HLRRX vs. FRIFX
HLRRX (LDR Real Estate Value Opportunity Fund) and FRIFX (Fidelity Real Estate Income Fund) are both REIT funds. Over the past 10 years, HLRRX returned 5.01%/yr vs 5.34%/yr for FRIFX. Their correlation of 0.84 suggests significant overlap in exposure. HLRRX charges 1.14%/yr vs 0.71%/yr for FRIFX.
Performance
HLRRX vs. FRIFX - Performance Comparison
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Returns By Period
In the year-to-date period, HLRRX achieves a 15.25% return, which is significantly higher than FRIFX's 3.88% return. Over the past 10 years, HLRRX has underperformed FRIFX with an annualized return of 5.01%, while FRIFX has yielded a comparatively higher 5.34% annualized return.
HLRRX
- 1D
- 0.79%
- 1M
- 1.19%
- YTD
- 15.25%
- 6M
- 16.52%
- 1Y
- 11.49%
- 3Y*
- 8.94%
- 5Y*
- 2.06%
- 10Y*
- 5.01%
FRIFX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 3.88%
- 6M
- 4.23%
- 1Y
- 7.33%
- 3Y*
- 8.74%
- 5Y*
- 3.46%
- 10Y*
- 5.34%
HLRRX vs. FRIFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HLRRX LDR Real Estate Value Opportunity Fund | 15.25% | -9.13% | 9.45% | 10.50% | -21.40% | 40.50% | -3.78% | 31.75% | -13.63% | -1.24% |
FRIFX Fidelity Real Estate Income Fund | 3.88% | 7.16% | 7.93% | 9.32% | -14.54% | 18.90% | -1.09% | 17.92% | -1.80% | 6.20% |
Correlation
The correlation between HLRRX and FRIFX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2003 | 0.84 |
The correlation between HLRRX and FRIFX has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.
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Return for Risk
HLRRX vs. FRIFX — Risk / Return Rank
HLRRX
FRIFX
HLRRX vs. FRIFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for LDR Real Estate Value Opportunity Fund (HLRRX) and Fidelity Real Estate Income Fund (FRIFX). 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.
| HLRRX | FRIFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.35 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 2.29 | -0.42 |
| Martin ratioReturn relative to average drawdown | 4.24 | 10.00 | -5.76 |
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Drawdowns
HLRRX vs. FRIFX - Drawdown Comparison
The maximum HLRRX drawdown since its inception was -62.78%, which is greater than FRIFX's maximum drawdown of -38.27%. Use the drawdown chart below to compare losses from any high point for HLRRX and FRIFX.
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Drawdown Indicators
| HLRRX | FRIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.78% | -38.27% | -24.51% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -3.42% | -3.30% |
Max Drawdown (3Y)Largest decline over 3 years | -21.04% | -7.24% | -13.80% |
Max Drawdown (5Y)Largest decline over 5 years | -28.99% | -18.12% | -10.87% |
Max Drawdown (10Y)Largest decline over 10 years | -48.13% | -34.50% | -13.63% |
Current DrawdownCurrent decline from peak | -2.85% | -0.63% | -2.22% |
Average DrawdownAverage peak-to-trough decline | -8.48% | -4.25% | -4.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 0.78% | +2.18% |
Volatility
HLRRX vs. FRIFX - Volatility Comparison
LDR Real Estate Value Opportunity Fund (HLRRX) has a higher volatility of 3.48% compared to Fidelity Real Estate Income Fund (FRIFX) at 1.26%. This indicates that HLRRX's price experiences larger fluctuations and is considered to be riskier than FRIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HLRRX | FRIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | 1.26% | +2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 8.22% | 3.26% | +4.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.61% | 4.19% | +8.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.38% | 6.47% | +10.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.82% | 9.48% | +11.34% |
HLRRX vs. FRIFX - Expense Ratio Comparison
HLRRX has a 1.14% expense ratio, which is higher than FRIFX's 0.71% expense ratio.
Dividends
HLRRX vs. FRIFX - Dividend Comparison
HLRRX's dividend yield for the trailing twelve months is around 9.50%, more than FRIFX's 4.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRIFX Fidelity Real Estate Income Fund | 4.55% | 4.69% | 4.65% | 4.99% | 6.04% | 1.47% | 4.77% | 5.68% | 5.08% | 4.40% | 4.98% | 3.65% |
HLRRX LDR Real Estate Value Opportunity Fund | 9.50% | 9.39% | 4.93% | 5.50% | 13.71% | 17.02% | 9.10% | 2.44% | 2.68% | 17.61% | 15.94% | 10.13% |
Frequently Asked Questions
HLRRX and FRIFX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HLRRX has higher volatility (3.48%) compared to FRIFX (1.26%). In terms of maximum drawdown, HLRRX dropped -62.78% vs FRIFX's -38.27%.
FRIFX currently has the higher Sharpe Ratio (1.87 vs 1.00), 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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