BREIX vs. FRESX
BREIX (Baron Real Estate Fund) and FRESX (Fidelity Real Estate Investment Portfolio) are both REIT funds. Over the past 10 years, BREIX returned 11.82%/yr vs 5.33%/yr for FRESX. A 0.73 correlation means they provide meaningful diversification when combined. BREIX charges 1.05%/yr vs 0.71%/yr for FRESX.
Performance
BREIX vs. FRESX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BREIX achieves a 3.45% return, which is significantly lower than FRESX's 12.74% return. Over the past 10 years, BREIX has outperformed FRESX with an annualized return of 11.82%, while FRESX has yielded a comparatively lower 5.33% annualized return.
BREIX
- 1D
- -0.54%
- 1M
- 3.81%
- YTD
- 3.45%
- 6M
- 2.21%
- 1Y
- 13.51%
- 3Y*
- 11.64%
- 5Y*
- 3.16%
- 10Y*
- 11.82%
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%
BREIX vs. FRESX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BREIX Baron Real Estate Fund | 3.45% | 5.18% | 12.46% | 25.04% | -28.45% | 24.41% | 44.35% | 44.60% | -22.05% | 31.44% |
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 BREIX and FRESX is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2009 | 0.73 |
The correlation between BREIX and FRESX has been stable across timeframes, ranging from 0.69 to 0.76 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BREIX vs. FRESX — Risk / Return Rank
BREIX
FRESX
BREIX vs. FRESX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Real Estate Fund (BREIX) 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.
| BREIX | FRESX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.16 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 1.63 | -0.40 |
| Martin ratioReturn relative to average drawdown | 3.49 | 4.67 | -1.18 |
Loading charts...
Drawdowns
BREIX vs. FRESX - Drawdown Comparison
The maximum BREIX drawdown since its inception was -38.47%, smaller than the maximum FRESX drawdown of -76.34%. Use the drawdown chart below to compare losses from any high point for BREIX and FRESX.
Loading charts...
Drawdown Indicators
| BREIX | FRESX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.47% | -76.34% | +37.87% |
Max Drawdown (1Y)Largest decline over 1 year | -12.56% | -7.78% | -4.78% |
Max Drawdown (3Y)Largest decline over 3 years | -23.91% | -16.44% | -7.47% |
Max Drawdown (5Y)Largest decline over 5 years | -33.93% | -32.13% | -1.80% |
Max Drawdown (10Y)Largest decline over 10 years | -38.47% | -40.93% | +2.46% |
Current DrawdownCurrent decline from peak | -1.89% | -1.74% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -7.54% | -11.11% | +3.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.42% | 2.71% | +1.71% |
Volatility
BREIX vs. FRESX - Volatility Comparison
Baron Real Estate Fund (BREIX) and Fidelity Real Estate Investment Portfolio (FRESX) have volatilities of 5.04% and 5.07%, 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.
Loading charts...
Volatility by Period
| BREIX | FRESX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 5.07% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 12.59% | 10.09% | +2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.03% | 13.94% | +3.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.79% | 18.77% | +2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.24% | 20.61% | +0.63% |
BREIX vs. FRESX - Expense Ratio Comparison
BREIX has a 1.05% expense ratio, which is higher than FRESX's 0.71% expense ratio.
Dividends
BREIX vs. FRESX - Dividend Comparison
BREIX's dividend yield for the trailing twelve months is around 3.67%, less than FRESX's 4.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BREIX Baron Real Estate Fund | 3.67% | 3.79% | 0.40% | 0.43% | 2.85% | 7.95% | 6.18% | 13.78% | 12.19% | 4.71% | 1.17% | 1.96% |
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
BREIX and FRESX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRESX has higher volatility (5.07%) compared to BREIX (5.04%). In terms of maximum drawdown, BREIX dropped -38.47% vs FRESX's -76.34%.
FRESX currently has the higher Sharpe Ratio (0.91 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.
Find the right allocation for BREIX and FRESX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer