VTCAX vs. FELAX

Last updated Aug 2, 2026

VTCAX (Vanguard Communication Services Index Fund Admiral Shares) and FELAX (Fidelity Advisor Semiconductors Fund Class A) are both mutual funds - VTCAX is a Technology Equities fund managed by Vanguard, while FELAX is a Semiconductors fund actively managed by Fidelity. Over the past 10 years, VTCAX returned 7.65%/yr vs 33.19%/yr for FELAX. Their 0.62 correlation means they have sometimes moved together and sometimes differently. VTCAX charges 0.10%/yr vs 0.94%/yr for FELAX.

Performance

VTCAX vs. FELAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Communication Services Index Fund Admiral Shares (VTCAX) and Fidelity Advisor Semiconductors Fund Class A (FELAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTCAX achieves a -6.72% return, which is significantly lower than FELAX's 47.97% return. Over the past 10 years, VTCAX has underperformed FELAX with an annualized return of 7.65%, while FELAX has yielded a comparatively higher 33.19% annualized return.

VTCAX

• 1D: -2.70%
• 1M: -4.25%
• 6M: -9.43%
• YTD: -6.72%
• 1Y: 5.85%
• 3Y*: 18.15%
• 5Y*: 5.59%
• 10Y*: 7.65%
• ALL TIME*: 8.53%

FELAX

• 1D: 7.41%
• 1M: -8.94%
• 6M: 32.48%
• YTD: 47.97%
• 1Y: 85.05%
• 3Y*: 46.27%
• 5Y*: 35.22%
• 10Y*: 33.19%
• ALL TIME*: 14.60%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FELAX Fidelity Advisor Semiconductors Fund Class A	$0.00	$0.00	$0.00
VTCAX Vanguard Communication Services Index Fund Admiral Shares	$0.00	$0.00	$0.00

VTCAX vs. FELAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTCAX Vanguard Communication Services Index Fund Admiral Shares	-6.72%	26.28%	33.10%	44.73%	-38.78%	14.09%	28.95%	28.03%	-16.51%	-5.57%
FELAX Fidelity Advisor Semiconductors Fund Class A	47.97%	44.88%	43.74%	75.08%	-35.07%	57.50%	43.57%	63.76%	-12.76%	34.12%

Correlation

The correlation between VTCAX and FELAX is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.29
Correlation (3Y) Balances recent behavior with more history.	0.49
Correlation (5Y) Shows whether the relationship held over a longer period.	0.61
Correlation (10Y) Provides a long-term view across more market conditions.	0.59
Correlation (All Time) Calculated using the full available price history since Sep 29, 2004	0.62

Over the past year, the correlation between VTCAX and FELAX has dropped to 0.29 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

VTCAX vs. FELAX - Sectors Allocation Comparison

Sectors	VTCAX	FELAX
Communication Services	95.8%	-
Industrials	2.4%	-
Technology	1.5%	100.0%
Consumer Cyclical	0.2%	-
Real Estate	0.1%	-
Healthcare	0.0%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Utilities	-	-

Return for Risk

VTCAX vs. FELAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VTCAX

VTCAX Risk / Return Rank: 10
VTCAX Sharpe Ratio Rank: 10
VTCAX Sortino Ratio Rank: 10
VTCAX Omega Ratio Rank: 10
VTCAX Calmar Ratio Rank: 10
VTCAX Martin Ratio Rank: 11

FELAX

FELAX Risk / Return Rank: 81
FELAX Sharpe Ratio Rank: 83
FELAX Sortino Ratio Rank: 73
FELAX Omega Ratio Rank: 74
FELAX Calmar Ratio Rank: 87
FELAX Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VTCAX vs. FELAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Communication Services Index Fund Admiral Shares (VTCAX) and Fidelity Advisor Semiconductors Fund Class A (FELAX). 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.

	VTCAX	FELAX	Difference
Sharpe ratio: Return per unit of total volatility	0.35	1.97	-1.63
Sortino ratio: Return per unit of downside risk	0.61	2.40	-1.80
Omega ratio: Gain probability vs. loss probability	1.07	1.31	-0.24
Calmar ratio: Return relative to maximum drawdown	0.44	2.98	-2.55
Martin ratio: Return relative to average drawdown	1.33	12.61	-11.28

VTCAX vs. FELAX - Sharpe Ratio Comparison

The current VTCAX Sharpe Ratio is 0.35, which is lower than the FELAX Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of VTCAX and FELAX, 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

VTCAX vs. FELAX - Drawdown Comparison

The maximum VTCAX drawdown since its inception was -57.11%, smaller than the maximum FELAX drawdown of -71.33%. Use the drawdown chart below to compare losses from any high point for VTCAX and FELAX.

Drawdown Indicators

	VTCAX	FELAX	Difference
Max Drawdown Largest peak-to-trough decline	-57.11%	-71.33%	+14.22%
Max Drawdown (1Y) Largest decline over 1 year	-13.56%	-26.90%	+13.34%
Max Drawdown (3Y) Largest decline over 3 years	-21.19%	-36.43%	+15.24%
Max Drawdown (5Y) Largest decline over 5 years	-46.58%	-46.15%	-0.43%
Max Drawdown (10Y) Largest decline over 10 years	-46.58%	-46.15%	-0.43%
Current Drawdown Current decline from peak	-9.89%	-21.49%	+11.60%
Average Drawdown Average peak-to-trough decline	-11.85%	-21.81%	+9.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.44%	6.36%	-1.92%

Volatility

VTCAX vs. FELAX - Volatility Comparison

The current volatility for Vanguard Communication Services Index Fund Admiral Shares (VTCAX) is 7.04%, while Fidelity Advisor Semiconductors Fund Class A (FELAX) has a volatility of 16.84%. This indicates that VTCAX experiences smaller price fluctuations and is considered to be less risky than FELAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTCAX	FELAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.04%	16.84%	-9.80%
Volatility (6M) Calculated over the trailing 6-month period	13.58%	34.45%	-20.87%
Volatility (1Y) Calculated over the trailing 1-year period	17.02%	40.70%	-23.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.48%	39.85%	-18.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.11%	35.48%	-14.37%

VTCAX vs. FELAX - Expense Ratio Comparison

VTCAX has a 0.10% expense ratio, which is lower than FELAX's 0.94% expense ratio.

Dividends

VTCAX vs. FELAX - Dividend Comparison

VTCAX's dividend yield for the trailing twelve months is around 1.09%, less than FELAX's 4.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FELAX Fidelity Advisor Semiconductors Fund Class A	4.71%	6.96%	7.02%	3.40%	3.32%	4.34%	4.51%	1.00%	20.15%	9.67%	0.36%	10.71%
VTCAX Vanguard Communication Services Index Fund Admiral Shares	1.09%	0.95%	1.06%	1.04%	0.88%	1.20%	0.73%	0.89%	2.77%	3.84%	2.68%	3.55%

Frequently Asked Questions

Can I hold both VTCAX and FELAX in my portfolio?

VTCAX and FELAX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTCAX or FELAX?

FELAX has higher volatility (16.84%) compared to VTCAX (7.04%). In terms of maximum drawdown, VTCAX dropped -57.11% vs FELAX's -71.33%.

Which has better risk-adjusted returns?

FELAX currently has the higher Sharpe Ratio (1.97 vs 0.35), 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.