IVRSX vs. FRESX
IVRSX (VY CBRE Real Estate Portfolio) and FRESX (Fidelity Real Estate Investment Portfolio) are both REIT funds. Over the past 10 years, IVRSX returned 4.92%/yr vs 4.73%/yr for FRESX. Their 0.95 correlation means they have historically moved very closely together. IVRSX charges 0.93%/yr vs 0.64%/yr for FRESX.
Performance
IVRSX vs. FRESX - Performance Comparison
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Returns By Period
In the year-to-date period, IVRSX achieves a 20.91% return, which is significantly higher than FRESX's 16.43% return. Both investments have delivered pretty close results over the past 10 years, with IVRSX having a 4.92% annualized return and FRESX not far behind at 4.73%.
IVRSX
- 1D
- -1.23%
- 1M
- 1.35%
- 6M
- 17.82%
- YTD
- 20.91%
- 1Y
- 24.22%
- 3Y*
- 10.05%
- 5Y*
- 3.98%
- 10Y*
- 4.92%
- ALL TIME*
- 8.29%
FRESX
- 1D
- -0.93%
- 1M
- 1.67%
- 6M
- 12.68%
- YTD
- 16.43%
- 1Y
- 17.61%
- 3Y*
- 10.00%
- 5Y*
- 3.34%
- 10Y*
- 4.73%
- ALL TIME*
- 8.84%
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 |
IVRSX vs. FRESX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVRSX VY CBRE Real Estate Portfolio | 20.91% | -0.01% | 4.32% | 14.11% | -27.22% | 51.91% | -6.66% | 28.15% | -10.29% | 5.20% |
FRESX Fidelity Real Estate Investment Portfolio | 16.43% | 2.54% | 5.87% | 10.82% | -24.36% | 42.34% | -7.93% | 25.22% | -4.48% | 4.28% |
Correlation
The correlation between IVRSX and FRESX is 0.86, 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. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Mar 14, 1989 | 0.95 |
The correlation between IVRSX and FRESX has been stable across timeframes, ranging from 0.86 to 0.95 - a consistent structural relationship.
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Return for Risk
IVRSX vs. FRESX — Risk / Return Rank
IVRSX
FRESX
IVRSX vs. FRESX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VY CBRE Real Estate Portfolio (IVRSX) 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.
| IVRSX | FRESX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.20 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 2.01 | +1.14 |
| Martin ratioReturn relative to average drawdown | 10.34 | 6.21 | +4.13 |
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Drawdowns
IVRSX vs. FRESX - Drawdown Comparison
The maximum IVRSX drawdown since its inception was -73.77%, roughly equal to the maximum FRESX drawdown of -76.34%. Use the drawdown chart below to compare losses from any high point for IVRSX and FRESX.
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Drawdown Indicators
| IVRSX | FRESX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.77% | -76.34% | +2.57% |
Max Drawdown (1Y)Largest decline over 1 year | -7.74% | -7.78% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -19.29% | -16.44% | -2.85% |
Max Drawdown (5Y)Largest decline over 5 years | -34.51% | -32.13% | -2.38% |
Max Drawdown (10Y)Largest decline over 10 years | -45.19% | -40.93% | -4.26% |
Current DrawdownCurrent decline from peak | -2.51% | -1.24% | -1.27% |
Average DrawdownAverage peak-to-trough decline | -11.88% | -11.08% | -0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 2.53% | -0.18% |
Volatility
IVRSX vs. FRESX - Volatility Comparison
VY CBRE Real Estate Portfolio (IVRSX) has a higher volatility of 4.78% compared to Fidelity Real Estate Investment Portfolio (FRESX) at 4.33%. This indicates that IVRSX's price experiences larger fluctuations and is considered to be riskier than FRESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVRSX | FRESX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.78% | 4.33% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 11.00% | 10.73% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.16% | 14.00% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.69% | 18.82% | +0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.60% | 20.62% | +0.98% |
IVRSX vs. FRESX - Expense Ratio Comparison
IVRSX has a 0.93% expense ratio, which is higher than FRESX's 0.64% expense ratio.
Dividends
IVRSX vs. FRESX - Dividend Comparison
IVRSX's dividend yield for the trailing twelve months is around 1.75%, less than FRESX's 4.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRESX Fidelity Real Estate Investment Portfolio | 4.03% | 4.64% | 5.58% | 6.95% | 10.16% | 3.70% | 4.77% | 6.91% | 4.23% | 4.00% | 4.90% | 6.09% |
IVRSX VY CBRE Real Estate Portfolio | 1.75% | 2.74% | 2.50% | 8.77% | 26.34% | 1.46% | 13.92% | 2.44% | 11.42% | 2.07% | 1.57% | 1.31% |
Frequently Asked Questions
IVRSX and FRESX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVRSX has higher volatility (4.78%) compared to FRESX (4.33%). In terms of maximum drawdown, IVRSX dropped -73.77% vs FRESX's -76.34%.
IVRSX currently has the higher Sharpe Ratio (1.73 vs 1.12), 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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