Fund Evaluator:
Fidelity Advisor Semiconductors I (FELIX)
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Best Performing in Technology Over the Last Year
| 150.0% | Rydex Electronics Inv (RYSIX) |
| 135.3% | Fidelity Advisor Semiconductors Z (FIKGX) |
| 135.1% | Fidelity Advisor Semiconductors I (FELIX) |
| 130.6% | Fidelity Select Semiconductors (FSELX) |
| 129.6% | Fidelity Select Tech Hardware (FDCPX) |
Fund Details
Fidelity Advisor Semiconductors I Overview
Fidelity Advisor Semiconductors I (FELIX) is an actively managed Sector Equity Technology fund. Fidelity Investments launched the fund in 2000.
The investment seeks capital appreciation. The fund normally invests primarily in common stocks. It normally invests at least 80% of assets in securities of companies principally engaged in the design, manufacture, or sale of semiconductors and semiconductor equipment. 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 Advisor Semiconductors I (FELIX)
There are 1 members of the management team with an average tenure of 6.29 years: Adam Benjamin (2020). 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 MSCI US IMI/Semicon Equip 25-50 GR USD index with a weighting of 100%. Fidelity Advisor Semiconductors I has 70 securities in its portfolio. The top 10 holdings constitute 77.4% 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 Advisor Semiconductors I is part of the Equity global asset class and is within the Sector Equity fund group. Fidelity Advisor Semiconductors I has 8.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 88.5%. There is 8.6% 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 Advisor Semiconductors I has 1.6% of the portfolio in cash.
Assets Under Management
The fund has $3 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.
FELIX 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 Advisor Semiconductors I expense ratio is above average compared to funds in the Technology category. Fidelity Advisor Semiconductors I has an expense ratio of 0.69%, which is 44% 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 Advisor Semiconductors I has a portfolio turnover rate of 65%, 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 Advisor Semiconductors I returned 5.9%, 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 Advisor Semiconductors I has a trailing yield of 0.00%, which is below the 0.05% category average. The fund normally distributes its income none 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 Advisor Semiconductors I Grades
Year to date, the fund has returned 80.5%, 46.9 percentage points better than the category, which translates into a grade of A. The fund has returned 135.1% over the past year (grade of A), 59.4% over the past three years (grade of A) and 40.9% per year over the past five years (grade of A) and 37.6% per year over the past 10 years (grade of A).
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FELIX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FELIX Return (NAV) | 5.9% | 67.9% | 135.1% | 59.4% | 40.9% | 37.6% |
| FELIX Grade | A | A | A | A | A | A |
| +/- Category | 4.0% | 27.2% | 81.3% | 26.6% | 26.0% | 14.8% |
| Technology Avg | 1.9% | 40.7% | 53.8% | 32.9% | 14.8% | 22.8% |
| FELIX Tax Cost Ratio | na | na | 1.6% | 1.2% | 1.1% | 1.5% |
FELIX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FELIX Return (NAV) | 80.5% | 45.2% | 44.1% | 75.3% | -34.9% | 57.9% | 44.1% | 64.2% | -12.2% | 34.7% | 32.8% |
| FELIX Grade | A | A | A | A | B | A | F | A | F | D | A |
| +/- Category | 46.9% | 20.5% | 15.7% | 25.7% | 3.3% | 40.7% | -12.8% | 22.9% | -8.3% | -2.7% | 22.0% |
| Technology Avg | 33.6% | 24.7% | 28.3% | 49.6% | -38.2% | 17.2% | 56.9% | 41.2% | -3.9% | 37.4% | 10.8% |
| Risk Measures | |
| Standard Deviation: | 32.9% |
| Total Risk Index: | 2.71 - High |
| Category Risk Index: | 1.36 - High |
| Category Risk Grade: | F (94% Rank) |
| Beta: | 2.10 |
| R-Squared: | 65% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | None |
| Cap Gains Distribution: | Semi-Annually |
| Total Assets: | $8699 Mil |
| Fund Total Assets: | $3,152 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 65% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 6.3 years | |||
| Average Tenure: 6.3 years | |||
| Managers (Year): Benjamin Adam (2020) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 70 |
| % in Top 10 Holdings: | 77.4% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 8.6% |
Portfolio Allocation |
|
| Domestic Stock: | 88.5% |
| Foreign Stock: | 8.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 1.3% |
| Cash: | 1.6% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 877-208-0098 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | December 27, 2000 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.69% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.23% |
| Share Class: | Fidelity Advisor Semiconductors I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
