FSRJX vs. FESIX

Last updated Jun 24, 2026

FSRJX (Fidelity SAI Real Estate Fund) and FESIX (Fidelity SAI Real Estate Index Fund) are both REIT funds from Fidelity. Over the past year, FSRJX returned 11.11% vs 9.87% for FESIX. With a 0.96 correlation, they move nearly in lockstep. FSRJX charges 0.56%/yr vs 0.07%/yr for FESIX.

Performance

FSRJX vs. FESIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI Real Estate Fund (FSRJX) and Fidelity SAI Real Estate Index Fund (FESIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSRJX achieves a 12.84% return, which is significantly higher than FESIX's 9.92% return.

FSRJX

• 1D: 1.25%
• 1M: 0.14%
• YTD: 12.84%
• 6M: 13.32%
• 1Y: 11.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FESIX

• 1D: 1.10%
• 1M: -0.16%
• YTD: 9.92%
• 6M: 10.36%
• 1Y: 9.87%
• 3Y*: 10.52%
• 5Y*: 2.33%
• 10Y*: —

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

FSRJX vs. FESIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FSRJX Fidelity SAI Real Estate Fund	12.84%	2.52%	-6.54%
FESIX Fidelity SAI Real Estate Index Fund	9.92%	3.09%	-6.78%

Correlation

The correlation between FSRJX and FESIX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Sep 11, 2024	0.96

The correlation between FSRJX and FESIX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

FSRJX vs. FESIX — Risk / Return Rank

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

FSRJX

FSRJX Risk / Return Rank: 16
FSRJX Sharpe Ratio Rank: 13
FSRJX Sortino Ratio Rank: 12
FSRJX Omega Ratio Rank: 12
FSRJX Calmar Ratio Rank: 23
FSRJX Martin Ratio Rank: 20

FESIX

FESIX Risk / Return Rank: 13
FESIX Sharpe Ratio Rank: 11
FESIX Sortino Ratio Rank: 11
FESIX Omega Ratio Rank: 11
FESIX Calmar Ratio Rank: 17
FESIX Martin Ratio Rank: 17

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.

FSRJX vs. FESIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Real Estate Fund (FSRJX) and Fidelity SAI Real Estate Index Fund (FESIX). 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.

	FSRJX	FESIX	Difference
Sharpe ratio: Return per unit of total volatility	0.91	0.83	+0.08
Sortino ratio: Return per unit of downside risk	1.33	1.21	+0.12
Omega ratio: Gain probability vs. loss probability	1.16	1.15	+0.01
Calmar ratio: Return relative to maximum drawdown	1.64	1.36	+0.28
Martin ratio: Return relative to average drawdown	4.71	4.21	+0.50

FSRJX vs. FESIX - Sharpe Ratio Comparison

The current FSRJX Sharpe Ratio is 0.91, which is comparable to the FESIX Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of FSRJX and FESIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FSRJX vs. FESIX - Drawdown Comparison

The maximum FSRJX drawdown since its inception was -15.66%, smaller than the maximum FESIX drawdown of -44.22%. Use the drawdown chart below to compare losses from any high point for FSRJX and FESIX.

Drawdown Indicators

	FSRJX	FESIX	Difference
Max Drawdown Largest peak-to-trough decline	-15.66%	-44.22%	+28.56%
Max Drawdown (1Y) Largest decline over 1 year	-7.83%	-8.42%	+0.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.48%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.51%	—
Current Drawdown Current decline from peak	-1.77%	-2.35%	+0.58%
Average Drawdown Average peak-to-trough decline	-4.26%	-11.34%	+7.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	2.72%	0.00%

Volatility

FSRJX vs. FESIX - Volatility Comparison

Fidelity SAI Real Estate Fund (FSRJX) and Fidelity SAI Real Estate Index Fund (FESIX) have volatilities of 5.14% and 5.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSRJX	FESIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	5.14%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	10.17%	10.20%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	14.06%	13.85%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.72%	18.98%	-2.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.72%	21.72%	-5.00%

FSRJX vs. FESIX - Expense Ratio Comparison

FSRJX has a 0.56% expense ratio, which is higher than FESIX's 0.07% expense ratio.

Dividends

FSRJX vs. FESIX - Dividend Comparison

FSRJX's dividend yield for the trailing twelve months is around 2.15%, less than FESIX's 2.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FESIX Fidelity SAI Real Estate Index Fund	2.88%	3.09%	52.40%	3.87%	55.39%	5.01%	2.71%	3.78%	3.15%	2.21%
FSRJX Fidelity SAI Real Estate Fund	2.15%	2.52%	2.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSRJX and FESIX in my portfolio?

With a correlation of 0.97, FSRJX and FESIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FSRJX or FESIX?

FESIX has higher volatility (5.14%) compared to FSRJX (5.14%). In terms of maximum drawdown, FSRJX dropped -15.66% vs FESIX's -44.22%.

Which has better risk-adjusted returns?

FSRJX currently has the higher Sharpe Ratio (0.91 vs 0.83), 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.