INDS vs. FDLS

Last updated Jun 4, 2026

INDS (Pacer Benchmark Industrial Real Estate SCTR ETF) and FDLS (Inspire Fidelis Multi Factor ETF) are both exchange-traded funds - INDS is a REIT fund tracking the Benchmark Industrial Real Estate SCTR Index, while FDLS is a Mid Cap Blend Equities fund tracking the WI Fidelis Multi-Cap, Multi-Factor Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, INDS returned 2.57%/yr vs 19.65%/yr for FDLS. A 0.55 correlation means they provide meaningful diversification when combined. INDS charges 0.60%/yr vs 0.76%/yr for FDLS.

Performance

INDS vs. FDLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Benchmark Industrial Real Estate SCTR ETF (INDS) and Inspire Fidelis Multi Factor ETF (FDLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INDS achieves a 6.59% return, which is significantly lower than FDLS's 13.12% return.

INDS

• 1D: -0.04%
• 1M: -0.04%
• YTD: 6.59%
• 6M: 5.24%
• 1Y: 9.81%
• 3Y*: 2.57%
• 5Y*: 0.82%
• 10Y*: —

FDLS

• 1D: -1.15%
• 1M: -0.93%
• YTD: 13.12%
• 6M: 13.26%
• 1Y: 33.04%
• 3Y*: 19.65%
• 5Y*: —
• 10Y*: —

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

INDS vs. FDLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
INDS Pacer Benchmark Industrial Real Estate SCTR ETF	6.59%	7.78%	-12.69%	17.72%	-14.26%
FDLS Inspire Fidelis Multi Factor ETF	13.12%	22.47%	7.41%	20.70%	-1.68%

Correlation

The correlation between INDS and FDLS is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (All Time) Calculated using the full available price history since Aug 25, 2022	0.55

The correlation between INDS and FDLS has been stable across timeframes, ranging from 0.49 to 0.55 - a consistent structural relationship.

INDS vs. FDLS - Sectors Allocation Comparison

Sectors	INDS	FDLS
Real Estate	100.0%	2.1%
Basic Materials	-	5.0%
Communication Services	-	3.3%
Consumer Cyclical	-	4.4%
Consumer Defensive	-	4.9%
Energy	-	7.1%
Financial Services	-	14.3%
Healthcare	-	11.7%
Industrials	-	18.8%
Technology	-	25.7%
Utilities	-	1.7%

Return for Risk

INDS vs. FDLS — Risk / Return Rank

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

INDS

INDS Risk / Return Rank: 19
INDS Sharpe Ratio Rank: 18
INDS Sortino Ratio Rank: 18
INDS Omega Ratio Rank: 18
INDS Calmar Ratio Rank: 19
INDS Martin Ratio Rank: 20

FDLS

FDLS Risk / Return Rank: 64
FDLS Sharpe Ratio Rank: 59
FDLS Sortino Ratio Rank: 60
FDLS Omega Ratio Rank: 57
FDLS Calmar Ratio Rank: 70
FDLS Martin Ratio Rank: 74

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.

INDS vs. FDLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Benchmark Industrial Real Estate SCTR ETF (INDS) and Inspire Fidelis Multi Factor ETF (FDLS). 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.

	INDS	FDLS	Difference
Sharpe ratio: Return per unit of total volatility	0.61	1.99	-1.38
Sortino ratio: Return per unit of downside risk	0.97	2.82	-1.85
Omega ratio: Gain probability vs. loss probability	1.11	1.35	-0.24
Calmar ratio: Return relative to maximum drawdown	0.81	3.48	-2.67
Martin ratio: Return relative to average drawdown	2.44	13.96	-11.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INDS vs. FDLS - Sharpe Ratio Comparison

The current INDS Sharpe Ratio is 0.61, which is lower than the FDLS Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of INDS and FDLS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	INDS	FDLS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.61	1.99	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.86	-0.48

Drawdowns

INDS vs. FDLS - Drawdown Comparison

The maximum INDS drawdown since its inception was -40.17%, which is greater than FDLS's maximum drawdown of -23.32%. Use the drawdown chart below to compare losses from any high point for INDS and FDLS.

Drawdown Indicators

	INDS	FDLS	Difference
Max Drawdown Largest peak-to-trough decline	-40.17%	-23.32%	-16.85%
Max Drawdown (1Y) Largest decline over 1 year	-12.23%	-9.55%	-2.68%
Max Drawdown (3Y) Largest decline over 3 years	-26.96%	-23.32%	-3.64%
Max Drawdown (5Y) Largest decline over 5 years	-40.17%	—	—
Current Drawdown Current decline from peak	-20.51%	-2.66%	-17.85%
Average Drawdown Average peak-to-trough decline	-15.57%	-3.88%	-11.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.04%	2.37%	+1.67%

Volatility

INDS vs. FDLS - Volatility Comparison

Pacer Benchmark Industrial Real Estate SCTR ETF (INDS) has a higher volatility of 5.23% compared to Inspire Fidelis Multi Factor ETF (FDLS) at 4.36%. This indicates that INDS's price experiences larger fluctuations and is considered to be riskier than FDLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INDS	FDLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.23%	4.36%	+0.87%
Volatility (6M) Calculated over the trailing 6-month period	12.10%	12.45%	-0.35%
Volatility (1Y) Calculated over the trailing 1-year period	16.23%	16.71%	-0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.16%	19.07%	+1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.11%	19.07%	+4.04%

INDS vs. FDLS - Expense Ratio Comparison

INDS has a 0.60% expense ratio, which is lower than FDLS's 0.76% expense ratio.

Dividends

INDS vs. FDLS - Dividend Comparison

INDS's dividend yield for the trailing twelve months is around 3.55%, more than FDLS's 0.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FDLS Inspire Fidelis Multi Factor ETF	0.87%	0.86%	7.26%	0.97%	0.31%	0.00%	0.00%	0.00%	0.00%
INDS Pacer Benchmark Industrial Real Estate SCTR ETF	3.55%	3.70%	3.75%	3.11%	2.63%	1.24%	1.68%	2.26%	1.81%

Frequently Asked Questions

Can I hold both INDS and FDLS in my portfolio?

INDS and FDLS have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INDS or FDLS?

INDS has higher volatility (5.23%) compared to FDLS (4.36%). In terms of maximum drawdown, INDS dropped -40.17% vs FDLS's -23.32%.

Which ETF is better, INDS or FDLS?

On 3-year performance, FDLS leads with 19.65% vs 2.57% for INDS. On fees, INDS is cheaper at 0.60% per year. On volatility, FDLS has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INDS or FDLS?

Over the 3-year period, FDLS has performed better with a 19.65% return vs 2.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INDS or FDLS?

INDS is cheaper with a 0.60% expense ratio, compared with 0.76% for FDLS.

Which ETF pays a higher dividend yield, INDS or FDLS?

INDS has the higher dividend yield at 3.55%, compared with 0.87% for FDLS.

What is the main difference between INDS and FDLS?

INDS is categorized as REIT, while FDLS is Mid Cap Blend Equities. INDS tracks Benchmark Industrial Real Estate SCTR Index, while FDLS tracks WI Fidelis Multi-Cap, Multi-Factor Index - Benchmark TR Gross. They also come from different issuers: Pacer and Inspire. Their fees differ too: 0.60% for INDS and 0.76% for FDLS.

Which has better risk-adjusted returns?

FDLS currently has the higher Sharpe Ratio (1.99 vs 0.61), 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.