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To: Crimson Ghost who wrote (34572)	1/8/1999 11:37:00 PM
From: Q.	Read Replies (2) \| Respond to of 95453

George, re. <<FSESX ... typically lags the OSX a bit both up and down>> I wondered why that might be, since I'm not familiar with this sector, or with the Fidelity sector funds, so ... I made the comparison chart, shown below tscn.com It looks to me as if the FSESX is an exact proxy for the OSX, with no significant lag whatever. Day to day, there is sometimes a 1% difference between the two, but this difference is soon erased, and it appears that the occasional minor difference is fairly random, and does not follow a pattern of the FSESX always trailing the OSX. I'm curious, does Fidelity claim that its sector funds are intended to be proxies for sector indices, or does Fidelity try to manage its funds more than that?