IRT vs. FXAIX

Last updated Jul 11, 2026

IRT (Independence Realty Trust, Inc.) is a stock, while FXAIX (Fidelity 500 Index Fund) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, IRT returned 12.40%/yr vs 15.35%/yr for FXAIX. At a 0.40 correlation, their price movements are largely independent.

Performance

IRT vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Independence Realty Trust, Inc. (IRT) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IRT achieves a -2.08% return, which is significantly lower than FXAIX's 10.87% return. Over the past 10 years, IRT has underperformed FXAIX with an annualized return of 12.40%, while FXAIX has yielded a comparatively higher 15.35% annualized return.

IRT

• 1D: 0.12%
• 1M: 0.31%
• 6M: -1.18%
• YTD: -2.08%
• 1Y: -0.38%
• 3Y*: 1.29%
• 5Y*: 1.04%
• 10Y*: 12.40%

FXAIX

• 1D: 0.82%
• 1M: 1.58%
• 6M: 8.91%
• YTD: 10.87%
• 1Y: 21.93%
• 3Y*: 21.20%
• 5Y*: 13.14%
• 10Y*: 15.35%

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

IRT vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IRT Independence Realty Trust, Inc.	-2.08%	-8.55%	34.27%	-5.58%	-32.88%	98.03%	0.28%	62.55%	-1.90%	21.74%
FXAIX Fidelity 500 Index Fund	10.87%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between IRT and FXAIX is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Aug 13, 2013	0.40

Over the past year, the correlation between IRT and FXAIX has dropped to 0.07 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

Return for Risk

IRT vs. FXAIX — Risk / Return Rank

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

IRT

IRT Risk / Return Rank: 42
IRT Sharpe Ratio Rank: 45
IRT Sortino Ratio Rank: 37
IRT Omega Ratio Rank: 37
IRT Calmar Ratio Rank: 45
IRT Martin Ratio Rank: 45

FXAIX

FXAIX Risk / Return Rank: 65
FXAIX Sharpe Ratio Rank: 64
FXAIX Sortino Ratio Rank: 59
FXAIX Omega Ratio Rank: 61
FXAIX Calmar Ratio Rank: 65
FXAIX Martin Ratio Rank: 77

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.

IRT vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Independence Realty Trust, Inc. (IRT) and Fidelity 500 Index Fund (FXAIX). 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.

	IRT	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	1.76	-1.77
Sortino ratio: Return per unit of downside risk	0.13	2.42	-2.28
Omega ratio: Gain probability vs. loss probability	1.02	1.32	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.02	2.47	-2.49
Martin ratio: Return relative to average drawdown	-0.04	10.85	-10.89

IRT vs. FXAIX - Sharpe Ratio Comparison

The current IRT Sharpe Ratio is -0.01, which is lower than the FXAIX Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of IRT and FXAIX, 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

IRT vs. FXAIX - Drawdown Comparison

The maximum IRT drawdown since its inception was -56.46%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for IRT and FXAIX.

Drawdown Indicators

	IRT	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-56.46%	-33.79%	-22.67%
Max Drawdown (1Y) Largest decline over 1 year	-15.89%	-8.89%	-7.00%
Max Drawdown (3Y) Largest decline over 3 years	-32.17%	-18.76%	-13.41%
Max Drawdown (5Y) Largest decline over 5 years	-54.73%	-24.50%	-30.23%
Max Drawdown (10Y) Largest decline over 10 years	-56.46%	-33.79%	-22.67%
Current Drawdown Current decline from peak	-30.40%	-0.74%	-29.66%
Average Drawdown Average peak-to-trough decline	-16.69%	-3.78%	-12.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.32%	2.02%	+5.30%

Volatility

IRT vs. FXAIX - Volatility Comparison

Independence Realty Trust, Inc. (IRT) has a higher volatility of 7.24% compared to Fidelity 500 Index Fund (FXAIX) at 4.27%. This indicates that IRT's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRT	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.24%	4.27%	+2.97%
Volatility (6M) Calculated over the trailing 6-month period	15.35%	9.96%	+5.39%
Volatility (1Y) Calculated over the trailing 1-year period	21.52%	12.53%	+8.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.15%	17.02%	+10.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.83%	18.05%	+11.78%

Dividends

IRT vs. FXAIX - Dividend Comparison

IRT's dividend yield for the trailing twelve months is around 4.12%, more than FXAIX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXAIX Fidelity 500 Index Fund	0.79%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%
IRT Independence Realty Trust, Inc.	4.12%	3.83%	3.23%	4.05%	3.20%	2.24%	4.02%	5.11%	7.84%	7.14%	8.07%	9.59%

Frequently Asked Questions

Can I hold both IRT and FXAIX in my portfolio?

IRT and FXAIX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IRT or FXAIX?

IRT has higher volatility (7.24%) compared to FXAIX (4.27%). In terms of maximum drawdown, IRT dropped -56.46% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (1.76 vs -0.01), 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.