@Catch22 Why would utility funds like FSUTX have dropped over 20% YTD?

PE ratios were high by historical standards. Prices were bid up because almost everyone was looking for "safety" and yield.
Then, when the poop hit the windmill, almost everyone started selling almost everything. Fidelity Med Tech & Devices (FSMEX) is also down a little over 20% so far. And I have to figure the world is burning through the things the constituent companies are selling at a prodigious rate lately.
BTW. Solar laws vary quite a bit state-to-state. The situation you describe is not the way it works in the Phoenix metro. I won't get into all the argle-bargle because I haven't lived here long enough to figure it out myself. But I do know it pert-near killed the solar installation industry shortly before we moved here. Just trying to figure it out on our utility website was enough to make us skip any consideration of getting solar.

I'm hoping for Bee's suggestion FSMEX.

I was bummed when I found it was closed. I wanted to put it in my wife's IRA. I have it in my taxable, and IRA.

I'm hoping for Bee's suggestion FSMEX.

POAGX
PRWCX
FSMEX
FDGRX
BCSIX
PHSZX
OIGYX
funds-closed-to-new-investors

WABAC
How much importance do you give to the 2008 returns compared to the capture ratios in Morningstar volatility section under RISK?

The shape of the capture ratios are more important to me than the max drawdown, But if I'm interested in a fund I'll check to see if the managers lived through that debacle.
Check Fidelity Med Tech and Devcs (FSMEX) for some ideal capture ratios. I was able to get it into my IRA, and taxable, accounts before it closed. Zowie!

Hi guys,
I did some buying on Friday. Added to FIFNX, FNSTX, FSMEX, MLPFX, PGTAX, ROGSX, and TGJNX.
I bought Friday due to the drop and hoped for a bounce. But, who knows? This market is crazy....think TESLA. I think on MLPFX that will be my last buy. Oil is just too crazy right now. It could be a value trap. The virus thing with China.....it's all guessing, and all the media hype doesn't help. I still think we go higher this year. After all, we're not at "0" interest rates yet.
God bless
the Pudd

@Simon
Yes to your observations.........the linked site is not an investment site; but a catch-all site for various stories in the hope of ad-click $, IMO. Many other features at the site are dead end and some from 2018.
The FSMEX info is incorrect as to minimum investment $ and beyond this, the fund has been CLOSED to new money for some time.
NOT much going on with the "write ???" for healthcare........

As part of my end of the year portfolio review I try to simplify my holdings without compromising performance. I am 60 years old and have a pension, but no Social Security (SS's WEP provision eliminated SS for me). I see the next 20 years as a time to spend a little bit of what I have saved knowing full well that, if I am lucky enough to live into my eighties, spending priorities will begin to shift away from "foot loose and fancy free" to "foot wear that's loose and free".
Simplification comes in two forms. One, I am attempting to simplify what I hold (the number of funds) and two, where I hold these funds (the number of institutions where I hold the funds). I manage all of my investments independent of advisors. I do attempt to seek out mutual funds that are managed. So, in a sense, I do pay for investment management advice as a function of the Expense Ratio (ER) of the funds i own that have fund managers or management teams.
Over the next 20 years my withdrawal from these investments need to fund:
- Yearly Income gaps - the yearly shortfall when I subtract my projected yearly expenses from my retirement income.
- One time Expenses - For gift costs (weddings, tuition, holidays), travel costs, medical procedures costs (not covered by insurances), large one time item costs (a car, boat, real estate)
- Roth Conversions up to the 12% tax bracket limit (25% of my retirement accounts are in deferred taxable IRA, 75% in Roth/HSA).
- Help fund retirement needs beyond 80 such as income gaps as a result of inflation, out of pocket health care costs, funeral expenses, providing for surviving spouse, and gifting to beneficiaries (Spouse, Kids, Charities)...oh yeah, and loose fitting shoes.
Here are my present holding by percentages of total:
71% Moderate to Aggressive positions (for long term growth and periodic withdrawals)
PRWCX - 22% (half Roth, half SD IRA)
PRGSX - 10.5% (Roth)
PRMTX - 7.5% (Roth)
PRHSX - 4% (SD IRA)
VMVFX - 6% (Roth)
VHCOX / POAGX-11% (Roth)
VHT - 2% (Roth)
FSMEX - 4% (Roth)
FSRPX - 4% (Roth)
6% Balance position (to cover Long term HC costs)
BRUFX - (HSA)
23% Conservative positions (to cover sequence of return withdrawals, to provide cash for buying opportunities, lower portfolio volatility)
FRIFX, VWINX, PTIAX, VFISX, PRWBX, SPRXX - (mostly Roth)
I am presently at 5 institutions which I will reduce to 4 by Spring 2020 and 3 by summer 2020
Recently, I back tested a portfolio consisting of PRWCX (34%), PRMTX (33%) and PRHSX (33%) which I consider moderately aggressive.
Its past 20 year performance had a MAXXDD recovery period of 3 years. I consider this a reasonable time frame to cover a sequence of return risk withdrawal.
Having at least 3 years of retirement income money earmarked for these future time frames (market pull backs and recoveries) seems reasonable to me. A combination of FRIFX / VWINX / PTIAX / ST Bonds are my choices for this part of my portfolio.
Any thoughts or suggestions would be appreciated.

