ARYVX vs. FRESX

Last updated Jun 24, 2026

ARYVX (American Century Global Real Estate Fund) and FRESX (Fidelity Real Estate Investment Portfolio) are both REIT funds. Over the past 10 years, ARYVX returned 6.41%/yr vs 5.33%/yr for FRESX. Their correlation of 0.89 suggests significant overlap in exposure. ARYVX charges 1.11%/yr vs 0.71%/yr for FRESX.

Performance

ARYVX vs. FRESX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Global Real Estate Fund (ARYVX) and Fidelity Real Estate Investment Portfolio (FRESX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARYVX achieves a 9.65% return, which is significantly lower than FRESX's 12.74% return. Over the past 10 years, ARYVX has outperformed FRESX with an annualized return of 6.41%, while FRESX has yielded a comparatively lower 5.33% annualized return.

ARYVX

• 1D: 1.03%
• 1M: -0.27%
• YTD: 9.65%
• 6M: 9.57%
• 1Y: 12.79%
• 3Y*: 12.74%
• 5Y*: 3.33%
• 10Y*: 6.41%

FRESX

• 1D: 1.19%
• 1M: 0.19%
• YTD: 12.74%
• 6M: 13.25%
• 1Y: 11.00%
• 3Y*: 11.14%
• 5Y*: 3.52%
• 10Y*: 5.33%

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

ARYVX vs. FRESX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARYVX American Century Global Real Estate Fund	9.65%	6.61%	7.05%	12.38%	-26.06%	32.97%	-0.66%	29.88%	-6.53%	14.38%
FRESX Fidelity Real Estate Investment Portfolio	12.74%	2.54%	5.87%	10.82%	-24.36%	42.34%	-7.93%	25.22%	-4.48%	4.28%

Correlation

The correlation between ARYVX and FRESX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Apr 29, 2011	0.89

The correlation between ARYVX and FRESX has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.

Return for Risk

ARYVX vs. FRESX — Risk / Return Rank

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

ARYVX

ARYVX Risk / Return Rank: 20
ARYVX Sharpe Ratio Rank: 19
ARYVX Sortino Ratio Rank: 17
ARYVX Omega Ratio Rank: 18
ARYVX Calmar Ratio Rank: 20
ARYVX Martin Ratio Rank: 24

FRESX

FRESX Risk / Return Rank: 16
FRESX Sharpe Ratio Rank: 13
FRESX Sortino Ratio Rank: 12
FRESX Omega Ratio Rank: 12
FRESX Calmar Ratio Rank: 22
FRESX Martin Ratio Rank: 20

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.

ARYVX vs. FRESX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Global Real Estate Fund (ARYVX) and Fidelity Real Estate Investment Portfolio (FRESX). 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.

	ARYVX	FRESX	Difference
Sharpe ratio: Return per unit of total volatility	1.14	0.91	+0.22
Sortino ratio: Return per unit of downside risk	1.59	1.33	+0.27
Omega ratio: Gain probability vs. loss probability	1.21	1.16	+0.04
Calmar ratio: Return relative to maximum drawdown	1.49	1.63	-0.14
Martin ratio: Return relative to average drawdown	5.47	4.67	+0.80

ARYVX vs. FRESX - Sharpe Ratio Comparison

The current ARYVX Sharpe Ratio is 1.14, which is comparable to the FRESX Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of ARYVX and FRESX, 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

ARYVX vs. FRESX - Drawdown Comparison

The maximum ARYVX drawdown since its inception was -39.31%, smaller than the maximum FRESX drawdown of -76.34%. Use the drawdown chart below to compare losses from any high point for ARYVX and FRESX.

Drawdown Indicators

	ARYVX	FRESX	Difference
Max Drawdown Largest peak-to-trough decline	-39.31%	-76.34%	+37.03%
Max Drawdown (1Y) Largest decline over 1 year	-9.42%	-7.78%	-1.64%
Max Drawdown (3Y) Largest decline over 3 years	-17.19%	-16.44%	-0.75%
Max Drawdown (5Y) Largest decline over 5 years	-33.69%	-32.13%	-1.56%
Max Drawdown (10Y) Largest decline over 10 years	-39.31%	-40.93%	+1.62%
Current Drawdown Current decline from peak	-1.74%	-1.74%	0.00%
Average Drawdown Average peak-to-trough decline	-8.08%	-11.11%	+3.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	2.71%	-0.15%

Volatility

ARYVX vs. FRESX - Volatility Comparison

The current volatility for American Century Global Real Estate Fund (ARYVX) is 4.33%, while Fidelity Real Estate Investment Portfolio (FRESX) has a volatility of 5.07%. This indicates that ARYVX experiences smaller price fluctuations and is considered to be less risky than FRESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARYVX	FRESX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	5.07%	-0.74%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	10.09%	-0.78%
Volatility (1Y) Calculated over the trailing 1-year period	12.38%	13.94%	-1.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.70%	18.77%	-2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.53%	20.61%	-3.08%

ARYVX vs. FRESX - Expense Ratio Comparison

ARYVX has a 1.11% expense ratio, which is higher than FRESX's 0.71% expense ratio.

Dividends

ARYVX vs. FRESX - Dividend Comparison

ARYVX's dividend yield for the trailing twelve months is around 2.77%, less than FRESX's 4.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARYVX American Century Global Real Estate Fund	2.77%	3.03%	2.14%	2.49%	7.05%	7.85%	0.99%	4.37%	3.97%	3.40%	4.48%	2.98%
FRESX Fidelity Real Estate Investment Portfolio	4.16%	4.64%	5.58%	6.95%	10.16%	3.70%	4.77%	6.91%	4.23%	4.00%	4.90%	6.09%

Frequently Asked Questions

Can I hold both ARYVX and FRESX in my portfolio?

With a correlation of 0.90, ARYVX and FRESX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ARYVX or FRESX?

FRESX has higher volatility (5.07%) compared to ARYVX (4.33%). In terms of maximum drawdown, ARYVX dropped -39.31% vs FRESX's -76.34%.

Which has better risk-adjusted returns?

ARYVX currently has the higher Sharpe Ratio (1.14 vs 0.91), 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.