The Fund Grade · free · no account needed
What grade does FSHOX get?
Morningstar rates funds on what they returned. We grade them on where their money sits today: how much of the book overlaps with the converged buys of the top specialist stock pickers.
Fundprints Fund Grade · as of 2026-10-01
Fidelity Select Construction & Housing
#167 of 500 graded active funds · blend · mid segment peer group
The point · specialist footprint
FSHOX puts less of its book behind proven specialists than 74% of graded funds.
Bottom 20%
● Bottom 40%
Middle
Top 40%
Top 20%
That has mattered: over the past 2.7 years, funds with this little specialist backing trailed top-rung funds by about 3.8% per quarter and beat the S&P in only 22% of fund-quarters. If it also charges an active fee, the higher-graded alternatives deserve a look.
10,000+ funds tracked · the graded specialists among them drive every read
The grade scores this fund's specialist share, the slice that overlaps what the top 1% of proven funds are building. We ignore index ballast and names outside our edge on purpose: that slice is small, and it's what decides the outcome.
FSHOX vs the Honor Roll · share card ↗Conviction exposure
8.8%
of the book in specialist-converged names
Late-stage weight
47.6%
of the book in Crowded or Fading names
Active share
97.1%
how far it strays from the index
The best grades have beaten the worst by about +5% a year since we began grading. The gap held in 9 out of 10 months. Measured on filings as they were published, no hindsight.
Inside the book: top names by stage · as of 2026-10-20
We email you the day it crosses 50% crowded, and where you stand every month.
Graded monthly from point-in-time filings. A description of where the money sits, not a recommendation. Evidence, not advice.
The read · what to do with it
FSHOX earns a B grade, ranking 167 of 500, with specialist ownership at a modest 8.8%. Nearly half the portfolio sits in late or fading positions, including HD and LOW, which are crowded trades specialists are stepping back from. The brighter spots are PWR, JCI, and TT, where proven specialists are still building early conviction.
→ Watch HD and LOW closely, both are crowded at a combined 24.5% weight and specialists are already pulling back.
→ Note that PWR, JCI, and TT represent the fund's strongest early signal and together carry about 18.6% weight.
Support leaving these positions
Same family, higher grade
Read from today's disclosed book. Evidence, not advice.