FRIRX vs. FNILX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Advisor Real Estate Income Fund Class I (FRIRX) and Fidelity ZERO Large Cap Index Fund (FNILX).

FRIRX is managed by Fidelity. FNILX is managed by Fidelity.

Performance

FRIRX vs. FNILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Real Estate Income Fund Class I (FRIRX) and Fidelity ZERO Large Cap Index Fund (FNILX). The values are adjusted to include any dividend payments, if applicable.

FRIRX vs. FNILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FRIRX Fidelity Advisor Real Estate Income Fund Class I	0.00%	7.10%	7.89%	9.36%	-14.59%	18.98%	-1.08%	17.89%	-3.02%
FNILX Fidelity ZERO Large Cap Index Fund	-7.30%	17.81%	25.47%	27.45%	-19.37%	26.67%	21.13%	31.79%	-13.60%

Returns By Period

FRIRX

• 1D: 0.33%
• 1M: -3.11%
• YTD: 0.00%
• 6M: 0.98%
• 1Y: 4.37%
• 3Y*: 7.38%
• 5Y*: 3.90%
• 10Y*: 5.26%

FNILX

• 1D: -0.35%
• 1M: -7.60%
• YTD: -7.30%
• 6M: -5.00%
• 1Y: 14.41%
• 3Y*: 17.43%
• 5Y*: 11.17%
• 10Y*: —

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

FRIRX vs. FNILX - Expense Ratio Comparison

FRIRX has a 0.71% expense ratio, which is higher than FNILX's 0.00% expense ratio.

FRIRX

Fidelity Advisor Real Estate Income Fund Class I

FNILX

Fidelity ZERO Large Cap Index Fund

Return for Risk

FRIRX vs. FNILX — Risk / Return Rank

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

FRIRX

FRIRX Risk / Return Rank: 43
FRIRX Sharpe Ratio Rank: 46
FRIRX Sortino Ratio Rank: 37
FRIRX Omega Ratio Rank: 40
FRIRX Calmar Ratio Rank: 44
FRIRX Martin Ratio Rank: 46

FNILX

FNILX Risk / Return Rank: 45
FNILX Sharpe Ratio Rank: 40
FNILX Sortino Ratio Rank: 44
FNILX Omega Ratio Rank: 49
FNILX Calmar Ratio Rank: 41
FNILX Martin Ratio Rank: 52

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.

FRIRX vs. FNILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Real Estate Income Fund Class I (FRIRX) and Fidelity ZERO Large Cap Index Fund (FNILX). 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.

	FRIRX	FNILX	Difference
Sharpe ratio Return per unit of total volatility	0.91	0.83	+0.09
Sortino ratio Return per unit of downside risk	1.21	1.28	-0.07
Omega ratio Gain probability vs. loss probability	1.18	1.20	-0.01
Calmar ratio Return relative to maximum drawdown	1.10	1.04	+0.05
Martin ratio Return relative to average drawdown	4.66	5.01	-0.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRIRX vs. FNILX - Sharpe Ratio Comparison

The current FRIRX Sharpe Ratio is 0.91, which is comparable to the FNILX Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of FRIRX and FNILX, 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

	FRIRX	FNILX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	0.83	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.65	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.64	+0.15

Correlation

The correlation between FRIRX and FNILX is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FRIRX vs. FNILX - Dividend Comparison

FRIRX's dividend yield for the trailing twelve months is around 4.62%, more than FNILX's 1.09% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRIRX Fidelity Advisor Real Estate Income Fund Class I	4.62%	4.62%	4.68%	5.01%	6.08%	1.48%	4.80%	5.70%	5.10%	4.43%	5.05%	3.69%
FNILX Fidelity ZERO Large Cap Index Fund	1.09%	1.01%	1.09%	1.34%	1.53%	0.95%	1.20%	1.17%	0.53%	0.00%	0.00%	0.00%

Drawdowns

FRIRX vs. FNILX - Drawdown Comparison

The maximum FRIRX drawdown since its inception was -34.50%, roughly equal to the maximum FNILX drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for FRIRX and FNILX.

Drawdown Indicators

	FRIRX	FNILX	Difference
Max Drawdown Largest peak-to-trough decline	-34.50%	-33.76%	-0.74%
Max Drawdown (1Y) Largest decline over 1 year	-4.30%	-12.18%	+7.88%
Max Drawdown (5Y) Largest decline over 5 years	-18.18%	-25.40%	+7.22%
Max Drawdown (10Y) Largest decline over 10 years	-34.50%	—	—
Current Drawdown Current decline from peak	-3.11%	-9.01%	+5.90%
Average Drawdown Average peak-to-trough decline	-3.30%	-5.47%	+2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	2.54%	-1.53%

Volatility

FRIRX vs. FNILX - Volatility Comparison

The current volatility for Fidelity Advisor Real Estate Income Fund Class I (FRIRX) is 1.57%, while Fidelity ZERO Large Cap Index Fund (FNILX) has a volatility of 4.23%. This indicates that FRIRX experiences smaller price fluctuations and is considered to be less risky than FNILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRIRX	FNILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.57%	4.23%	-2.66%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	9.14%	-6.33%
Volatility (1Y) Calculated over the trailing 1-year period	4.91%	18.26%	-13.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.53%	17.22%	-10.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.49%	20.17%	-10.68%