REZ vs. FRESX
REZ (iShares Residential Real Estate ETF) and FRESX (Fidelity Real Estate Investment Portfolio) are both REIT funds. Over the past 10 years, REZ returned 6.61%/yr vs 5.16%/yr for FRESX. Their correlation of 0.90 suggests significant overlap in exposure. REZ charges 0.48%/yr vs 0.71%/yr for FRESX.
Performance
REZ vs. FRESX - Performance Comparison
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Returns By Period
In the year-to-date period, REZ achieves a 9.54% return, which is significantly lower than FRESX's 11.41% return. Over the past 10 years, REZ has outperformed FRESX with an annualized return of 6.61%, while FRESX has yielded a comparatively lower 5.16% annualized return.
REZ
- 1D
- 1.06%
- 1M
- -1.63%
- YTD
- 9.54%
- 6M
- 9.75%
- 1Y
- 12.37%
- 3Y*
- 11.60%
- 5Y*
- 3.90%
- 10Y*
- 6.61%
FRESX
- 1D
- -0.07%
- 1M
- -0.99%
- YTD
- 11.41%
- 6M
- 11.89%
- 1Y
- 11.31%
- 3Y*
- 9.05%
- 5Y*
- 3.52%
- 10Y*
- 5.16%
REZ vs. FRESX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REZ iShares Residential Real Estate ETF | 9.54% | 4.80% | 12.73% | 10.97% | -28.31% | 47.86% | -6.62% | 24.49% | 3.89% | 3.87% |
FRESX Fidelity Real Estate Investment Portfolio | 11.41% | 2.54% | 5.87% | 10.82% | -24.36% | 42.34% | -7.93% | 25.22% | -4.48% | 4.28% |
Correlation
The correlation between REZ and FRESX is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since May 4, 2007 | 0.90 |
The correlation between REZ and FRESX has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.
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Return for Risk
REZ vs. FRESX — Risk / Return Rank
REZ
FRESX
REZ vs. FRESX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Residential Real Estate ETF (REZ) 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.
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.
| REZ | FRESX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.15 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | 1.45 | -0.03 |
| Martin ratioReturn relative to average drawdown | 4.29 | 4.15 | +0.14 |
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Drawdowns
REZ vs. FRESX - Drawdown Comparison
The maximum REZ drawdown since its inception was -66.87%, smaller than the maximum FRESX drawdown of -76.34%. Use the drawdown chart below to compare losses from any high point for REZ and FRESX.
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Drawdown Indicators
| REZ | FRESX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.87% | -76.34% | +9.47% |
Max Drawdown (1Y)Largest decline over 1 year | -8.76% | -7.78% | -0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -18.39% | -16.44% | -1.95% |
Max Drawdown (5Y)Largest decline over 5 years | -35.05% | -32.13% | -2.92% |
Max Drawdown (10Y)Largest decline over 10 years | -44.15% | -40.93% | -3.22% |
Current DrawdownCurrent decline from peak | -2.45% | -2.89% | +0.44% |
Average DrawdownAverage peak-to-trough decline | -12.66% | -11.11% | -1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 2.71% | +0.18% |
Volatility
REZ vs. FRESX - Volatility Comparison
iShares Residential Real Estate ETF (REZ) has a higher volatility of 5.73% compared to Fidelity Real Estate Investment Portfolio (FRESX) at 5.12%. This indicates that REZ's price experiences larger fluctuations and is considered to be riskier than FRESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REZ | FRESX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.73% | 5.12% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 11.43% | 10.03% | +1.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.99% | 13.87% | +1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.98% | 18.78% | +0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.57% | 20.59% | +0.98% |
REZ vs. FRESX - Expense Ratio Comparison
REZ has a 0.48% expense ratio, which is lower than FRESX's 0.71% expense ratio.
Dividends
REZ vs. FRESX - Dividend Comparison
REZ's dividend yield for the trailing twelve months is around 2.10%, less than FRESX's 4.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRESX Fidelity Real Estate Investment Portfolio | 4.21% | 4.64% | 5.58% | 6.95% | 10.16% | 3.70% | 4.77% | 6.91% | 4.23% | 4.00% | 4.90% | 6.09% |
REZ iShares Residential Real Estate ETF | 2.10% | 2.74% | 2.26% | 2.94% | 3.37% | 1.81% | 3.17% | 2.90% | 3.63% | 3.57% | 5.55% | 3.18% |
Frequently Asked Questions
REZ and FRESX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REZ has higher volatility (5.73%) compared to FRESX (5.12%). In terms of maximum drawdown, REZ dropped -66.87% vs FRESX's -76.34%.
REZ currently has the higher Sharpe Ratio (0.83 vs 0.81), 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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