CSZIX vs. FRESX
CSZIX (Cohen & Steers Real Estate Securities Fund Class Z) and FRESX (Fidelity Real Estate Investment Portfolio) are both REIT funds. Both are actively managed. Over the past 10 years, CSZIX returned 6.96%/yr vs 4.93%/yr for FRESX. Their 0.97 correlation means they have historically moved very closely together. CSZIX charges 0.75%/yr vs 0.64%/yr for FRESX.
Performance
CSZIX vs. FRESX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with CSZIX having a 16.37% return and FRESX slightly lower at 16.01%. Over the past 10 years, CSZIX has outperformed FRESX with an annualized return of 6.96%, while FRESX has yielded a comparatively lower 4.93% annualized return.
CSZIX
- 1D
- 0.10%
- 1M
- 1.22%
- 6M
- 15.37%
- YTD
- 16.37%
- 1Y
- 16.77%
- 3Y*
- 11.70%
- 5Y*
- 4.01%
- 10Y*
- 6.96%
- ALL TIME*
- 7.76%
FRESX
- 1D
- 0.32%
- 1M
- 1.30%
- 6M
- 13.64%
- YTD
- 16.01%
- 1Y
- 16.08%
- 3Y*
- 10.97%
- 5Y*
- 3.32%
- 10Y*
- 4.93%
- ALL TIME*
- 8.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
CSZIX vs. FRESX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSZIX Cohen & Steers Real Estate Securities Fund Class Z | 16.37% | 4.41% | 6.81% | 13.26% | -26.21% | 41.81% | -1.64% | 31.95% | -4.17% | 8.18% |
FRESX Fidelity Real Estate Investment Portfolio | 16.01% | 2.54% | 5.87% | 10.82% | -24.36% | 42.34% | -7.93% | 25.22% | -4.48% | 4.28% |
Correlation
The correlation between CSZIX and FRESX is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.97 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.97 |
The correlation between CSZIX and FRESX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
CSZIX vs. FRESX — Risk / Return Rank
CSZIX
FRESX
CSZIX vs. FRESX - 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 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.
| CSZIX | FRESX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.22 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 2.22 | +0.02 |
| Martin ratioReturn relative to average drawdown | 7.86 | 6.84 | +1.02 |
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Drawdowns
CSZIX vs. FRESX - Drawdown Comparison
The maximum CSZIX drawdown since its inception was -42.71%, smaller than the maximum FRESX drawdown of -76.34%. Use the drawdown chart below to compare losses from any high point for CSZIX and FRESX.
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Drawdown Indicators
| CSZIX | FRESX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.71% | -76.34% | +33.63% |
Max Drawdown (1Y)Largest decline over 1 year | -7.96% | -7.78% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -17.17% | -16.44% | -0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -33.05% | -32.13% | -0.92% |
Max Drawdown (10Y)Largest decline over 10 years | -42.71% | -40.93% | -1.78% |
Current DrawdownCurrent decline from peak | -2.26% | -1.60% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -8.66% | -11.08% | +2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 2.52% | -0.26% |
Volatility
CSZIX vs. FRESX - Volatility Comparison
Cohen & Steers Real Estate Securities Fund Class Z (CSZIX) and Fidelity Real Estate Investment Portfolio (FRESX) have volatilities of 4.20% and 4.28%, 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
| CSZIX | FRESX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 4.28% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 11.00% | 10.68% | +0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.91% | 13.90% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.76% | 18.82% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.87% | 20.62% | +0.25% |
CSZIX vs. FRESX - Expense Ratio Comparison
CSZIX has a 0.75% expense ratio, which is higher than FRESX's 0.64% expense ratio.
Dividends
CSZIX vs. FRESX - Dividend Comparison
CSZIX's dividend yield for the trailing twelve months is around 3.25%, less than FRESX's 4.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSZIX Cohen & Steers Real Estate Securities Fund Class Z | 3.25% | 3.81% | 2.85% | 3.00% | 7.77% | 4.38% | 5.47% | 7.70% | 3.68% | 2.60% | 5.90% | 22.32% |
FRESX Fidelity Real Estate Investment Portfolio | 4.04% | 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
With a correlation of 0.97, CSZIX 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.
FRESX has higher volatility (4.28%) compared to CSZIX (4.20%). In terms of maximum drawdown, CSZIX dropped -42.71% vs FRESX's -76.34%.
CSZIX currently has the higher Sharpe Ratio (1.29 vs 1.24), 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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