Fund Evaluator:

Fidelity Select Tech Hardware Overview

Fidelity Select Tech Hardware (FDCPX) is an actively managed Sector Equity Technology fund. Fidelity Investments launched the fund in 1985.

The investment seeks capital appreciation. The fund normally invests in common stocks. It invests at least 80% of assets in securities of companies principally engaged in development, manufacture, or distribution of tech hardware. The fund invests in domestic and foreign issuers. It uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments. The fund is non-diversified.

About Fidelity Select Tech Hardware (FDCPX)

There are 1 members of the management team with an average tenure of 2.17 years: Aidan Brandt (2024). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and FactSet Hardware Tech Linked TR USD index with a weighting of 100%. Fidelity Select Tech Hardware has 41 securities in its portfolio. The top 10 holdings constitute 65.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Fidelity Select Tech Hardware is part of the Equity global asset class and is within the Sector Equity fund group. Fidelity Select Tech Hardware has 35.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 61.4%. There is 35.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fidelity Select Tech Hardware has 3.3% of the portfolio in cash.

Assets Under Management

The fund has $4 billion in total assets, which is above the $1 billion average for the Technology category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

FDCPX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fidelity Select Tech Hardware expense ratio is above average compared to funds in the Technology category. Fidelity Select Tech Hardware has an expense ratio of 0.67%, which is 46% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Fidelity Select Tech Hardware has a portfolio turnover rate of 53%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 77% for the Technology category.

Recently, in the month of June 2026, Fidelity Select Tech Hardware returned 6.3%, which earned it a grade of A, as the Technology category had an average return of 1.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Fidelity Select Tech Hardware has a trailing yield of 0.38%, which is above the 0.05% category average. The fund normally distributes its income semi-annually and its capital gains semi-annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Fidelity Select Tech Hardware Grades

Year to date, the fund has returned 84.7%, 51.1 percentage points better than the category, which translates into a grade of A. The fund has returned 129.6% over the past year (grade of A), 50.9% over the past three years (grade of A) and 27.5% per year over the past five years (grade of A) and 27.5% per year over the past 10 years (grade of A).

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