Congenital heart disease (CHD) is the most widely occurring congenital defect and accounts to about 28% of the overall congenital defects. Analysis of the development of the fetal heart thus plays an important role for detection of abnormality in early stages and to take corrective measures. Cardiac chamber analysis is one of the important diagnosing methods. Segmentation of the cardiac chambers must be done appropriately to avoid false interpretations. Effective segmentation of fetal ventricular chambers is a challenging task as the speckle noise inherent in ultrasound images cause blurring of the boundaries of anatomical structures. Several segmentation techniques have been proposed for extracting the fetal cardiac chambers. This article discusses the performance evaluation of automated, probability based segmentation approach, and Markov random field (MRF) for segmenting the fetal ventricular chambers of ultrasonic cineloop sequences. 837 ultrasonic biometery sequences of various gestations were collected from local diagnostic center after due ethical clearance and used for the study. In order to assess the efficiency of the segmentation technique, four metrics such as dice coefficient, true positive ratio (TPR), false positive ratio (FPR), similarity ratio (SIR), and precision (PR) were used. In order to perform ground truth validation, 56% of the data used in this study were annotated by clinical experts. The automated segmentation yielded comparable results with manual annotation. The technique results in average value of 0.68 for Dice coefficient, 0.723 for TPR, 0.604 for SIR, and 0.632 for PR.