FHEAX vs. GRIFX

Last updated Jun 24, 2026

FHEAX (Fidelity Advisor Real Estate Fund Class A) and GRIFX (Apollo Diversified Real Estate Fund Class I) are both REIT funds. Their correlation of 0.86 suggests significant overlap in exposure. FHEAX charges 1.07%/yr vs 2.23%/yr for GRIFX.

Performance

FHEAX vs. GRIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Real Estate Fund Class A (FHEAX) and Apollo Diversified Real Estate Fund Class I (GRIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FHEAX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GRIFX

• 1D: 0.08%
• 1M: -0.07%
• YTD: 3.74%
• 6M: 3.83%
• 1Y: 4.19%
• 3Y*: 3.00%
• 5Y*: 3.47%
• 10Y*: 4.49%

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

FHEAX vs. GRIFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHEAX Fidelity Advisor Real Estate Fund Class A	2.72%	-9.44%	-1.36%	10.81%	-28.13%	38.51%	-6.96%	22.77%	-6.67%	3.63%
GRIFX Apollo Diversified Real Estate Fund Class I	3.74%	1.14%	3.78%	-3.05%	-1.17%	22.08%	-2.69%	8.38%	4.97%	6.73%

Correlation

The correlation between FHEAX and GRIFX 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	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Aug 7, 2015	0.86

The correlation between FHEAX and GRIFX shifts across timeframes, from 0.69 (1 year) to 0.89 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FHEAX vs. GRIFX — Risk / Return Rank

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

FHEAX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

GRIFX

GRIFX Risk / Return Rank: 30
GRIFX Sharpe Ratio Rank: 22
GRIFX Sortino Ratio Rank: 21
GRIFX Omega Ratio Rank: 21
GRIFX Calmar Ratio Rank: 55
GRIFX Martin Ratio Rank: 31

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.

FHEAX vs. GRIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Real Estate Fund Class A (FHEAX) and Apollo Diversified Real Estate Fund Class I (GRIFX). 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.

	FHEAX	GRIFX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.24	—
Sortino ratio: Return per unit of downside risk	—	1.77	—
Omega ratio: Gain probability vs. loss probability	—	1.22	—
Calmar ratio: Return relative to maximum drawdown	—	2.70	—
Martin ratio: Return relative to average drawdown	—	6.64	—

Drawdowns

Drawdown Indicators

	FHEAX	GRIFX	Difference
Max Drawdown Largest peak-to-trough decline	—	-14.29%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-1.70%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.28%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.29%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-14.29%	—
Current Drawdown Current decline from peak	—	-2.12%	—
Average Drawdown Average peak-to-trough decline	—	-3.36%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.69%	—

Volatility

Volatility by Period

	FHEAX	GRIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.17%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.68%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.71%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	5.51%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.62%	—

FHEAX vs. GRIFX - Expense Ratio Comparison

FHEAX has a 1.07% expense ratio, which is lower than GRIFX's 2.23% expense ratio.

Dividends

FHEAX vs. GRIFX - Dividend Comparison

FHEAX's dividend yield for the trailing twelve months is around 0.60%, less than GRIFX's 7.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHEAX Fidelity Advisor Real Estate Fund Class A	0.60%	0.94%	0.81%	2.14%	18.65%	5.73%	3.75%	8.35%	6.13%	6.59%	6.90%	3.50%
GRIFX Apollo Diversified Real Estate Fund Class I	7.81%	5.37%	5.27%	5.46%	4.14%	3.67%	5.26%	5.27%	5.29%	5.22%	5.27%	2.62%

Frequently Asked Questions

Can I hold both FHEAX and GRIFX in my portfolio?

FHEAX and GRIFX 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.