FRI vs. WELL

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust S&P REIT Index Fund (FRI) and Welltower Inc. (WELL).

FRI is a passively managed fund by First Trust that tracks the performance of the S&P United States REIT. It was launched on May 8, 2007.

Performance

FRI vs. WELL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust S&P REIT Index Fund (FRI) and Welltower Inc. (WELL). The values are adjusted to include any dividend payments, if applicable.

FRI vs. WELL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRI First Trust S&P REIT Index Fund	4.55%	2.80%	7.84%	13.33%	-24.66%	42.55%	-7.90%	23.67%	-4.28%	3.86%
WELL Welltower Inc.	6.90%	49.86%	43.07%	41.79%	-21.18%	36.98%	-17.19%	23.04%	15.31%	0.22%

Returns By Period

In the year-to-date period, FRI achieves a 4.55% return, which is significantly lower than WELL's 6.90% return. Over the past 10 years, FRI has underperformed WELL with an annualized return of 4.97%, while WELL has yielded a comparatively higher 15.28% annualized return.

FRI

• 1D: 1.58%
• 1M: -5.55%
• YTD: 4.55%
• 6M: 2.82%
• 1Y: 6.47%
• 3Y*: 8.59%
• 5Y*: 5.00%
• 10Y*: 4.97%

WELL

• 1D: 1.23%
• 1M: -4.54%
• YTD: 6.90%
• 6M: 11.81%
• 1Y: 31.19%
• 3Y*: 43.37%
• 5Y*: 25.13%
• 10Y*: 15.28%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

FRI vs. WELL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FRI

FRI Risk / Return Rank: 25
FRI Sharpe Ratio Rank: 24
FRI Sortino Ratio Rank: 23
FRI Omega Ratio Rank: 24
FRI Calmar Ratio Rank: 26
FRI Martin Ratio Rank: 30

WELL

WELL Risk / Return Rank: 81
WELL Sharpe Ratio Rank: 85
WELL Sortino Ratio Rank: 78
WELL Omega Ratio Rank: 78
WELL Calmar Ratio Rank: 82
WELL Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FRI vs. WELL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust S&P REIT Index Fund (FRI) and Welltower Inc. (WELL). 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.

	FRI	WELL	Difference
Sharpe ratio Return per unit of total volatility	0.39	1.47	-1.08
Sortino ratio Return per unit of downside risk	0.64	1.97	-1.32
Omega ratio Gain probability vs. loss probability	1.09	1.26	-0.17
Calmar ratio Return relative to maximum drawdown	0.59	2.46	-1.87
Martin ratio Return relative to average drawdown	2.57	6.07	-3.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRI vs. WELL - Sharpe Ratio Comparison

The current FRI Sharpe Ratio is 0.39, which is lower than the WELL Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of FRI and WELL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FRI	WELL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.39	1.47	-1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	1.08	-0.81
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.48	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.56	-0.39

Correlation

The correlation between FRI and WELL is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FRI vs. WELL - Dividend Comparison

FRI's dividend yield for the trailing twelve months is around 2.78%, more than WELL's 1.46% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRI First Trust S&P REIT Index Fund	2.78%	2.99%	3.33%	3.24%	2.52%	1.44%	3.08%	2.28%	3.21%	2.82%	3.27%	2.66%
WELL Welltower Inc.	1.46%	1.52%	2.03%	2.71%	3.72%	2.84%	4.18%	4.26%	5.01%	5.46%	5.14%	4.85%

Drawdowns

FRI vs. WELL - Drawdown Comparison

The maximum FRI drawdown since its inception was -71.95%, which is greater than WELL's maximum drawdown of -63.33%. Use the drawdown chart below to compare losses from any high point for FRI and WELL.

Drawdown Indicators

	FRI	WELL	Difference
Max Drawdown Largest peak-to-trough decline	-71.95%	-63.33%	-8.62%
Max Drawdown (1Y) Largest decline over 1 year	-13.12%	-12.61%	-0.51%
Max Drawdown (5Y) Largest decline over 5 years	-31.21%	-40.78%	+9.57%
Max Drawdown (10Y) Largest decline over 10 years	-44.16%	-63.33%	+19.17%
Current Drawdown Current decline from peak	-5.88%	-7.92%	+2.04%
Average Drawdown Average peak-to-trough decline	-13.82%	-10.37%	-3.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	5.11%	-2.12%

Volatility

FRI vs. WELL - Volatility Comparison

The current volatility for First Trust S&P REIT Index Fund (FRI) is 4.33%, while Welltower Inc. (WELL) has a volatility of 6.70%. This indicates that FRI experiences smaller price fluctuations and is considered to be less risky than WELL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRI	WELL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	6.70%	-2.37%
Volatility (6M) Calculated over the trailing 6-month period	9.01%	14.89%	-5.88%
Volatility (1Y) Calculated over the trailing 1-year period	16.75%	21.26%	-4.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.67%	23.52%	-4.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.06%	31.83%	-10.77%