FRI vs. WPC
FRI (First Trust S&P REIT Index Fund) is REIT fund tracking the S&P United States REIT, while WPC (W. P. Carey Inc.) is a stock. Over the past 10 years, FRI returned 5.42%/yr vs 6.94%/yr for WPC. Their 0.64 correlation means they have sometimes moved together and sometimes differently.
Performance
FRI vs. WPC - 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 WPC's 17.45% return. Over the past 10 years, FRI has underperformed WPC with an annualized return of 5.42%, while WPC has yielded a comparatively higher 6.94% annualized 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%
WPC
- 1D
- -0.65%
- 1M
- 3.20%
- 6M
- 8.37%
- YTD
- 17.45%
- 1Y
- 19.59%
- 3Y*
- 11.03%
- 5Y*
- 4.87%
- 10Y*
- 6.94%
- ALL TIME*
- 11.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.71M | $1.21M | $886.33K | |
| $106.67M | $107.35M | $111.83M |
FRI vs. WPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRI First Trust S&P REIT Index Fund | 19.62% | 2.80% | 7.84% | 13.33% | -24.66% | 42.55% | -7.90% | 23.67% | -4.28% | 3.86% |
WPC W. P. Carey Inc. | 17.45% | 24.99% | -10.59% | -7.93% | 0.47% | 22.88% | -5.99% | 28.84% | 1.08% | 25.68% |
Correlation
The correlation between FRI and WPC is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.69 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.74 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since May 10, 2007 | 0.64 |
The correlation between FRI and WPC shifts across timeframes, from 0.64 (all time) to 0.77 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
FRI vs. WPC — Risk / Return Rank
FRI
WPC
FRI vs. WPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust S&P REIT Index Fund (FRI) and W. P. Carey Inc. (WPC). 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 | WPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.22 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | 2.18 | +1.01 |
| Martin ratioReturn relative to average drawdown | 10.66 | 6.03 | +4.63 |
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Drawdowns
FRI vs. WPC - Drawdown Comparison
The maximum FRI drawdown since its inception was -71.95%, which is greater than WPC's maximum drawdown of -52.45%. Use the drawdown chart below to compare losses from any high point for FRI and WPC.
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Drawdown Indicators
| FRI | WPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.95% | -52.45% | -19.50% |
Max Drawdown (1Y)Largest decline over 1 year | -7.57% | -9.71% | +2.14% |
Max Drawdown (3Y)Largest decline over 3 years | -18.90% | -20.83% | +1.93% |
Max Drawdown (5Y)Largest decline over 5 years | -31.21% | -36.81% | +5.60% |
Max Drawdown (10Y)Largest decline over 10 years | -44.16% | -52.45% | +8.29% |
Current DrawdownCurrent decline from peak | -2.89% | -4.03% | +1.14% |
Average DrawdownAverage peak-to-trough decline | -13.59% | -10.23% | -3.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 3.51% | -1.25% |
Volatility
FRI vs. WPC - Volatility Comparison
The current volatility for First Trust S&P REIT Index Fund (FRI) is 4.67%, while W. P. Carey Inc. (WPC) has a volatility of 5.86%. This indicates that FRI experiences smaller price fluctuations and is considered to be less risky than WPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRI | WPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.67% | 5.86% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 13.29% | -2.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.69% | 17.11% | -3.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.70% | 20.85% | -2.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.11% | 25.90% | -4.79% |
Dividends
FRI vs. WPC - Dividend Comparison
FRI's dividend yield for the trailing twelve months is around 2.40%, less than WPC's 5.03% 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% |
WPC W. P. Carey Inc. | 5.03% | 5.62% | 6.41% | 7.93% | 5.43% | 5.12% | 5.91% | 5.17% | 6.26% | 7.26% | 6.65% | 6.48% |
Frequently Asked Questions
FRI and WPC have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WPC has higher volatility (5.86%) compared to FRI (4.67%). In terms of maximum drawdown, FRI dropped -71.95% vs WPC's -52.45%.
FRI currently has the higher Sharpe Ratio (1.78 vs 1.24), 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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