Fidelity Select Utilities primarily invests at least 80% of its assets in companies engaged in the utilities sector, including electricity producers, gas distributors, and water utility firms. The fund's focus on utilities positions it well during economic downturns, as the sector tends to offer stable cash flows and dividends. With increasing emphasis on renewable energy and infrastructure modernization, FSUTX may benefit from favorable regulatory trends and rising demand for sustainable energy solutions. Its global investment approach also diversifies risk across domestic and international markets.