FSRNX vs. IVRSX
FSRNX (Fidelity Real Estate Index Fund) and IVRSX (VY CBRE Real Estate Portfolio) are both REIT funds. Over the past 10 years, FSRNX returned 4.09%/yr vs 5.41%/yr for IVRSX. With a 0.97 correlation, they move nearly in lockstep. FSRNX charges 0.07%/yr vs 0.93%/yr for IVRSX.
Performance
FSRNX vs. IVRSX - Performance Comparison
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Returns By Period
In the year-to-date period, FSRNX achieves a 9.98% return, which is significantly lower than IVRSX's 15.96% return. Over the past 10 years, FSRNX has underperformed IVRSX with an annualized return of 4.09%, while IVRSX has yielded a comparatively higher 5.41% annualized return.
FSRNX
- 1D
- 0.97%
- 1M
- -0.16%
- YTD
- 9.98%
- 6M
- 10.39%
- 1Y
- 9.86%
- 3Y*
- 10.66%
- 5Y*
- 2.47%
- 10Y*
- 4.09%
IVRSX
- 1D
- 1.28%
- 1M
- 0.54%
- YTD
- 15.96%
- 6M
- 16.29%
- 1Y
- 15.63%
- 3Y*
- 11.12%
- 5Y*
- 3.88%
- 10Y*
- 5.41%
FSRNX vs. IVRSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSRNX Fidelity Real Estate Index Fund | 9.98% | 3.03% | 4.99% | 11.93% | -26.14% | 40.66% | -11.31% | 23.78% | -4.91% | 3.15% |
IVRSX VY CBRE Real Estate Portfolio | 15.96% | -0.01% | 4.32% | 14.11% | -27.22% | 51.91% | -6.66% | 28.15% | -10.29% | 5.20% |
Correlation
The correlation between FSRNX and IVRSX is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011 | 0.97 |
The correlation between FSRNX and IVRSX has been stable across timeframes, ranging from 0.87 to 0.97 - a consistent structural relationship.
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Return for Risk
FSRNX vs. IVRSX — Risk / Return Rank
FSRNX
IVRSX
FSRNX vs. IVRSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Real Estate Index Fund (FSRNX) and VY CBRE Real Estate Portfolio (IVRSX). 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 | IVRSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.23 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 2.42 | -1.06 |
| Martin ratioReturn relative to average drawdown | 4.25 | 7.47 | -3.21 |
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Drawdowns
FSRNX vs. IVRSX - Drawdown Comparison
The maximum FSRNX drawdown since its inception was -44.26%, smaller than the maximum IVRSX drawdown of -73.77%. Use the drawdown chart below to compare losses from any high point for FSRNX and IVRSX.
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Drawdown Indicators
| FSRNX | IVRSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.26% | -73.77% | +29.51% |
Max Drawdown (1Y)Largest decline over 1 year | -8.47% | -7.74% | -0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -17.49% | -19.29% | +1.80% |
Max Drawdown (5Y)Largest decline over 5 years | -34.27% | -34.51% | +0.24% |
Max Drawdown (10Y)Largest decline over 10 years | -44.26% | -45.19% | +0.93% |
Current DrawdownCurrent decline from peak | -2.11% | -1.25% | -0.86% |
Average DrawdownAverage peak-to-trough decline | -9.66% | -11.91% | +2.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 2.44% | +0.25% |
Volatility
FSRNX vs. IVRSX - Volatility Comparison
Fidelity Real Estate Index Fund (FSRNX) and VY CBRE Real Estate Portfolio (IVRSX) have volatilities of 4.99% and 5.04%, 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.
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Volatility by Period
| FSRNX | IVRSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.99% | 5.04% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 10.22% | 10.21% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.86% | 14.18% | -0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.94% | 19.67% | -0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.44% | 21.58% | -0.14% |
FSRNX vs. IVRSX - Expense Ratio Comparison
FSRNX has a 0.07% expense ratio, which is lower than IVRSX's 0.93% expense ratio.
Dividends
FSRNX vs. IVRSX - Dividend Comparison
FSRNX's dividend yield for the trailing twelve months is around 2.69%, less than IVRSX's 4.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSRNX Fidelity Real Estate Index Fund | 2.69% | 2.77% | 2.86% | 2.84% | 2.66% | 1.25% | 3.33% | 4.52% | 3.62% | 2.27% | 3.40% | 2.57% |
IVRSX VY CBRE Real Estate Portfolio | 4.24% | 2.74% | 2.50% | 8.77% | 26.34% | 1.46% | 13.92% | 2.44% | 11.42% | 2.07% | 1.57% | 1.31% |
Frequently Asked Questions
FSRNX and IVRSX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVRSX has higher volatility (5.04%) compared to FSRNX (4.99%). In terms of maximum drawdown, FSRNX dropped -44.26% vs IVRSX's -73.77%.
IVRSX currently has the higher Sharpe Ratio (1.32 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.
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