- ISIN
- US78386T7836
- Issuer
- SA Funds
- Inception Date
- Apr 2, 2007
- Category
- REIT
- Min. Investment
- $100,000
- Distribution Policy
- Distributing
- Asset Class
- Real Estate
Share Price Chart
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Performance
SAREX Performance Chart
SA Real Estate Securities Fund (SAREX) is up 12.4% since the beginning of the year. SAREX is currently trading at $12 per share. Investors who bought $1,000 worth of SAREX shares 5 years ago would now be looking at an investment worth $1,141.
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Returns By Period
SA Real Estate Securities Fund (SAREX) has returned 12.41% so far this year and 11.34% over the past 12 months. Over the last ten years, SAREX has returned 5.05% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
SA Real Estate Securities Fund
- 1D
- -0.08%
- 1M
- -1.36%
- YTD
- 12.41%
- 6M
- 12.82%
- 1Y
- 11.34%
- 3Y*
- 8.58%
- 5Y*
- 2.68%
- 10Y*
- 5.05%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
SAREX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2008, SAREX's average daily return is +0.04%, while the average monthly return is +0.71%. At this rate, an investment would double in approximately 8.2 years.
Historically, 59% of months were positive and 41% were negative. The best month was Apr 2009 with a return of +30.9%, while the worst month was Oct 2008 at -31.8%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 4 months.
On a daily basis, SAREX closed higher 51% of trading days. The best single day was Nov 24, 2008 with a return of +18.2%, while the worst single day was Dec 1, 2008 at -19.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.55% | 7.47% | -6.37% | 9.11% | 0.16% | -0.32% | 12.41% | ||||||
| 2025 | 2.23% | 1.83% | -1.80% | -1.74% | 0.89% | 0.00% | -1.49% | 2.50% | 1.04% | -2.76% | 2.48% | -2.23% | 0.73% |
| 2024 | -4.79% | 1.80% | 1.58% | -7.71% | 5.37% | 2.36% | 6.91% | 5.69% | 2.94% | -3.57% | 3.53% | -8.10% | 4.61% |
| 2023 | 9.98% | -5.90% | -1.78% | 0.38% | -4.27% | 5.06% | 1.89% | -3.34% | -7.09% | -2.99% | 11.70% | 8.70% | 10.60% |
| 2022 | -8.05% | -4.09% | 7.15% | -3.91% | -4.73% | -6.90% | 8.42% | -5.92% | -12.58% | 3.08% | 5.98% | -4.94% | -25.42% |
| 2021 | -0.00% | 2.52% | 5.51% | 7.96% | 0.82% | 3.03% | 4.52% | 1.99% | -5.99% | 7.08% | -1.27% | 9.66% | 40.94% |
Benchmark Metrics
SA Real Estate Securities Fund has an annualized alpha of -1.40%, beta of 1.13, and R2 of 0.53 versus S&P 500 Index. Calculated based on daily prices since January 02, 2008.
- This fund participated in 102.97% of S&P 500 Index downside but only 90.22% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 1.13 and R2 of 0.53, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -1.40%
- Beta
- 1.13
- R²
- 0.53
- Upside Capture
- 90.22%
- Downside Capture
- 102.97%
Expense Ratio
SAREX has an expense ratio of 0.75%, placing it in the medium range.
Return for Risk
Risk / Return Rank
SAREX ranks 9 for risk / return — in the bottom 9% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for SA Real Estate Securities Fund (SAREX) and compare them to S&P 500 Index.
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.
| SAREX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -1.89 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.37 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 2.78 | -1.87 |
| Martin ratioReturn relative to average drawdown | 3.22 | 12.44 | -9.22 |
Dividends
Dividend History
SA Real Estate Securities Fund provided a 2.86% dividend yield over the last twelve months, with an annual payout of $0.35 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.35 | $0.35 | $0.36 | $0.34 | $0.79 | $1.24 | $0.44 | $0.55 | $0.42 | $0.33 | $0.41 | $0.19 |
Dividend yield | 2.86% | 3.22% | 3.22% | 3.04% | 7.62% | 8.33% | 3.87% | 4.29% | 3.98% | 2.90% | 3.67% | 1.80% |
Monthly Dividends
The table displays the monthly dividend distributions for SA Real Estate Securities Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.35 | $0.35 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.36 | $0.36 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.34 | $0.34 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.79 | $0.79 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.24 | $1.24 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the SA Real Estate Securities Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the SA Real Estate Securities Fund was 68.50%, occurring on Mar 6, 2009. Recovery took 541 trading sessions.
The current SA Real Estate Securities Fund drawdown is 4.57%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -68.50%Mar 2009 | 9mo 24d | 2y 1mo | 2y 11moMay 2008 - Apr 2011 |
COVID crash2020 | -41.56%Mar 2020 | 28d | 1y 28d | 1y 1moFeb 2020 - Apr 2021 |
2023 bear market2023 | -33.87%Oct 2023 | 1y 9mo | 2y 5mo | 4y 2moJan 2022 - Mar 2026 |
2011 bear market2011 | -23.02%Aug 2011 | 14d | 5mo 27d | 6mo 11dJul 2011 - Feb 2012 |
2013 correction2013 | -18.09%Aug 2013 | 2mo 29d | 9mo 20d | 1y 14dMay 2013 - Jun 2014 |
Drawdown Indicators
| SAREX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.50% | -56.78% | -11.72% |
Max Drawdown (1Y)Largest decline over 1 year | -13.63% | -9.10% | -4.53% |
Max Drawdown (3Y)Largest decline over 3 years | -18.07% | -18.90% | +0.83% |
Max Drawdown (5Y)Largest decline over 5 years | -33.87% | -25.43% | -8.44% |
Max Drawdown (10Y)Largest decline over 10 years | -41.56% | -33.92% | -7.64% |
Current DrawdownCurrent decline from peak | -4.57% | -1.80% | -2.77% |
Average DrawdownAverage peak-to-trough decline | -12.54% | -10.71% | -1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.73% | 2.03% | +1.70% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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