XHB vs. FSHOX

Last updated Jun 4, 2026

XHB (SPDR S&P Homebuilders ETF) and FSHOX (Fidelity Select Construction & Housing Portfolio) are both funds - XHB is a Building & Construction fund tracking the S&P Homebuilders Select Industry Index, while FSHOX is a Consumer Discretionary Equities fund managed by Fidelity. Over the past 10 years, XHB returned 12.71%/yr vs 14.56%/yr for FSHOX. Their correlation of 0.91 suggests significant overlap in exposure. XHB charges 0.35%/yr vs 0.76%/yr for FSHOX.

Performance

XHB vs. FSHOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Homebuilders ETF (XHB) and Fidelity Select Construction & Housing Portfolio (FSHOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XHB achieves a 1.06% return, which is significantly lower than FSHOX's 4.84% return. Over the past 10 years, XHB has underperformed FSHOX with an annualized return of 12.71%, while FSHOX has yielded a comparatively higher 14.56% annualized return.

XHB

• 1D: -0.41%
• 1M: 2.46%
• YTD: 1.06%
• 6M: -4.89%
• 1Y: 10.40%
• 3Y*: 13.48%
• 5Y*: 8.00%
• 10Y*: 12.71%

FSHOX

• 1D: 1.15%
• 1M: -1.38%
• YTD: 4.84%
• 6M: 2.10%
• 1Y: 10.90%
• 3Y*: 15.03%
• 5Y*: 10.02%
• 10Y*: 14.56%

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

XHB vs. FSHOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XHB SPDR S&P Homebuilders ETF	1.06%	-0.69%	9.87%	60.10%	-28.93%	49.70%	27.97%	41.30%	-25.73%	31.80%
FSHOX Fidelity Select Construction & Housing Portfolio	4.84%	5.24%	15.28%	30.85%	-22.76%	57.51%	25.95%	41.15%	-15.87%	26.25%

Correlation

The correlation between XHB and FSHOX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Feb 7, 2006	0.91

The correlation between XHB and FSHOX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

XHB vs. FSHOX — Risk / Return Rank

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

XHB

XHB Risk / Return Rank: 14
XHB Sharpe Ratio Rank: 14
XHB Sortino Ratio Rank: 16
XHB Omega Ratio Rank: 15
XHB Calmar Ratio Rank: 14
XHB Martin Ratio Rank: 13

FSHOX

FSHOX Risk / Return Rank: 8
FSHOX Sharpe Ratio Rank: 8
FSHOX Sortino Ratio Rank: 9
FSHOX Omega Ratio Rank: 7
FSHOX Calmar Ratio Rank: 7
FSHOX Martin Ratio Rank: 7

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.

XHB vs. FSHOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Homebuilders ETF (XHB) and Fidelity Select Construction & Housing Portfolio (FSHOX). 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.

	XHB	FSHOX	Difference
Sharpe ratio: Return per unit of total volatility	0.38	0.63	-0.25
Sortino ratio: Return per unit of downside risk	0.80	1.09	-0.29
Omega ratio: Gain probability vs. loss probability	1.09	1.12	-0.03
Calmar ratio: Return relative to maximum drawdown	0.48	0.75	-0.27
Martin ratio: Return relative to average drawdown	1.01	1.96	-0.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XHB vs. FSHOX - Sharpe Ratio Comparison

The current XHB Sharpe Ratio is 0.38, which is lower than the FSHOX Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of XHB and FSHOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XHB	FSHOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.38	0.63	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.46	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.65	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.56	-0.40

Drawdowns

XHB vs. FSHOX - Drawdown Comparison

The maximum XHB drawdown since its inception was -81.61%, which is greater than FSHOX's maximum drawdown of -61.68%. Use the drawdown chart below to compare losses from any high point for XHB and FSHOX.

Drawdown Indicators

	XHB	FSHOX	Difference
Max Drawdown Largest peak-to-trough decline	-81.61%	-61.68%	-19.93%
Max Drawdown (1Y) Largest decline over 1 year	-21.71%	-16.54%	-5.17%
Max Drawdown (3Y) Largest decline over 3 years	-30.53%	-24.76%	-5.77%
Max Drawdown (5Y) Largest decline over 5 years	-39.46%	-33.23%	-6.23%
Max Drawdown (10Y) Largest decline over 10 years	-49.57%	-43.67%	-5.90%
Current Drawdown Current decline from peak	-16.32%	-9.60%	-6.72%
Average Drawdown Average peak-to-trough decline	-27.60%	-9.84%	-17.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.29%	6.32%	+3.97%

Volatility

XHB vs. FSHOX - Volatility Comparison

SPDR S&P Homebuilders ETF (XHB) has a higher volatility of 8.43% compared to Fidelity Select Construction & Housing Portfolio (FSHOX) at 6.20%. This indicates that XHB's price experiences larger fluctuations and is considered to be riskier than FSHOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XHB	FSHOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.43%	6.20%	+2.23%
Volatility (6M) Calculated over the trailing 6-month period	19.99%	15.72%	+4.27%
Volatility (1Y) Calculated over the trailing 1-year period	27.75%	19.86%	+7.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.64%	21.69%	+5.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.42%	22.49%	+4.93%

XHB vs. FSHOX - Expense Ratio Comparison

XHB has a 0.35% expense ratio, which is lower than FSHOX's 0.76% expense ratio.

Dividends

XHB vs. FSHOX - Dividend Comparison

XHB's dividend yield for the trailing twelve months is around 0.62%, less than FSHOX's 6.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSHOX Fidelity Select Construction & Housing Portfolio	6.14%	3.91%	4.05%	0.82%	0.80%	5.45%	4.73%	7.91%	15.47%	13.62%	3.61%	3.26%
XHB SPDR S&P Homebuilders ETF	0.62%	0.78%	0.59%	0.77%	1.06%	0.51%	0.73%	0.89%	1.25%	0.72%	0.67%	0.50%

Frequently Asked Questions

Can I hold both XHB and FSHOX in my portfolio?

With a correlation of 0.91, XHB and FSHOX 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, XHB or FSHOX?

XHB has higher volatility (8.43%) compared to FSHOX (6.20%). In terms of maximum drawdown, XHB dropped -81.61% vs FSHOX's -61.68%.

Which has better risk-adjusted returns?

FSHOX currently has the higher Sharpe Ratio (0.63 vs 0.38), 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.