FSREX vs. CSRIX

Last updated Jun 3, 2026

FSREX (Fidelity Series Real Estate Income Fund) and CSRIX (Cohen & Steers Institutional Realty Shares) are both REIT funds. Over the past 10 years, FSREX returned 5.36%/yr vs 7.25%/yr for CSRIX. A 0.73 correlation means they provide meaningful diversification when combined. FSREX charges 0.00%/yr vs 0.76%/yr for CSRIX.

Performance

FSREX vs. CSRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Real Estate Income Fund (FSREX) and Cohen & Steers Institutional Realty Shares (CSRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSREX achieves a 1.59% return, which is significantly lower than CSRIX's 11.17% return. Over the past 10 years, FSREX has underperformed CSRIX with an annualized return of 5.36%, while CSRIX has yielded a comparatively higher 7.25% annualized return.

FSREX

• 1D: 0.10%
• 1M: 0.29%
• YTD: 1.59%
• 6M: 2.16%
• 1Y: 7.79%
• 3Y*: 8.75%
• 5Y*: 4.23%
• 10Y*: 5.36%

CSRIX

• 1D: -1.78%
• 1M: -1.91%
• YTD: 11.17%
• 6M: 10.24%
• 1Y: 10.34%
• 3Y*: 10.33%
• 5Y*: 3.73%
• 10Y*: 7.25%

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

FSREX vs. CSRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSREX Fidelity Series Real Estate Income Fund	1.59%	8.93%	9.87%	8.29%	-11.78%	15.78%	0.58%	16.02%	-0.73%	5.91%
CSRIX Cohen & Steers Institutional Realty Shares	11.17%	3.10%	6.26%	12.75%	-25.15%	42.40%	-2.55%	36.11%	-4.68%	6.71%

Correlation

The correlation between FSREX and CSRIX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jan 5, 2015	0.73

Over the past year, the correlation between FSREX and CSRIX has dropped to 0.38 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.

Return for Risk

FSREX vs. CSRIX — Risk / Return Rank

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

FSREX

FSREX Risk / Return Rank: 88
FSREX Sharpe Ratio Rank: 92
FSREX Sortino Ratio Rank: 93
FSREX Omega Ratio Rank: 89
FSREX Calmar Ratio Rank: 80
FSREX Martin Ratio Rank: 85

CSRIX

CSRIX Risk / Return Rank: 11
CSRIX Sharpe Ratio Rank: 9
CSRIX Sortino Ratio Rank: 9
CSRIX Omega Ratio Rank: 9
CSRIX Calmar Ratio Rank: 16
CSRIX Martin Ratio Rank: 13

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.

FSREX vs. CSRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Real Estate Income Fund (FSREX) and Cohen & Steers Institutional Realty Shares (CSRIX). 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.

	FSREX	CSRIX	Difference
Sharpe ratio Return per unit of total volatility	3.08	0.79	+2.30
Sortino ratio Return per unit of downside risk	4.78	1.13	+3.64
Omega ratio Gain probability vs. loss probability	1.63	1.14	+0.49
Calmar ratio Return relative to maximum drawdown	3.68	1.51	+2.16
Martin ratio Return relative to average drawdown	16.22	4.02	+12.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSREX vs. CSRIX - Sharpe Ratio Comparison

The current FSREX Sharpe Ratio is 3.08, which is higher than the CSRIX Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of FSREX and CSRIX, 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

	FSREX	CSRIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.08	0.79	+2.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.20	+0.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.36	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.35	+0.60

Drawdowns

FSREX vs. CSRIX - Drawdown Comparison

The maximum FSREX drawdown since its inception was -32.02%, smaller than the maximum CSRIX drawdown of -41.45%. Use the drawdown chart below to compare losses from any high point for FSREX and CSRIX.

Drawdown Indicators

	FSREX	CSRIX	Difference
Max Drawdown Largest peak-to-trough decline	-32.02%	-41.45%	+9.43%
Max Drawdown (1Y) Largest decline over 1 year	-2.06%	-7.74%	+5.68%
Max Drawdown (3Y) Largest decline over 3 years	-5.12%	-16.89%	+11.77%
Max Drawdown (5Y) Largest decline over 5 years	-15.22%	-31.79%	+16.57%
Max Drawdown (10Y) Largest decline over 10 years	-32.02%	-41.45%	+9.43%
Current Drawdown Current decline from peak	0.00%	-3.27%	+3.27%
Average Drawdown Average peak-to-trough decline	-2.55%	-8.80%	+6.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	2.92%	-2.45%

Volatility

FSREX vs. CSRIX - Volatility Comparison

The current volatility for Fidelity Series Real Estate Income Fund (FSREX) is 0.86%, while Cohen & Steers Institutional Realty Shares (CSRIX) has a volatility of 3.68%. This indicates that FSREX experiences smaller price fluctuations and is considered to be less risky than CSRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSREX	CSRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	3.68%	-2.82%
Volatility (6M) Calculated over the trailing 6-month period	1.85%	10.14%	-8.29%
Volatility (1Y) Calculated over the trailing 1-year period	2.47%	13.47%	-11.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.77%	18.59%	-13.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.89%	20.49%	-12.60%

FSREX vs. CSRIX - Expense Ratio Comparison

FSREX has a 0.00% expense ratio, which is lower than CSRIX's 0.76% expense ratio.

Dividends

FSREX vs. CSRIX - Dividend Comparison

FSREX's dividend yield for the trailing twelve months is around 5.58%, more than CSRIX's 2.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSRIX Cohen & Steers Institutional Realty Shares	2.88%	3.14%	2.97%	3.04%	4.28%	3.87%	4.91%	12.97%	5.45%	6.28%	12.61%	13.63%
FSREX Fidelity Series Real Estate Income Fund	5.58%	5.64%	6.05%	7.43%	9.99%	3.58%	6.24%	6.62%	5.87%	5.49%	5.22%	4.33%

Frequently Asked Questions

Can I hold both FSREX and CSRIX in my portfolio?

FSREX and CSRIX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSREX or CSRIX?

CSRIX has higher volatility (3.68%) compared to FSREX (0.86%). In terms of maximum drawdown, FSREX dropped -32.02% vs CSRIX's -41.45%.

Which has better risk-adjusted returns?

FSREX currently has the higher Sharpe Ratio (3.08 vs 0.79), 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.