FRIFX vs. FRIRX
FRIFX (Fidelity Real Estate Income Fund) and FRIRX (Fidelity Advisor Real Estate Income Fund Class I) are both REIT funds from Fidelity. Over the past 10 years, FRIFX returned 5.34%/yr vs 5.33%/yr for FRIRX. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.71% expense ratio.
Performance
FRIFX vs. FRIRX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FRIFX having a 3.88% return and FRIRX slightly higher at 3.89%. Both investments have delivered pretty close results over the past 10 years, with FRIFX having a 5.34% annualized return and FRIRX not far behind at 5.33%.
FRIFX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 3.88%
- 6M
- 4.23%
- 1Y
- 7.33%
- 3Y*
- 8.74%
- 5Y*
- 3.46%
- 10Y*
- 5.34%
FRIRX
- 1D
- 0.08%
- 1M
- 0.08%
- YTD
- 3.89%
- 6M
- 4.24%
- 1Y
- 7.36%
- 3Y*
- 8.73%
- 5Y*
- 3.46%
- 10Y*
- 5.33%
FRIFX vs. FRIRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRIFX Fidelity Real Estate Income Fund | 3.88% | 7.16% | 7.93% | 9.32% | -14.54% | 18.90% | -1.09% | 17.92% | -1.80% | 6.20% |
FRIRX Fidelity Advisor Real Estate Income Fund Class I | 3.89% | 7.10% | 7.89% | 9.36% | -14.59% | 18.98% | -1.08% | 17.89% | -1.81% | 6.23% |
Correlation
The correlation between FRIFX and FRIRX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2010 | 0.98 |
The correlation between FRIFX and FRIRX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
FRIFX vs. FRIRX — Risk / Return Rank
FRIFX
FRIRX
FRIFX vs. FRIRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Real Estate Income Fund (FRIFX) and Fidelity Advisor Real Estate Income Fund Class I (FRIRX). 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.
| FRIFX | FRIRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.36 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 2.28 | 0.00 |
| Martin ratioReturn relative to average drawdown | 10.00 | 9.90 | +0.10 |
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Drawdowns
FRIFX vs. FRIRX - Drawdown Comparison
The maximum FRIFX drawdown since its inception was -38.27%, which is greater than FRIRX's maximum drawdown of -34.50%. Use the drawdown chart below to compare losses from any high point for FRIFX and FRIRX.
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Drawdown Indicators
| FRIFX | FRIRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.27% | -34.50% | -3.77% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -3.43% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -7.24% | -7.28% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -18.12% | -18.18% | +0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -34.50% | -34.50% | 0.00% |
Current DrawdownCurrent decline from peak | -0.63% | -0.64% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -3.26% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.79% | -0.01% |
Volatility
FRIFX vs. FRIRX - Volatility Comparison
Fidelity Real Estate Income Fund (FRIFX) and Fidelity Advisor Real Estate Income Fund Class I (FRIRX) have volatilities of 1.26% and 1.29%, 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.
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Volatility by Period
| FRIFX | FRIRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 1.29% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.26% | 3.30% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.19% | 4.19% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.47% | 6.50% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.48% | 9.51% | -0.03% |
FRIFX vs. FRIRX - Expense Ratio Comparison
Both FRIFX and FRIRX have an expense ratio of 0.71%.
Dividends
FRIFX vs. FRIRX - Dividend Comparison
FRIFX's dividend yield for the trailing twelve months is around 4.55%, more than FRIRX's 4.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRIFX Fidelity Real Estate Income Fund | 4.55% | 4.69% | 4.65% | 4.99% | 6.04% | 1.47% | 4.77% | 5.68% | 5.08% | 4.40% | 4.98% | 3.65% |
FRIRX Fidelity Advisor Real Estate Income Fund Class I | 4.48% | 4.62% | 4.68% | 5.01% | 6.08% | 1.48% | 4.80% | 5.70% | 5.10% | 4.43% | 5.05% | 3.69% |
Frequently Asked Questions
With a correlation of 0.98, FRIFX and FRIRX 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.
FRIRX has higher volatility (1.29%) compared to FRIFX (1.26%). In terms of maximum drawdown, FRIFX dropped -38.27% vs FRIRX's -34.50%.
FRIRX currently has the higher Sharpe Ratio (1.88 vs 1.87), 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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