FRIRX vs. GRIFX

Last updated Jun 3, 2026

FRIRX (Fidelity Advisor Real Estate Income Fund Class I) and GRIFX (Apollo Diversified Real Estate Fund Class I) are both REIT funds. Over the past 10 years, FRIRX returned 5.32%/yr vs 4.50%/yr for GRIFX. Their correlation of 0.82 suggests significant overlap in exposure. FRIRX charges 0.71%/yr vs 2.23%/yr for GRIFX.

Performance

FRIRX vs. GRIFX - 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 Apollo Diversified Real Estate Fund Class I (GRIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FRIRX having a 3.56% return and GRIFX slightly lower at 3.45%. Over the past 10 years, FRIRX has outperformed GRIFX with an annualized return of 5.32%, while GRIFX has yielded a comparatively lower 4.50% annualized return.

FRIRX

• 1D: -0.32%
• 1M: -0.08%
• YTD: 3.56%
• 6M: 4.10%
• 1Y: 8.17%
• 3Y*: 8.42%
• 5Y*: 3.60%
• 10Y*: 5.32%

GRIFX

• 1D: -0.28%
• 1M: 0.00%
• YTD: 3.45%
• 6M: 3.27%
• 1Y: 4.40%
• 3Y*: 2.50%
• 5Y*: 3.28%
• 10Y*: 4.50%

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

FRIRX vs. GRIFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRIRX Fidelity Advisor Real Estate Income Fund Class I	3.56%	7.10%	7.89%	9.36%	-14.59%	18.98%	-1.08%	17.89%	-1.81%	6.23%
GRIFX Apollo Diversified Real Estate Fund Class I	3.45%	1.14%	3.78%	-3.05%	-1.17%	22.08%	-2.69%	8.38%	4.97%	6.73%

Correlation

The correlation between FRIRX and GRIFX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Aug 10, 2015	0.82

The correlation between FRIRX and GRIFX has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.

Return for Risk

FRIRX vs. GRIFX — Risk / Return Rank

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

FRIRX

FRIRX Risk / Return Rank: 46
FRIRX Sharpe Ratio Rank: 46
FRIRX Sortino Ratio Rank: 47
FRIRX Omega Ratio Rank: 50
FRIRX Calmar Ratio Rank: 38
FRIRX Martin Ratio Rank: 49

GRIFX

GRIFX Risk / Return Rank: 27
GRIFX Sharpe Ratio Rank: 18
GRIFX Sortino Ratio Rank: 17
GRIFX Omega Ratio Rank: 18
GRIFX Calmar Ratio Rank: 52
GRIFX Martin Ratio Rank: 29

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. GRIFX - 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 Apollo Diversified Real Estate Fund Class I (GRIFX). 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	GRIFX	Difference
Sharpe ratio Return per unit of total volatility	2.00	1.25	+0.75
Sortino ratio Return per unit of downside risk	2.88	1.78	+1.11
Omega ratio Gain probability vs. loss probability	1.39	1.23	+0.16
Calmar ratio Return relative to maximum drawdown	2.36	2.78	-0.43
Martin ratio Return relative to average drawdown	10.30	6.97	+3.33
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. GRIFX - Sharpe Ratio Comparison

The current FRIRX Sharpe Ratio is 2.00, which is higher than the GRIFX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of FRIRX and GRIFX, 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

	FRIRX	GRIFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	1.25	+0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.59	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.97	-0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	1.04	-0.23

Drawdowns

FRIRX vs. GRIFX - Drawdown Comparison

The maximum FRIRX drawdown since its inception was -34.50%, which is greater than GRIFX's maximum drawdown of -14.29%. Use the drawdown chart below to compare losses from any high point for FRIRX and GRIFX.

Drawdown Indicators

	FRIRX	GRIFX	Difference
Max Drawdown Largest peak-to-trough decline	-34.50%	-14.29%	-20.21%
Max Drawdown (1Y) Largest decline over 1 year	-3.43%	-1.70%	-1.73%
Max Drawdown (3Y) Largest decline over 3 years	-7.28%	-7.28%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-18.18%	-14.29%	-3.89%
Max Drawdown (10Y) Largest decline over 10 years	-34.50%	-14.29%	-20.21%
Current Drawdown Current decline from peak	-0.48%	-2.40%	+1.92%
Average Drawdown Average peak-to-trough decline	-3.28%	-3.37%	+0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	0.68%	+0.11%

Volatility

FRIRX vs. GRIFX - Volatility Comparison

Fidelity Advisor Real Estate Income Fund Class I (FRIRX) has a higher volatility of 1.28% compared to Apollo Diversified Real Estate Fund Class I (GRIFX) at 0.89%. This indicates that FRIRX's price experiences larger fluctuations and is considered to be riskier than GRIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRIRX	GRIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.28%	0.89%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	3.14%	2.54%	+0.60%
Volatility (1Y) Calculated over the trailing 1-year period	4.06%	3.59%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.50%	5.55%	+0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.50%	4.64%	+4.86%

FRIRX vs. GRIFX - Expense Ratio Comparison

FRIRX has a 0.71% expense ratio, which is lower than GRIFX's 2.23% expense ratio.

Dividends

FRIRX vs. GRIFX - Dividend Comparison

FRIRX's dividend yield for the trailing twelve months is around 4.49%, less than GRIFX's 5.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRIRX Fidelity Advisor Real Estate Income Fund Class I	4.49%	4.62%	4.68%	5.01%	6.08%	1.48%	4.80%	5.70%	5.10%	4.43%	5.05%	3.69%
GRIFX Apollo Diversified Real Estate Fund Class I	5.20%	5.37%	5.27%	5.46%	4.14%	3.67%	5.26%	5.27%	5.29%	5.22%	5.27%	2.62%

Frequently Asked Questions

Can I hold both FRIRX and GRIFX in my portfolio?

FRIRX and GRIFX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRIRX or GRIFX?

FRIRX has higher volatility (1.28%) compared to GRIFX (0.89%). In terms of maximum drawdown, FRIRX dropped -34.50% vs GRIFX's -14.29%.

Which has better risk-adjusted returns?

FRIRX currently has the higher Sharpe Ratio (2.00 vs 1.25), 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.