FIRIX vs. VGSNX

Last updated Jun 4, 2026

FIRIX (Fidelity Advisor International Real Estate Fund Class I) and VGSNX (Vanguard Real Estate Index Fund Institutional Shares) are both REIT funds. Over the past 10 years, FIRIX returned 3.50%/yr vs 5.22%/yr for VGSNX. A 0.53 correlation means they provide meaningful diversification when combined. FIRIX charges 0.92%/yr vs 0.10%/yr for VGSNX.

Performance

FIRIX vs. VGSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Real Estate Fund Class I (FIRIX) and Vanguard Real Estate Index Fund Institutional Shares (VGSNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIRIX achieves a -3.13% return, which is significantly lower than VGSNX's 7.95% return. Over the past 10 years, FIRIX has underperformed VGSNX with an annualized return of 3.50%, while VGSNX has yielded a comparatively higher 5.22% annualized return.

FIRIX

• 1D: -0.29%
• 1M: -3.23%
• YTD: -3.13%
• 6M: -1.61%
• 1Y: 4.47%
• 3Y*: 3.80%
• 5Y*: -3.19%
• 10Y*: 3.50%

VGSNX

• 1D: 0.44%
• 1M: -0.96%
• YTD: 7.95%
• 6M: 6.90%
• 1Y: 10.16%
• 3Y*: 9.20%
• 5Y*: 2.22%
• 10Y*: 5.22%

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

FIRIX vs. VGSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIRIX Fidelity Advisor International Real Estate Fund Class I	-3.13%	22.73%	-9.43%	4.07%	-26.55%	11.87%	5.82%	28.09%	-6.12%	26.95%
VGSNX Vanguard Real Estate Index Fund Institutional Shares	7.95%	3.21%	3.72%	13.12%	-26.19%	40.46%	-4.76%	28.98%	-5.97%	4.90%

Correlation

The correlation between FIRIX and VGSNX is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Mar 2, 2006	0.53

The correlation between FIRIX and VGSNX has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.

Return for Risk

FIRIX vs. VGSNX — Risk / Return Rank

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

FIRIX

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

VGSNX

VGSNX Risk / Return Rank: 10
VGSNX Sharpe Ratio Rank: 9
VGSNX Sortino Ratio Rank: 9
VGSNX Omega Ratio Rank: 9
VGSNX Calmar Ratio Rank: 12
VGSNX Martin Ratio Rank: 13

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.

FIRIX vs. VGSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Real Estate Fund Class I (FIRIX) and Vanguard Real Estate Index Fund Institutional Shares (VGSNX). 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.

	FIRIX	VGSNX	Difference
Sharpe ratio: Return per unit of total volatility	0.30	0.75	-0.45
Sortino ratio: Return per unit of downside risk	0.52	1.11	-0.59
Omega ratio: Gain probability vs. loss probability	1.06	1.14	-0.07
Calmar ratio: Return relative to maximum drawdown	0.26	1.19	-0.93
Martin ratio: Return relative to average drawdown	0.73	3.75	-3.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIRIX vs. VGSNX - Sharpe Ratio Comparison

The current FIRIX Sharpe Ratio is 0.30, which is lower than the VGSNX Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of FIRIX and VGSNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FIRIX	VGSNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.30	0.75	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.23	0.12	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	0.25	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.28	-0.15

Drawdowns

FIRIX vs. VGSNX - Drawdown Comparison

The maximum FIRIX drawdown since its inception was -71.41%, roughly equal to the maximum VGSNX drawdown of -73.06%. Use the drawdown chart below to compare losses from any high point for FIRIX and VGSNX.

Drawdown Indicators

	FIRIX	VGSNX	Difference
Max Drawdown Largest peak-to-trough decline	-71.41%	-73.06%	+1.65%
Max Drawdown (1Y) Largest decline over 1 year	-13.82%	-8.34%	-5.48%
Max Drawdown (3Y) Largest decline over 3 years	-18.13%	-17.41%	-0.72%
Max Drawdown (5Y) Largest decline over 5 years	-37.07%	-34.39%	-2.68%
Max Drawdown (10Y) Largest decline over 10 years	-37.07%	-42.30%	+5.23%
Current Drawdown Current decline from peak	-19.99%	-3.52%	-16.47%
Average Drawdown Average peak-to-trough decline	-19.98%	-13.29%	-6.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.03%	2.64%	+2.39%

Volatility

FIRIX vs. VGSNX - Volatility Comparison

The current volatility for Fidelity Advisor International Real Estate Fund Class I (FIRIX) is 3.53%, while Vanguard Real Estate Index Fund Institutional Shares (VGSNX) has a volatility of 3.75%. This indicates that FIRIX experiences smaller price fluctuations and is considered to be less risky than VGSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIRIX	VGSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	3.75%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	9.76%	9.32%	+0.44%
Volatility (1Y) Calculated over the trailing 1-year period	12.07%	13.16%	-1.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.72%	18.87%	-5.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.76%	20.91%	-7.15%

FIRIX vs. VGSNX - Expense Ratio Comparison

FIRIX has a 0.92% expense ratio, which is higher than VGSNX's 0.10% expense ratio.

Dividends

FIRIX vs. VGSNX - Dividend Comparison

FIRIX's dividend yield for the trailing twelve months is around 3.09%, less than VGSNX's 3.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIRIX Fidelity Advisor International Real Estate Fund Class I	3.09%	2.99%	5.16%	1.90%	4.41%	5.49%	1.84%	5.15%	2.10%	3.41%	4.27%	3.09%
VGSNX Vanguard Real Estate Index Fund Institutional Shares	3.71%	3.94%	3.87%	3.93%	3.94%	2.57%	3.95%	3.40%	4.75%	4.26%	4.84%	3.94%

Frequently Asked Questions

Can I hold both FIRIX and VGSNX in my portfolio?

FIRIX and VGSNX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIRIX or VGSNX?

VGSNX has higher volatility (3.75%) compared to FIRIX (3.53%). In terms of maximum drawdown, FIRIX dropped -71.41% vs VGSNX's -73.06%.

Which has better risk-adjusted returns?

VGSNX currently has the higher Sharpe Ratio (0.75 vs 0.30), 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.