FRIRX vs. USA
FRIRX (Fidelity Advisor Real Estate Income Fund Class I) is REIT fund managed by Fidelity, while USA (Liberty All-Star Equity Fund) is a stock. Over the past 10 years, FRIRX returned 5.31%/yr vs 12.30%/yr for USA. A 0.53 correlation means they provide meaningful diversification when combined.
Performance
FRIRX vs. USA - Performance Comparison
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Returns By Period
In the year-to-date period, FRIRX achieves a 3.81% return, which is significantly higher than USA's -3.80% return. Over the past 10 years, FRIRX has underperformed USA with an annualized return of 5.31%, while USA has yielded a comparatively higher 12.30% annualized return.
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%
USA
- 1D
- -1.38%
- 1M
- -1.55%
- YTD
- -3.80%
- 6M
- -3.34%
- 1Y
- -2.47%
- 3Y*
- 7.46%
- 5Y*
- 1.42%
- 10Y*
- 12.30%
FRIRX vs. USA - 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% |
USA Liberty All-Star Equity Fund | -3.80% | 0.09% | 20.81% | 23.17% | -25.20% | 33.76% | 12.89% | 39.70% | -5.06% | 34.66% |
Correlation
The correlation between FRIRX and USA is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2010 | 0.53 |
The correlation between FRIRX and USA shifts across timeframes, from 0.33 (1 year) to 0.53 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FRIRX vs. USA — Risk / Return Rank
FRIRX
USA
FRIRX vs. USA - 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 Liberty All-Star Equity Fund (USA). 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 | USA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.06 | ||
| Sortino ratioReturn per unit of downside risk | +2.86 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 0.98 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | -0.16 | +2.45 |
| Martin ratioReturn relative to average drawdown | 9.92 | -0.38 | +10.30 |
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Drawdowns
FRIRX vs. USA - Drawdown Comparison
The maximum FRIRX drawdown since its inception was -34.50%, smaller than the maximum USA drawdown of -69.15%. Use the drawdown chart below to compare losses from any high point for FRIRX and USA.
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Drawdown Indicators
| FRIRX | USA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.50% | -69.15% | +34.65% |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | -15.28% | +11.85% |
Max Drawdown (3Y)Largest decline over 3 years | -7.28% | -17.69% | +10.41% |
Max Drawdown (5Y)Largest decline over 5 years | -18.18% | -34.05% | +15.87% |
Max Drawdown (10Y)Largest decline over 10 years | -34.50% | -47.07% | +12.57% |
Current DrawdownCurrent decline from peak | -0.72% | -8.97% | +8.25% |
Average DrawdownAverage peak-to-trough decline | -3.26% | -11.51% | +8.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 6.50% | -5.71% |
Volatility
FRIRX vs. USA - Volatility Comparison
The current volatility for Fidelity Advisor Real Estate Income Fund Class I (FRIRX) is 1.40%, while Liberty All-Star Equity Fund (USA) has a volatility of 4.42%. This indicates that FRIRX experiences smaller price fluctuations and is considered to be less risky than USA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRIRX | USA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 4.42% | -3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 3.30% | 10.75% | -7.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 13.92% | -9.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.51% | 20.30% | -13.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.50% | 22.59% | -13.09% |
Dividends
FRIRX vs. USA - Dividend Comparison
FRIRX's dividend yield for the trailing twelve months is around 4.48%, less than USA's 11.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
USA Liberty All-Star Equity Fund | 11.89% | 10.67% | 10.22% | 9.56% | 12.11% | 9.67% | 9.13% | 9.75% | 12.64% | 8.89% | 9.30% | 9.53% |
Frequently Asked Questions
FRIRX and USA have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USA has higher volatility (4.42%) compared to FRIRX (1.40%). In terms of maximum drawdown, FRIRX dropped -34.50% vs USA's -69.15%.
FRIRX currently has the higher Sharpe Ratio (1.88 vs -0.18), 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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