CSZIX vs. FREL
Compare and contrast key facts about Cohen & Steers Real Estate Securities Fund Class Z (CSZIX) and Fidelity MSCI Real Estate Index ETF (FREL).
CSZIX is an actively managed fund by Cohen & Steers. It was launched on Oct 1, 2014. FREL is a passively managed fund by Fidelity that tracks the performance of the MSCI USA IMI Real Estate Index. It was launched on Feb 2, 2015.
Performance
CSZIX vs. FREL - Performance Comparison
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CSZIX vs. FREL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSZIX Cohen & Steers Real Estate Securities Fund Class Z | 1.50% | 4.41% | 6.81% | 13.26% | -26.21% | 41.81% | -1.64% | 31.95% | -4.17% | 8.18% |
FREL Fidelity MSCI Real Estate Index ETF | 0.98% | 3.09% | 5.05% | 11.74% | -26.21% | 40.46% | -4.99% | 28.78% | -4.52% | 8.86% |
Returns By Period
In the year-to-date period, CSZIX achieves a 1.50% return, which is significantly higher than FREL's 0.98% return. Over the past 10 years, CSZIX has outperformed FREL with an annualized return of 6.42%, while FREL has yielded a comparatively lower 5.16% annualized return.
CSZIX
- 1D
- 0.34%
- 1M
- -7.21%
- YTD
- 1.50%
- 6M
- 0.05%
- 1Y
- 2.50%
- 3Y*
- 7.70%
- 5Y*
- 4.44%
- 10Y*
- 6.42%
FREL
- 1D
- 1.43%
- 1M
- -6.56%
- YTD
- 0.98%
- 6M
- -1.57%
- 1Y
- 1.45%
- 3Y*
- 6.30%
- 5Y*
- 2.68%
- 10Y*
- 5.16%
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CSZIX vs. FREL - Expense Ratio Comparison
CSZIX has a 0.75% expense ratio, which is higher than FREL's 0.08% expense ratio.
Return for Risk
CSZIX vs. FREL — Risk / Return Rank
CSZIX
FREL
CSZIX vs. FREL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cohen & Steers Real Estate Securities Fund Class Z (CSZIX) and Fidelity MSCI Real Estate Index ETF (FREL). 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.
| CSZIX | FREL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.20 | 0.09 | +0.11 |
Sortino ratioReturn per unit of downside risk | 0.38 | 0.24 | +0.14 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.03 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.27 | 0.20 | +0.07 |
Martin ratioReturn relative to average drawdown | 1.07 | 0.77 | +0.30 |
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
| CSZIX | FREL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.20 | 0.09 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.14 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.25 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.23 | +0.10 |
Correlation
The correlation between CSZIX and FREL is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
CSZIX vs. FREL - Dividend Comparison
CSZIX's dividend yield for the trailing twelve months is around 3.10%, less than FREL's 3.56% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSZIX Cohen & Steers Real Estate Securities Fund Class Z | 3.10% | 3.81% | 2.85% | 3.00% | 7.77% | 4.38% | 5.47% | 7.70% | 3.68% | 2.60% | 5.90% | 22.32% |
FREL Fidelity MSCI Real Estate Index ETF | 3.56% | 3.59% | 3.48% | 3.73% | 3.57% | 2.34% | 3.77% | 3.32% | 5.54% | 3.27% | 4.01% | 3.80% |
Drawdowns
CSZIX vs. FREL - Drawdown Comparison
The maximum CSZIX drawdown since its inception was -42.71%, roughly equal to the maximum FREL drawdown of -42.61%. Use the drawdown chart below to compare losses from any high point for CSZIX and FREL.
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Drawdown Indicators
| CSZIX | FREL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.71% | -42.61% | -0.10% |
Max Drawdown (1Y)Largest decline over 1 year | -11.83% | -12.42% | +0.59% |
Max Drawdown (5Y)Largest decline over 5 years | -33.05% | -34.40% | +1.35% |
Max Drawdown (10Y)Largest decline over 10 years | -42.71% | -42.61% | -0.10% |
Current DrawdownCurrent decline from peak | -7.65% | -9.83% | +2.18% |
Average DrawdownAverage peak-to-trough decline | -8.89% | -10.05% | +1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 3.19% | -0.23% |
Volatility
CSZIX vs. FREL - Volatility Comparison
The current volatility for Cohen & Steers Real Estate Securities Fund Class Z (CSZIX) is 4.31%, while Fidelity MSCI Real Estate Index ETF (FREL) has a volatility of 4.55%. This indicates that CSZIX experiences smaller price fluctuations and is considered to be less risky than FREL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSZIX | FREL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.31% | 4.55% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 9.44% | 9.29% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.96% | 16.41% | -0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.67% | 18.85% | -0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.79% | 20.67% | +0.12% |