PHSZX vs. FSMEX

Last updated Jun 23, 2026

PHSZX (PGIM Jennison Health Sciences Fund) and FSMEX (Fidelity Select Medical Technology and Devices Portfolio) are both Health & Biotech Equities funds. Over the past 10 years, PHSZX returned 13.24%/yr vs 9.53%/yr for FSMEX. A 0.78 correlation means they provide meaningful diversification when combined. PHSZX charges 0.86%/yr vs 0.68%/yr for FSMEX.

Performance

PHSZX vs. FSMEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison Health Sciences Fund (PHSZX) and Fidelity Select Medical Technology and Devices Portfolio (FSMEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PHSZX achieves a -1.32% return, which is significantly higher than FSMEX's -16.18% return. Over the past 10 years, PHSZX has outperformed FSMEX with an annualized return of 13.24%, while FSMEX has yielded a comparatively lower 9.53% annualized return.

PHSZX

• 1D: 0.04%
• 1M: 0.39%
• YTD: -1.32%
• 6M: -2.49%
• 1Y: 26.74%
• 3Y*: 15.47%
• 5Y*: 8.46%
• 10Y*: 13.24%

FSMEX

• 1D: 1.34%
• 1M: 3.29%
• YTD: -16.18%
• 6M: -16.69%
• 1Y: -9.35%
• 3Y*: 0.52%
• 5Y*: -1.83%
• 10Y*: 9.53%

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

PHSZX vs. FSMEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PHSZX PGIM Jennison Health Sciences Fund	-1.32%	19.73%	23.04%	12.50%	-10.06%	6.09%	41.72%	18.62%	-3.77%	31.41%
FSMEX Fidelity Select Medical Technology and Devices Portfolio	-16.18%	8.13%	18.37%	0.62%	-24.84%	24.56%	30.18%	29.58%	15.98%	26.66%

Correlation

The correlation between PHSZX and FSMEX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jun 30, 1999	0.78

The correlation between PHSZX and FSMEX shifts across timeframes, from 0.60 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PHSZX vs. FSMEX — Risk / Return Rank

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

PHSZX

PHSZX Risk / Return Rank: 30
PHSZX Sharpe Ratio Rank: 30
PHSZX Sortino Ratio Rank: 30
PHSZX Omega Ratio Rank: 26
PHSZX Calmar Ratio Rank: 36
PHSZX Martin Ratio Rank: 29

FSMEX

FSMEX Risk / Return Rank: 1
FSMEX Sharpe Ratio Rank: 1
FSMEX Sortino Ratio Rank: 1
FSMEX Omega Ratio Rank: 1
FSMEX Calmar Ratio Rank: 1
FSMEX Martin Ratio Rank: 1

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.

PHSZX vs. FSMEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison Health Sciences Fund (PHSZX) 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.

	PHSZX	FSMEX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	-0.48	+1.94
Sortino ratio: Return per unit of downside risk	2.13	-0.57	+2.71
Omega ratio: Gain probability vs. loss probability	1.25	0.93	+0.31
Calmar ratio: Return relative to maximum drawdown	2.15	-0.35	+2.50
Martin ratio: Return relative to average drawdown	6.28	-0.78	+7.06

PHSZX vs. FSMEX - Sharpe Ratio Comparison

The current PHSZX Sharpe Ratio is 1.46, which is higher than the FSMEX Sharpe Ratio of -0.48. The chart below compares the historical Sharpe Ratios of PHSZX and FSMEX, 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

PHSZX vs. FSMEX - Drawdown Comparison

The maximum PHSZX drawdown since its inception was -42.77%, which is greater than FSMEX's maximum drawdown of -40.34%. Use the drawdown chart below to compare losses from any high point for PHSZX and FSMEX.

Drawdown Indicators

	PHSZX	FSMEX	Difference
Max Drawdown Largest peak-to-trough decline	-42.77%	-40.34%	-2.43%
Max Drawdown (1Y) Largest decline over 1 year	-12.24%	-26.28%	+14.04%
Max Drawdown (3Y) Largest decline over 3 years	-22.06%	-26.28%	+4.22%
Max Drawdown (5Y) Largest decline over 5 years	-29.36%	-40.34%	+10.98%
Max Drawdown (10Y) Largest decline over 10 years	-30.92%	-40.34%	+9.42%
Current Drawdown Current decline from peak	-4.26%	-21.51%	+17.25%
Average Drawdown Average peak-to-trough decline	-9.92%	-7.78%	-2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.18%	11.63%	-7.45%

Volatility

PHSZX vs. FSMEX - Volatility Comparison

The current volatility for PGIM Jennison Health Sciences Fund (PHSZX) is 6.70%, while Fidelity Select Medical Technology and Devices Portfolio (FSMEX) has a volatility of 7.33%. This indicates that PHSZX 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.

Volatility by Period

	PHSZX	FSMEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.70%	7.33%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	14.00%	15.24%	-1.24%
Volatility (1Y) Calculated over the trailing 1-year period	18.09%	18.75%	-0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.91%	21.10%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.16%	20.81%	+2.35%

PHSZX vs. FSMEX - Expense Ratio Comparison

PHSZX has a 0.86% expense ratio, which is higher than FSMEX's 0.68% expense ratio.

Dividends

PHSZX vs. FSMEX - Dividend Comparison

PHSZX's dividend yield for the trailing twelve months is around 11.08%, less than FSMEX's 21.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSMEX Fidelity Select Medical Technology and Devices Portfolio	21.66%	10.53%	17.04%	0.00%	1.80%	8.12%	6.65%	1.77%	7.47%	6.26%	5.84%	16.35%
PHSZX PGIM Jennison Health Sciences Fund	11.08%	10.93%	23.93%	4.26%	1.48%	29.82%	20.26%	2.92%	11.21%	4.43%	3.44%	13.45%

Frequently Asked Questions

Can I hold both PHSZX and FSMEX in my portfolio?

PHSZX and FSMEX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PHSZX or FSMEX?

FSMEX has higher volatility (7.33%) compared to PHSZX (6.70%). In terms of maximum drawdown, PHSZX dropped -42.77% vs FSMEX's -40.34%.

Which has better risk-adjusted returns?

PHSZX currently has the higher Sharpe Ratio (1.46 vs -0.48), 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.