Fund Evaluator:
Fidelity Select Semiconductors (FSELX)
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Best Performing in Technology Over the Last Year
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Fund Details
Fidelity Select Semiconductors Overview
Fidelity Select Semiconductors (FSELX) is an actively managed Sector Equity Technology fund. Fidelity Investments launched the fund in 1985.
The investment seeks capital appreciation. The fund invests primarily in common stocks. It invests at least 80% of its 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 Select Semiconductors (FSELX)
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 Select Semiconductors has 70 securities in its portfolio. The top 10 holdings constitute 76.5% 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 Semiconductors is part of the Equity global asset class and is within the Sector Equity fund group. Fidelity Select Semiconductors has 8.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 88.2%. There is 8.0% 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 Semiconductors has 2.4% of the portfolio in cash.
Assets Under Management
The fund has $54 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.
FSELX 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 Semiconductors expense ratio is above average compared to funds in the Technology category. Fidelity Select Semiconductors has an expense ratio of 0.60%, which is 51% 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 Semiconductors has a portfolio turnover rate of 87%, 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 Semiconductors returned 5.7%, 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 Semiconductors has a trailing yield of 0.00%, which is below 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 Semiconductors Grades
Year to date, the fund has returned 80.1%, 46.5 percentage points better than the category, which translates into a grade of A. The fund has returned 130.6% over the past year (grade of A), 58.2% over the past three years (grade of A) and 40.7% per year over the past five years (grade of A) and 37.7% per year over the past 10 years (grade of A).
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FSELX 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 |
|
| FSELX Return (NAV) | 5.7% | 68.0% | 130.6% | 58.2% | 40.7% | 37.7% |
| FSELX Grade | A | A | A | A | A | A |
| +/- Category | 3.8% | 27.3% | 76.8% | 25.4% | 25.8% | 14.9% |
| Technology Avg | 1.9% | 40.7% | 53.8% | 32.9% | 14.8% | 22.8% |
| FSELX Tax Cost Ratio | na | na | 3.3% | 2.4% | 1.9% | 2.6% |
FSELX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FSELX Return (NAV) | 80.1% | 42.9% | 43.5% | 78.1% | -35.2% | 59.2% | 44.0% | 64.5% | -11.8% | 35.1% | 32.4% |
| FSELX Grade | A | A | A | A | B | A | F | A | F | C | A |
| +/- Category | 46.5% | 18.2% | 15.2% | 28.5% | 3.0% | 42.0% | -12.8% | 23.2% | -7.8% | -2.3% | 21.5% |
| 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: | 33.0% |
| Total Risk Index: | 2.72 - High |
| Category Risk Index: | 1.36 - High |
| Category Risk Grade: | F (95% Rank) |
| Beta: | 2.13 |
| R-Squared: | 66% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | Semi-Annually |
| Total Assets: | $54434 Mil |
| Fund Total Assets: | $54,435 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 87% |
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: | 76.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 8.0% |
Portfolio Allocation |
|
| Domestic Stock: | 88.2% |
| Foreign Stock: | 8.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 1.3% |
| Cash: | 2.4% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 800-544-8544 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | July 29, 1985 |
| 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 (%): | 0.60% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.23% |
| Share Class: | Fidelity Select Semiconductors |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
