SREZX vs. FSHOX

Last updated Jun 23, 2026

SREZX (PGIM Select Real Estate Fund) and FSHOX (Fidelity Select Construction & Housing Portfolio) are both mutual funds - SREZX is a REIT fund managed by PGIM, while FSHOX is a Consumer Discretionary Equities fund managed by Fidelity. Over the past 10 years, SREZX returned 6.89%/yr vs 15.20%/yr for FSHOX. A 0.68 correlation means they provide meaningful diversification when combined. SREZX charges 1.01%/yr vs 0.76%/yr for FSHOX.

Performance

SREZX vs. FSHOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Select Real Estate Fund (SREZX) and Fidelity Select Construction & Housing Portfolio (FSHOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SREZX having a 9.76% return and FSHOX slightly higher at 9.98%. Over the past 10 years, SREZX has underperformed FSHOX with an annualized return of 6.89%, while FSHOX has yielded a comparatively higher 15.20% annualized return.

SREZX

• 1D: 0.20%
• 1M: -1.66%
• YTD: 9.76%
• 6M: 10.16%
• 1Y: 12.37%
• 3Y*: 10.54%
• 5Y*: 3.35%
• 10Y*: 6.89%

FSHOX

• 1D: 2.00%
• 1M: 6.25%
• YTD: 9.98%
• 6M: 8.88%
• 1Y: 18.80%
• 3Y*: 15.43%
• 5Y*: 11.76%
• 10Y*: 15.20%

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

SREZX vs. FSHOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SREZX PGIM Select Real Estate Fund	9.76%	7.31%	6.58%	13.02%	-26.16%	28.83%	3.63%	30.87%	-4.12%	10.38%
FSHOX Fidelity Select Construction & Housing Portfolio	9.98%	5.24%	15.28%	30.85%	-22.76%	57.51%	25.95%	41.15%	-15.87%	26.25%

Correlation

The correlation between SREZX and FSHOX is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Aug 4, 2014	0.68

The correlation between SREZX and FSHOX shifts across timeframes, from 0.62 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SREZX vs. FSHOX — Risk / Return Rank

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

SREZX

SREZX Risk / Return Rank: 15
SREZX Sharpe Ratio Rank: 14
SREZX Sortino Ratio Rank: 13
SREZX Omega Ratio Rank: 13
SREZX Calmar Ratio Rank: 15
SREZX Martin Ratio Rank: 18

FSHOX

FSHOX Risk / Return Rank: 13
FSHOX Sharpe Ratio Rank: 13
FSHOX Sortino Ratio Rank: 16
FSHOX Omega Ratio Rank: 12
FSHOX Calmar Ratio Rank: 13
FSHOX Martin Ratio Rank: 11

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.

SREZX vs. FSHOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Select Real Estate Fund (SREZX) and Fidelity Select Construction & Housing Portfolio (FSHOX). 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.

	SREZX	FSHOX	Difference
Sharpe ratio: Return per unit of total volatility	0.98	0.95	+0.03
Sortino ratio: Return per unit of downside risk	1.40	1.55	-0.16
Omega ratio: Gain probability vs. loss probability	1.18	1.17	+0.01
Calmar ratio: Return relative to maximum drawdown	1.27	1.18	+0.08
Martin ratio: Return relative to average drawdown	4.32	2.99	+1.33

SREZX vs. FSHOX - Sharpe Ratio Comparison

The current SREZX Sharpe Ratio is 0.98, which is comparable to the FSHOX Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of SREZX and FSHOX, 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

SREZX vs. FSHOX - Drawdown Comparison

The maximum SREZX drawdown since its inception was -39.13%, smaller than the maximum FSHOX drawdown of -61.68%. Use the drawdown chart below to compare losses from any high point for SREZX and FSHOX.

Drawdown Indicators

	SREZX	FSHOX	Difference
Max Drawdown Largest peak-to-trough decline	-39.13%	-61.68%	+22.55%
Max Drawdown (1Y) Largest decline over 1 year	-9.60%	-16.54%	+6.94%
Max Drawdown (3Y) Largest decline over 3 years	-18.15%	-24.76%	+6.61%
Max Drawdown (5Y) Largest decline over 5 years	-34.10%	-33.23%	-0.87%
Max Drawdown (10Y) Largest decline over 10 years	-39.13%	-43.67%	+4.54%
Current Drawdown Current decline from peak	-3.38%	-5.16%	+1.78%
Average Drawdown Average peak-to-trough decline	-7.76%	-9.84%	+2.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	6.54%	-3.73%

Volatility

SREZX vs. FSHOX - Volatility Comparison

The current volatility for PGIM Select Real Estate Fund (SREZX) is 3.95%, while Fidelity Select Construction & Housing Portfolio (FSHOX) has a volatility of 7.09%. This indicates that SREZX experiences smaller price fluctuations and is considered to be less risky than FSHOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SREZX	FSHOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	7.09%	-3.14%
Volatility (6M) Calculated over the trailing 6-month period	9.50%	16.68%	-7.18%
Volatility (1Y) Calculated over the trailing 1-year period	12.45%	20.60%	-8.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.46%	21.85%	-5.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.35%	22.55%	-5.20%

SREZX vs. FSHOX - Expense Ratio Comparison

SREZX has a 1.01% expense ratio, which is higher than FSHOX's 0.76% expense ratio.

Dividends

SREZX vs. FSHOX - Dividend Comparison

SREZX's dividend yield for the trailing twelve months is around 2.26%, less than FSHOX's 5.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSHOX Fidelity Select Construction & Housing Portfolio	5.86%	3.91%	4.05%	0.82%	0.80%	5.45%	4.73%	7.91%	15.47%	13.62%	3.61%	3.26%
SREZX PGIM Select Real Estate Fund	2.26%	2.50%	2.55%	2.81%	1.59%	4.54%	2.12%	3.41%	4.58%	1.36%	4.15%	6.11%

Frequently Asked Questions

Can I hold both SREZX and FSHOX in my portfolio?

SREZX and FSHOX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SREZX or FSHOX?

FSHOX has higher volatility (7.09%) compared to SREZX (3.95%). In terms of maximum drawdown, SREZX dropped -39.13% vs FSHOX's -61.68%.

Which has better risk-adjusted returns?

SREZX currently has the higher Sharpe Ratio (0.98 vs 0.95), 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.