NRFYX vs. FRESX

Last updated Jun 3, 2026

NRFYX (Natixis Funds Trust IV AEW Global Focused Real Estate Fund) and FRESX (Fidelity Real Estate Investment Portfolio) are both REIT funds. Over the past 10 years, NRFYX returned 4.03%/yr vs 5.19%/yr for FRESX. With a 0.96 correlation, they move nearly in lockstep. NRFYX charges 0.90%/yr vs 0.71%/yr for FRESX.

Performance

NRFYX vs. FRESX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Natixis Funds Trust IV AEW Global Focused Real Estate Fund (NRFYX) and Fidelity Real Estate Investment Portfolio (FRESX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NRFYX achieves a 7.24% return, which is significantly lower than FRESX's 9.92% return. Over the past 10 years, NRFYX has underperformed FRESX with an annualized return of 4.03%, while FRESX has yielded a comparatively higher 5.19% annualized return.

NRFYX

• 1D: -1.72%
• 1M: -2.52%
• YTD: 7.24%
• 6M: 7.08%
• 1Y: 9.68%
• 3Y*: 9.16%
• 5Y*: 1.40%
• 10Y*: 4.03%

FRESX

• 1D: 0.48%
• 1M: -1.17%
• YTD: 9.92%
• 6M: 8.98%
• 1Y: 10.25%
• 3Y*: 9.16%
• 5Y*: 3.21%
• 10Y*: 5.19%

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

NRFYX vs. FRESX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NRFYX Natixis Funds Trust IV AEW Global Focused Real Estate Fund	7.24%	7.51%	1.47%	13.42%	-25.75%	28.33%	-5.50%	24.32%	-4.52%	3.78%
FRESX Fidelity Real Estate Investment Portfolio	9.92%	2.54%	5.87%	10.82%	-24.36%	42.34%	-7.93%	25.22%	-4.48%	4.28%

Correlation

The correlation between NRFYX and FRESX is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Sep 1, 2000	0.96

Over the past year, the correlation between NRFYX and FRESX has dropped to 0.72 - well below their long-term average of 0.96, suggesting their price drivers have been diverging.

Return for Risk

NRFYX vs. FRESX — Risk / Return Rank

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

NRFYX

NRFYX Risk / Return Rank: 14
NRFYX Sharpe Ratio Rank: 13
NRFYX Sortino Ratio Rank: 13
NRFYX Omega Ratio Rank: 12
NRFYX Calmar Ratio Rank: 15
NRFYX Martin Ratio Rank: 19

FRESX

FRESX Risk / Return Rank: 10
FRESX Sharpe Ratio Rank: 9
FRESX Sortino Ratio Rank: 9
FRESX Omega Ratio Rank: 9
FRESX Calmar Ratio Rank: 13
FRESX Martin Ratio Rank: 12

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.

NRFYX vs. FRESX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Natixis Funds Trust IV AEW Global Focused Real Estate Fund (NRFYX) 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.

	NRFYX	FRESX	Difference
Sharpe ratio Return per unit of total volatility	0.98	0.74	+0.24
Sortino ratio Return per unit of downside risk	1.44	1.10	+0.35
Omega ratio Gain probability vs. loss probability	1.17	1.13	+0.04
Calmar ratio Return relative to maximum drawdown	1.36	1.27	+0.09
Martin ratio Return relative to average drawdown	5.23	3.66	+1.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NRFYX vs. FRESX - Sharpe Ratio Comparison

The current NRFYX Sharpe Ratio is 0.98, which is higher than the FRESX Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of NRFYX and FRESX, 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

	NRFYX	FRESX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	0.74	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	0.17	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	0.25	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.39	-0.06

Drawdowns

NRFYX vs. FRESX - Drawdown Comparison

The maximum NRFYX drawdown since its inception was -73.64%, roughly equal to the maximum FRESX drawdown of -76.34%. Use the drawdown chart below to compare losses from any high point for NRFYX and FRESX.

Drawdown Indicators

	NRFYX	FRESX	Difference
Max Drawdown Largest peak-to-trough decline	-73.64%	-76.34%	+2.70%
Max Drawdown (1Y) Largest decline over 1 year	-10.10%	-7.78%	-2.32%
Max Drawdown (3Y) Largest decline over 3 years	-18.91%	-16.44%	-2.47%
Max Drawdown (5Y) Largest decline over 5 years	-33.95%	-32.13%	-1.82%
Max Drawdown (10Y) Largest decline over 10 years	-40.31%	-40.93%	+0.62%
Current Drawdown Current decline from peak	-3.69%	-2.87%	-0.82%
Average Drawdown Average peak-to-trough decline	-12.47%	-11.12%	-1.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	2.69%	+0.17%

Volatility

NRFYX vs. FRESX - Volatility Comparison

Natixis Funds Trust IV AEW Global Focused Real Estate Fund (NRFYX) and Fidelity Real Estate Investment Portfolio (FRESX) have volatilities of 3.65% and 3.78%, 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.

Volatility by Period

	NRFYX	FRESX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	3.78%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	9.87%	9.27%	+0.60%
Volatility (1Y) Calculated over the trailing 1-year period	13.03%	13.27%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.36%	18.72%	-1.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.38%	20.56%	-2.18%

NRFYX vs. FRESX - Expense Ratio Comparison

NRFYX has a 0.90% expense ratio, which is higher than FRESX's 0.71% expense ratio.

Dividends

NRFYX vs. FRESX - Dividend Comparison

NRFYX's dividend yield for the trailing twelve months is around 3.03%, less than FRESX's 4.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRESX Fidelity Real Estate Investment Portfolio	4.22%	4.64%	5.58%	6.95%	10.16%	3.70%	4.77%	6.91%	4.23%	4.00%	4.90%	6.09%
NRFYX Natixis Funds Trust IV AEW Global Focused Real Estate Fund	3.03%	2.24%	4.51%	2.66%	3.05%	5.98%	3.81%	17.61%	10.05%	10.64%	11.02%	9.66%

Frequently Asked Questions

Can I hold both NRFYX and FRESX in my portfolio?

NRFYX and FRESX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NRFYX or FRESX?

FRESX has higher volatility (3.78%) compared to NRFYX (3.65%). In terms of maximum drawdown, NRFYX dropped -73.64% vs FRESX's -76.34%.

Which has better risk-adjusted returns?

NRFYX currently has the higher Sharpe Ratio (0.98 vs 0.74), 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.