HLRRX vs. FRIOX

Last updated Aug 1, 2026

HLRRX (LDR High Income Realty Fund) and FRIOX (Fidelity Advisor Real Estate Income Fund Class C) are both REIT funds. Over the past 10 years, HLRRX returned 4.24%/yr vs 3.82%/yr for FRIOX. Their correlation of 0.85 means they have usually moved in the same direction. HLRRX charges 1.14%/yr vs 1.72%/yr for FRIOX.

Performance

HLRRX vs. FRIOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LDR High Income Realty Fund (HLRRX) and Fidelity Advisor Real Estate Income Fund Class C (FRIOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HLRRX achieves a 15.27% return, which is significantly higher than FRIOX's 2.88% return. Over the past 10 years, HLRRX has outperformed FRIOX with an annualized return of 4.24%, while FRIOX has yielded a comparatively lower 3.82% annualized return.

HLRRX

• 1D: -0.30%
• 1M: 0.61%
• 6M: 11.33%
• YTD: 15.27%
• 1Y: 14.39%
• 3Y*: 6.04%
• 5Y*: 1.72%
• 10Y*: 4.24%
• ALL TIME*: 7.74%

FRIOX

• 1D: -0.33%
• 1M: -1.30%
• 6M: 2.10%
• YTD: 2.88%
• 1Y: 5.44%
• 3Y*: 6.46%
• 5Y*: 1.93%
• 10Y*: 3.82%
• ALL TIME*: 5.50%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FRIOX Fidelity Advisor Real Estate Income Fund Class C	$0.00	$0.00	$0.00
HLRRX LDR High Income Realty Fund	$0.00	$0.00	$0.00

HLRRX vs. FRIOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HLRRX LDR High Income Realty Fund	15.27%	-9.13%	9.45%	10.50%	-21.40%	40.50%	-3.78%	31.75%	-13.63%	-1.24%
FRIOX Fidelity Advisor Real Estate Income Fund Class C	2.88%	6.06%	6.79%	8.31%	-15.51%	17.80%	-2.13%	16.74%	-2.56%	5.39%

Correlation

The correlation between HLRRX and FRIOX is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (5Y) Shows whether the relationship held over a longer period.	0.81
Correlation (10Y) Provides a long-term view across more market conditions.	0.83
Correlation (All Time) Calculated using the full available price history since Apr 20, 2010	0.85

The correlation between HLRRX and FRIOX has been stable across timeframes, ranging from 0.75 to 0.85 - a consistent structural relationship.

Return for Risk

HLRRX vs. FRIOX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HLRRX

HLRRX Risk / Return Rank: 38
HLRRX Sharpe Ratio Rank: 33
HLRRX Sortino Ratio Rank: 32
HLRRX Omega Ratio Rank: 31
HLRRX Calmar Ratio Rank: 58
HLRRX Martin Ratio Rank: 37

FRIOX

FRIOX Risk / Return Rank: 40
FRIOX Sharpe Ratio Rank: 41
FRIOX Sortino Ratio Rank: 39
FRIOX Omega Ratio Rank: 42
FRIOX Calmar Ratio Rank: 35
FRIOX Martin Ratio Rank: 42

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HLRRX vs. FRIOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LDR High Income Realty Fund (HLRRX) and Fidelity Advisor Real Estate Income Fund Class C (FRIOX). 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	FRIOX	Difference
Sharpe ratio: Return per unit of total volatility	1.05	1.27	-0.22
Sortino ratio: Return per unit of downside risk	1.54	1.77	-0.23
Omega ratio: Gain probability vs. loss probability	1.19	1.24	-0.05
Calmar ratio: Return relative to maximum drawdown	2.02	1.56	+0.46
Martin ratio: Return relative to average drawdown	5.42	6.25	-0.82

HLRRX vs. FRIOX - Sharpe Ratio Comparison

The current HLRRX Sharpe Ratio is 1.05, which is comparable to the FRIOX Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of HLRRX and FRIOX, 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

HLRRX vs. FRIOX - Drawdown Comparison

The maximum HLRRX drawdown since its inception was -62.78%, which is greater than FRIOX's maximum drawdown of -34.54%. Use the drawdown chart below to compare losses from any high point for HLRRX and FRIOX.

Drawdown Indicators

	HLRRX	FRIOX	Difference
Max Drawdown Largest peak-to-trough decline	-62.78%	-34.54%	-28.24%
Max Drawdown (1Y) Largest decline over 1 year	-6.26%	-3.51%	-2.75%
Max Drawdown (3Y) Largest decline over 3 years	-21.04%	-6.33%	-14.71%
Max Drawdown (5Y) Largest decline over 5 years	-28.99%	-18.83%	-10.16%
Max Drawdown (10Y) Largest decline over 10 years	-48.13%	-34.54%	-13.59%
Current Drawdown Current decline from peak	-2.84%	-1.38%	-1.46%
Average Drawdown Average peak-to-trough decline	-8.46%	-3.60%	-4.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.33%	0.87%	+1.46%

Volatility

HLRRX vs. FRIOX - Volatility Comparison

LDR High Income Realty Fund (HLRRX) has a higher volatility of 2.54% compared to Fidelity Advisor Real Estate Income Fund Class C (FRIOX) at 1.50%. This indicates that HLRRX's price experiences larger fluctuations and is considered to be riskier than FRIOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLRRX	FRIOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	1.50%	+1.04%
Volatility (6M) Calculated over the trailing 6-month period	8.08%	3.54%	+4.54%
Volatility (1Y) Calculated over the trailing 1-year period	12.14%	4.32%	+7.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.18%	6.50%	+10.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.78%	9.50%	+11.28%

HLRRX vs. FRIOX - Expense Ratio Comparison

HLRRX has a 1.14% expense ratio, which is lower than FRIOX's 1.72% expense ratio.

Dividends

HLRRX vs. FRIOX - Dividend Comparison

HLRRX's dividend yield for the trailing twelve months is around 12.10%, more than FRIOX's 2.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRIOX Fidelity Advisor Real Estate Income Fund Class C	2.67%	3.68%	3.68%	4.09%	5.00%	1.02%	3.92%	4.76%	4.46%	3.69%	4.05%	3.11%
HLRRX LDR High Income Realty Fund	12.10%	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

Can I hold both HLRRX and FRIOX in my portfolio?

HLRRX and FRIOX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HLRRX or FRIOX?

HLRRX has higher volatility (2.54%) compared to FRIOX (1.50%). In terms of maximum drawdown, HLRRX dropped -62.78% vs FRIOX's -34.54%.

Which has better risk-adjusted returns?

FRIOX currently has the higher Sharpe Ratio (1.27 vs 1.05), 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.