- 6M
- -3.83%
- YTD
- -6.56%
- 1Y
- 1.44%
- 3Y*
- 4.41%
- 5Y*
- -1.42%
- 10Y*
- 9.72%
- ALL TIME*
- 12.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PHSTX vs. FSMEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHSTX Putnam Global Health Care Fund | 4.28% | 15.20% | 1.35% | 9.11% | -4.88% | 19.60% | 15.94% | 30.26% | -0.76% | 15.30% |
FSMEX Fidelity Select Medical Technology and Devices Portfolio | -6.56% | 8.13% | 18.37% | 0.62% | -24.84% | 24.56% | 30.18% | 29.58% | 15.98% | 26.66% |
Correlation
The correlation between PHSTX and FSMEX is 0.59, 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. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.71 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 1998 | 0.82 |
Over the past year, the correlation between PHSTX and FSMEX has dropped to 0.59 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.
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Return for Risk
PHSTX vs. FSMEX — Risk / Return Rank
PHSTX
FSMEX
PHSTX vs. FSMEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Global Health Care Fund (PHSTX) and Fidelity Select Medical Technology and Devices Portfolio (FSMEX). 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.
| PHSTX | FSMEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.64 | ||
| Sortino ratioReturn per unit of downside risk | +2.39 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.00 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | -0.07 | +2.49 |
| Martin ratioReturn relative to average drawdown | 5.91 | -0.14 | +6.05 |
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Drawdowns
PHSTX vs. FSMEX - Drawdown Comparison
The maximum PHSTX drawdown since its inception was -45.51%, which is greater than FSMEX's maximum drawdown of -40.34%. Use the drawdown chart below to compare losses from any high point for PHSTX and FSMEX.
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Drawdown Indicators
| PHSTX | FSMEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.51% | -40.34% | -5.17% |
Max Drawdown (1Y)Largest decline over 1 year | -9.71% | -26.28% | +16.57% |
Max Drawdown (3Y)Largest decline over 3 years | -20.71% | -26.28% | +5.57% |
Max Drawdown (5Y)Largest decline over 5 years | -20.71% | -40.34% | +19.63% |
Max Drawdown (10Y)Largest decline over 10 years | -25.51% | -40.34% | +14.83% |
Current DrawdownCurrent decline from peak | -3.05% | -12.50% | +9.45% |
Average DrawdownAverage peak-to-trough decline | -9.90% | -7.81% | -2.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.98% | 12.47% | -8.49% |
Volatility
PHSTX vs. FSMEX - Volatility Comparison
The current volatility for Putnam Global Health Care Fund (PHSTX) is 5.60%, while Fidelity Select Medical Technology and Devices Portfolio (FSMEX) has a volatility of 6.57%. This indicates that PHSTX experiences smaller price fluctuations and is considered to be less risky than FSMEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHSTX | FSMEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 6.57% | -0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 11.63% | 16.61% | -4.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.20% | 19.99% | -4.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.74% | 21.36% | -6.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.81% | 20.89% | -5.08% |
PHSTX vs. FSMEX - Expense Ratio Comparison
PHSTX has a 1.05% expense ratio, which is higher than FSMEX's 0.62% expense ratio.
Dividends
PHSTX vs. FSMEX - Dividend Comparison
PHSTX's dividend yield for the trailing twelve months is around 1.71%, less than FSMEX's 19.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSMEX Fidelity Select Medical Technology and Devices Portfolio | 19.43% | 10.53% | 17.04% | 0.00% | 1.80% | 8.12% | 6.65% | 1.77% | 7.47% | 6.26% | 5.84% | 16.35% |
PHSTX Putnam Global Health Care Fund | 1.71% | 1.79% | 4.92% | 5.62% | 7.82% | 11.98% | 9.58% | 5.72% | 6.82% | 17.31% | 10.65% | 13.06% |
Frequently Asked Questions
PHSTX and FSMEX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSMEX has higher volatility (6.57%) compared to PHSTX (5.60%). In terms of maximum drawdown, PHSTX dropped -45.51% vs FSMEX's -40.34%.
PHSTX currently has the higher Sharpe Ratio (1.55 vs -0.09), 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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