FRI vs. SRVR
FRI (First Trust S&P REIT Index Fund) and SRVR (Pacer Data & Infrastructure Real Estate ETF) are both REIT funds - FRI tracks the S&P United States REIT while SRVR tracks the FTSE Nareit All Equity REITs Index. Both are passively managed. Over the past 5 years, FRI returned 4.87%/yr vs -3.01%/yr for SRVR. Their 0.73 correlation means they have sometimes moved together and sometimes differently. FRI charges 0.50%/yr vs 0.49%/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 19.62% return, which is significantly higher than SRVR's 8.80% return.
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%
SRVR
- 1D
- -1.06%
- 1M
- -0.84%
- 6M
- 1.06%
- YTD
- 8.80%
- 1Y
- 0.43%
- 3Y*
- 4.12%
- 5Y*
- -3.01%
- 10Y*
- —
- ALL TIME*
- 5.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.71M | $1.21M | $886.33K | |
| $1.88M | $2.23M | $2.66M |
FRI vs. SRVR - 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% | 2.34% |
SRVR Pacer Data & Infrastructure Real Estate ETF | 8.80% | -1.99% | 2.70% | 6.84% | -31.90% | 22.31% | 11.99% | 41.98% | -3.66% |
Correlation
The correlation between FRI and SRVR is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.76 |
Correlation (All Time) Calculated using the full available price history since May 16, 2018 | 0.73 |
Over the past year, the correlation between FRI and SRVR has dropped to 0.47 - well below their long-term average of 0.73, 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 Data & Infrastructure Real Estate 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 | +1.80 | ||
| Sortino ratioReturn per unit of downside risk | +2.38 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.01 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | -0.02 | +3.21 |
| Martin ratioReturn relative to average drawdown | 10.66 | -0.05 | +10.71 |
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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% | -15.01% | +7.44% |
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 | -2.89% | -20.33% | +17.44% |
Average DrawdownAverage peak-to-trough decline | -13.59% | -15.30% | +1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 6.18% | -3.92% |
Volatility
FRI vs. SRVR - Volatility Comparison
The current volatility for First Trust S&P REIT Index Fund (FRI) is 4.67%, while Pacer Data & Infrastructure Real Estate ETF (SRVR) has a volatility of 5.05%. 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 | 4.67% | 5.05% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 14.27% | -3.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.69% | 17.42% | -3.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.70% | 19.89% | -1.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.11% | 21.39% | -0.28% |
FRI vs. SRVR - Expense Ratio Comparison
FRI has a 0.50% expense ratio, which is higher than SRVR's 0.49% expense ratio.
Dividends
FRI vs. SRVR - Dividend Comparison
FRI's dividend yield for the trailing twelve months is around 2.40%, less than SRVR's 2.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SRVR Pacer Data & Infrastructure Real Estate ETF | 2.81% | 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 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRVR has higher volatility (5.05%) compared to FRI (4.67%). In terms of maximum drawdown, FRI dropped -71.95% vs SRVR's -40.99%.
On 5-year performance, FRI leads with 4.87% vs -3.01% for SRVR. On fees, SRVR is cheaper at 0.49% per year. On volatility, FRI has been the lower-risk option at 4.67%. 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 4.87% return vs -3.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SRVR is cheaper with a 0.49% expense ratio, compared with 0.50% for FRI.
SRVR has the higher dividend yield at 2.81%, compared with 2.40% for FRI.
FRI tracks S&P United States REIT, while SRVR tracks FTSE Nareit All Equity REITs Index. They also come from different issuers: First Trust and Pacer. Their fees differ too: 0.50% for FRI and 0.49% for SRVR.
FRI currently has the higher Sharpe Ratio (1.78 vs -0.02), 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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