- ISIN
- US7799191090
- CUSIP
- 779919109
- Issuer
- T. Rowe Price
- Inception Date
- Oct 31, 1997
- Category
- REIT
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Real Estate
Share Price Chart
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Performance
TRREX Performance Chart
T. Rowe Price Real Estate Fund (TRREX) is up 11.0% since the beginning of the year. TRREX is currently trading at $12 per share. Investors who bought $1,000 worth of TRREX shares 5 years ago would now be looking at an investment worth $1,148.
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Returns By Period
T. Rowe Price Real Estate Fund (TRREX) has returned 10.95% so far this year and 10.68% over the past 12 months. Over the last ten years, TRREX has returned 5.51% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
T. Rowe Price Real Estate Fund
- 1D
- -0.08%
- 1M
- -1.25%
- YTD
- 10.95%
- 6M
- 11.06%
- 1Y
- 10.68%
- 3Y*
- 7.80%
- 5Y*
- 2.80%
- 10Y*
- 5.51%
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%
TRREX Monthly Returns History
Based on dividend-adjusted daily data since Oct 31, 1997, TRREX's average daily return is +0.05%, while the average monthly return is +0.86%. At this rate, an investment would double in approximately 6.7 years.
Historically, 60% of months were positive and 40% were negative. The best month was Apr 2009 with a return of +36.2%, while the worst month was Oct 2008 at -31.5%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 6 months.
On a daily basis, TRREX closed higher 51% of trading days. The best single day was Nov 24, 2008 with a return of +16.5%, while the worst single day was Mar 16, 2020 at -18.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.24% | 6.57% | -5.92% | 8.33% | -0.08% | 0.00% | 10.95% | ||||||
| 2025 | 1.39% | 4.64% | -3.16% | -2.89% | 0.79% | -0.93% | -1.33% | 3.59% | 0.22% | -2.09% | 2.66% | -2.56% | -0.04% |
| 2024 | -4.95% | 1.91% | 1.31% | -8.97% | 5.67% | 2.33% | 7.27% | 5.48% | 2.55% | -4.27% | 3.84% | -7.07% | 3.54% |
| 2023 | 10.33% | -5.66% | -1.20% | 0.65% | -4.62% | 5.44% | 2.11% | -3.26% | -6.28% | -2.74% | 10.71% | 8.89% | 13.00% |
| 2022 | -7.09% | -2.29% | 6.89% | -3.75% | -7.09% | -8.10% | 8.46% | -5.37% | -11.72% | 2.64% | 5.28% | -5.34% | -26.08% |
| 2021 | -0.06% | 4.84% | 4.78% | 7.76% | 1.44% | 2.99% | 5.33% | 1.41% | -4.18% | 7.95% | -0.84% | 8.81% | 47.34% |
Benchmark Metrics
T. Rowe Price Real Estate Fund has an annualized alpha of 3.20%, beta of 0.89, and R2 of 0.46 versus S&P 500 Index. Calculated based on daily prices since October 31, 1997.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (88.72%) than losses (85.29%) - typical of diversified or defensive assets.
- R2 of 0.46 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 3.20%
- Beta
- 0.89
- R²
- 0.46
- Upside Capture
- 88.72%
- Downside Capture
- 85.29%
Expense Ratio
TRREX has an expense ratio of 0.77%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TRREX ranks 12 for risk / return — in the bottom 12% 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 T. Rowe Price Real Estate Fund (TRREX) 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.
| TRREX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.26 | ||
| Sortino ratioReturn per unit of downside risk | -1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.37 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 2.78 | -1.44 |
| Martin ratioReturn relative to average drawdown | 4.12 | 12.44 | -8.32 |
Dividends
Dividend History
T. Rowe Price Real Estate Fund provided a 6.60% dividend yield over the last twelve months, with an annual payout of $0.78 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.78 | $0.77 | $1.08 | $1.41 | $3.06 | $3.11 | $6.68 | $8.31 | $1.42 | $0.75 | $0.65 | $0.62 |
Dividend yield | 6.60% | 7.15% | 9.44% | 11.63% | 25.52% | 15.42% | 41.93% | 32.33% | 5.73% | 2.61% | 2.28% | 2.26% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Real Estate 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 | $0.07 | $0.00 | $0.00 | $0.00 | $0.07 | ||||||
| 2025 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.55 | $0.77 |
| 2024 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.86 | $1.08 |
| 2023 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $1.17 | $1.41 |
| 2022 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $2.84 | $3.06 |
| 2021 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $2.85 | $3.11 |
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 T. Rowe Price Real Estate 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 T. Rowe Price Real Estate Fund was 75.30%, occurring on Mar 6, 2009. Recovery took 1027 trading sessions.
The current T. Rowe Price Real Estate Fund drawdown is 4.86%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -75.30%Mar 2009 | 2y 27d | 4y 1mo | 6y 1moFeb 2007 - Apr 2013 |
COVID crash2020 | -42.28%Mar 2020 | 1mo 4d | 1y 2mo | 1y 3moFeb 2020 - May 2021 |
2023 bear market2023 | -33.21%Oct 2023 | 1y 6mo | — | 4y 2moApr 2022 - now |
1998 bear market1998 | -24.30%Oct 1998 | 6mo 3d | 1y 9mo | 2y 3moApr 1998 - Jul 2000 |
Dot-com crash2000–2002 | -17.27%Oct 2002 | 5mo 27d | 6mo 16d | 1y 8dApr 2002 - Apr 2003 |
Drawdown Indicators
| TRREX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.30% | -56.78% | -18.52% |
Max Drawdown (1Y)Largest decline over 1 year | -7.96% | -9.10% | +1.14% |
Max Drawdown (3Y)Largest decline over 3 years | -18.10% | -18.90% | +0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -33.21% | -25.43% | -7.78% |
Max Drawdown (10Y)Largest decline over 10 years | -42.28% | -33.92% | -8.36% |
Current DrawdownCurrent decline from peak | -4.86% | -1.80% | -3.06% |
Average DrawdownAverage peak-to-trough decline | -12.72% | -10.71% | -2.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 2.03% | +0.57% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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