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Fidelity Select Funds: Best, Worst, and 2010 Forecast
Year 2009 is ending. With just a few more trading days to go, Fidelity Select Automotive (FSAVX) with a year-to-date return of 116% stands far above the current runner up Fidelity Select Technology (FSPTX). If things end where they stack up now, Fidelity Select Home Finance (FSVLX) will go down as the year’s worst performer. This fund also stands a chance of being the only loser among Fidelity sector funds in 2009.
So, which Fidelity Select Fund will lead the way in 2010?
In my experience of analyzing Fidelity Select Funds for over two decades, the best performer seldom makes it two-in-a-row. Fidelity Select Gold (FSAGX) putting in back-to-back top performances in 2001 and 2002 is more of an exception than the rule. Likewise, the odds of bottom performers turning around to become the best performer in the following year are quite low as well. Fidelity Select Automotive is an exception this year after finishing second worst in 2008. Internal Sponsorship
Succeed with Sector Investments in 2010!
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On average, the best performing Fidelity Select Fund has returned 85% more than the worst performing Fidelity Select Fund during the past 12 years. The spread was highest in 1999 at 162% when Fidelity Select Technology gained 132% and Fidelity Select Medical Delivery (FSHCX) lost 30%. The spread was narrowest in 2006 at 34% when Fidelity Real Estate (FRESX) gained 33% and Fidelity Select Medical Delivery lost 1%. The spread was surprisingly contained at 52% in 2008 when stock market volatility set new records and all Fidelity Select Funds declined.
