AGREX vs. FESIX

Last updated Jun 23, 2026

AGREX (Invesco Global Real Estate Fund) and FESIX (Fidelity SAI Real Estate Index Fund) are both REIT funds. Over the past 5 years, AGREX returned -0.55%/yr vs 2.37%/yr for FESIX. Their correlation of 0.90 suggests significant overlap in exposure. AGREX charges 1.38%/yr vs 0.07%/yr for FESIX.

Performance

AGREX vs. FESIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Global Real Estate Fund (AGREX) and Fidelity SAI Real Estate Index Fund (FESIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGREX achieves a 6.91% return, which is significantly lower than FESIX's 8.73% return.

AGREX

• 1D: 0.00%
• 1M: -1.97%
• YTD: 6.91%
• 6M: 7.37%
• 1Y: 9.04%
• 3Y*: 6.45%
• 5Y*: -0.55%
• 10Y*: 2.17%

FESIX

• 1D: 0.00%
• 1M: -1.24%
• YTD: 8.73%
• 6M: 9.16%
• 1Y: 10.17%
• 3Y*: 8.46%
• 5Y*: 2.37%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AGREX vs. FESIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AGREX Invesco Global Real Estate Fund	6.91%	7.44%	-1.78%	8.61%	-25.24%	25.26%	-12.46%	19.31%	-6.19%	12.67%
FESIX Fidelity SAI Real Estate Index Fund	8.73%	3.09%	4.80%	11.83%	-26.47%	40.61%	-11.10%	23.06%	-4.95%	2.81%

Correlation

The correlation between AGREX and FESIX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.90

The correlation between AGREX and FESIX has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

Return for Risk

AGREX vs. FESIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AGREX

AGREX Risk / Return Rank: 10
AGREX Sharpe Ratio Rank: 10
AGREX Sortino Ratio Rank: 9
AGREX Omega Ratio Rank: 10
AGREX Calmar Ratio Rank: 9
AGREX Martin Ratio Rank: 12

FESIX

FESIX Risk / Return Rank: 11
FESIX Sharpe Ratio Rank: 9
FESIX Sortino Ratio Rank: 9
FESIX Omega Ratio Rank: 9
FESIX Calmar Ratio Rank: 14
FESIX Martin Ratio Rank: 14

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AGREX vs. FESIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Global Real Estate Fund (AGREX) and Fidelity SAI Real Estate Index Fund (FESIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AGREX	FESIX	Difference
Sharpe ratio: Return per unit of total volatility	0.76	0.74	+0.02
Sortino ratio: Return per unit of downside risk	1.11	1.09	+0.01
Omega ratio: Gain probability vs. loss probability	1.14	1.14	0.00
Calmar ratio: Return relative to maximum drawdown	0.89	1.22	-0.33
Martin ratio: Return relative to average drawdown	3.24	3.76	-0.52

AGREX vs. FESIX - Sharpe Ratio Comparison

The current AGREX Sharpe Ratio is 0.76, which is comparable to the FESIX Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of AGREX and FESIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AGREX vs. FESIX - Drawdown Comparison

The maximum AGREX drawdown since its inception was -69.30%, which is greater than FESIX's maximum drawdown of -44.22%. Use the drawdown chart below to compare losses from any high point for AGREX and FESIX.

Drawdown Indicators

	AGREX	FESIX	Difference
Max Drawdown Largest peak-to-trough decline	-69.30%	-44.22%	-25.08%
Max Drawdown (1Y) Largest decline over 1 year	-10.39%	-8.42%	-1.97%
Max Drawdown (3Y) Largest decline over 3 years	-18.43%	-17.48%	-0.95%
Max Drawdown (5Y) Largest decline over 5 years	-33.48%	-34.51%	+1.03%
Max Drawdown (10Y) Largest decline over 10 years	-43.39%	—	—
Current Drawdown Current decline from peak	-8.39%	-3.41%	-4.98%
Average Drawdown Average peak-to-trough decline	-16.00%	-11.34%	-4.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	2.71%	+0.13%

Volatility

AGREX vs. FESIX - Volatility Comparison

The current volatility for Invesco Global Real Estate Fund (AGREX) is 3.44%, while Fidelity SAI Real Estate Index Fund (FESIX) has a volatility of 5.18%. This indicates that AGREX experiences smaller price fluctuations and is considered to be less risky than FESIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGREX	FESIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.44%	5.18%	-1.74%
Volatility (6M) Calculated over the trailing 6-month period	9.19%	10.19%	-1.00%
Volatility (1Y) Calculated over the trailing 1-year period	12.13%	13.78%	-1.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.36%	18.99%	-2.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.71%	21.73%	-4.02%

AGREX vs. FESIX - Expense Ratio Comparison

AGREX has a 1.38% expense ratio, which is higher than FESIX's 0.07% expense ratio.

Dividends

AGREX vs. FESIX - Dividend Comparison

AGREX's dividend yield for the trailing twelve months is around 3.85%, more than FESIX's 2.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGREX Invesco Global Real Estate Fund	3.85%	2.33%	1.87%	1.81%	13.06%	2.39%	4.68%	8.59%	11.43%	2.67%	3.84%	1.81%
FESIX Fidelity SAI Real Estate Index Fund	2.91%	3.09%	52.40%	3.87%	55.39%	5.01%	2.71%	3.78%	3.15%	2.21%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AGREX and FESIX in my portfolio?

AGREX and FESIX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGREX or FESIX?

FESIX has higher volatility (5.18%) compared to AGREX (3.44%). In terms of maximum drawdown, AGREX dropped -69.30% vs FESIX's -44.22%.

Which has better risk-adjusted returns?

AGREX currently has the higher Sharpe Ratio (0.76 vs 0.74), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.