SKYE vs. FSDAX

Last updated Jun 26, 2026

SKYE (Skye Bioscience, Inc) is a stock, while FSDAX (Fidelity Select Defense & Aerospace Portfolio) is Aerospace & Defense fund actively managed by Fidelity. Over the past 10 years, SKYE returned -40.45%/yr vs 16.29%/yr for FSDAX. At a 0.07 correlation, their price movements are largely independent.

Performance

SKYE vs. FSDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Skye Bioscience, Inc (SKYE) 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, SKYE achieves a -5.51% return, which is significantly lower than FSDAX's 11.81% return. Over the past 10 years, SKYE has underperformed FSDAX with an annualized return of -40.45%, while FSDAX has yielded a comparatively higher 16.29% annualized return.

SKYE

• 1D: 4.33%
• 1M: -13.83%
• YTD: -5.51%
• 6M: -15.10%
• 1Y: -80.80%
• 3Y*: -51.21%
• 5Y*: -55.37%
• 10Y*: -40.45%

FSDAX

• 1D: 0.35%
• 1M: 4.68%
• YTD: 11.81%
• 6M: 8.94%
• 1Y: 30.90%
• 3Y*: 29.93%
• 5Y*: 17.07%
• 10Y*: 16.29%

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

SKYE vs. FSDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SKYE Skye Bioscience, Inc	-5.51%	-73.51%	4.04%	-32.84%	-68.85%	30.00%	-69.47%	-67.25%	163.16%	-49.67%
FSDAX Fidelity Select Defense & Aerospace Portfolio	11.81%	50.03%	15.83%	16.29%	6.83%	4.91%	-7.87%	33.75%	-6.83%	34.15%

Correlation

The correlation between SKYE and FSDAX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Apr 2, 2015	0.07

Return for Risk

SKYE vs. FSDAX — Risk / Return Rank

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

SKYE

SKYE Risk / Return Rank: 11
SKYE Sharpe Ratio Rank: 11
SKYE Sortino Ratio Rank: 11
SKYE Omega Ratio Rank: 10
SKYE Calmar Ratio Rank: 6
SKYE Martin Ratio Rank: 17

FSDAX

FSDAX Risk / Return Rank: 32
FSDAX Sharpe Ratio Rank: 34
FSDAX Sortino Ratio Rank: 35
FSDAX Omega Ratio Rank: 31
FSDAX Calmar Ratio Rank: 35
FSDAX Martin Ratio Rank: 28

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.

SKYE vs. FSDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Skye Bioscience, Inc (SKYE) 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.

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.

	SKYE	FSDAX	Difference
Sharpe ratio: Return per unit of total volatility	-0.76	1.41	-2.17
Sortino ratio: Return per unit of downside risk	-1.13	2.09	-3.22
Omega ratio: Gain probability vs. loss probability	0.85	1.25	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.92	1.93	-2.85
Martin ratio: Return relative to average drawdown	-1.18	5.50	-6.68

SKYE vs. FSDAX - Sharpe Ratio Comparison

The current SKYE Sharpe Ratio is -0.76, which is lower than the FSDAX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of SKYE 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.

Drawdowns

SKYE vs. FSDAX - Drawdown Comparison

The maximum SKYE drawdown since its inception was -99.96%, which is greater than FSDAX's maximum drawdown of -60.59%. Use the drawdown chart below to compare losses from any high point for SKYE and FSDAX.

Drawdown Indicators

	SKYE	FSDAX	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-60.59%	-39.37%
Max Drawdown (1Y) Largest decline over 1 year	-87.85%	-16.13%	-71.72%
Max Drawdown (3Y) Largest decline over 3 years	-96.79%	-16.13%	-80.66%
Max Drawdown (5Y) Largest decline over 5 years	-98.66%	-22.48%	-76.18%
Max Drawdown (10Y) Largest decline over 10 years	-99.83%	-47.08%	-52.75%
Current Drawdown Current decline from peak	-99.95%	-2.77%	-97.18%
Average Drawdown Average peak-to-trough decline	-94.94%	-10.44%	-84.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	68.27%	5.65%	+62.62%

Volatility

SKYE vs. FSDAX - Volatility Comparison

Skye Bioscience, Inc (SKYE) has a higher volatility of 19.34% compared to Fidelity Select Defense & Aerospace Portfolio (FSDAX) at 8.09%. This indicates that SKYE's price experiences larger fluctuations and is considered to be riskier than FSDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYE	FSDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.34%	8.09%	+11.25%
Volatility (6M) Calculated over the trailing 6-month period	61.29%	18.73%	+42.56%
Volatility (1Y) Calculated over the trailing 1-year period	106.85%	22.07%	+84.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	130.82%	20.62%	+110.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	136.69%	22.44%	+114.25%

Dividends

SKYE vs. FSDAX - Dividend Comparison

SKYE has not paid dividends to shareholders, while FSDAX's dividend yield for the trailing twelve months is around 2.04%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSDAX Fidelity Select Defense & Aerospace Portfolio	2.04%	4.48%	7.68%	6.47%	8.87%	8.38%	2.11%	2.62%	11.45%	3.57%	4.87%	6.30%
SKYE Skye Bioscience, Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SKYE and FSDAX in my portfolio?

SKYE and FSDAX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SKYE or FSDAX?

SKYE has higher volatility (19.34%) compared to FSDAX (8.09%). In terms of maximum drawdown, SKYE dropped -99.96% vs FSDAX's -60.59%.

Which has better risk-adjusted returns?

FSDAX currently has the higher Sharpe Ratio (1.41 vs -0.76), 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.