FSREX vs. FRESX
FSREX (Fidelity Series Real Estate Income Fund) and FRESX (Fidelity Real Estate Investment Portfolio) are both REIT funds from Fidelity. Over the past 10 years, FSREX returned 5.34%/yr vs 5.16%/yr for FRESX. A 0.74 correlation means they provide meaningful diversification when combined. FSREX charges 0.00%/yr vs 0.71%/yr for FRESX.
Performance
FSREX vs. FRESX - Performance Comparison
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Returns By Period
In the year-to-date period, FSREX achieves a 1.91% return, which is significantly lower than FRESX's 11.41% return. Both investments have delivered pretty close results over the past 10 years, with FSREX having a 5.34% annualized return and FRESX not far behind at 5.16%.
FSREX
- 1D
- 0.20%
- 1M
- 0.81%
- YTD
- 1.91%
- 6M
- 2.01%
- 1Y
- 7.07%
- 3Y*
- 8.75%
- 5Y*
- 4.15%
- 10Y*
- 5.34%
FRESX
- 1D
- -0.07%
- 1M
- -0.99%
- YTD
- 11.41%
- 6M
- 11.89%
- 1Y
- 11.31%
- 3Y*
- 9.05%
- 5Y*
- 3.52%
- 10Y*
- 5.16%
FSREX vs. FRESX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSREX Fidelity Series Real Estate Income Fund | 1.91% | 8.93% | 9.87% | 8.29% | -11.78% | 15.78% | 0.58% | 16.02% | -0.73% | 5.91% |
FRESX Fidelity Real Estate Investment Portfolio | 11.41% | 2.54% | 5.87% | 10.82% | -24.36% | 42.34% | -7.93% | 25.22% | -4.48% | 4.28% |
Correlation
The correlation between FSREX and FRESX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
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 Oct 24, 2011 | 0.74 |
Over the past year, the correlation between FSREX and FRESX has dropped to 0.41 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.
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Return for Risk
FSREX vs. FRESX — Risk / Return Rank
FSREX
FRESX
FSREX vs. FRESX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Real Estate Income Fund (FSREX) and Fidelity Real Estate Investment Portfolio (FRESX). 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.
| FSREX | FRESX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.16 | ||
| Sortino ratioReturn per unit of downside risk | +3.39 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.15 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 1.45 | +2.05 |
| Martin ratioReturn relative to average drawdown | 15.40 | 4.15 | +11.25 |
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Drawdowns
FSREX vs. FRESX - Drawdown Comparison
The maximum FSREX drawdown since its inception was -32.02%, smaller than the maximum FRESX drawdown of -76.34%. Use the drawdown chart below to compare losses from any high point for FSREX and FRESX.
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Drawdown Indicators
| FSREX | FRESX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.02% | -76.34% | +44.32% |
Max Drawdown (1Y)Largest decline over 1 year | -2.06% | -7.78% | +5.72% |
Max Drawdown (3Y)Largest decline over 3 years | -5.12% | -16.44% | +11.32% |
Max Drawdown (5Y)Largest decline over 5 years | -15.22% | -32.13% | +16.91% |
Max Drawdown (10Y)Largest decline over 10 years | -32.02% | -40.93% | +8.91% |
Current DrawdownCurrent decline from peak | 0.00% | -2.89% | +2.89% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -11.11% | +8.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 2.71% | -2.24% |
Volatility
FSREX vs. FRESX - Volatility Comparison
The current volatility for Fidelity Series Real Estate Income Fund (FSREX) is 0.64%, while Fidelity Real Estate Investment Portfolio (FRESX) has a volatility of 5.12%. This indicates that FSREX experiences smaller price fluctuations and is considered to be less risky than FRESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSREX | FRESX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 5.12% | -4.48% |
Volatility (6M)Calculated over the trailing 6-month period | 1.87% | 10.03% | -8.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.43% | 13.87% | -11.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.76% | 18.78% | -14.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.89% | 20.59% | -12.70% |
FSREX vs. FRESX - Expense Ratio Comparison
FSREX has a 0.00% expense ratio, which is lower than FRESX's 0.71% expense ratio.
Dividends
FSREX vs. FRESX - Dividend Comparison
FSREX's dividend yield for the trailing twelve months is around 5.06%, more than FRESX's 4.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRESX Fidelity Real Estate Investment Portfolio | 4.21% | 4.64% | 5.58% | 6.95% | 10.16% | 3.70% | 4.77% | 6.91% | 4.23% | 4.00% | 4.90% | 6.09% |
FSREX Fidelity Series Real Estate Income Fund | 5.06% | 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
FSREX and FRESX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRESX has higher volatility (5.12%) compared to FSREX (0.64%). In terms of maximum drawdown, FSREX dropped -32.02% vs FRESX's -76.34%.
FSREX currently has the higher Sharpe Ratio (2.97 vs 0.81), 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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