FRESX vs. FRIFX
FRESX (Fidelity Real Estate Investment Portfolio) and FRIFX (Fidelity Real Estate Income Fund) are both REIT funds from Fidelity. Over the past 10 years, FRESX returned 5.33%/yr vs 5.34%/yr for FRIFX. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.71% expense ratio.
Performance
FRESX vs. FRIFX - 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 FRIFX's 3.88% return. Both investments have delivered pretty close results over the past 10 years, with FRESX having a 5.33% annualized return and FRIFX not far ahead at 5.34%.
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%
FRIFX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 3.88%
- 6M
- 4.23%
- 1Y
- 7.33%
- 3Y*
- 8.74%
- 5Y*
- 3.46%
- 10Y*
- 5.34%
FRESX vs. FRIFX - 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% |
FRIFX Fidelity Real Estate Income Fund | 3.88% | 7.16% | 7.93% | 9.32% | -14.54% | 18.90% | -1.09% | 17.92% | -1.80% | 6.20% |
Correlation
The correlation between FRESX and FRIFX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2003 | 0.88 |
The correlation between FRESX and FRIFX has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.
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Return for Risk
FRESX vs. FRIFX — Risk / Return Rank
FRESX
FRIFX
FRESX vs. FRIFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Real Estate Investment Portfolio (FRESX) and Fidelity Real Estate Income Fund (FRIFX). 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 | FRIFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.35 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 2.29 | -0.65 |
| Martin ratioReturn relative to average drawdown | 4.67 | 10.00 | -5.33 |
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Drawdowns
FRESX vs. FRIFX - Drawdown Comparison
The maximum FRESX drawdown since its inception was -76.34%, which is greater than FRIFX's maximum drawdown of -38.27%. Use the drawdown chart below to compare losses from any high point for FRESX and FRIFX.
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Drawdown Indicators
| FRESX | FRIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.34% | -38.27% | -38.07% |
Max Drawdown (1Y)Largest decline over 1 year | -7.78% | -3.42% | -4.36% |
Max Drawdown (3Y)Largest decline over 3 years | -16.44% | -7.24% | -9.20% |
Max Drawdown (5Y)Largest decline over 5 years | -32.13% | -18.12% | -14.01% |
Max Drawdown (10Y)Largest decline over 10 years | -40.93% | -34.50% | -6.43% |
Current DrawdownCurrent decline from peak | -1.74% | -0.63% | -1.11% |
Average DrawdownAverage peak-to-trough decline | -11.11% | -4.25% | -6.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 0.78% | +1.93% |
Volatility
FRESX vs. FRIFX - Volatility Comparison
Fidelity Real Estate Investment Portfolio (FRESX) has a higher volatility of 5.07% compared to Fidelity Real Estate Income Fund (FRIFX) at 1.26%. This indicates that FRESX's price experiences larger fluctuations and is considered to be riskier than FRIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRESX | FRIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 1.26% | +3.81% |
Volatility (6M)Calculated over the trailing 6-month period | 10.09% | 3.26% | +6.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.94% | 4.19% | +9.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.77% | 6.47% | +12.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.61% | 9.48% | +11.13% |
FRESX vs. FRIFX - Expense Ratio Comparison
Both FRESX and FRIFX have an expense ratio of 0.71%.
Dividends
FRESX vs. FRIFX - Dividend Comparison
FRESX's dividend yield for the trailing twelve months is around 4.16%, less than FRIFX's 4.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
FRIFX Fidelity Real Estate Income Fund | 4.55% | 4.69% | 4.65% | 4.99% | 6.04% | 1.47% | 4.77% | 5.68% | 5.08% | 4.40% | 4.98% | 3.65% |
Frequently Asked Questions
FRESX and FRIFX have a correlation of 0.90, 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 FRIFX (1.26%). In terms of maximum drawdown, FRESX dropped -76.34% vs FRIFX's -38.27%.
FRIFX currently has the higher Sharpe Ratio (1.87 vs 0.91), 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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