FSRJX vs. FSPSX

Last updated Jun 23, 2026

FSRJX (Fidelity SAI Real Estate Fund) and FSPSX (Fidelity International Index Fund) are both mutual funds - FSRJX is a REIT fund actively managed by Fidelity, while FSPSX is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index. FSRJX is actively managed, while FSPSX is passively managed. Over the past year, FSRJX returned 11.35% vs 25.44% for FSPSX. At a 0.45 correlation, their price movements are largely independent. FSRJX charges 0.56%/yr vs 0.04%/yr for FSPSX.

Performance

FSRJX vs. FSPSX - Performance Comparison

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

Returns By Period

In the year-to-date period, FSRJX achieves a 11.45% return, which is significantly higher than FSPSX's 10.54% return.

FSRJX

• 1D: -0.10%
• 1M: -1.09%
• YTD: 11.45%
• 6M: 11.80%
• 1Y: 11.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FSPSX

• 1D: 0.76%
• 1M: 1.93%
• YTD: 10.54%
• 6M: 11.05%
• 1Y: 25.44%
• 3Y*: 16.37%
• 5Y*: 9.50%
• 10Y*: 9.67%

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

FSRJX vs. FSPSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FSRJX Fidelity SAI Real Estate Fund	11.45%	2.52%	-6.54%
FSPSX Fidelity International Index Fund	10.54%	31.98%	-4.30%

Correlation

The correlation between FSRJX and FSPSX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Sep 11, 2024	0.45

Return for Risk

FSRJX vs. FSPSX — Risk / Return Rank

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

FSRJX

FSRJX Risk / Return Rank: 13
FSRJX Sharpe Ratio Rank: 11
FSRJX Sortino Ratio Rank: 10
FSRJX Omega Ratio Rank: 10
FSRJX Calmar Ratio Rank: 18
FSRJX Martin Ratio Rank: 16

FSPSX

FSPSX Risk / Return Rank: 36
FSPSX Sharpe Ratio Rank: 36
FSPSX Sortino Ratio Rank: 35
FSPSX Omega Ratio Rank: 35
FSPSX Calmar Ratio Rank: 36
FSPSX Martin Ratio Rank: 39

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. FSPSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Real Estate Fund (FSRJX) and Fidelity International Index Fund (FSPSX). 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	FSPSX	Difference
Sharpe ratio: Return per unit of total volatility	0.81	1.61	-0.80
Sortino ratio: Return per unit of downside risk	1.19	2.28	-1.09
Omega ratio: Gain probability vs. loss probability	1.15	1.29	-0.14
Calmar ratio: Return relative to maximum drawdown	1.45	2.15	-0.70
Martin ratio: Return relative to average drawdown	4.16	8.05	-3.90

FSRJX vs. FSPSX - Sharpe Ratio Comparison

The current FSRJX Sharpe Ratio is 0.81, which is lower than the FSPSX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of FSRJX and FSPSX, 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. FSPSX - Drawdown Comparison

The maximum FSRJX drawdown since its inception was -15.66%, smaller than the maximum FSPSX drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for FSRJX and FSPSX.

Drawdown Indicators

	FSRJX	FSPSX	Difference
Max Drawdown Largest peak-to-trough decline	-15.66%	-33.69%	+18.03%
Max Drawdown (1Y) Largest decline over 1 year	-7.83%	-11.39%	+3.56%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.41%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.69%	—
Current Drawdown Current decline from peak	-2.98%	0.00%	-2.98%
Average Drawdown Average peak-to-trough decline	-4.27%	-6.53%	+2.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	3.04%	-0.33%

Volatility

FSRJX vs. FSPSX - Volatility Comparison

Fidelity SAI Real Estate Fund (FSRJX) and Fidelity International Index Fund (FSPSX) have volatilities of 5.17% and 4.93%, 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	FSPSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.17%	4.93%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	10.13%	12.71%	-2.58%
Volatility (1Y) Calculated over the trailing 1-year period	13.99%	15.26%	-1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.72%	16.07%	+0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.72%	16.56%	+0.16%

FSRJX vs. FSPSX - Expense Ratio Comparison

FSRJX has a 0.56% expense ratio, which is higher than FSPSX's 0.04% expense ratio.

Dividends

FSRJX vs. FSPSX - Dividend Comparison

FSRJX's dividend yield for the trailing twelve months is around 2.18%, less than FSPSX's 2.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSPSX Fidelity International Index Fund	2.85%	3.15%	3.27%	2.79%	2.66%	3.07%	1.84%	3.18%	2.79%	2.50%	3.08%	2.79%
FSRJX Fidelity SAI Real Estate Fund	2.18%	2.52%	2.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSRJX and FSPSX in my portfolio?

FSRJX and FSPSX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSRJX or FSPSX?

FSRJX has higher volatility (5.17%) compared to FSPSX (4.93%). In terms of maximum drawdown, FSRJX dropped -15.66% vs FSPSX's -33.69%.

Which has better risk-adjusted returns?

FSPSX currently has the higher Sharpe Ratio (1.61 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.