SOXQ vs. FSELX

Last updated Jun 23, 2026

SOXQ (Invesco PHLX Semiconductor ETF) and FSELX (Fidelity Select Semiconductors Portfolio) are both Semiconductors funds. Over the past 5 years, SOXQ returned 36.75%/yr vs 46.62%/yr for FSELX. With a 0.97 correlation, they move nearly in lockstep. SOXQ charges 0.19%/yr vs 0.68%/yr for FSELX.

Performance

SOXQ vs. FSELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco PHLX Semiconductor ETF (SOXQ) and Fidelity Select Semiconductors Portfolio (FSELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOXQ achieves a 106.78% return, which is significantly higher than FSELX's 87.43% return.

SOXQ

• 1D: 2.14%
• 1M: 19.93%
• YTD: 106.78%
• 6M: 105.09%
• 1Y: 181.98%
• 3Y*: 61.94%
• 5Y*: 36.75%
• 10Y*: —

FSELX

• 1D: 5.45%
• 1M: 12.79%
• YTD: 87.43%
• 6M: 86.44%
• 1Y: 157.32%
• 3Y*: 66.55%
• 5Y*: 46.62%
• 10Y*: 39.47%

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

SOXQ vs. FSELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SOXQ Invesco PHLX Semiconductor ETF	106.78%	43.11%	20.16%	66.74%	-35.59%	25.19%
FSELX Fidelity Select Semiconductors Portfolio	87.43%	52.17%	49.68%	78.49%	-35.27%	37.70%

Correlation

The correlation between SOXQ and FSELX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 11, 2021	0.97

The correlation between SOXQ and FSELX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

SOXQ vs. FSELX — Risk / Return Rank

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

SOXQ

SOXQ Risk / Return Rank: 96
SOXQ Sharpe Ratio Rank: 98
SOXQ Sortino Ratio Rank: 94
SOXQ Omega Ratio Rank: 94
SOXQ Calmar Ratio Rank: 98
SOXQ Martin Ratio Rank: 97

FSELX

FSELX Risk / Return Rank: 96
FSELX Sharpe Ratio Rank: 99
FSELX Sortino Ratio Rank: 93
FSELX Omega Ratio Rank: 89
FSELX Calmar Ratio Rank: 99
FSELX Martin Ratio Rank: 99

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.

SOXQ vs. FSELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco PHLX Semiconductor ETF (SOXQ) and Fidelity Select Semiconductors Portfolio (FSELX). 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.

	SOXQ	FSELX	Difference
Sharpe ratio: Return per unit of total volatility	4.83	4.36	+0.48
Sortino ratio: Return per unit of downside risk	4.58	4.35	+0.23
Omega ratio: Gain probability vs. loss probability	1.65	1.60	+0.05
Calmar ratio: Return relative to maximum drawdown	11.75	10.88	+0.87
Martin ratio: Return relative to average drawdown	42.46	39.06	+3.40

SOXQ vs. FSELX - Sharpe Ratio Comparison

The current SOXQ Sharpe Ratio is 4.83, which is comparable to the FSELX Sharpe Ratio of 4.36. The chart below compares the historical Sharpe Ratios of SOXQ and FSELX, 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

SOXQ vs. FSELX - Drawdown Comparison

The maximum SOXQ drawdown since its inception was -46.01%, smaller than the maximum FSELX drawdown of -82.54%. Use the drawdown chart below to compare losses from any high point for SOXQ and FSELX.

Drawdown Indicators

	SOXQ	FSELX	Difference
Max Drawdown Largest peak-to-trough decline	-46.01%	-82.54%	+36.53%
Max Drawdown (1Y) Largest decline over 1 year	-15.59%	-14.38%	-1.21%
Max Drawdown (3Y) Largest decline over 3 years	-39.36%	-36.31%	-3.05%
Max Drawdown (5Y) Largest decline over 5 years	-46.01%	-46.37%	+0.36%
Max Drawdown (10Y) Largest decline over 10 years	—	-46.37%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-12.87%	-28.67%	+15.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.31%	4.00%	+0.31%

Volatility

SOXQ vs. FSELX - Volatility Comparison

Invesco PHLX Semiconductor ETF (SOXQ) has a higher volatility of 20.05% compared to Fidelity Select Semiconductors Portfolio (FSELX) at 18.25%. This indicates that SOXQ's price experiences larger fluctuations and is considered to be riskier than FSELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXQ	FSELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.05%	18.25%	+1.80%
Volatility (6M) Calculated over the trailing 6-month period	31.34%	29.19%	+2.15%
Volatility (1Y) Calculated over the trailing 1-year period	37.96%	35.91%	+2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.17%	39.55%	-2.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.08%	35.40%	+1.68%

SOXQ vs. FSELX - Expense Ratio Comparison

SOXQ has a 0.19% expense ratio, which is lower than FSELX's 0.68% expense ratio.

Dividends

SOXQ vs. FSELX - Dividend Comparison

SOXQ's dividend yield for the trailing twelve months is around 0.31%, less than FSELX's 8.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSELX Fidelity Select Semiconductors Portfolio	8.74%	11.11%	7.97%	7.20%	6.69%	6.99%	8.13%	3.36%	26.80%	14.44%	3.82%	15.22%
SOXQ Invesco PHLX Semiconductor ETF	0.31%	0.50%	0.68%	0.87%	1.36%	0.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SOXQ and FSELX in my portfolio?

With a correlation of 0.96, SOXQ and FSELX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SOXQ or FSELX?

SOXQ has higher volatility (20.05%) compared to FSELX (18.25%). In terms of maximum drawdown, SOXQ dropped -46.01% vs FSELX's -82.54%.

Which has better risk-adjusted returns?

SOXQ currently has the higher Sharpe Ratio (4.83 vs 4.36), 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.