FRIRX vs. FRIFX
FRIRX (Fidelity Advisor Real Estate Income Fund Class I) and FRIFX (Fidelity Real Estate Income Fund) are both REIT funds from Fidelity. Over the past 10 years, FRIRX returned 5.31%/yr vs 5.31%/yr for FRIFX. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.71% expense ratio.
Performance
FRIRX vs. FRIFX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FRIRX having a 3.81% return and FRIFX slightly higher at 3.88%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: FRIRX at 5.31% and FRIFX at 5.31%.
FRIRX
- 1D
- 0.00%
- 1M
- -0.00%
- YTD
- 3.81%
- 6M
- 4.15%
- 1Y
- 7.72%
- 3Y*
- 8.31%
- 5Y*
- 3.54%
- 10Y*
- 5.31%
FRIFX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 3.88%
- 6M
- 4.14%
- 1Y
- 7.77%
- 3Y*
- 8.36%
- 5Y*
- 3.57%
- 10Y*
- 5.31%
FRIRX vs. FRIFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRIRX Fidelity Advisor Real Estate Income Fund Class I | 3.81% | 7.10% | 7.89% | 9.36% | -14.59% | 18.98% | -1.08% | 17.89% | -1.81% | 6.23% |
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% |
Correlation
The correlation between FRIRX and FRIFX 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 FRIRX and FRIFX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
FRIRX vs. FRIFX — Risk / Return Rank
FRIRX
FRIFX
FRIRX vs. FRIFX - 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 Real Estate Income Fund (FRIFX). 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.
| FRIRX | FRIFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.35 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 2.31 | -0.03 |
| Martin ratioReturn relative to average drawdown | 9.92 | 10.13 | -0.21 |
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Drawdowns
FRIRX vs. FRIFX - Drawdown Comparison
The maximum FRIRX drawdown since its inception was -34.50%, smaller than the maximum FRIFX drawdown of -38.27%. Use the drawdown chart below to compare losses from any high point for FRIRX and FRIFX.
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Drawdown Indicators
| FRIRX | FRIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.50% | -38.27% | +3.77% |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | -3.42% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -7.28% | -7.24% | -0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -18.18% | -18.12% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -34.50% | -34.50% | 0.00% |
Current DrawdownCurrent decline from peak | -0.72% | -0.63% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -3.26% | -4.25% | +0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 0.78% | +0.01% |
Volatility
FRIRX vs. FRIFX - Volatility Comparison
Fidelity Advisor Real Estate Income Fund Class I (FRIRX) and Fidelity Real Estate Income Fund (FRIFX) have volatilities of 1.40% and 1.34%, 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
| FRIRX | FRIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 1.34% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.30% | 3.26% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 4.18% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.51% | 6.47% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.50% | 9.47% | +0.03% |
FRIRX vs. FRIFX - Expense Ratio Comparison
Both FRIRX and FRIFX have an expense ratio of 0.71%.
Dividends
FRIRX vs. FRIFX - Dividend Comparison
FRIRX's dividend yield for the trailing twelve months is around 4.48%, less than FRIFX's 4.55% 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, FRIRX and FRIFX 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 (1.40%) compared to FRIFX (1.34%). In terms of maximum drawdown, FRIRX dropped -34.50% vs FRIFX's -38.27%.
FRIFX currently has the higher Sharpe Ratio (1.89 vs 1.88), 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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