As of my last update in 2023, FSELX (Fidelity Select Semiconductors) is a sector-specific fund that invests primarily in companies involved in the design, manufacture, or sale of semiconductors. Given its focus, FSELX performance is tied to the semiconductor industry's dynamics, which are influenced by factors such as technological advancements, global chip demand, supply chain issues, and trade relations. Performance may fluctuate with macroeconomic trends affecting consumer electronics, data centers, automotive tech, and industrial applications.