SRVR vs. FREL
SRVR (Pacer Data & Infrastructure Real Estate ETF) and FREL (Fidelity MSCI Real Estate Index ETF) are both REIT funds - SRVR tracks the FTSE Nareit All Equity REITs Index while FREL tracks the MSCI USA IMI Real Estate Index. Both are passively managed. Over the past 5 years, SRVR returned -3.67%/yr vs 2.82%/yr for FREL. A 0.79 correlation means they provide meaningful diversification when combined. SRVR charges 0.49%/yr vs 0.08%/yr for FREL.
Performance
SRVR vs. FREL - Performance Comparison
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Returns By Period
In the year-to-date period, SRVR achieves a 6.87% return, which is significantly lower than FREL's 15.20% return.
SRVR
- 1D
- -1.78%
- 1M
- -10.64%
- 6M
- 0.07%
- YTD
- 6.87%
- 1Y
- -4.54%
- 3Y*
- 3.89%
- 5Y*
- -3.67%
- 10Y*
- —
FREL
- 1D
- 2.29%
- 1M
- 3.12%
- 6M
- 11.39%
- YTD
- 15.20%
- 1Y
- 15.36%
- 3Y*
- 9.58%
- 5Y*
- 2.82%
- 10Y*
- 5.66%
SRVR vs. FREL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SRVR Pacer Data & Infrastructure Real Estate ETF | 6.87% | -1.99% | 2.70% | 6.84% | -31.90% | 22.31% | 11.99% | 41.98% | -3.66% |
FREL Fidelity MSCI Real Estate Index ETF | 15.20% | 3.09% | 5.05% | 11.74% | -26.21% | 40.46% | -4.99% | 28.78% | 1.21% |
Correlation
The correlation between SRVR and FREL is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since May 16, 2018 | 0.79 |
Over the past year, the correlation between SRVR and FREL has dropped to 0.54 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.
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Return for Risk
SRVR vs. FREL — Risk / Return Rank
SRVR
FREL
SRVR vs. FREL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacer Data & Infrastructure Real Estate ETF (SRVR) and Fidelity MSCI Real Estate Index ETF (FREL). 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.
| SRVR | FREL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -1.85 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.20 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 1.83 | -2.13 |
| Martin ratioReturn relative to average drawdown | -0.60 | 5.71 | -6.32 |
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Drawdowns
SRVR vs. FREL - Drawdown Comparison
The maximum SRVR drawdown since its inception was -40.99%, roughly equal to the maximum FREL drawdown of -42.61%. Use the drawdown chart below to compare losses from any high point for SRVR and FREL.
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Drawdown Indicators
| SRVR | FREL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.99% | -42.61% | +1.62% |
Max Drawdown (1Y)Largest decline over 1 year | -14.98% | -8.45% | -6.53% |
Max Drawdown (3Y)Largest decline over 3 years | -18.34% | -17.54% | -0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -40.99% | -34.40% | -6.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.61% | — |
Current DrawdownCurrent decline from peak | -21.75% | 0.00% | -21.75% |
Average DrawdownAverage peak-to-trough decline | -15.27% | -9.86% | -5.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.55% | 2.69% | +4.86% |
Volatility
SRVR vs. FREL - Volatility Comparison
The current volatility for Pacer Data & Infrastructure Real Estate ETF (SRVR) is 4.22%, while Fidelity MSCI Real Estate Index ETF (FREL) has a volatility of 5.23%. This indicates that SRVR experiences smaller price fluctuations and is considered to be less risky than FREL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRVR | FREL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.22% | 5.23% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 14.02% | 10.85% | +3.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.29% | 14.04% | +3.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.85% | 18.95% | +0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.41% | 20.72% | +0.69% |
SRVR vs. FREL - Expense Ratio Comparison
SRVR has a 0.49% expense ratio, which is higher than FREL's 0.08% expense ratio.
Dividends
SRVR vs. FREL - Dividend Comparison
SRVR's dividend yield for the trailing twelve months is around 2.86%, less than FREL's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FREL Fidelity MSCI Real Estate Index ETF | 3.17% | 3.59% | 3.48% | 3.73% | 3.57% | 2.34% | 3.77% | 3.32% | 5.54% | 3.27% | 4.01% | 3.80% |
SRVR Pacer Data & Infrastructure Real Estate ETF | 2.86% | 2.67% | 2.00% | 3.69% | 1.70% | 1.19% | 1.59% | 1.61% | 2.13% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SRVR and FREL have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FREL has higher volatility (5.23%) compared to SRVR (4.22%). In terms of maximum drawdown, SRVR dropped -40.99% vs FREL's -42.61%.
On 5-year performance, FREL leads with 2.82% vs -3.67% for SRVR. On fees, FREL is cheaper at 0.08% per year. On volatility, SRVR has been the lower-risk option at 4.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FREL has performed better with a 2.82% return vs -3.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FREL is cheaper with a 0.08% expense ratio, compared with 0.49% for SRVR.
FREL has the higher dividend yield at 3.17%, compared with 2.86% for SRVR.
SRVR tracks FTSE Nareit All Equity REITs Index, while FREL tracks MSCI USA IMI Real Estate Index. They also come from different issuers: Pacer and Fidelity. Their fees differ too: 0.49% for SRVR and 0.08% for FREL.
FREL currently has the higher Sharpe Ratio (1.10 vs -0.26), 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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