SMH vs. FSPCX
SMH (VanEck Semiconductor ETF) and FSPCX (Fidelity Select Insurance Portfolio) are both funds - SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while FSPCX is a Financials Equities fund managed by Fidelity. Over the past 10 years, SMH returned 37.49%/yr vs 12.26%/yr for FSPCX. At a 0.45 correlation, their price movements are largely independent. SMH charges 0.35%/yr vs 0.78%/yr for FSPCX.
Performance
SMH vs. FSPCX - Performance Comparison
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Returns By Period
In the year-to-date period, SMH achieves a 72.15% return, which is significantly higher than FSPCX's -0.79% return. Over the past 10 years, SMH has outperformed FSPCX with an annualized return of 37.49%, while FSPCX has yielded a comparatively lower 12.26% annualized return.
SMH
- 1D
- 1.72%
- 1M
- 7.20%
- YTD
- 72.15%
- 6M
- 75.62%
- 1Y
- 141.99%
- 3Y*
- 60.05%
- 5Y*
- 38.42%
- 10Y*
- 37.49%
FSPCX
- 1D
- 0.03%
- 1M
- 2.47%
- YTD
- -0.79%
- 6M
- -0.60%
- 1Y
- -0.58%
- 3Y*
- 14.50%
- 5Y*
- 11.71%
- 10Y*
- 12.26%
SMH vs. FSPCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 72.15% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
FSPCX Fidelity Select Insurance Portfolio | -0.79% | 3.45% | 28.44% | 12.98% | 7.75% | 29.26% | 0.00% | 30.06% | -11.99% | 15.50% |
Correlation
The correlation between SMH and FSPCX is -0.25, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2000 | 0.45 |
The correlation between SMH and FSPCX shifts across timeframes, from -0.25 (1 year) to 0.45 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMH vs. FSPCX — Risk / Return Rank
SMH
FSPCX
SMH vs. FSPCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and Fidelity Select Insurance Portfolio (FSPCX). 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.
| SMH | FSPCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.14 | ||
| Sortino ratioReturn per unit of downside risk | +4.17 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.01 | +0.59 |
| Calmar ratioReturn relative to maximum drawdown | 9.18 | -0.01 | +9.20 |
| Martin ratioReturn relative to average drawdown | 33.74 | -0.03 | +33.76 |
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Drawdowns
SMH vs. FSPCX - Drawdown Comparison
The maximum SMH drawdown since its inception was -84.96%, which is greater than FSPCX's maximum drawdown of -69.48%. Use the drawdown chart below to compare losses from any high point for SMH and FSPCX.
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Drawdown Indicators
| SMH | FSPCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | -69.48% | -15.48% |
Max Drawdown (1Y)Largest decline over 1 year | -14.93% | -9.98% | -4.95% |
Max Drawdown (3Y)Largest decline over 3 years | -35.74% | -11.69% | -24.05% |
Max Drawdown (5Y)Largest decline over 5 years | -45.30% | -16.65% | -28.65% |
Max Drawdown (10Y)Largest decline over 10 years | -45.30% | -43.68% | -1.62% |
Current DrawdownCurrent decline from peak | -2.81% | -5.50% | +2.69% |
Average DrawdownAverage peak-to-trough decline | -41.04% | -9.70% | -31.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.06% | 4.98% | -0.92% |
Volatility
SMH vs. FSPCX - Volatility Comparison
VanEck Semiconductor ETF (SMH) has a higher volatility of 16.25% compared to Fidelity Select Insurance Portfolio (FSPCX) at 5.74%. This indicates that SMH's price experiences larger fluctuations and is considered to be riskier than FSPCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMH | FSPCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.25% | 5.74% | +10.51% |
Volatility (6M)Calculated over the trailing 6-month period | 27.73% | 11.31% | +16.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.20% | 15.53% | +17.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.47% | 17.59% | +17.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.82% | 20.12% | +12.70% |
SMH vs. FSPCX - Expense Ratio Comparison
SMH has a 0.35% expense ratio, which is lower than FSPCX's 0.78% expense ratio.
Dividends
SMH vs. FSPCX - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.18%, less than FSPCX's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSPCX Fidelity Select Insurance Portfolio | 4.74% | 3.35% | 8.72% | 8.48% | 0.74% | 8.40% | 8.80% | 6.90% | 32.69% | 12.52% | 2.81% | 3.11% |
SMH VanEck Semiconductor ETF | 0.18% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
Frequently Asked Questions
SMH and FSPCX have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMH has higher volatility (16.25%) compared to FSPCX (5.74%). In terms of maximum drawdown, SMH dropped -84.96% vs FSPCX's -69.48%.
SMH currently has the higher Sharpe Ratio (4.13 vs -0.01), 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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