FSRNX vs. CCRV

Last updated Jun 13, 2026

FSRNX (Fidelity Real Estate Index Fund) and CCRV (iShares Commodity Curve Carry Strategy ETF) are both funds - FSRNX is a REIT fund tracking the MSCI US IMI Real Estate 25/25 Index, while CCRV is a Commodities fund tracking the CCRV-US - ICE BofA Commodity Enhanced Carry Index. Both are passively managed. At a 0.09 correlation, their price movements are largely independent. FSRNX charges 0.07%/yr vs 0.40%/yr for CCRV.

Performance

FSRNX vs. CCRV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Real Estate Index Fund (FSRNX) and iShares Commodity Curve Carry Strategy ETF (CCRV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FSRNX

• 1D: -0.06%
• 1M: 1.95%
• YTD: 11.22%
• 6M: 11.06%
• 1Y: 11.65%
• 3Y*: 9.93%
• 5Y*: 2.32%
• 10Y*: 4.32%

CCRV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FSRNX vs. CCRV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FSRNX Fidelity Real Estate Index Fund	11.22%	3.03%	4.99%	11.93%	-26.14%	40.66%	7.32%
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	-0.05%	5.74%	5.47%	19.91%	33.78%	7.16%

Correlation

The correlation between FSRNX and CCRV is -0.11, 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	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.00
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (All Time) Calculated using the full available price history since Sep 3, 2020	0.09

The correlation between FSRNX and CCRV shifts across timeframes, from -0.11 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FSRNX vs. CCRV — Risk / Return Rank

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

FSRNX

FSRNX Risk / Return Rank: 20
FSRNX Sharpe Ratio Rank: 17
FSRNX Sortino Ratio Rank: 17
FSRNX Omega Ratio Rank: 17
FSRNX Calmar Ratio Rank: 25
FSRNX Martin Ratio Rank: 23

CCRV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FSRNX vs. CCRV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Real Estate Index Fund (FSRNX) and iShares Commodity Curve Carry Strategy ETF (CCRV). 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.

	FSRNX	CCRV	Difference
Sharpe ratio: Return per unit of total volatility	0.90	—	—
Sortino ratio: Return per unit of downside risk	1.32	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	1.45	—	—
Martin ratio: Return relative to average drawdown	4.57	—	—

Drawdowns

Drawdown Indicators

	FSRNX	CCRV	Difference
Max Drawdown Largest peak-to-trough decline	-44.26%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.47%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-17.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.27%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.26%	—	—
Current Drawdown Current decline from peak	-0.53%	—	—
Average Drawdown Average peak-to-trough decline	-9.67%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	—	—

Volatility

Volatility by Period

	FSRNX	CCRV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.58%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.93%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.41%	—	—

FSRNX vs. CCRV - Expense Ratio Comparison

FSRNX has a 0.07% expense ratio, which is lower than CCRV's 0.40% expense ratio.

Dividends

FSRNX vs. CCRV - Dividend Comparison

FSRNX's dividend yield for the trailing twelve months is around 2.66%, while CCRV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	0.00%	4.43%	7.26%	33.27%	26.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FSRNX Fidelity Real Estate Index Fund	2.66%	2.77%	2.86%	2.84%	2.66%	1.25%	3.33%	4.52%	3.62%	2.27%	3.40%	2.57%

Frequently Asked Questions

Can I hold both FSRNX and CCRV in my portfolio?

FSRNX and CCRV have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.