FRIQX vs. FIRAX

Last updated Jun 5, 2026

FRIQX (Fidelity Advisor Real Estate Income Fund Class M) and FIRAX (Fidelity Advisor International Real Estate Fund Class A) are both REIT funds from Fidelity. Over the past 10 years, FRIQX returned 5.03%/yr vs 3.04%/yr for FIRAX. A 0.55 correlation means they provide meaningful diversification when combined. FRIQX charges 0.99%/yr vs 1.20%/yr for FIRAX.

Performance

FRIQX vs. FIRAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Real Estate Income Fund Class M (FRIQX) and Fidelity Advisor International Real Estate Fund Class A (FIRAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRIQX achieves a 3.34% return, which is significantly higher than FIRAX's -4.41% return. Over the past 10 years, FRIQX has outperformed FIRAX with an annualized return of 5.03%, while FIRAX has yielded a comparatively lower 3.04% annualized return.

FRIQX

• 1D: -0.08%
• 1M: -0.00%
• YTD: 3.34%
• 6M: 3.89%
• 1Y: 7.59%
• 3Y*: 8.09%
• 5Y*: 3.29%
• 10Y*: 5.03%

FIRAX

• 1D: -1.19%
• 1M: -4.41%
• YTD: -4.41%
• 6M: -2.53%
• 1Y: 2.48%
• 3Y*: 3.10%
• 5Y*: -3.86%
• 10Y*: 3.04%

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

FRIQX vs. FIRAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRIQX Fidelity Advisor Real Estate Income Fund Class M	3.34%	6.87%	7.59%	9.08%	-14.87%	18.61%	-1.37%	17.58%	-2.02%	5.99%
FIRAX Fidelity Advisor International Real Estate Fund Class A	-4.41%	22.41%	-9.70%	3.82%	-26.82%	11.61%	5.35%	27.55%	-6.46%	26.48%

Correlation

The correlation between FRIQX and FIRAX is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Apr 21, 2010	0.55

The correlation between FRIQX and FIRAX has been stable across timeframes, ranging from 0.55 to 0.63 - a consistent structural relationship.

Return for Risk

FRIQX vs. FIRAX — Risk / Return Rank

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

FRIQX

FRIQX Risk / Return Rank: 45
FRIQX Sharpe Ratio Rank: 46
FRIQX Sortino Ratio Rank: 44
FRIQX Omega Ratio Rank: 47
FRIQX Calmar Ratio Rank: 39
FRIQX Martin Ratio Rank: 51

FIRAX

FIRAX Risk / Return Rank: 4
FIRAX Sharpe Ratio Rank: 4
FIRAX Sortino Ratio Rank: 4
FIRAX Omega Ratio Rank: 4
FIRAX Calmar Ratio Rank: 4
FIRAX Martin Ratio Rank: 4

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.

FRIQX vs. FIRAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Real Estate Income Fund Class M (FRIQX) and Fidelity Advisor International Real Estate Fund Class A (FIRAX). 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.

	FRIQX	FIRAX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	0.24	+1.69
Sortino ratio: Return per unit of downside risk	2.72	0.43	+2.29
Omega ratio: Gain probability vs. loss probability	1.36	1.05	+0.31
Calmar ratio: Return relative to maximum drawdown	2.29	0.21	+2.08
Martin ratio: Return relative to average drawdown	10.00	0.57	+9.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRIQX vs. FIRAX - Sharpe Ratio Comparison

The current FRIQX Sharpe Ratio is 1.93, which is higher than the FIRAX Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of FRIQX and FIRAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FRIQX	FIRAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	0.24	+1.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	-0.28	+0.79
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.22	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.11	+0.65

Drawdowns

FRIQX vs. FIRAX - Drawdown Comparison

The maximum FRIQX drawdown since its inception was -34.50%, smaller than the maximum FIRAX drawdown of -71.58%. Use the drawdown chart below to compare losses from any high point for FRIQX and FIRAX.

Drawdown Indicators

	FRIQX	FIRAX	Difference
Max Drawdown Largest peak-to-trough decline	-34.50%	-71.58%	+37.08%
Max Drawdown (1Y) Largest decline over 1 year	-3.44%	-13.80%	+10.36%
Max Drawdown (3Y) Largest decline over 3 years	-7.28%	-18.15%	+10.87%
Max Drawdown (5Y) Largest decline over 5 years	-18.37%	-37.46%	+19.09%
Max Drawdown (10Y) Largest decline over 10 years	-34.50%	-37.46%	+2.96%
Current Drawdown Current decline from peak	-0.56%	-22.05%	+21.49%
Average Drawdown Average peak-to-trough decline	-3.39%	-20.66%	+17.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	5.09%	-4.30%

Volatility

FRIQX vs. FIRAX - Volatility Comparison

The current volatility for Fidelity Advisor Real Estate Income Fund Class M (FRIQX) is 1.25%, while Fidelity Advisor International Real Estate Fund Class A (FIRAX) has a volatility of 3.66%. This indicates that FRIQX experiences smaller price fluctuations and is considered to be less risky than FIRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRIQX	FIRAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.25%	3.66%	-2.41%
Volatility (6M) Calculated over the trailing 6-month period	3.15%	9.77%	-6.62%
Volatility (1Y) Calculated over the trailing 1-year period	4.10%	12.05%	-7.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.50%	13.72%	-7.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.50%	13.76%	-4.26%

FRIQX vs. FIRAX - Expense Ratio Comparison

FRIQX has a 0.99% expense ratio, which is lower than FIRAX's 1.20% expense ratio.

Dividends

FRIQX vs. FIRAX - Dividend Comparison

FRIQX's dividend yield for the trailing twelve months is around 4.29%, more than FIRAX's 2.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIRAX Fidelity Advisor International Real Estate Fund Class A	2.88%	2.75%	5.09%	1.56%	4.32%	5.29%	1.48%	4.81%	1.85%	2.76%	4.02%	2.70%
FRIQX Fidelity Advisor Real Estate Income Fund Class M	4.29%	4.40%	4.40%	4.76%	5.78%	1.30%	4.51%	5.43%	4.88%	4.20%	4.74%	3.50%

Frequently Asked Questions

Can I hold both FRIQX and FIRAX in my portfolio?

FRIQX and FIRAX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRIQX or FIRAX?

FIRAX has higher volatility (3.66%) compared to FRIQX (1.25%). In terms of maximum drawdown, FRIQX dropped -34.50% vs FIRAX's -71.58%.

Which has better risk-adjusted returns?

FRIQX currently has the higher Sharpe Ratio (1.93 vs 0.24), 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.