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 4.96%/yr vs 12.22%/yr for USA. A 0.52 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 3.06% return, which is significantly higher than USA's 0.24% return. Over the past 10 years, FRIRX has underperformed USA with an annualized return of 4.96%, while USA has yielded a comparatively higher 12.22% annualized return.
FRIRX
- 1D
- -1.27%
- 1M
- -1.43%
- 6M
- 2.81%
- YTD
- 3.06%
- 1Y
- 6.40%
- 3Y*
- 7.65%
- 5Y*
- 3.00%
- 10Y*
- 4.96%
USA
- 1D
- 0.34%
- 1M
- 3.83%
- 6M
- -1.64%
- YTD
- 0.24%
- 1Y
- -3.40%
- 3Y*
- 6.94%
- 5Y*
- 1.37%
- 10Y*
- 12.22%
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 | 3.06% | 7.10% | 7.89% | 9.36% | -14.59% | 18.98% | -1.08% | 17.89% | -1.81% | 6.23% |
USA Liberty All-Star Equity Fund | 0.24% | 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 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
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 | 0.52 |
Over the past year, the correlation between FRIRX and USA has dropped to 0.28 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.
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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 | +1.68 | ||
| Sortino ratioReturn per unit of downside risk | +2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.97 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | -0.24 | +2.09 |
| Martin ratioReturn relative to average drawdown | 7.95 | -0.59 | +8.55 |
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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% | -14.30% | +10.87% |
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 | -1.67% | -5.15% | +3.48% |
Average DrawdownAverage peak-to-trough decline | -3.25% | -11.51% | +8.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 5.97% | -5.17% |
Volatility
FRIRX vs. USA - Volatility Comparison
The current volatility for Fidelity Advisor Real Estate Income Fund Class I (FRIRX) is 1.85%, while Liberty All-Star Equity Fund (USA) has a volatility of 4.78%. 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 | 1.85% | 4.78% | -2.93% |
Volatility (6M)Calculated over the trailing 6-month period | 3.67% | 10.84% | -7.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.43% | 13.97% | -9.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.53% | 20.19% | -13.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.51% | 22.56% | -13.05% |
Dividends
FRIRX vs. USA - Dividend Comparison
FRIRX's dividend yield for the trailing twelve months is around 3.37%, less than USA's 11.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRIRX Fidelity Advisor Real Estate Income Fund Class I | 3.37% | 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 | 11.41% | 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 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USA has higher volatility (4.78%) compared to FRIRX (1.85%). In terms of maximum drawdown, FRIRX dropped -34.50% vs USA's -69.15%.
FRIRX currently has the higher Sharpe Ratio (1.44 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.
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