IVRSX vs. FSRNX
IVRSX (VY CBRE Real Estate Portfolio) and FSRNX (Fidelity Real Estate Index Fund) are both REIT funds. Over the past 10 years, IVRSX returned 5.41%/yr vs 4.09%/yr for FSRNX. With a 0.97 correlation, they move nearly in lockstep. IVRSX charges 0.93%/yr vs 0.07%/yr for FSRNX.
Performance
IVRSX vs. FSRNX - Performance Comparison
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Returns By Period
In the year-to-date period, IVRSX achieves a 15.96% return, which is significantly higher than FSRNX's 9.98% return. Over the past 10 years, IVRSX has outperformed FSRNX with an annualized return of 5.41%, while FSRNX has yielded a comparatively lower 4.09% annualized return.
IVRSX
- 1D
- 1.28%
- 1M
- 0.54%
- YTD
- 15.96%
- 6M
- 16.29%
- 1Y
- 15.63%
- 3Y*
- 11.12%
- 5Y*
- 3.88%
- 10Y*
- 5.41%
FSRNX
- 1D
- 0.97%
- 1M
- -0.16%
- YTD
- 9.98%
- 6M
- 10.39%
- 1Y
- 9.86%
- 3Y*
- 10.66%
- 5Y*
- 2.47%
- 10Y*
- 4.09%
IVRSX vs. FSRNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVRSX VY CBRE Real Estate Portfolio | 15.96% | -0.01% | 4.32% | 14.11% | -27.22% | 51.91% | -6.66% | 28.15% | -10.29% | 5.20% |
FSRNX Fidelity Real Estate Index Fund | 9.98% | 3.03% | 4.99% | 11.93% | -26.14% | 40.66% | -11.31% | 23.78% | -4.91% | 3.15% |
Correlation
The correlation between IVRSX and FSRNX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011 | 0.97 |
The correlation between IVRSX and FSRNX has been stable across timeframes, ranging from 0.87 to 0.97 - a consistent structural relationship.
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Return for Risk
IVRSX vs. FSRNX — Risk / Return Rank
IVRSX
FSRNX
IVRSX vs. FSRNX - 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 Index Fund (FSRNX). 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 | FSRNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.15 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.42 | 1.35 | +1.06 |
| Martin ratioReturn relative to average drawdown | 7.47 | 4.25 | +3.21 |
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Drawdowns
IVRSX vs. FSRNX - Drawdown Comparison
The maximum IVRSX drawdown since its inception was -73.77%, which is greater than FSRNX's maximum drawdown of -44.26%. Use the drawdown chart below to compare losses from any high point for IVRSX and FSRNX.
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Drawdown Indicators
| IVRSX | FSRNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.77% | -44.26% | -29.51% |
Max Drawdown (1Y)Largest decline over 1 year | -7.74% | -8.47% | +0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -19.29% | -17.49% | -1.80% |
Max Drawdown (5Y)Largest decline over 5 years | -34.51% | -34.27% | -0.24% |
Max Drawdown (10Y)Largest decline over 10 years | -45.19% | -44.26% | -0.93% |
Current DrawdownCurrent decline from peak | -1.25% | -2.11% | +0.86% |
Average DrawdownAverage peak-to-trough decline | -11.91% | -9.66% | -2.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 2.69% | -0.25% |
Volatility
IVRSX vs. FSRNX - Volatility Comparison
VY CBRE Real Estate Portfolio (IVRSX) and Fidelity Real Estate Index Fund (FSRNX) have volatilities of 5.04% and 4.99%, 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
| IVRSX | FSRNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 4.99% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 10.22% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.18% | 13.86% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.67% | 18.94% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.58% | 21.44% | +0.14% |
IVRSX vs. FSRNX - Expense Ratio Comparison
IVRSX has a 0.93% expense ratio, which is higher than FSRNX's 0.07% expense ratio.
Dividends
IVRSX vs. FSRNX - Dividend Comparison
IVRSX's dividend yield for the trailing twelve months is around 4.24%, more than FSRNX's 2.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSRNX Fidelity Real Estate Index Fund | 2.69% | 2.77% | 2.86% | 2.84% | 2.66% | 1.25% | 3.33% | 4.52% | 3.62% | 2.27% | 3.40% | 2.57% |
IVRSX VY CBRE Real Estate Portfolio | 4.24% | 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 FSRNX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVRSX has higher volatility (5.04%) compared to FSRNX (4.99%). In terms of maximum drawdown, IVRSX dropped -73.77% vs FSRNX's -44.26%.
IVRSX currently has the higher Sharpe Ratio (1.32 vs 0.83), 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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