CREEX vs. FRIRX

Last updated Jun 23, 2026

CREEX (Columbia Real Estate Equity Fund) and FRIRX (Fidelity Advisor Real Estate Income Fund Class I) are both REIT funds. Over the past 10 years, CREEX returned 5.97%/yr vs 5.31%/yr for FRIRX. Their correlation of 0.89 suggests significant overlap in exposure. CREEX charges 1.01%/yr vs 0.71%/yr for FRIRX.

Performance

CREEX vs. FRIRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Real Estate Equity Fund (CREEX) and Fidelity Advisor Real Estate Income Fund Class I (FRIRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CREEX achieves a 14.21% return, which is significantly higher than FRIRX's 3.81% return. Over the past 10 years, CREEX has outperformed FRIRX with an annualized return of 5.97%, while FRIRX has yielded a comparatively lower 5.31% annualized return.

CREEX

• 1D: 0.47%
• 1M: -0.75%
• YTD: 14.21%
• 6M: 14.21%
• 1Y: 14.94%
• 3Y*: 9.91%
• 5Y*: 5.14%
• 10Y*: 5.97%

FRIRX

• 1D: 0.00%
• 1M: -0.00%
• YTD: 3.81%
• 6M: 4.15%
• 1Y: 7.72%
• 3Y*: 8.31%
• 5Y*: 3.54%
• 10Y*: 5.31%

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

CREEX vs. FRIRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CREEX Columbia Real Estate Equity Fund	14.21%	0.19%	7.40%	16.20%	-25.10%	41.91%	-3.54%	28.40%	-7.21%	4.56%
FRIRX Fidelity Advisor Real Estate Income Fund Class I	3.81%	7.10%	7.89%	9.36%	-14.59%	18.98%	-1.08%	17.89%	-1.81%	6.23%

Correlation

The correlation between CREEX and FRIRX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Apr 20, 2010	0.89

The correlation between CREEX and FRIRX has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.

Return for Risk

CREEX vs. FRIRX — Risk / Return Rank

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

CREEX

CREEX Risk / Return Rank: 19
CREEX Sharpe Ratio Rank: 15
CREEX Sortino Ratio Rank: 14
CREEX Omega Ratio Rank: 14
CREEX Calmar Ratio Rank: 28
CREEX Martin Ratio Rank: 25

FRIRX

FRIRX Risk / Return Rank: 48
FRIRX Sharpe Ratio Rank: 47
FRIRX Sortino Ratio Rank: 49
FRIRX Omega Ratio Rank: 51
FRIRX Calmar Ratio Rank: 39
FRIRX Martin Ratio Rank: 51

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.

CREEX vs. FRIRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Real Estate Equity Fund (CREEX) and Fidelity Advisor Real Estate Income Fund Class I (FRIRX). 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.

	CREEX	FRIRX	Difference
Sharpe ratio: Return per unit of total volatility	1.04	1.88	-0.84
Sortino ratio: Return per unit of downside risk	1.46	2.70	-1.24
Omega ratio: Gain probability vs. loss probability	1.18	1.36	-0.18
Calmar ratio: Return relative to maximum drawdown	1.85	2.28	-0.44
Martin ratio: Return relative to average drawdown	5.50	9.92	-4.42

CREEX vs. FRIRX - Sharpe Ratio Comparison

The current CREEX Sharpe Ratio is 1.04, which is lower than the FRIRX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of CREEX and FRIRX, 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

CREEX vs. FRIRX - Drawdown Comparison

The maximum CREEX drawdown since its inception was -70.78%, which is greater than FRIRX's maximum drawdown of -34.50%. Use the drawdown chart below to compare losses from any high point for CREEX and FRIRX.

Drawdown Indicators

	CREEX	FRIRX	Difference
Max Drawdown Largest peak-to-trough decline	-70.78%	-34.50%	-36.28%
Max Drawdown (1Y) Largest decline over 1 year	-7.94%	-3.43%	-4.51%
Max Drawdown (3Y) Largest decline over 3 years	-19.89%	-7.28%	-12.61%
Max Drawdown (5Y) Largest decline over 5 years	-31.25%	-18.18%	-13.07%
Max Drawdown (10Y) Largest decline over 10 years	-41.42%	-34.50%	-6.92%
Current Drawdown Current decline from peak	-2.30%	-0.72%	-1.58%
Average Drawdown Average peak-to-trough decline	-10.70%	-3.26%	-7.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	0.79%	+1.87%

Volatility

CREEX vs. FRIRX - Volatility Comparison

Columbia Real Estate Equity Fund (CREEX) has a higher volatility of 4.98% compared to Fidelity Advisor Real Estate Income Fund Class I (FRIRX) at 1.40%. This indicates that CREEX's price experiences larger fluctuations and is considered to be riskier than FRIRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CREEX	FRIRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	1.40%	+3.58%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	3.30%	+6.75%
Volatility (1Y) Calculated over the trailing 1-year period	14.15%	4.18%	+9.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.07%	6.51%	+12.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.69%	9.50%	+11.19%

CREEX vs. FRIRX - Expense Ratio Comparison

CREEX has a 1.01% expense ratio, which is higher than FRIRX's 0.71% expense ratio.

Dividends

CREEX vs. FRIRX - Dividend Comparison

CREEX's dividend yield for the trailing twelve months is around 3.81%, less than FRIRX's 4.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CREEX Columbia Real Estate Equity Fund	3.81%	6.26%	10.13%	32.32%	5.92%	6.41%	7.50%	12.02%	8.22%	14.73%	4.23%	8.59%
FRIRX Fidelity Advisor Real Estate Income Fund Class I	4.48%	4.62%	4.68%	5.01%	6.08%	1.48%	4.80%	5.70%	5.10%	4.43%	5.05%	3.69%

Frequently Asked Questions

Can I hold both CREEX and FRIRX in my portfolio?

CREEX and FRIRX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CREEX or FRIRX?

CREEX has higher volatility (4.98%) compared to FRIRX (1.40%). In terms of maximum drawdown, CREEX dropped -70.78% vs FRIRX's -34.50%.

Which has better risk-adjusted returns?

FRIRX currently has the higher Sharpe Ratio (1.88 vs 1.04), 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.