FSRJX vs. SOAAX

Last updated Jun 24, 2026

FSRJX (Fidelity SAI Real Estate Fund) and SOAAX (Spirit of America Real Estate Income & Growth Fund) are both REIT funds. Over the past year, FSRJX returned 11.11% vs 13.22% for SOAAX. Their correlation of 0.92 suggests significant overlap in exposure. FSRJX charges 0.56%/yr vs 1.52%/yr for SOAAX.

Performance

FSRJX vs. SOAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI Real Estate Fund (FSRJX) and Spirit of America Real Estate Income & Growth Fund (SOAAX). 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 lower than SOAAX's 14.89% return.

FSRJX

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

SOAAX

• 1D: 1.21%
• 1M: -0.11%
• YTD: 14.89%
• 6M: 15.33%
• 1Y: 13.22%
• 3Y*: 10.72%
• 5Y*: 3.04%
• 10Y*: 5.31%

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

FSRJX vs. SOAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FSRJX Fidelity SAI Real Estate Fund	12.84%	2.52%	-6.54%
SOAAX Spirit of America Real Estate Income & Growth Fund	14.89%	-0.90%	-5.11%

Correlation

The correlation between FSRJX and SOAAX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Sep 11, 2024	0.92

The correlation between FSRJX and SOAAX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

FSRJX vs. SOAAX — 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

SOAAX

SOAAX Risk / Return Rank: 21
SOAAX Sharpe Ratio Rank: 17
SOAAX Sortino Ratio Rank: 16
SOAAX Omega Ratio Rank: 16
SOAAX Calmar Ratio Rank: 29
SOAAX Martin Ratio Rank: 25

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. SOAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Real Estate Fund (FSRJX) and Spirit of America Real Estate Income & Growth Fund (SOAAX). 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	SOAAX	Difference
Sharpe ratio: Return per unit of total volatility	0.91	1.10	-0.18
Sortino ratio: Return per unit of downside risk	1.33	1.53	-0.20
Omega ratio: Gain probability vs. loss probability	1.16	1.20	-0.03
Calmar ratio: Return relative to maximum drawdown	1.64	1.88	-0.24
Martin ratio: Return relative to average drawdown	4.71	5.58	-0.87

FSRJX vs. SOAAX - Sharpe Ratio Comparison

The current FSRJX Sharpe Ratio is 0.91, which is comparable to the SOAAX Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of FSRJX and SOAAX, 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. SOAAX - Drawdown Comparison

The maximum FSRJX drawdown since its inception was -15.66%, smaller than the maximum SOAAX drawdown of -78.19%. Use the drawdown chart below to compare losses from any high point for FSRJX and SOAAX.

Drawdown Indicators

	FSRJX	SOAAX	Difference
Max Drawdown Largest peak-to-trough decline	-15.66%	-78.19%	+62.53%
Max Drawdown (1Y) Largest decline over 1 year	-7.83%	-7.74%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.29%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.03%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.24%	—
Current Drawdown Current decline from peak	-1.77%	-3.90%	+2.13%
Average Drawdown Average peak-to-trough decline	-4.26%	-14.60%	+10.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	2.60%	+0.12%

Volatility

FSRJX vs. SOAAX - Volatility Comparison

Fidelity SAI Real Estate Fund (FSRJX) has a higher volatility of 5.14% compared to Spirit of America Real Estate Income & Growth Fund (SOAAX) at 4.65%. This indicates that FSRJX's price experiences larger fluctuations and is considered to be riskier than SOAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSRJX	SOAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	4.65%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	10.17%	9.74%	+0.43%
Volatility (1Y) Calculated over the trailing 1-year period	14.06%	13.29%	+0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.72%	18.24%	-1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.72%	19.75%	-3.03%

FSRJX vs. SOAAX - Expense Ratio Comparison

FSRJX has a 0.56% expense ratio, which is lower than SOAAX's 1.52% expense ratio.

Dividends

FSRJX vs. SOAAX - Dividend Comparison

FSRJX's dividend yield for the trailing twelve months is around 2.15%, less than SOAAX's 9.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
SOAAX Spirit of America Real Estate Income & Growth Fund	9.26%	10.64%	9.53%	9.32%	9.32%	6.12%	8.13%	7.11%	8.47%	6.87%	7.18%	8.97%

Frequently Asked Questions

Can I hold both FSRJX and SOAAX in my portfolio?

With a correlation of 0.95, FSRJX and SOAAX 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 SOAAX?

FSRJX has higher volatility (5.14%) compared to SOAAX (4.65%). In terms of maximum drawdown, FSRJX dropped -15.66% vs SOAAX's -78.19%.

Which has better risk-adjusted returns?

SOAAX currently has the higher Sharpe Ratio (1.10 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.