I have made a fortune with Fidelity Selects and I never paid a load becase I funded these selects within my 401K rollover account at Fidelity. In 1996 I exchanged funds to each of the Selects related with computers, electronics, telecomminications, etc. The technology Selects have performed well above my expectations since 1996. In fact my taxable long term savings/emergency account is Fidelity's Select Electronics. In 1996 I invested 2,500 and paid the 3% load. Never investing any additional funds my balance is now five figures. So I don't mind paying a load if my return is 30% annualized.