IRSAX vs. FRESX
IRSAX (Delaware Ivy Securian Real Estate Securities Fund) and FRESX (Fidelity Real Estate Investment Portfolio) are both REIT funds. Over the past 10 years, IRSAX returned 7.23%/yr vs 4.82%/yr for FRESX. Their 0.98 correlation means they have historically moved very closely together. IRSAX charges 1.20%/yr vs 0.64%/yr for FRESX.
Performance
IRSAX vs. FRESX - Performance Comparison
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Returns By Period
In the year-to-date period, IRSAX achieves a 20.26% return, which is significantly higher than FRESX's 15.64% return. Over the past 10 years, IRSAX has outperformed FRESX with an annualized return of 7.23%, while FRESX has yielded a comparatively lower 4.82% annualized return.
IRSAX
- 1D
- -1.04%
- 1M
- 1.20%
- 6M
- 18.14%
- YTD
- 20.26%
- 1Y
- 27.07%
- 3Y*
- 17.83%
- 5Y*
- 7.61%
- 10Y*
- 7.23%
- ALL TIME*
- 8.64%
FRESX
- 1D
- -0.68%
- 1M
- 0.97%
- 6M
- 13.13%
- YTD
- 15.64%
- 1Y
- 16.80%
- 3Y*
- 9.78%
- 5Y*
- 3.20%
- 10Y*
- 4.82%
- ALL TIME*
- 8.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
IRSAX vs. FRESX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IRSAX Delaware Ivy Securian Real Estate Securities Fund | 20.26% | 7.28% | 23.62% | 9.53% | -25.47% | 43.57% | -3.51% | 24.13% | -5.69% | 5.29% |
FRESX Fidelity Real Estate Investment Portfolio | 15.64% | 2.54% | 5.87% | 10.82% | -24.36% | 42.34% | -7.93% | 25.22% | -4.48% | 4.28% |
Correlation
The correlation between IRSAX and FRESX is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.94 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 1999 | 0.98 |
The correlation between IRSAX and FRESX has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.
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Return for Risk
IRSAX vs. FRESX — Risk / Return Rank
IRSAX
FRESX
IRSAX vs. FRESX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Securian Real Estate Securities Fund (IRSAX) and Fidelity Real Estate Investment Portfolio (FRESX). 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.
| IRSAX | FRESX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.21 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | 2.09 | +1.04 |
| Martin ratioReturn relative to average drawdown | 11.98 | 6.45 | +5.54 |
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Drawdowns
IRSAX vs. FRESX - Drawdown Comparison
The maximum IRSAX drawdown since its inception was -72.03%, smaller than the maximum FRESX drawdown of -76.34%. Use the drawdown chart below to compare losses from any high point for IRSAX and FRESX.
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Drawdown Indicators
| IRSAX | FRESX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.03% | -76.34% | +4.31% |
Max Drawdown (1Y)Largest decline over 1 year | -8.04% | -7.78% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -16.11% | -16.44% | +0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -37.56% | -32.13% | -5.43% |
Max Drawdown (10Y)Largest decline over 10 years | -40.71% | -40.93% | +0.22% |
Current DrawdownCurrent decline from peak | -2.50% | -1.91% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -13.17% | -11.08% | -2.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.10% | 2.52% | -0.42% |
Volatility
IRSAX vs. FRESX - Volatility Comparison
Delaware Ivy Securian Real Estate Securities Fund (IRSAX) and Fidelity Real Estate Investment Portfolio (FRESX) have volatilities of 4.43% and 4.40%, 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
| IRSAX | FRESX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.43% | 4.40% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 10.71% | 10.68% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.48% | 13.94% | -0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.62% | 18.82% | +9.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.65% | 20.62% | +5.03% |
IRSAX vs. FRESX - Expense Ratio Comparison
IRSAX has a 1.20% expense ratio, which is higher than FRESX's 0.64% expense ratio.
Dividends
IRSAX vs. FRESX - Dividend Comparison
IRSAX's dividend yield for the trailing twelve months is around 19.97%, more than FRESX's 4.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRESX Fidelity Real Estate Investment Portfolio | 4.05% | 4.64% | 5.58% | 6.95% | 10.16% | 3.70% | 4.77% | 6.91% | 4.23% | 4.00% | 4.90% | 6.09% |
IRSAX Delaware Ivy Securian Real Estate Securities Fund | 19.97% | 24.77% | 29.95% | 9.61% | 34.76% | 13.03% | 1.81% | 9.69% | 7.51% | 12.71% | 10.34% | 5.88% |
Frequently Asked Questions
With a correlation of 0.94, IRSAX and FRESX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IRSAX has higher volatility (4.43%) compared to FRESX (4.40%). In terms of maximum drawdown, IRSAX dropped -72.03% vs FRESX's -76.34%.
IRSAX currently has the higher Sharpe Ratio (1.88 vs 1.17), 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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