SOAAX vs. FSREX
SOAAX (Spirit of America Real Estate Income & Growth Fund) and FSREX (Fidelity Series Real Estate Income Fund) are both REIT funds. Over the past 10 years, SOAAX returned 5.31%/yr vs 5.33%/yr for FSREX. A 0.73 correlation means they provide meaningful diversification when combined. SOAAX charges 1.52%/yr vs 0.00%/yr for FSREX.
Performance
SOAAX vs. FSREX - Performance Comparison
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Returns By Period
In the year-to-date period, SOAAX achieves a 14.89% return, which is significantly higher than FSREX's 1.61% return. Both investments have delivered pretty close results over the past 10 years, with SOAAX having a 5.31% annualized return and FSREX not far ahead at 5.33%.
SOAAX
- 1D
- 1.21%
- 1M
- -0.11%
- YTD
- 14.89%
- 6M
- 15.33%
- 1Y
- 13.22%
- 3Y*
- 10.72%
- 5Y*
- 3.04%
- 10Y*
- 5.31%
FSREX
- 1D
- -0.30%
- 1M
- 0.51%
- YTD
- 1.61%
- 6M
- 1.81%
- 1Y
- 6.65%
- 3Y*
- 8.75%
- 5Y*
- 4.02%
- 10Y*
- 5.33%
SOAAX vs. FSREX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOAAX Spirit of America Real Estate Income & Growth Fund | 14.89% | -0.90% | 7.57% | 9.60% | -28.40% | 42.01% | -5.06% | 28.09% | -6.82% | 6.80% |
FSREX Fidelity Series Real Estate Income Fund | 1.61% | 8.93% | 9.87% | 8.29% | -11.78% | 15.78% | 0.58% | 16.02% | -0.73% | 5.91% |
Correlation
The correlation between SOAAX and FSREX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2011 | 0.73 |
Over the past year, the correlation between SOAAX and FSREX has dropped to 0.40 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.
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Return for Risk
SOAAX vs. FSREX — Risk / Return Rank
SOAAX
FSREX
SOAAX vs. FSREX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spirit of America Real Estate Income & Growth Fund (SOAAX) and Fidelity Series Real Estate Income Fund (FSREX). 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.
| SOAAX | FSREX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.67 | ||
| Sortino ratioReturn per unit of downside risk | -2.72 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.56 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 3.29 | -1.41 |
| Martin ratioReturn relative to average drawdown | 5.58 | 14.48 | -8.90 |
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Drawdowns
SOAAX vs. FSREX - Drawdown Comparison
The maximum SOAAX drawdown since its inception was -78.19%, which is greater than FSREX's maximum drawdown of -32.02%. Use the drawdown chart below to compare losses from any high point for SOAAX and FSREX.
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Drawdown Indicators
| SOAAX | FSREX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.19% | -32.02% | -46.17% |
Max Drawdown (1Y)Largest decline over 1 year | -7.74% | -2.06% | -5.68% |
Max Drawdown (3Y)Largest decline over 3 years | -19.29% | -5.12% | -14.17% |
Max Drawdown (5Y)Largest decline over 5 years | -36.03% | -15.22% | -20.81% |
Max Drawdown (10Y)Largest decline over 10 years | -41.24% | -32.02% | -9.22% |
Current DrawdownCurrent decline from peak | -3.90% | -0.30% | -3.60% |
Average DrawdownAverage peak-to-trough decline | -14.60% | -2.54% | -12.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 0.47% | +2.13% |
Volatility
SOAAX vs. FSREX - Volatility Comparison
Spirit of America Real Estate Income & Growth Fund (SOAAX) has a higher volatility of 4.65% compared to Fidelity Series Real Estate Income Fund (FSREX) at 0.68%. This indicates that SOAAX's price experiences larger fluctuations and is considered to be riskier than FSREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOAAX | FSREX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.65% | 0.68% | +3.97% |
Volatility (6M)Calculated over the trailing 6-month period | 9.74% | 1.89% | +7.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.29% | 2.45% | +10.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.24% | 4.77% | +13.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.75% | 7.89% | +11.86% |
SOAAX vs. FSREX - Expense Ratio Comparison
SOAAX has a 1.52% expense ratio, which is higher than FSREX's 0.00% expense ratio.
Dividends
SOAAX vs. FSREX - Dividend Comparison
SOAAX's dividend yield for the trailing twelve months is around 9.26%, more than FSREX's 5.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSREX Fidelity Series Real Estate Income Fund | 5.07% | 5.64% | 6.05% | 7.43% | 9.99% | 3.58% | 6.24% | 6.62% | 5.87% | 5.49% | 5.22% | 4.33% |
SOAAX Spirit of America Real Estate Income & Growth Fund | 9.26% | 10.64% | 9.53% | 9.32% | 9.32% | 6.12% | 8.13% | 7.11% | 8.47% | 6.87% | 7.18% | 8.97% |
Frequently Asked Questions
SOAAX and FSREX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOAAX has higher volatility (4.65%) compared to FSREX (0.68%). In terms of maximum drawdown, SOAAX dropped -78.19% vs FSREX's -32.02%.
FSREX currently has the higher Sharpe Ratio (2.77 vs 1.10), 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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