FRI vs. SRVR
FRI (First Trust S&P REIT Index Fund) and SRVR (Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF) are both REIT funds - FRI tracks the S&P United States REIT while SRVR tracks the Benchmark Data & Infrastructure Real Estate SCTR Index. Both are passively managed. Over the past 5 years, FRI returned 5.21%/yr vs -1.27%/yr for SRVR. A 0.74 correlation means they provide meaningful diversification when combined. FRI charges 0.50%/yr vs 0.60%/yr for SRVR.
Performance
FRI vs. SRVR - Performance Comparison
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Returns By Period
In the year-to-date period, FRI achieves a 16.71% return, which is significantly lower than SRVR's 17.97% return.
FRI
- 1D
- 1.36%
- 1M
- 1.57%
- YTD
- 16.71%
- 6M
- 17.19%
- 1Y
- 17.99%
- 3Y*
- 13.61%
- 5Y*
- 5.21%
- 10Y*
- 5.93%
SRVR
- 1D
- -1.01%
- 1M
- -2.35%
- YTD
- 17.97%
- 6M
- 18.04%
- 1Y
- 5.84%
- 3Y*
- 8.93%
- 5Y*
- -1.27%
- 10Y*
- —
FRI vs. SRVR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FRI First Trust S&P REIT Index Fund | 16.71% | 2.80% | 7.84% | 13.33% | -24.66% | 42.55% | -7.90% | 23.67% | 2.34% |
SRVR Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF | 17.97% | -1.99% | 2.70% | 6.84% | -31.90% | 22.31% | 11.99% | 41.98% | -3.66% |
Correlation
The correlation between FRI and SRVR is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since May 16, 2018 | 0.74 |
Over the past year, the correlation between FRI and SRVR has dropped to 0.53 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.
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Return for Risk
FRI vs. SRVR — Risk / Return Rank
FRI
SRVR
FRI vs. SRVR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust S&P REIT Index Fund (FRI) and Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF (SRVR). 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 | SRVR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.07 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 0.40 | +1.99 |
| Martin ratioReturn relative to average drawdown | 7.53 | 0.84 | +6.68 |
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Drawdowns
FRI vs. SRVR - Drawdown Comparison
The maximum FRI drawdown since its inception was -71.95%, which is greater than SRVR's maximum drawdown of -40.99%. Use the drawdown chart below to compare losses from any high point for FRI and SRVR.
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Drawdown Indicators
| FRI | SRVR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.95% | -40.99% | -30.96% |
Max Drawdown (1Y)Largest decline over 1 year | -7.57% | -14.78% | +7.21% |
Max Drawdown (3Y)Largest decline over 3 years | -18.90% | -18.34% | -0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -31.21% | -40.99% | +9.78% |
Max Drawdown (10Y)Largest decline over 10 years | -44.16% | — | — |
Current DrawdownCurrent decline from peak | -0.25% | -13.62% | +13.37% |
Average DrawdownAverage peak-to-trough decline | -13.67% | -15.24% | +1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.40% | 6.94% | -4.54% |
Volatility
FRI vs. SRVR - Volatility Comparison
The current volatility for First Trust S&P REIT Index Fund (FRI) is 5.30%, while Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF (SRVR) has a volatility of 5.66%. This indicates that FRI experiences smaller price fluctuations and is considered to be less risky than SRVR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRI | SRVR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.30% | 5.66% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 9.99% | 13.59% | -3.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.70% | 17.29% | -3.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.69% | 19.78% | -1.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.10% | 21.44% | -0.34% |
FRI vs. SRVR - Expense Ratio Comparison
FRI has a 0.50% expense ratio, which is lower than SRVR's 0.60% expense ratio.
Dividends
FRI vs. SRVR - Dividend Comparison
FRI's dividend yield for the trailing twelve months is around 2.49%, less than SRVR's 2.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRI First Trust S&P REIT Index Fund | 2.49% | 2.99% | 3.33% | 3.24% | 2.52% | 1.44% | 3.08% | 2.28% | 3.21% | 2.82% | 3.27% | 2.66% |
SRVR Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF | 2.59% | 2.67% | 2.00% | 3.69% | 1.70% | 1.19% | 1.59% | 1.61% | 2.13% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FRI and SRVR have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRVR has higher volatility (5.66%) compared to FRI (5.30%). In terms of maximum drawdown, FRI dropped -71.95% vs SRVR's -40.99%.
On 5-year performance, FRI leads with 5.21% vs -1.27% for SRVR. On fees, FRI is cheaper at 0.50% per year. On volatility, FRI has been the lower-risk option at 5.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FRI has performed better with a 5.21% return vs -1.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FRI is cheaper with a 0.50% expense ratio, compared with 0.60% for SRVR.
SRVR has the higher dividend yield at 2.59%, compared with 2.49% for FRI.
FRI tracks S&P United States REIT, while SRVR tracks Benchmark Data & Infrastructure Real Estate SCTR Index. They also come from different issuers: First Trust and Pacer. Their fees differ too: 0.50% for FRI and 0.60% for SRVR.
FRI currently has the higher Sharpe Ratio (1.32 vs 0.34), 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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