Fund Evaluator:

Fidelity Select Gold Overview

Fidelity Select Gold (FSAGX) is an actively managed Sector Equity Equity Precious Metals fund. Fidelity Investments launched the fund in 1985.

The investment seeks capital appreciation. The fund normally invests at least 80% of assets in securities of companies principally engaged in gold-related activities, and in gold bullion or coins. It invests up to 25% of assets in gold and other precious metals through a wholly-owned subsidiary. The fund invests primarily in common stocks and in certain precious metals. It invests primarily in companies engaged in exploration, mining, processing, or dealing in gold, or to a lesser degree, in silver, platinum, diamonds, or other precious metals and minerals. The fund is non-diversified.

About Fidelity Select Gold (FSAGX)

There are 1 members of the management team with an average tenure of 1.55 years: Boris Shepov (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 S&P Global BMI Gold Capped 20/45 index with a weighting of 100%. Fidelity Select Gold has 43 securities in its portfolio. The top 10 holdings constitute 67.5% 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 Gold is part of the Equity global asset class and is within the Sector Equity fund group. Fidelity Select Gold has 76.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 23.5%. There is 76.3% 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 Gold has 0.2% of the portfolio in cash.

Assets Under Management

The fund has $2 billion in total assets, which is above the $433 million average for the Equity Precious Metals 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.

FSAGX 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 Gold expense ratio is above average compared to funds in the Equity Precious Metals category. Fidelity Select Gold has an expense ratio of 0.64%, which is 50% 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 Gold has a portfolio turnover rate of 60%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 55% for the Equity Precious Metals category.

Recently, in the month of June 2026, Fidelity Select Gold returned -14.9%, which earned it a grade of C, as the Equity Precious Metals category had an average return of -15.0%. 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 Gold has a trailing yield of 5.62%, which is above the 5.58% 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 Gold Grades

Year to date, the fund has returned -8.8%, 0.7 percentage points better than the category, which translates into a grade of B. The fund has returned 42.3% over the past year (grade of F), 36.4% over the past three years (grade of D) and 15.6% per year over the past five years (grade of F) and 9.4% per year over the past 10 years (grade of F).

For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.

Otherwise, for more information about Fidelity Select Gold, including its riskiness, submit your email to unlock the rest of the article.