First Trust S&P REIT Index Fund (FRI) Performance
FRI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +12.3% since Dec 31, 2025
- 1 year
- +9.5% total return
- 5 years
- +2.9% a year
- 10 years
- +5.6% a year
- Since first price
- +4.9% a year since 2007
FRI trailing returns vs SPY, QQQ, AGG
| Period | FRI total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.2% | +0.2% | −1.0% | −5.0% | +0.9% |
| 3 months | −6.7% | −7.3% | +3.2% | +1.9% | −0.4% |
| 6 months | +0.3% | −0.9% | +7.8% | +8.4% | −1.5% |
| YTD | +12.3% | +10.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +9.5% | +6.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +52.0%+15.0%/yr | +39.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +15.1%+2.9%/yr | −0.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +73.2%+5.6%/yr | +30.0% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +210.1%+7.8%/yr | +105.0% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionMay 10, 2007 | +154.7%+4.9%/yr | +50.4% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FRI vs SPY
From May 10, 2007: FRI grew to $25,474, SPY to $72,541.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FRI returns by calendar year
14 of 18 full years positive. Best 2021 (+42.6%), worst 2008 (−39.2%). 2026 is year to date.
FRI annual returns table
| Year | FRI | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +12.3% | −12.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +2.8% | −16.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +7.8% | −10.1% | +24.9% | +25.6% | +1.3% |
| 2023 | +13.3% | −19.6% | +26.2% | +54.9% | +5.7% |
| 2022 | −24.7% | −30.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +42.6% | −7.1% | +28.7% | +27.4% | −1.8% |
| 2020 | −7.9% | −44.2% | +18.3% | +48.6% | +7.5% |
| 2019 | +23.7% | −6.4% | +31.2% | +39.0% | +8.5% |
| 2018 | −4.3% | −13.1% | −4.6% | −0.1% | +0.1% |
| 2017 | +3.9% | −6.6% | +21.7% | +32.7% | +3.6% |
| 2016 | +7.9% | −15.4% | +12.0% | +7.1% | +2.4% |
| 2015 | +1.9% | −17.4% | +1.2% | +9.4% | +0.5% |
| 2014 | +29.8% | −7.6% | +13.5% | +19.2% | +6.0% |
| 2013 | +1.8% | −18.3% | +32.3% | +36.6% | −2.0% |
| 2012 | +17.3% | −9.3% | +16.0% | +18.1% | +3.8% |
| 2011 | +8.1% | −23.2% | +1.9% | +3.4% | +7.7% |
| 2010 | +27.7% | −17.1% | +15.1% | +19.9% | +6.4% |
| 2009 | +28.6% | −42.7% | +26.4% | +54.7% | +3.0% |
| 2008 | −39.2% | −65.3% | −36.8% | −41.7% | +7.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FRI largest drawdowns
Now 8.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| May 30, 2007 | −72.0% | Mar 6, 2009 | Jul 2, 2012 | 1.8 years | 5.1 years |
| Feb 21, 2020 | −44.2% | Mar 23, 2020 | Apr 21, 2021 | 31 days | 1.2 years |
| Dec 31, 2021 | −31.2% | Oct 27, 2023 | Nov 27, 2024 | 1.8 years | 2.9 years |
| Nov 27, 2024 | −18.9% | Apr 8, 2025 | Feb 6, 2026 | 4 months | 1.2 years |
| May 21, 2013 | −18.3% | Aug 19, 2013 | Jun 5, 2014 | 3 months | 1.0 years |
| Jan 26, 2015 | −17.4% | Sep 4, 2015 | May 5, 2016 | 7 months | 1.3 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FRI risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +12.3% | +3.9% | +5.0% | +4.8% |
| Volatility (annualized) | 16.0% | 18.6% | 17.7% | 22.4% |
| Sharpe ratio | 0.53 | 0.10 | 0.24 | 0.26 |
| Sortino ratio | 0.87 | 0.15 | 0.33 | 0.37 |
| Best month | +10.4% | +10.4% | +11.8% | +33.3% |
| Worst month | −7.5% | −12.2% | −21.4% | −32.2% |
| Best 12 months | +35.7% | +35.7% | +51.5% | +112.4% |
| Worst 12 months | −2.6% | −24.7% | −24.7% | −60.1% |
| Positive months | 61% | 53% | 57% | 58% |
| Beta vs S&P 500 | 0.82 | 0.94 | 0.89 | — |
| Correlation with S&P 500 | 0.63 | 0.79 | 0.77 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FRI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 222 | −60.1% | +8.3% | +112.4% | 72% |
| 3-year (a year) | 198 | −11.1% | +7.8% | +43.5% | 87% |
| 5-year (a year) | 174 | −1.3% | +6.9% | +28.9% | 99% |
| 10-year (a year) | 114 | +3.9% | +6.5% | +18.0% | 100% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
FRI performance overview
First Trust S&P REIT Index Fund (FRI) returned +9.5% over the past year and +5.6% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +4.9% a year, turning $10,000 into about $25,474. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −72.0%, from May 30, 2007 to Mar 6, 2009, and it took 3.3 years to get back to the old high. FRI finished 14 of its 18 full calendar years with a gain; the best year was 2021 (+42.6%) and the worst 2008 (−39.2%). Volatility has been 22.4% a year.
Related: FRI chart, FRI holdings, FRI dividends, FRI valuation. See the FRI overview for the latest quote and fund facts.
FRI performance FAQ
What is the FRI return over the past year?
FRI returned +9.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 6.5%.
What is the average annual return of FRI?
FRI has returned +2.9% a year over 5 years, +5.6% a year over 10 years, +4.9% a year since May 10, 2007 (total return, distributions reinvested).
How much would $10,000 invested in FRI be worth?
$10,000 invested in FRI at its first recorded close on May 10, 2007 would be worth about $25,474 on October 23, 2026 with distributions reinvested.
What was the worst year for FRI?
The worst calendar year was 2008, with a total return of −39.2%. The best was 2021 at +42.6%.
What is the biggest drawdown of FRI?
The largest peak-to-trough decline was −72.0% between May 30, 2007 and March 6, 2009. It recovered to the old high on July 2, 2012, 3.3 years after the bottom.
How volatile is FRI?
Over the past 3 years FRI had an annualized volatility of 16.0% and a Sharpe ratio of 0.53 (excess return over 1–3 month T-bills per unit of risk).