FSDAX Performance — Select Defense and Aerospace Portfolio
Data updated: 2026-07-24
FSDAX returned +9.88% year to date and +31.59% over one year to May 2026. Annualised returns are +31.17% over 3 years and +17.11% over 5 years. Against its Industrials Equity category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $226, against $192 for the category, and to $132 over one year, against $132. Volatility over the past three years was 17.80% a year. In the 12 months to May 2026 the fund took in a net $809.0M, and assets reached $3.86B.
FSDAX Growth of $100
What $100 invested in Select Defense and Aerospace Portfolio grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Industrials Equity category average over the same months.
| Period | FSDAX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $132 | $132 |
| 3 years (Jun 2023 – May 2026) | $226 | $192 |
| 5 years (Jun 2021 – May 2026) | $220 | $178 |
| Since data start (Sep 2019 – May 2026) | $233 | $257 |
FSDAX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +9.88% |
| 1 year | +31.59% |
| 3 years (annualised) | +31.17% |
| 5 years (annualised) | +17.11% |
FSDAX Annual Returns
Calendar-year total returns of Select Defense and Aerospace Portfolio, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +9.88% |
| 2025 | +49.96% |
| 2024 | +15.83% |
| 2023 | +16.19% |
| 2022 | +6.94% |
| 2021 | +4.89% |
| 2020 | −7.97% |
| 2019 (Sep–Dec) | +1.76% |
FSDAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +6.1% | +6.0% | −11.0% | +1.8% | +7.8% | — | — | — | — | — | — | — |
| 2025 | +7.4% | +0.1% | +0.1% | +3.3% | +12.8% | +6.0% | +3.9% | +1.1% | +4.8% | +1.4% | −4.3% | +5.7% |
| 2024 | −4.3% | +4.1% | +4.0% | −0.4% | +4.4% | −1.9% | +8.5% | +2.1% | +1.1% | −3.9% | +6.5% | −4.4% |
| 2023 | +2.5% | −0.2% | +0.8% | −0.9% | −3.8% | +7.4% | +1.5% | −2.3% | −8.8% | +4.5% | +9.7% | +6.1% |
| 2022 | −2.8% | +10.8% | −0.6% | −8.6% | −2.0% | −2.2% | +5.3% | −2.5% | −11.5% | +17.3% | +5.1% | +1.9% |
| 2021 | −6.6% | +6.1% | +9.6% | +1.7% | +2.2% | −0.8% | −1.8% | −1.7% | −2.0% | 0.0% | −6.3% | +5.5% |
| 2020 | +3.2% | −12.2% | −25.8% | +7.8% | +8.0% | −4.2% | −1.3% | +6.6% | −4.4% | −2.8% | +19.5% | +5.1% |
| 2019 | — | — | — | — | — | — | — | — | +0.6% | −1.5% | +5.0% | −2.2% |
FSDAX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 17.80%
- 3-year Sharpe ratio: 1.50 (vs 4.5% risk-free rate)
- Best month: +12.75% (May 2025)
- Worst month: −10.96% (Mar 2026)
FSDAX Fund Flows
Monthly money in and out of Select Defense and Aerospace Portfolio, from SEC Form N-PORT.
- 12-month net flow: $809.0M
- 12-month gross sales (incl. reinvestments): $2.2B
- Sales ÷ redemptions: 1.57×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $62.2M | $184.1M | −$121.9M |
| Apr 2026 | $102.2M | $186.4M | −$84.1M |
| Mar 2026 | $216.7M | $125.6M | $91.1M |
| Feb 2026 | $128.8M | $98.4M | $30.4M |
| Jan 2026 | $376.8M | $83.9M | $292.9M |
| Dec 2025 | $160.8M | $158.1M | $2.7M |
| Nov 2025 | $237.7M | $253.4M | −$15.8M |
| Oct 2025 | $175.1M | $87.4M | $87.7M |
| Sep 2025 | $122.1M | $85.3M | $36.9M |
| Aug 2025 | $171.2M | $65.8M | $105.4M |
| Jul 2025 | $267.7M | $47.8M | $219.9M |
| Jun 2025 | $200.4M | $36.4M | $163.9M |
FSDAX Assets Under Management
Net assets of Select Defense and Aerospace Portfolio by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $3.86B |
| 2026-02-28 | $4.10B |
| 2025-11-30 | $3.23B |
| 2025-08-31 | $3.08B |
| 2025-05-31 | $2.30B |
| 2025-02-28 | $1.84B |
| 2024-11-30 | $1.82B |
| 2024-08-31 | $1.76B |
| 2024-05-31 | $1.65B |
| 2024-02-29 | $1.57B |
| 2023-11-30 | $1.53B |
| 2023-08-31 | $1.49B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.