AAAAX vs. T

Last updated Jun 23, 2026

AAAAX (DWS RREEF Real Assets Fund - Class A) is Diversified Portfolio fund managed by DWS, while T (AT&T Inc.) is a stock. Over the past 10 years, AAAAX returned 6.87%/yr vs 2.37%/yr for T. At a 0.44 correlation, their price movements are largely independent.

Performance

AAAAX vs. T - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DWS RREEF Real Assets Fund - Class A (AAAAX) and AT&T Inc. (T). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAAAX achieves a 8.20% return, which is significantly higher than T's -9.05% return. Over the past 10 years, AAAAX has outperformed T with an annualized return of 6.87%, while T has yielded a comparatively lower 2.37% annualized return.

AAAAX

• 1D: -0.36%
• 1M: -3.72%
• YTD: 8.20%
• 6M: 8.62%
• 1Y: 13.59%
• 3Y*: 9.70%
• 5Y*: 5.18%
• 10Y*: 6.87%

T

• 1D: 0.41%
• 1M: -12.51%
• YTD: -9.05%
• 6M: -7.03%
• 1Y: -16.95%
• 3Y*: 18.94%
• 5Y*: 6.49%
• 10Y*: 2.37%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAAAX vs. T - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AAAAX DWS RREEF Real Assets Fund - Class A	8.20%	12.82%	5.24%	2.30%	-9.91%	23.45%	3.71%	21.42%	-5.36%	14.67%
T AT&T Inc.	-9.05%	13.97%	44.08%	-2.74%	5.76%	-8.09%	-21.37%	45.55%	-22.25%	-4.01%

Correlation

The correlation between AAAAX and T is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jul 31, 2007	0.44

Over the past year, the correlation between AAAAX and T has dropped to 0.22 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.

Return for Risk

AAAAX vs. T — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAAAX

AAAAX Risk / Return Rank: 34
AAAAX Sharpe Ratio Rank: 30
AAAAX Sortino Ratio Rank: 27
AAAAX Omega Ratio Rank: 30
AAAAX Calmar Ratio Rank: 43
AAAAX Martin Ratio Rank: 38

T

T Risk / Return Rank: 11
T Sharpe Ratio Rank: 10
T Sortino Ratio Rank: 12
T Omega Ratio Rank: 13
T Calmar Ratio Rank: 15
T Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAAAX vs. T - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DWS RREEF Real Assets Fund - Class A (AAAAX) and AT&T Inc. (T). 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.

	AAAAX	T	Difference
Sharpe ratio: Return per unit of total volatility	1.47	-0.76	+2.23
Sortino ratio: Return per unit of downside risk	2.01	-0.99	+3.00
Omega ratio: Gain probability vs. loss probability	1.27	0.89	+0.38
Calmar ratio: Return relative to maximum drawdown	2.40	-0.72	+3.12
Martin ratio: Return relative to average drawdown	7.83	-1.54	+9.36

AAAAX vs. T - Sharpe Ratio Comparison

The current AAAAX Sharpe Ratio is 1.47, which is higher than the T Sharpe Ratio of -0.76. The chart below compares the historical Sharpe Ratios of AAAAX and T, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AAAAX vs. T - Drawdown Comparison

The maximum AAAAX drawdown since its inception was -40.47%, smaller than the maximum T drawdown of -64.15%. Use the drawdown chart below to compare losses from any high point for AAAAX and T.

Drawdown Indicators

	AAAAX	T	Difference
Max Drawdown Largest peak-to-trough decline	-40.47%	-64.15%	+23.68%
Max Drawdown (1Y) Largest decline over 1 year	-5.68%	-23.57%	+17.89%
Max Drawdown (3Y) Largest decline over 3 years	-10.17%	-23.57%	+13.40%
Max Drawdown (5Y) Largest decline over 5 years	-22.62%	-32.01%	+9.39%
Max Drawdown (10Y) Largest decline over 10 years	-29.41%	-42.35%	+12.94%
Current Drawdown Current decline from peak	-4.92%	-23.26%	+18.34%
Average Drawdown Average peak-to-trough decline	-6.84%	-15.72%	+8.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	11.06%	-9.33%

Volatility

AAAAX vs. T - Volatility Comparison

The current volatility for DWS RREEF Real Assets Fund - Class A (AAAAX) is 2.50%, while AT&T Inc. (T) has a volatility of 7.92%. This indicates that AAAAX experiences smaller price fluctuations and is considered to be less risky than T based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAAAX	T	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	7.92%	-5.42%
Volatility (6M) Calculated over the trailing 6-month period	7.49%	18.08%	-10.59%
Volatility (1Y) Calculated over the trailing 1-year period	9.25%	22.46%	-13.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.10%	24.08%	-11.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.70%	23.77%	-11.07%

Dividends

AAAAX vs. T - Dividend Comparison

AAAAX's dividend yield for the trailing twelve months is around 3.27%, less than T's 5.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAAAX DWS RREEF Real Assets Fund - Class A	3.27%	3.54%	2.45%	2.08%	4.17%	2.31%	1.33%	1.81%	1.61%	1.52%	1.47%	2.15%
T AT&T Inc.	5.02%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%

Frequently Asked Questions

Can I hold both AAAAX and T in my portfolio?

AAAAX and T have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAAAX or T?

T has higher volatility (7.92%) compared to AAAAX (2.50%). In terms of maximum drawdown, AAAAX dropped -40.47% vs T's -64.15%.

Which has better risk-adjusted returns?

AAAAX currently has the higher Sharpe Ratio (1.47 vs -0.76), 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.