FSRJX vs. QREARX
FSRJX (Fidelity SAI Real Estate Fund) and QREARX (TIAA Real Estate Account) are both REIT funds. Both are actively managed. Over the past year, FSRJX returned 11.11% vs 3.26% for QREARX. At a correlation of -0.12, they often move in opposite directions. FSRJX charges 0.56%/yr vs 0.90%/yr for QREARX.
Performance
FSRJX vs. QREARX - Performance Comparison
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Returns By Period
In the year-to-date period, FSRJX achieves a 12.84% return, which is significantly higher than QREARX's 1.22% return.
FSRJX
- 1D
- 1.25%
- 1M
- 0.14%
- YTD
- 12.84%
- 6M
- 13.32%
- 1Y
- 11.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QREARX
- 1D
- 0.20%
- 1M
- 0.21%
- YTD
- 1.22%
- 6M
- 1.29%
- 1Y
- 3.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FSRJX vs. QREARX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FSRJX Fidelity SAI Real Estate Fund | 12.84% | 3.62% |
QREARX TIAA Real Estate Account | 1.22% | 3.93% |
Correlation
The correlation between FSRJX and QREARX is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2025 | -0.12 |
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Return for Risk
FSRJX vs. QREARX — Risk / Return Rank
FSRJX
QREARX
FSRJX vs. QREARX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Real Estate Fund (FSRJX) and TIAA Real Estate Account (QREARX). 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 | QREARX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.32 | ||
| Sortino ratioReturn per unit of downside risk | -5.32 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 2.49 | -1.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.64 | 9.10 | -7.46 |
| Martin ratioReturn relative to average drawdown | 4.71 | 33.12 | -28.41 |
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Drawdowns
FSRJX vs. QREARX - Drawdown Comparison
The maximum FSRJX drawdown since its inception was -15.66%, which is greater than QREARX's maximum drawdown of -1.45%. Use the drawdown chart below to compare losses from any high point for FSRJX and QREARX.
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Drawdown Indicators
| FSRJX | QREARX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.66% | -1.45% | -14.21% |
Max Drawdown (1Y)Largest decline over 1 year | -7.83% | -0.37% | -7.46% |
Current DrawdownCurrent decline from peak | -1.77% | 0.00% | -1.77% |
Average DrawdownAverage peak-to-trough decline | -4.26% | -0.06% | -4.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.72% | 0.10% | +2.62% |
Volatility
FSRJX vs. QREARX - Volatility Comparison
Fidelity SAI Real Estate Fund (FSRJX) has a higher volatility of 5.14% compared to TIAA Real Estate Account (QREARX) at 0.23%. This indicates that FSRJX's price experiences larger fluctuations and is considered to be riskier than QREARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSRJX | QREARX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.14% | 0.23% | +4.91% |
Volatility (6M)Calculated over the trailing 6-month period | 10.17% | 0.49% | +9.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.06% | 0.79% | +13.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.72% | 1.64% | +15.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.72% | 1.64% | +15.08% |
FSRJX vs. QREARX - Expense Ratio Comparison
FSRJX has a 0.56% expense ratio, which is lower than QREARX's 0.90% expense ratio.
Dividends
FSRJX vs. QREARX - Dividend Comparison
FSRJX's dividend yield for the trailing twelve months is around 2.15%, while QREARX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FSRJX Fidelity SAI Real Estate Fund | 2.15% | 2.52% | 2.09% |
QREARX TIAA Real Estate Account | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FSRJX and QREARX have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSRJX has higher volatility (5.14%) compared to QREARX (0.23%). In terms of maximum drawdown, FSRJX dropped -15.66% vs QREARX's -1.45%.
QREARX currently has the higher Sharpe Ratio (4.23 vs 0.91), 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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