FRESX vs. FIREX
FRESX (Fidelity Real Estate Investment Portfolio) and FIREX (Fidelity International Real Estate Fund) are both REIT funds from Fidelity. Over the past 10 years, FRESX returned 5.33%/yr vs 3.75%/yr for FIREX. A 0.50 correlation means they provide meaningful diversification when combined. FRESX charges 0.71%/yr vs 0.95%/yr for FIREX.
Performance
FRESX vs. FIREX - Performance Comparison
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Returns By Period
In the year-to-date period, FRESX achieves a 12.74% return, which is significantly higher than FIREX's -4.06% return. Over the past 10 years, FRESX has outperformed FIREX with an annualized return of 5.33%, while FIREX has yielded a comparatively lower 3.75% annualized return.
FRESX
- 1D
- 1.19%
- 1M
- 0.19%
- YTD
- 12.74%
- 6M
- 13.25%
- 1Y
- 11.00%
- 3Y*
- 11.14%
- 5Y*
- 3.52%
- 10Y*
- 5.33%
FIREX
- 1D
- 0.00%
- 1M
- -1.84%
- YTD
- -4.06%
- 6M
- -3.79%
- 1Y
- 1.91%
- 3Y*
- 4.44%
- 5Y*
- -3.57%
- 10Y*
- 3.75%
FRESX vs. FIREX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRESX Fidelity Real Estate Investment Portfolio | 12.74% | 2.54% | 5.87% | 10.82% | -24.36% | 42.34% | -7.93% | 25.22% | -4.48% | 4.28% |
FIREX Fidelity International Real Estate Fund | -4.06% | 22.85% | -9.46% | 4.01% | -26.61% | 11.85% | 5.71% | 27.96% | -6.15% | 24.61% |
Correlation
The correlation between FRESX and FIREX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2004 | 0.50 |
The correlation between FRESX and FIREX has been stable across timeframes, ranging from 0.48 to 0.56 - a consistent structural relationship.
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Return for Risk
FRESX vs. FIREX — Risk / Return Rank
FRESX
FIREX
FRESX vs. FIREX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Real Estate Investment Portfolio (FRESX) and Fidelity International Real Estate Fund (FIREX). 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 | FIREX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.05 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 0.18 | +1.45 |
| Martin ratioReturn relative to average drawdown | 4.67 | 0.43 | +4.23 |
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Drawdowns
FRESX vs. FIREX - Drawdown Comparison
The maximum FRESX drawdown since its inception was -76.34%, which is greater than FIREX's maximum drawdown of -71.40%. Use the drawdown chart below to compare losses from any high point for FRESX and FIREX.
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Drawdown Indicators
| FRESX | FIREX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.34% | -71.40% | -4.94% |
Max Drawdown (1Y)Largest decline over 1 year | -7.78% | -14.00% | +6.22% |
Max Drawdown (3Y)Largest decline over 3 years | -16.44% | -18.06% | +1.62% |
Max Drawdown (5Y)Largest decline over 5 years | -32.13% | -37.14% | +5.01% |
Max Drawdown (10Y)Largest decline over 10 years | -40.93% | -37.14% | -3.79% |
Current DrawdownCurrent decline from peak | -1.74% | -20.81% | +19.07% |
Average DrawdownAverage peak-to-trough decline | -11.11% | -18.73% | +7.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 5.78% | -3.07% |
Volatility
FRESX vs. FIREX - Volatility Comparison
Fidelity Real Estate Investment Portfolio (FRESX) has a higher volatility of 5.07% compared to Fidelity International Real Estate Fund (FIREX) at 3.43%. This indicates that FRESX's price experiences larger fluctuations and is considered to be riskier than FIREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRESX | FIREX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 3.43% | +1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 10.09% | 10.06% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.94% | 12.22% | +1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.77% | 13.71% | +5.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.61% | 13.74% | +6.87% |
FRESX vs. FIREX - Expense Ratio Comparison
FRESX has a 0.71% expense ratio, which is lower than FIREX's 0.95% expense ratio.
Dividends
FRESX vs. FIREX - Dividend Comparison
FRESX's dividend yield for the trailing twelve months is around 4.16%, more than FIREX's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIREX Fidelity International Real Estate Fund | 3.09% | 2.97% | 5.27% | 1.86% | 4.44% | 5.44% | 1.77% | 5.10% | 2.01% | 1.46% | 4.14% | 2.87% |
FRESX Fidelity Real Estate Investment Portfolio | 4.16% | 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
FRESX and FIREX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRESX has higher volatility (5.07%) compared to FIREX (3.43%). In terms of maximum drawdown, FRESX dropped -76.34% vs FIREX's -71.40%.
FRESX currently has the higher Sharpe Ratio (0.91 vs 0.21), 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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