PILL vs. FPHAX

Last updated Jun 26, 2026

PILL (Direxion Daily Pharmaceutical & Medical Bull 3X Shares) and FPHAX (Fidelity Select Pharmaceuticals Portfolio) are both funds - PILL is a Leveraged Equities fund tracking the Dynamic Pharmaceuticals Intellidex Index, while FPHAX is a Health & Biotech Equities fund managed by Fidelity. Over the past 5 years, PILL returned -7.05%/yr vs 12.66%/yr for FPHAX. A 0.74 correlation means they provide meaningful diversification when combined. PILL charges 0.98%/yr vs 0.75%/yr for FPHAX.

Performance

PILL vs. FPHAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) and Fidelity Select Pharmaceuticals Portfolio (FPHAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PILL achieves a 33.93% return, which is significantly higher than FPHAX's 11.03% return.

PILL

• 1D: -0.48%
• 1M: 33.79%
• YTD: 33.93%
• 6M: 24.05%
• 1Y: 209.10%
• 3Y*: 28.79%
• 5Y*: -7.05%
• 10Y*: —

FPHAX

• 1D: 0.63%
• 1M: 3.14%
• YTD: 11.03%
• 6M: 9.59%
• 1Y: 44.08%
• 3Y*: 18.40%
• 5Y*: 12.66%
• 10Y*: 12.55%

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

PILL vs. FPHAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PILL Direxion Daily Pharmaceutical & Medical Bull 3X Shares	33.93%	75.14%	-7.26%	-12.06%	-43.16%	-37.33%	0.28%	19.26%	-21.15%	16.39%
FPHAX Fidelity Select Pharmaceuticals Portfolio	11.03%	30.41%	9.39%	12.54%	0.94%	11.79%	11.16%	31.73%	5.41%	3.28%

Correlation

The correlation between PILL and FPHAX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Nov 15, 2017	0.74

The correlation between PILL and FPHAX has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.

Return for Risk

PILL vs. FPHAX — Risk / Return Rank

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

PILL

PILL Risk / Return Rank: 90
PILL Sharpe Ratio Rank: 95
PILL Sortino Ratio Rank: 87
PILL Omega Ratio Rank: 80
PILL Calmar Ratio Rank: 94
PILL Martin Ratio Rank: 93

FPHAX

FPHAX Risk / Return Rank: 76
FPHAX Sharpe Ratio Rank: 77
FPHAX Sortino Ratio Rank: 75
FPHAX Omega Ratio Rank: 65
FPHAX Calmar Ratio Rank: 91
FPHAX Martin Ratio Rank: 72

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.

PILL vs. FPHAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) and Fidelity Select Pharmaceuticals Portfolio (FPHAX). 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.

	PILL	FPHAX	Difference
Sharpe ratio: Return per unit of total volatility	3.37	2.17	+1.20
Sortino ratio: Return per unit of downside risk	3.40	3.03	+0.37
Omega ratio: Gain probability vs. loss probability	1.42	1.37	+0.05
Calmar ratio: Return relative to maximum drawdown	6.34	4.23	+2.11
Martin ratio: Return relative to average drawdown	20.92	11.55	+9.37

PILL vs. FPHAX - Sharpe Ratio Comparison

The current PILL Sharpe Ratio is 3.37, which is higher than the FPHAX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of PILL and FPHAX, 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

PILL vs. FPHAX - Drawdown Comparison

The maximum PILL drawdown since its inception was -88.76%, which is greater than FPHAX's maximum drawdown of -38.26%. Use the drawdown chart below to compare losses from any high point for PILL and FPHAX.

Drawdown Indicators

	PILL	FPHAX	Difference
Max Drawdown Largest peak-to-trough decline	-88.76%	-38.26%	-50.50%
Max Drawdown (1Y) Largest decline over 1 year	-33.21%	-10.33%	-22.88%
Max Drawdown (3Y) Largest decline over 3 years	-60.43%	-28.82%	-31.61%
Max Drawdown (5Y) Largest decline over 5 years	-83.26%	-28.82%	-54.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.82%	—
Current Drawdown Current decline from peak	-54.11%	-1.38%	-52.73%
Average Drawdown Average peak-to-trough decline	-58.54%	-9.16%	-49.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.04%	3.77%	+6.27%

Volatility

PILL vs. FPHAX - Volatility Comparison

Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) has a higher volatility of 18.74% compared to Fidelity Select Pharmaceuticals Portfolio (FPHAX) at 5.73%. This indicates that PILL's price experiences larger fluctuations and is considered to be riskier than FPHAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PILL	FPHAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.74%	5.73%	+13.01%
Volatility (6M) Calculated over the trailing 6-month period	48.11%	14.40%	+33.71%
Volatility (1Y) Calculated over the trailing 1-year period	62.66%	20.14%	+42.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.65%	18.10%	+42.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.79%	17.85%	+45.94%

PILL vs. FPHAX - Expense Ratio Comparison

PILL has a 0.98% expense ratio, which is higher than FPHAX's 0.75% expense ratio.

Dividends

PILL vs. FPHAX - Dividend Comparison

PILL's dividend yield for the trailing twelve months is around 0.41%, less than FPHAX's 5.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPHAX Fidelity Select Pharmaceuticals Portfolio	5.01%	5.68%	1.90%	8.08%	5.18%	11.09%	8.85%	8.33%	1.65%	1.62%	1.07%	12.63%
PILL Direxion Daily Pharmaceutical & Medical Bull 3X Shares	0.41%	0.69%	1.28%	1.83%	0.67%	0.00%	0.00%	0.38%	0.91%	0.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PILL and FPHAX in my portfolio?

PILL and FPHAX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PILL or FPHAX?

PILL has higher volatility (18.74%) compared to FPHAX (5.73%). In terms of maximum drawdown, PILL dropped -88.76% vs FPHAX's -38.26%.

Which has better risk-adjusted returns?

PILL currently has the higher Sharpe Ratio (3.37 vs 2.17), 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.