FIKLX vs. SETAX

Last updated Jun 26, 2026

FIKLX (Fidelity Advisor International Real Estate Fund Class Z) and SETAX (SEI Institutional Managed Trust Real Estate Fund) are both REIT funds. Over the past 5 years, FIKLX returned -3.45%/yr vs 5.17%/yr for SETAX. A 0.53 correlation means they provide meaningful diversification when combined. FIKLX charges 0.79%/yr vs 1.14%/yr for SETAX.

Performance

FIKLX vs. SETAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Real Estate Fund Class Z (FIKLX) and SEI Institutional Managed Trust Real Estate Fund (SETAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIKLX achieves a -3.71% return, which is significantly lower than SETAX's 14.94% return.

FIKLX

• 1D: 1.20%
• 1M: -2.03%
• YTD: -3.71%
• 6M: -3.53%
• 1Y: 2.23%
• 3Y*: 4.69%
• 5Y*: -3.45%
• 10Y*: —

SETAX

• 1D: 0.00%
• 1M: 1.03%
• YTD: 14.94%
• 6M: 14.62%
• 1Y: 16.61%
• 3Y*: 14.23%
• 5Y*: 5.17%
• 10Y*: 6.74%

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

FIKLX vs. SETAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIKLX Fidelity Advisor International Real Estate Fund Class Z	-3.71%	22.93%	-9.39%	4.32%	-26.54%	12.03%	5.85%	28.22%	-2.29%
SETAX SEI Institutional Managed Trust Real Estate Fund	14.94%	1.90%	10.63%	15.75%	-25.85%	44.05%	-3.51%	25.14%	-4.12%

Correlation

The correlation between FIKLX and SETAX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	0.53

The correlation between FIKLX and SETAX has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.

Return for Risk

FIKLX vs. SETAX — Risk / Return Rank

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

FIKLX

FIKLX Risk / Return Rank: 5
FIKLX Sharpe Ratio Rank: 5
FIKLX Sortino Ratio Rank: 5
FIKLX Omega Ratio Rank: 5
FIKLX Calmar Ratio Rank: 4
FIKLX Martin Ratio Rank: 4

SETAX

SETAX Risk / Return Rank: 23
SETAX Sharpe Ratio Rank: 20
SETAX Sortino Ratio Rank: 18
SETAX Omega Ratio Rank: 19
SETAX Calmar Ratio Rank: 32
SETAX Martin Ratio Rank: 28

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.

FIKLX vs. SETAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Real Estate Fund Class Z (FIKLX) and SEI Institutional Managed Trust Real Estate Fund (SETAX). 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.

	FIKLX	SETAX	Difference
Sharpe ratio: Return per unit of total volatility	0.16	1.02	-0.86
Sortino ratio: Return per unit of downside risk	0.32	1.45	-1.13
Omega ratio: Gain probability vs. loss probability	1.04	1.18	-0.15
Calmar ratio: Return relative to maximum drawdown	0.14	1.77	-1.64
Martin ratio: Return relative to average drawdown	0.33	5.37	-5.04

FIKLX vs. SETAX - Sharpe Ratio Comparison

The current FIKLX Sharpe Ratio is 0.16, which is lower than the SETAX Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of FIKLX and SETAX, 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

FIKLX vs. SETAX - Drawdown Comparison

The maximum FIKLX drawdown since its inception was -36.93%, smaller than the maximum SETAX drawdown of -75.06%. Use the drawdown chart below to compare losses from any high point for FIKLX and SETAX.

Drawdown Indicators

	FIKLX	SETAX	Difference
Max Drawdown Largest peak-to-trough decline	-36.93%	-75.06%	+38.13%
Max Drawdown (1Y) Largest decline over 1 year	-14.03%	-7.80%	-6.23%
Max Drawdown (3Y) Largest decline over 3 years	-18.09%	-16.95%	-1.14%
Max Drawdown (5Y) Largest decline over 5 years	-36.93%	-32.26%	-4.67%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.32%	—
Current Drawdown Current decline from peak	-20.06%	-0.42%	-19.64%
Average Drawdown Average peak-to-trough decline	-15.75%	-13.91%	-1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.89%	2.60%	+3.29%

Volatility

FIKLX vs. SETAX - Volatility Comparison

The current volatility for Fidelity Advisor International Real Estate Fund Class Z (FIKLX) is 3.59%, while SEI Institutional Managed Trust Real Estate Fund (SETAX) has a volatility of 5.21%. This indicates that FIKLX experiences smaller price fluctuations and is considered to be less risky than SETAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIKLX	SETAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	5.21%	-1.62%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	10.16%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	12.20%	13.58%	-1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.71%	19.22%	-5.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.72%	21.16%	-6.44%

FIKLX vs. SETAX - Expense Ratio Comparison

FIKLX has a 0.79% expense ratio, which is lower than SETAX's 1.14% expense ratio.

Dividends

FIKLX vs. SETAX - Dividend Comparison

FIKLX's dividend yield for the trailing twelve months is around 3.21%, less than SETAX's 10.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIKLX Fidelity Advisor International Real Estate Fund Class Z	3.21%	3.10%	5.24%	2.12%	4.60%	5.63%	1.94%	5.41%	0.00%	0.00%	0.00%	0.00%
SETAX SEI Institutional Managed Trust Real Estate Fund	10.32%	11.86%	5.19%	2.10%	5.36%	6.86%	6.34%	8.59%	17.07%	8.65%	13.65%	5.99%

Frequently Asked Questions

Can I hold both FIKLX and SETAX in my portfolio?

FIKLX and SETAX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIKLX or SETAX?

SETAX has higher volatility (5.21%) compared to FIKLX (3.59%). In terms of maximum drawdown, FIKLX dropped -36.93% vs SETAX's -75.06%.

Which has better risk-adjusted returns?

SETAX currently has the higher Sharpe Ratio (1.02 vs 0.16), 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.