QREARX vs. FRIQX
QREARX (TIAA Real Estate Account) and FRIQX (Fidelity Advisor Real Estate Income Fund Class M) are both REIT funds. Over the past year, QREARX returned 4.28% vs 7.42% for FRIQX. At a correlation of -0.21, they often move in opposite directions. QREARX charges 0.90%/yr vs 0.99%/yr for FRIQX.
Performance
QREARX vs. FRIQX - Performance Comparison
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Returns By Period
In the year-to-date period, QREARX achieves a 2.27% return, which is significantly lower than FRIQX's 4.18% return.
QREARX
- 1D
- 0.02%
- 1M
- 1.26%
- 6M
- 2.23%
- YTD
- 2.27%
- 1Y
- 4.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FRIQX
- 1D
- 0.08%
- 1M
- -0.24%
- 6M
- 4.01%
- YTD
- 4.18%
- 1Y
- 7.42%
- 3Y*
- 7.94%
- 5Y*
- 2.97%
- 10Y*
- 4.82%
QREARX vs. FRIQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QREARX TIAA Real Estate Account | 2.27% | 3.93% |
FRIQX Fidelity Advisor Real Estate Income Fund Class M | 4.18% | 6.96% |
Correlation
The correlation between QREARX and FRIQX is -0.30, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.30 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2025 | -0.21 |
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Return for Risk
QREARX vs. FRIQX — Risk / Return Rank
QREARX
FRIQX
QREARX vs. FRIQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA Real Estate Account (QREARX) 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.
| QREARX | FRIQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.62 | ||
| Sortino ratioReturn per unit of downside risk | +8.85 | ||
| Omega ratioGain probability vs. loss probability | 3.30 | 1.33 | +1.97 |
| Calmar ratioReturn relative to maximum drawdown | 14.85 | 2.18 | +12.67 |
| Martin ratioReturn relative to average drawdown | 60.61 | 9.47 | +51.15 |
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Drawdowns
QREARX vs. FRIQX - Drawdown Comparison
The maximum QREARX drawdown since its inception was -1.45%, smaller than the maximum FRIQX drawdown of -34.50%. Use the drawdown chart below to compare losses from any high point for QREARX and FRIQX.
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Drawdown Indicators
| QREARX | FRIQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.45% | -34.50% | +33.05% |
Max Drawdown (1Y)Largest decline over 1 year | -0.29% | -3.44% | +3.15% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.28% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.37% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.50% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.48% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -3.37% | +3.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 0.79% | -0.72% |
Volatility
QREARX vs. FRIQX - Volatility Comparison
The current volatility for TIAA Real Estate Account (QREARX) is 0.75%, while Fidelity Advisor Real Estate Income Fund Class M (FRIQX) has a volatility of 1.47%. This indicates that QREARX experiences smaller price fluctuations and is considered to be less risky than FRIQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QREARX | FRIQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 1.47% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 0.87% | 3.45% | -2.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.99% | 4.26% | -3.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.72% | 6.50% | -4.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.72% | 9.50% | -7.78% |
QREARX vs. FRIQX - Expense Ratio Comparison
QREARX has a 0.90% expense ratio, which is lower than FRIQX's 0.99% expense ratio.
Dividends
QREARX vs. FRIQX - Dividend Comparison
QREARX has not paid dividends to shareholders, while FRIQX's dividend yield for the trailing twelve months is around 4.25%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRIQX Fidelity Advisor Real Estate Income Fund Class M | 3.16% | 4.40% | 4.40% | 4.76% | 5.78% | 1.30% | 4.51% | 5.43% | 4.88% | 4.20% | 4.74% | 3.50% |
QREARX TIAA Real Estate Account | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QREARX and FRIQX have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRIQX has higher volatility (1.47%) compared to QREARX (0.75%). In terms of maximum drawdown, QREARX dropped -1.45% vs FRIQX's -34.50%.
QREARX currently has the higher Sharpe Ratio (4.39 vs 1.76), 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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