VGSIX vs. FSRNX
VGSIX (Vanguard Real Estate Index Fund) and FSRNX (Fidelity Real Estate Index Fund) are both REIT funds. Over the past 10 years, VGSIX returned 4.83%/yr vs 3.96%/yr for FSRNX. With a 0.99 correlation, they move nearly in lockstep. VGSIX charges 0.26%/yr vs 0.07%/yr for FSRNX.
Performance
VGSIX vs. FSRNX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with VGSIX having a 9.10% return and FSRNX slightly lower at 8.92%. Over the past 10 years, VGSIX has outperformed FSRNX with an annualized return of 4.83%, while FSRNX has yielded a comparatively lower 3.96% annualized return.
VGSIX
- 1D
- -0.03%
- 1M
- -1.24%
- YTD
- 9.10%
- 6M
- 9.36%
- 1Y
- 10.43%
- 3Y*
- 7.92%
- 5Y*
- 2.05%
- 10Y*
- 4.83%
FSRNX
- 1D
- 0.00%
- 1M
- -1.12%
- YTD
- 8.92%
- 6M
- 9.19%
- 1Y
- 10.34%
- 3Y*
- 8.60%
- 5Y*
- 2.55%
- 10Y*
- 3.96%
VGSIX vs. FSRNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGSIX Vanguard Real Estate Index Fund | 9.10% | 2.04% | 2.67% | 12.97% | -26.29% | 40.18% | -4.87% | 28.74% | -6.14% | 4.80% |
FSRNX Fidelity Real Estate Index Fund | 8.92% | 3.03% | 4.99% | 11.93% | -26.14% | 40.66% | -11.31% | 23.78% | -4.91% | 3.15% |
Correlation
The correlation between VGSIX and FSRNX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011 | 0.99 |
The correlation between VGSIX and FSRNX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
VGSIX vs. FSRNX — Risk / Return Rank
VGSIX
FSRNX
VGSIX vs. FSRNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate Index Fund (VGSIX) and Fidelity Real Estate Index Fund (FSRNX). 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.
| VGSIX | FSRNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.14 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | 1.23 | +0.02 |
| Martin ratioReturn relative to average drawdown | 3.90 | 3.86 | +0.04 |
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Drawdowns
VGSIX vs. FSRNX - Drawdown Comparison
The maximum VGSIX drawdown since its inception was -73.13%, which is greater than FSRNX's maximum drawdown of -44.26%. Use the drawdown chart below to compare losses from any high point for VGSIX and FSRNX.
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Drawdown Indicators
| VGSIX | FSRNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.13% | -44.26% | -28.87% |
Max Drawdown (1Y)Largest decline over 1 year | -8.32% | -8.47% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -18.62% | -17.49% | -1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -34.58% | -34.27% | -0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -42.35% | -44.26% | +1.91% |
Current DrawdownCurrent decline from peak | -4.83% | -3.05% | -1.78% |
Average DrawdownAverage peak-to-trough decline | -11.86% | -9.66% | -2.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 2.69% | -0.03% |
Volatility
VGSIX vs. FSRNX - Volatility Comparison
Vanguard Real Estate Index Fund (VGSIX) and Fidelity Real Estate Index Fund (FSRNX) have volatilities of 5.12% and 5.05%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGSIX | FSRNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.12% | 5.05% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 10.11% | 10.19% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.74% | 13.81% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.94% | 18.95% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.88% | 21.43% | -0.55% |
VGSIX vs. FSRNX - Expense Ratio Comparison
VGSIX has a 0.26% expense ratio, which is higher than FSRNX's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VGSIX vs. FSRNX - Dividend Comparison
VGSIX's dividend yield for the trailing twelve months is around 3.51%, more than FSRNX's 2.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSRNX Fidelity Real Estate Index Fund | 2.72% | 2.77% | 2.86% | 2.84% | 2.66% | 1.25% | 3.33% | 4.52% | 3.62% | 2.27% | 3.40% | 2.57% |
VGSIX Vanguard Real Estate Index Fund | 3.51% | 2.76% | 2.83% | 3.77% | 3.75% | 2.43% | 3.78% | 3.24% | 4.59% | 4.09% | 4.67% | 3.78% |
Frequently Asked Questions
With a correlation of 1.00, VGSIX and FSRNX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VGSIX has higher volatility (5.12%) compared to FSRNX (5.05%). In terms of maximum drawdown, VGSIX dropped -73.13% vs FSRNX's -44.26%.
VGSIX currently has the higher Sharpe Ratio (0.76 vs 0.75), 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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