PAGEX vs. FESIX
PAGEX (T. Rowe Price Global Real Estate Fund) and FESIX (Fidelity SAI Real Estate Index Fund) are both REIT funds. Over the past 5 years, PAGEX returned 0.63%/yr vs 2.37%/yr for FESIX. Their correlation of 0.92 means they have usually moved in the same direction. PAGEX charges 1.15%/yr vs 0.07%/yr for FESIX.
Performance
PAGEX vs. FESIX - Performance Comparison
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Returns By Period
In the year-to-date period, PAGEX achieves a 11.49% return, which is significantly lower than FESIX's 14.30% return.
PAGEX
- 1D
- -0.31%
- 1M
- 2.37%
- 6M
- 8.35%
- YTD
- 11.49%
- 1Y
- 16.50%
- 3Y*
- 7.53%
- 5Y*
- 0.63%
- 10Y*
- 3.34%
- ALL TIME*
- 7.53%
FESIX
- 1D
- -1.20%
- 1M
- 1.41%
- 6M
- 11.44%
- YTD
- 14.30%
- 1Y
- 15.82%
- 3Y*
- 9.29%
- 5Y*
- 2.37%
- 10Y*
- —
- ALL TIME*
- 4.52%
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 |
PAGEX vs. FESIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAGEX T. Rowe Price Global Real Estate Fund | 11.49% | 5.39% | 0.92% | 11.33% | -26.47% | 28.48% | -4.13% | 29.48% | -7.71% | 6.97% |
FESIX Fidelity SAI Real Estate Index Fund | 14.30% | 3.09% | 4.80% | 11.83% | -26.47% | 40.61% | -11.10% | 23.06% | -4.95% | 2.81% |
Correlation
The correlation between PAGEX and FESIX is 0.88, 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. | 0.88 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.92 |
The correlation between PAGEX and FESIX has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.
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Return for Risk
PAGEX vs. FESIX — Risk / Return Rank
PAGEX
FESIX
PAGEX vs. FESIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Global Real Estate Fund (PAGEX) and Fidelity SAI Real Estate Index Fund (FESIX). 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.
| PAGEX | FESIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.18 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | 1.65 | -0.17 |
| Martin ratioReturn relative to average drawdown | 5.18 | 5.29 | -0.10 |
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Drawdowns
PAGEX vs. FESIX - Drawdown Comparison
The maximum PAGEX drawdown since its inception was -43.69%, roughly equal to the maximum FESIX drawdown of -44.22%. Use the drawdown chart below to compare losses from any high point for PAGEX and FESIX.
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Drawdown Indicators
| PAGEX | FESIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.69% | -44.22% | +0.53% |
Max Drawdown (1Y)Largest decline over 1 year | -10.46% | -8.42% | -2.04% |
Max Drawdown (3Y)Largest decline over 3 years | -19.62% | -17.48% | -2.14% |
Max Drawdown (5Y)Largest decline over 5 years | -33.25% | -34.51% | +1.26% |
Max Drawdown (10Y)Largest decline over 10 years | -38.63% | — | — |
Current DrawdownCurrent decline from peak | -2.92% | -1.37% | -1.55% |
Average DrawdownAverage peak-to-trough decline | -8.79% | -11.22% | +2.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 2.69% | +0.30% |
Volatility
PAGEX vs. FESIX - Volatility Comparison
The current volatility for T. Rowe Price Global Real Estate Fund (PAGEX) is 3.41%, while Fidelity SAI Real Estate Index Fund (FESIX) has a volatility of 4.32%. This indicates that PAGEX experiences smaller price fluctuations and is considered to be less risky than FESIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAGEX | FESIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 4.32% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 9.78% | 10.77% | -0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.06% | 13.87% | -1.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.27% | 19.01% | -2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 21.66% | -4.54% |
PAGEX vs. FESIX - Expense Ratio Comparison
PAGEX has a 1.15% expense ratio, which is higher than FESIX's 0.07% expense ratio.
Dividends
PAGEX vs. FESIX - Dividend Comparison
PAGEX's dividend yield for the trailing twelve months is around 2.14%, less than FESIX's 2.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FESIX Fidelity SAI Real Estate Index Fund | 2.77% | 3.09% | 52.40% | 3.87% | 55.39% | 5.01% | 2.71% | 3.78% | 3.15% | 2.21% | 0.00% | 0.00% |
PAGEX T. Rowe Price Global Real Estate Fund | 2.14% | 2.27% | 2.21% | 2.25% | 6.07% | 7.69% | 2.80% | 12.00% | 6.14% | 2.80% | 2.97% | 2.34% |
Frequently Asked Questions
PAGEX and FESIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FESIX has higher volatility (4.32%) compared to PAGEX (3.41%). In terms of maximum drawdown, PAGEX dropped -43.69% vs FESIX's -44.22%.
PAGEX currently has the higher Sharpe Ratio (1.29 vs 1.01), 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.
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