You noted: "think health care maybe good for long term"
Just say'in, the charts don't lie for this area............ Yes, they have their moments, too; with sideways movement and all the noise from political land is always an edge.
Health medical devices/science has been the strong area here since 2016. 'Course, there are many narrow areas in health science if you want to gamble a bit more.
SPY included in the chart for a broad U.S. reference.
Hover cursor over color symbol at top of chart to see ticker symbol.
Healthcare, broad and sector specific

Hi Catch,
Yeah, I also like healthcare as you do.....not as much now as a few years ago. Also own FSPHX and FSMEX. I think you do also. Have added to GIBLX and PTIAX with the 10 year at 1.80. Also have added to FSENX on Friday. Have made 6.3% on the first investment on 10/2. Too bad it was so small. Other things I'm looking at: YAFFX, TWEIX, THOPX, and TRBUX. I think we go higher from here. My biggest regret is that I did not add to VWINX when I had a chance at the end of last year. One last question: is a municipal fund worthwhile in an IRA? Have been thinking about EALBX.
God bless
the Pudd

Part of this CEF distribution in 2017 was return of one's own capital invested.
Being curious....., the below 3 healthcare related were chosen, for about 5.5 years of compare.
GRX FSPHX FHLC FSMEX compare chart starting Oct. 2013
GRX has performed well during the past 3 week healthcare whack. It appears they are able to use a percent of the money for derivatives functions; and have it right at this particular time frame.
However, we remain a total return investor; not for the yield/distribution function.

@jerry et al I don't disagree about a time frame chosen by Fidelity. They know better than any of us about the internals.
A couple of notes for the curious.
FSMEX and fund assets for the past few years.
2016 remained mostly around for the year for each month. I suspect, although did not check; this flatness to be the same for 2015, as that year was pretty much sideways for health funds in general.
---2016, avg. monthly assets =$2 billion
---2017, Aug. = $4 billion
---2018, Oct. = $6.3 billion
---2019, Mar./early April = $7 billion
Not a fair and fully just comparison, but FSPHX (broad-based health), which has been in place since 1981 and is very well known and respected, currently has $7.2 billion of managed assets.
Lastly, we did a test trade and for those having a position in FSMEX, all is well for purchase at this time. I suspect the same holds true for as long as access is allowed where this fund exists within 401k's, 403's, etc. Obviously, a lot of money may still flow to this fund.
ADD: Fidelity closed the FDGRX fund to new money in 2006. However, notice was provided as to a time frame. I don't recall exactly, but suggest the cut off was within a 3 month period. But, the fund remains open to adding money from existing fund holders, including where available in 401k/403b type retirement accounts.
Good evening,
Catch

Ive held IHI for 3 years,and have not been sorry I chose it over FSMEX, returns exceed ytd, 1, 3, 5 and 10 year over Fidelity's fund, which I did look at when choosing, but since I have FSPHX, same manager as FSMEX, chose IHI.

