PJEZX vs. FRIQX

Last updated Jun 24, 2026

PJEZX (PGIM US Real Estate Fund) and FRIQX (Fidelity Advisor Real Estate Income Fund Class M) are both REIT funds. Over the past 10 years, PJEZX returned 9.18%/yr vs 5.06%/yr for FRIQX. Their correlation of 0.89 suggests significant overlap in exposure. PJEZX charges 1.00%/yr vs 0.99%/yr for FRIQX.

Performance

PJEZX vs. FRIQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM US Real Estate Fund (PJEZX) and Fidelity Advisor Real Estate Income Fund Class M (FRIQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PJEZX achieves a 17.00% return, which is significantly higher than FRIQX's 3.76% return. Over the past 10 years, PJEZX has outperformed FRIQX with an annualized return of 9.18%, while FRIQX has yielded a comparatively lower 5.06% annualized return.

PJEZX

• 1D: 1.52%
• 1M: 0.56%
• YTD: 17.00%
• 6M: 17.52%
• 1Y: 17.32%
• 3Y*: 15.17%
• 5Y*: 6.11%
• 10Y*: 9.18%

FRIQX

• 1D: 0.08%
• 1M: 0.08%
• YTD: 3.76%
• 6M: 4.11%
• 1Y: 7.14%
• 3Y*: 8.46%
• 5Y*: 3.18%
• 10Y*: 5.06%

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

PJEZX vs. FRIQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PJEZX PGIM US Real Estate Fund	17.00%	2.49%	13.08%	15.85%	-27.26%	48.32%	-4.86%	44.30%	-3.54%	5.60%
FRIQX Fidelity Advisor Real Estate Income Fund Class M	3.76%	6.87%	7.59%	9.08%	-14.87%	18.61%	-1.37%	17.58%	-2.02%	5.99%

Correlation

The correlation between PJEZX and FRIQX 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	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Dec 21, 2010	0.89

The correlation between PJEZX and FRIQX has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.

Return for Risk

PJEZX vs. FRIQX — Risk / Return Rank

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

PJEZX

PJEZX Risk / Return Rank: 32
PJEZX Sharpe Ratio Rank: 26
PJEZX Sortino Ratio Rank: 23
PJEZX Omega Ratio Rank: 23
PJEZX Calmar Ratio Rank: 50
PJEZX Martin Ratio Rank: 36

FRIQX

FRIQX Risk / Return Rank: 43
FRIQX Sharpe Ratio Rank: 43
FRIQX Sortino Ratio Rank: 42
FRIQX Omega Ratio Rank: 44
FRIQX Calmar Ratio Rank: 37
FRIQX Martin Ratio Rank: 48

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.

PJEZX vs. FRIQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM US Real Estate Fund (PJEZX) and Fidelity Advisor Real Estate Income Fund Class M (FRIQX). 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.

	PJEZX	FRIQX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.79	-0.45
Sortino ratio: Return per unit of downside risk	1.86	2.53	-0.67
Omega ratio: Gain probability vs. loss probability	1.23	1.33	-0.10
Calmar ratio: Return relative to maximum drawdown	2.57	2.19	+0.39
Martin ratio: Return relative to average drawdown	7.54	9.48	-1.94

PJEZX vs. FRIQX - Sharpe Ratio Comparison

The current PJEZX Sharpe Ratio is 1.34, which is comparable to the FRIQX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of PJEZX and FRIQX, 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

PJEZX vs. FRIQX - Drawdown Comparison

The maximum PJEZX drawdown since its inception was -43.43%, which is greater than FRIQX's maximum drawdown of -34.50%. Use the drawdown chart below to compare losses from any high point for PJEZX and FRIQX.

Drawdown Indicators

	PJEZX	FRIQX	Difference
Max Drawdown Largest peak-to-trough decline	-43.43%	-34.50%	-8.93%
Max Drawdown (1Y) Largest decline over 1 year	-7.32%	-3.44%	-3.88%
Max Drawdown (3Y) Largest decline over 3 years	-19.19%	-7.28%	-11.91%
Max Drawdown (5Y) Largest decline over 5 years	-34.60%	-18.37%	-16.23%
Max Drawdown (10Y) Largest decline over 10 years	-43.43%	-34.50%	-8.93%
Current Drawdown Current decline from peak	-0.77%	-0.64%	-0.13%
Average Drawdown Average peak-to-trough decline	-8.09%	-3.38%	-4.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	0.79%	+1.70%

Volatility

PJEZX vs. FRIQX - Volatility Comparison

PGIM US Real Estate Fund (PJEZX) has a higher volatility of 5.08% compared to Fidelity Advisor Real Estate Income Fund Class M (FRIQX) at 1.25%. This indicates that PJEZX's price experiences larger fluctuations and is considered to be riskier than FRIQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PJEZX	FRIQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	1.25%	+3.83%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	3.30%	+7.06%
Volatility (1Y) Calculated over the trailing 1-year period	14.05%	4.21%	+9.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.92%	6.50%	+12.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.19%	9.51%	+11.68%

PJEZX vs. FRIQX - Expense Ratio Comparison

PJEZX has a 1.00% expense ratio, which is higher than FRIQX's 0.99% expense ratio.

Dividends

PJEZX vs. FRIQX - Dividend Comparison

PJEZX's dividend yield for the trailing twelve months is around 1.78%, less than FRIQX's 4.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRIQX Fidelity Advisor Real Estate Income Fund Class M	4.27%	4.40%	4.40%	4.76%	5.78%	1.30%	4.51%	5.43%	4.88%	4.20%	4.74%	3.50%
PJEZX PGIM US Real Estate Fund	1.78%	2.05%	1.93%	1.65%	3.21%	9.54%	1.56%	13.21%	5.43%	6.31%	15.48%	9.39%

Frequently Asked Questions

Can I hold both PJEZX and FRIQX in my portfolio?

PJEZX and FRIQX 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.

Which is riskier, PJEZX or FRIQX?

PJEZX has higher volatility (5.08%) compared to FRIQX (1.25%). In terms of maximum drawdown, PJEZX dropped -43.43% vs FRIQX's -34.50%.

Which has better risk-adjusted returns?

FRIQX currently has the higher Sharpe Ratio (1.79 vs 1.34), 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.