Selectivity and Market Timing Performance of Fidelity Sector Mutual Funds

Posted: 21 Sep 2001  

Wilfred L. Dellva

Villanova University

Andrea L. DeMaskey

Villanova University - Department of Finance

Colleen A. Smith

Villanova University

Abstract

In this paper, we test the selectivity and timing performance of the Fidelity sector mutual funds during the 1989-1998 time period. We use the S&P 500, the Dow Jones Industry Group Total Return Indexes, and the Dow Jones Subgroup Total Return Indexes as benchmarks. When we use the Dow Jones Industry benchmarks, our results indicate that many sector fund managers have positive selectivity but negative timing ability. We also find that the results are sensitive to our choice of benchmark and timing model.

Suggested Citation

Dellva, Wilfred L. and DeMaskey, Andrea L. and Smith, Colleen A., Selectivity and Market Timing Performance of Fidelity Sector Mutual Funds. Financial Review, February 2001. Available at SSRN: https://ssrn.com/abstract=274415

Wilfred L. Dellva (Contact Author)

Villanova University ( email )

Department of Finance
Villanova, PA 19085
United States
(610) 519-7797 (Phone)
(610) 519-6881 (Fax)

Andrea L. DeMaskey

Villanova University - Department of Finance ( email )

800 Lancaster Avenue
Villanova, PA 19085-1678
United States
(610) 519-6108 (Phone)
(610) 519-6881 (Fax)

Colleen A. Smith

Villanova University

Villanova, PA 19085
United States

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