Hi @Mark
I don't know whether you viewed the chart I posted a few threads back; but the IHI (I-shares etf) has a very close return % over most time frames compared to FSMEX. The expense ratio is almost half of FSMEX. Recalling you may have a Fido brokerage acct., this etf is readily available for purchase.
Not that everyone is beating a path to purchase in this area; but one may consider that those now blocked from FSMEX may travel to the IBI etf; or perhaps a similar XHE.
There may be other health related funds that currently tilt to a larger % of med. tech/devices positions, of which I am not aware.
I still consider this area to be a money maker going forward.
Comments/thoughts by one and all to this sector are appreciated.
Take care,
Catch

Disappointing I'm sure but understandable. This fund has been a solid option in the health category and that has a lot to do with not only equity selection but AUM prudence. It's exactly what I would look for in a specialized category fund. I've never understood the benefit(s) to existing shareholders of pre-announcing the imminent closing of a fund.
Just to be clear I had been toying with flipping my position in PRHSX for FSMEX or a least a portion thereof. Guess I'll have to wait.

Last Friday at 9pm i got an email from FIDO telling my FSMEX is closed effective IMMEDIATELY!
I contacted FIDO and they had no answer as to why there was NO NOTICE given, other than they did not want a rush of $$$$'s into the fund.
I do not recall FIDO doing something so rash before.

Ok, not trying to play tricks with time frames....so, the following applies with this chart:
2015 and some of 2016 were quite sideways for much of the health sector. I chose this time frame (to date) to help show when these sectors started to move apart. If one goes back to 2011 or so, FSPHX and PRHSX have strong long term performance, but this has obviously changed, yes?
The chart is set with FSMEX, FSPHX, PRHSX active funds with FSMEX being the only tech. medical device centered health fund. Two others are etf's; being IHI and XHE.
There may be some form of index that is med. tech. only. I have not searched.
Lastly, with all of the new positioning in DC-land about reworking health care cost, who knows what will arrive. But, currently; large exposure to health care providers such as Humana, United Health Care + others in this area; and insurance are feeling some pain right now. This has and will affect health funds with these holdings. FSHCX is one such fund and I expect its performance to get some more whacks.
3 health active funds, 2 etfs
ADD: since Fidelity first introduced their select/sector funds in the early 80's, I don't recall a close. They have shuffled some names to better fit a sector and have merged a few. If they have closed some before, they were not something with which we were involved at the time.
@msf You're familiar too, with Fidelity functions. I've not had any message, nor discover any announcements regarding the closing of FSMEX.
Anyway, for your knowledge.
Take care,
Catch

FSMEX is a health care fund, but travels the technology/medical devices path.
I don't know how fresh is this close, but I don't recall seeing any notice a few weeks ago while looking at things within Fidelity. Anyway, from recall in 2018; I do believe the size of this fund moved from about $4.6 billion to almost $7 billion now, in less than 1 years time.
I'll get back here with a handy-dandy chart of this fund and related. The charting is not being cooperative right now.
Catch

Adding to @Junkster and his note about the (14 day RSI in the 90s). The "teal" color at the top of this chart is the RSI section above the 70 number. One finds the available range of 100 (overbought, too hot to handle/buy) to 0 (oversold, dying or dead) for a FULL RSI scale.
3 year IOFIX chart
--- A more typical chart for a well performing fund, being FSMEX, and one will see the periodic moves above the "70". I reference this particular fund for its long term performance overview and typical bumps in the road. The 10 year annualized = 19.3%.
3 year chart, FSMEX
I suspect that Junkster will agree that the IOFIX chart and the implication is very exceptional to the rule.
Regards,
Catch

I am continuing to build the positions on FSMEX and IHI (thank you @slick).