FRI vs. BBRE
FRI (First Trust S&P REIT Index Fund) and BBRE (JPMorgan BetaBuilders MSCI US REIT ETF) are both REIT funds - FRI tracks the S&P United States REIT while BBRE tracks the MSCI US REIT Index. Both are passively managed. Over the past 5 years, FRI returned 4.87%/yr vs 4.94%/yr for BBRE. Their 0.98 correlation means they have historically moved very closely together. FRI charges 0.50%/yr vs 0.11%/yr for BBRE.
Performance
FRI vs. BBRE - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with FRI having a 19.62% return and BBRE slightly higher at 19.92%.
FRI
- 1D
- -0.53%
- 1M
- 0.72%
- 6M
- 16.22%
- YTD
- 19.62%
- 1Y
- 24.63%
- 3Y*
- 11.71%
- 5Y*
- 4.87%
- 10Y*
- 5.42%
- ALL TIME*
- 5.31%
BBRE
- 1D
- -0.53%
- 1M
- 0.88%
- 6M
- 16.77%
- YTD
- 19.92%
- 1Y
- 24.62%
- 3Y*
- 11.76%
- 5Y*
- 4.94%
- 10Y*
- —
- ALL TIME*
- 7.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.15M | $3.29M | $5.12M | |
| $1.71M | $1.21M | $886.33K |
FRI vs. BBRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FRI First Trust S&P REIT Index Fund | 19.62% | 2.80% | 7.84% | 13.33% | -24.66% | 42.55% | -7.90% | 23.67% | -2.38% |
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 19.92% | 2.09% | 8.24% | 13.85% | -24.68% | 42.99% | -7.55% | 26.06% | -2.41% |
Correlation
The correlation between FRI and BBRE is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2018 | 0.98 |
The correlation between FRI and BBRE has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FRI vs. BBRE — Risk / Return Rank
FRI
BBRE
FRI vs. BBRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust S&P REIT Index Fund (FRI) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE). 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.
| FRI | BBRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.30 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | 2.99 | +0.21 |
| Martin ratioReturn relative to average drawdown | 10.66 | 9.87 | +0.79 |
Loading charts...
Drawdowns
FRI vs. BBRE - Drawdown Comparison
The maximum FRI drawdown since its inception was -71.95%, which is greater than BBRE's maximum drawdown of -43.61%. Use the drawdown chart below to compare losses from any high point for FRI and BBRE.
Loading charts...
Drawdown Indicators
| FRI | BBRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.95% | -43.61% | -28.34% |
Max Drawdown (1Y)Largest decline over 1 year | -7.57% | -8.07% | +0.50% |
Max Drawdown (3Y)Largest decline over 3 years | -18.90% | -18.92% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -31.21% | -31.15% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -44.16% | — | — |
Current DrawdownCurrent decline from peak | -2.89% | -2.82% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -13.59% | -10.33% | -3.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 2.44% | -0.18% |
Volatility
FRI vs. BBRE - Volatility Comparison
First Trust S&P REIT Index Fund (FRI) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) have volatilities of 4.67% and 4.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FRI | BBRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.67% | 4.70% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 10.87% | -0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.69% | 14.06% | -0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.70% | 18.82% | -0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.11% | 22.47% | -1.36% |
FRI vs. BBRE - Expense Ratio Comparison
FRI has a 0.50% expense ratio, which is higher than BBRE's 0.11% expense ratio.
Dividends
FRI vs. BBRE - Dividend Comparison
FRI's dividend yield for the trailing twelve months is around 2.40%, less than BBRE's 2.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 2.58% | 3.24% | 3.19% | 3.68% | 2.62% | 1.70% | 3.17% | 2.19% | 1.96% | 0.00% | 0.00% | 0.00% |
FRI First Trust S&P REIT Index Fund | 2.40% | 2.99% | 3.33% | 3.24% | 2.52% | 1.44% | 3.08% | 2.28% | 3.21% | 2.82% | 3.27% | 2.66% |
Frequently Asked Questions
With a correlation of 0.99, FRI and BBRE 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.
BBRE has higher volatility (4.70%) compared to FRI (4.67%). In terms of maximum drawdown, FRI dropped -71.95% vs BBRE's -43.61%.
On 5-year performance, BBRE leads with 4.94% vs 4.87% for FRI. On fees, BBRE is cheaper at 0.11% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BBRE has performed better with a 4.94% return vs 4.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBRE is cheaper with a 0.11% expense ratio, compared with 0.50% for FRI.
BBRE has the higher dividend yield at 2.58%, compared with 2.40% for FRI.
FRI tracks S&P United States REIT, while BBRE tracks MSCI US REIT Index. They also come from different issuers: First Trust and JPMorgan. Their fees differ too: 0.50% for FRI and 0.11% for BBRE.
FRI currently has the higher Sharpe Ratio (1.78 vs 1.73), 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.
Find the right allocation for FRI and BBRE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer