FPRO vs. XLRI
FPRO (Fidelity Real Estate Investment ETF) and XLRI (State Street Real Estate Select Sector SPDR Premium Income ETF) are both exchange-traded funds - FPRO is a REIT fund actively managed by Fidelity, while XLRI is a Derivative Income fund actively managed by State Street. Both are actively managed. Over the past year, FPRO returned 16.94% vs 10.59% for XLRI. Their correlation of 0.94 means they have usually moved in the same direction. FPRO charges 0.59%/yr vs 0.35%/yr for XLRI.
Performance
FPRO vs. XLRI - Performance Comparison
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Returns By Period
In the year-to-date period, FPRO achieves a 15.85% return, which is significantly higher than XLRI's 8.45% return.
FPRO
- 1D
- -0.63%
- 1M
- 1.33%
- 6M
- 12.32%
- YTD
- 15.85%
- 1Y
- 16.94%
- 3Y*
- 9.73%
- 5Y*
- 3.17%
- 10Y*
- —
- ALL TIME*
- 7.20%
XLRI
- 1D
- 0.16%
- 1M
- 1.35%
- 6M
- 6.08%
- YTD
- 8.45%
- 1Y
- 10.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $92.53K | $150.54K | $128.01K | |
| $84.19K | $69.65K | $65.16K |
FPRO vs. XLRI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FPRO Fidelity Real Estate Investment ETF | 15.85% | -2.21% |
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF | 8.45% | -0.57% |
Correlation
The correlation between FPRO and XLRI is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025 | 0.94 |
The correlation between FPRO and XLRI has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.
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Return for Risk
FPRO vs. XLRI — Risk / Return Rank
FPRO
XLRI
FPRO vs. XLRI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Real Estate Investment ETF (FPRO) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). 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.
| FPRO | XLRI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.18 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 1.48 | +0.67 |
| Martin ratioReturn relative to average drawdown | 6.65 | 5.18 | +1.48 |
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Drawdowns
FPRO vs. XLRI - Drawdown Comparison
The maximum FPRO drawdown since its inception was -32.81%, which is greater than XLRI's maximum drawdown of -7.12%. Use the drawdown chart below to compare losses from any high point for FPRO and XLRI.
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Drawdown Indicators
| FPRO | XLRI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.81% | -7.12% | -25.69% |
Max Drawdown (1Y)Largest decline over 1 year | -7.67% | -7.12% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -16.83% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -32.81% | — | — |
Current DrawdownCurrent decline from peak | -1.86% | -0.62% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -12.31% | -1.54% | -10.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 2.03% | +0.44% |
Volatility
FPRO vs. XLRI - Volatility Comparison
Fidelity Real Estate Investment ETF (FPRO) has a higher volatility of 4.36% compared to State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI) at 3.42%. This indicates that FPRO's price experiences larger fluctuations and is considered to be riskier than XLRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPRO | XLRI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.36% | 3.42% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 10.42% | 8.72% | +1.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.72% | 11.09% | +2.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.70% | 11.11% | +7.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.32% | 11.11% | +7.21% |
FPRO vs. XLRI - Expense Ratio Comparison
FPRO has a 0.59% expense ratio, which is higher than XLRI's 0.35% expense ratio.
Dividends
FPRO vs. XLRI - Dividend Comparison
FPRO's dividend yield for the trailing twelve months is around 2.45%, less than XLRI's 13.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FPRO Fidelity Real Estate Investment ETF | 2.45% | 2.69% | 2.50% | 2.83% | 2.67% | 1.69% |
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF | 13.52% | 6.85% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, FPRO and XLRI 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.
FPRO has higher volatility (4.36%) compared to XLRI (3.42%). In terms of maximum drawdown, FPRO dropped -32.81% vs XLRI's -7.12%.
On 1-year performance, FPRO leads with 16.94% vs 10.59% for XLRI. On fees, XLRI is cheaper at 0.35% per year. On volatility, XLRI has been the lower-risk option at 3.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FPRO has performed better with a 16.94% return vs 10.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLRI is cheaper with a 0.35% expense ratio, compared with 0.59% for FPRO.
XLRI has the higher dividend yield at 13.52%, compared with 2.45% for FPRO.
FPRO is categorized as REIT, while XLRI is Derivative Income. They also come from different issuers: Fidelity and State Street. Their fees differ too: 0.59% for FPRO and 0.35% for XLRI.
FPRO currently has the higher Sharpe Ratio (1.20 vs 0.96), 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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