BIRDX vs. FIREX
BIRDX (iShares Developed Real Estate Index Fund) and FIREX (Fidelity International Real Estate Fund) are both REIT funds. Over the past 10 years, BIRDX returned 3.67%/yr vs 3.14%/yr for FIREX. A 0.71 correlation means they provide meaningful diversification when combined. BIRDX charges 0.19%/yr vs 0.95%/yr for FIREX.
Performance
BIRDX vs. FIREX - Performance Comparison
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Returns By Period
In the year-to-date period, BIRDX achieves a 7.89% return, which is significantly higher than FIREX's -4.06% return. Over the past 10 years, BIRDX has outperformed FIREX with an annualized return of 3.67%, while FIREX has yielded a comparatively lower 3.14% annualized return.
BIRDX
- 1D
- 0.92%
- 1M
- -3.00%
- YTD
- 7.89%
- 6M
- 8.25%
- 1Y
- 12.77%
- 3Y*
- 9.85%
- 5Y*
- 1.65%
- 10Y*
- 3.67%
FIREX
- 1D
- 0.30%
- 1M
- -5.93%
- YTD
- -4.06%
- 6M
- -1.72%
- 1Y
- 3.01%
- 3Y*
- 3.44%
- 5Y*
- -3.56%
- 10Y*
- 3.14%
BIRDX vs. FIREX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIRDX iShares Developed Real Estate Index Fund | 7.89% | 10.27% | 1.49% | 10.38% | -24.68% | 26.90% | -8.24% | 22.33% | -4.80% | 7.56% |
FIREX Fidelity International Real Estate Fund | -4.06% | 22.85% | -9.46% | 4.01% | -26.61% | 11.85% | 5.71% | 27.96% | -6.15% | 24.61% |
Correlation
The correlation between BIRDX and FIREX is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.71 |
The correlation between BIRDX and FIREX has been stable across timeframes, ranging from 0.69 to 0.73 - a consistent structural relationship.
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Return for Risk
BIRDX vs. FIREX — Risk / Return Rank
BIRDX
FIREX
BIRDX vs. FIREX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Developed Real Estate Index Fund (BIRDX) and Fidelity International Real Estate Fund (FIREX). 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.
| BIRDX | FIREX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.05 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 0.22 | +1.04 |
| Martin ratioReturn relative to average drawdown | 4.71 | 0.59 | +4.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BIRDX | FIREX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 0.25 | +0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | -0.26 | +0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.23 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.25 | -0.02 |
Drawdowns
BIRDX vs. FIREX - Drawdown Comparison
The maximum BIRDX drawdown since its inception was -43.03%, smaller than the maximum FIREX drawdown of -71.40%. Use the drawdown chart below to compare losses from any high point for BIRDX and FIREX.
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Drawdown Indicators
| BIRDX | FIREX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.03% | -71.40% | +28.37% |
Max Drawdown (1Y)Largest decline over 1 year | -10.04% | -13.75% | +3.71% |
Max Drawdown (3Y)Largest decline over 3 years | -27.40% | -18.06% | -9.34% |
Max Drawdown (5Y)Largest decline over 5 years | -32.54% | -37.14% | +4.60% |
Max Drawdown (10Y)Largest decline over 10 years | -43.03% | -37.14% | -5.89% |
Current DrawdownCurrent decline from peak | -5.78% | -20.81% | +15.03% |
Average DrawdownAverage peak-to-trough decline | -10.85% | -18.73% | +7.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 5.14% | -2.45% |
Volatility
BIRDX vs. FIREX - Volatility Comparison
iShares Developed Real Estate Index Fund (BIRDX) and Fidelity International Real Estate Fund (FIREX) have volatilities of 3.73% and 3.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIRDX | FIREX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.73% | 3.69% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 8.96% | 9.85% | -0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.89% | 12.09% | -0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.28% | 13.70% | +5.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.09% | 13.77% | +5.32% |
BIRDX vs. FIREX - Expense Ratio Comparison
BIRDX has a 0.19% expense ratio, which is lower than FIREX's 0.95% expense ratio.
Dividends
BIRDX vs. FIREX - Dividend Comparison
BIRDX's dividend yield for the trailing twelve months is around 6.59%, more than FIREX's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIRDX iShares Developed Real Estate Index Fund | 6.59% | 6.84% | 23.69% | 2.99% | 1.24% | 4.18% | 1.91% | 6.67% | 4.18% | 1.70% | 2.24% | 0.00% |
FIREX Fidelity International Real Estate Fund | 3.09% | 2.97% | 5.27% | 1.86% | 4.44% | 5.44% | 1.77% | 5.10% | 2.01% | 1.46% | 4.14% | 2.87% |
Frequently Asked Questions
BIRDX and FIREX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIRDX has higher volatility (3.73%) compared to FIREX (3.69%). In terms of maximum drawdown, BIRDX dropped -43.03% vs FIREX's -71.40%.
BIRDX currently has the higher Sharpe Ratio (1.07 vs 0.25), 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.
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