FRESX vs. FGOMX

Last updated Aug 1, 2026

FRESX (Fidelity Real Estate Investment Portfolio) and FGOMX (Strategic Advisers Fidelity Emerging Markets Fund) are both mutual funds - FRESX is a REIT fund actively managed by Fidelity, while FGOMX is a Emerging Markets Equities fund managed by Fidelity. Over the past 5 years, FRESX returned 3.34%/yr vs 8.30%/yr for FGOMX. Their 0.32 correlation means their historical movements had little consistent relationship. FRESX charges 0.64%/yr vs 0.25%/yr for FGOMX.

Performance

FRESX vs. FGOMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Real Estate Investment Portfolio (FRESX) and Strategic Advisers Fidelity Emerging Markets Fund (FGOMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRESX achieves a 16.43% return, which is significantly lower than FGOMX's 20.10% return.

FRESX

• 1D: -0.93%
• 1M: 1.67%
• 6M: 12.68%
• YTD: 16.43%
• 1Y: 17.61%
• 3Y*: 10.00%
• 5Y*: 3.34%
• 10Y*: 4.73%
• ALL TIME*: 8.84%

FGOMX

• 1D: 3.87%
• 1M: -3.29%
• 6M: 7.90%
• YTD: 20.10%
• 1Y: 38.55%
• 3Y*: 19.98%
• 5Y*: 8.30%
• 10Y*: —
• ALL TIME*: 10.38%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FGOMX Strategic Advisers Fidelity Emerging Markets Fund	$0.00	$0.00	$0.00
FRESX Fidelity Real Estate Investment Portfolio	$0.00	$0.00	$0.00

FRESX vs. FGOMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FRESX Fidelity Real Estate Investment Portfolio	16.43%	2.54%	5.87%	10.82%	-24.36%	42.34%	-7.93%	25.22%	-3.10%
FGOMX Strategic Advisers Fidelity Emerging Markets Fund	20.10%	34.20%	7.88%	12.23%	-22.45%	-0.19%	22.10%	22.25%	-4.83%

Correlation

The correlation between FRESX and FGOMX is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.02
Correlation (3Y) Balances recent behavior with more history.	0.18
Correlation (5Y) Shows whether the relationship held over a longer period.	0.31
Correlation (All Time) Calculated using the full available price history since Nov 5, 2018	0.32

The correlation between FRESX and FGOMX shifts across timeframes, from -0.02 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FRESX vs. FGOMX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FRESX

FRESX Risk / Return Rank: 44
FRESX Sharpe Ratio Rank: 38
FRESX Sortino Ratio Rank: 38
FRESX Omega Ratio Rank: 36
FRESX Calmar Ratio Rank: 61
FRESX Martin Ratio Rank: 45

FGOMX

FGOMX Risk / Return Rank: 81
FGOMX Sharpe Ratio Rank: 80
FGOMX Sortino Ratio Rank: 74
FGOMX Omega Ratio Rank: 78
FGOMX Calmar Ratio Rank: 89
FGOMX Martin Ratio Rank: 83

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FRESX vs. FGOMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Real Estate Investment Portfolio (FRESX) and Strategic Advisers Fidelity Emerging Markets Fund (FGOMX). 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.

	FRESX	FGOMX	Difference
Sharpe ratio: Return per unit of total volatility	1.12	1.87	-0.75
Sortino ratio: Return per unit of downside risk	1.64	2.44	-0.80
Omega ratio: Gain probability vs. loss probability	1.20	1.34	-0.14
Calmar ratio: Return relative to maximum drawdown	2.01	3.27	-1.26
Martin ratio: Return relative to average drawdown	6.21	10.05	-3.84

FRESX vs. FGOMX - Sharpe Ratio Comparison

The current FRESX Sharpe Ratio is 1.12, which is lower than the FGOMX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of FRESX and FGOMX, 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

FRESX vs. FGOMX - Drawdown Comparison

The maximum FRESX drawdown since its inception was -76.34%, which is greater than FGOMX's maximum drawdown of -40.14%. Use the drawdown chart below to compare losses from any high point for FRESX and FGOMX.

Drawdown Indicators

	FRESX	FGOMX	Difference
Max Drawdown Largest peak-to-trough decline	-76.34%	-40.14%	-36.20%
Max Drawdown (1Y) Largest decline over 1 year	-7.78%	-13.54%	+5.76%
Max Drawdown (3Y) Largest decline over 3 years	-16.44%	-16.71%	+0.27%
Max Drawdown (5Y) Largest decline over 5 years	-32.13%	-35.80%	+3.67%
Max Drawdown (10Y) Largest decline over 10 years	-40.93%	—	—
Current Drawdown Current decline from peak	-1.24%	-10.19%	+8.95%
Average Drawdown Average peak-to-trough decline	-11.08%	-13.20%	+2.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	4.12%	-1.59%

Volatility

FRESX vs. FGOMX - Volatility Comparison

The current volatility for Fidelity Real Estate Investment Portfolio (FRESX) is 4.33%, while Strategic Advisers Fidelity Emerging Markets Fund (FGOMX) has a volatility of 9.18%. This indicates that FRESX experiences smaller price fluctuations and is considered to be less risky than FGOMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRESX	FGOMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	9.18%	-4.85%
Volatility (6M) Calculated over the trailing 6-month period	10.73%	20.68%	-9.95%
Volatility (1Y) Calculated over the trailing 1-year period	14.00%	23.69%	-9.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.82%	18.85%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.62%	19.81%	+0.81%

FRESX vs. FGOMX - Expense Ratio Comparison

FRESX has a 0.64% expense ratio, which is higher than FGOMX's 0.25% expense ratio.

Dividends

FRESX vs. FGOMX - Dividend Comparison

FRESX's dividend yield for the trailing twelve months is around 4.03%, less than FGOMX's 6.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGOMX Strategic Advisers Fidelity Emerging Markets Fund	6.94%	2.17%	2.40%	2.83%	2.42%	4.63%	0.73%	2.13%	0.00%	0.00%	0.00%	0.00%
FRESX Fidelity Real Estate Investment Portfolio	4.03%	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

Can I hold both FRESX and FGOMX in my portfolio?

FRESX and FGOMX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRESX or FGOMX?

FGOMX has higher volatility (9.18%) compared to FRESX (4.33%). In terms of maximum drawdown, FRESX dropped -76.34% vs FGOMX's -40.14%.

Which has better risk-adjusted returns?

FGOMX currently has the higher Sharpe Ratio (1.87 vs 1.12), 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.