ACWX vs. PJEZX
ACWX (iShares MSCI ACWI ex U.S. ETF) and PJEZX (PGIM US Real Estate Fund) are both funds - ACWX is a Foreign Large Cap Equities fund tracking the MSCI All Country World ex-U.S. Index, while PJEZX is a REIT fund managed by PGIM. Over the past 10 years, ACWX returned 10.05%/yr vs 9.27%/yr for PJEZX. A 0.54 correlation means they provide meaningful diversification when combined. ACWX charges 0.32%/yr vs 1.00%/yr for PJEZX.
Performance
ACWX vs. PJEZX - Performance Comparison
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Returns By Period
In the year-to-date period, ACWX achieves a 13.90% return, which is significantly lower than PJEZX's 16.61% return. Over the past 10 years, ACWX has outperformed PJEZX with an annualized return of 10.05%, while PJEZX has yielded a comparatively lower 9.27% annualized return.
ACWX
- 1D
- 0.42%
- 1M
- 1.39%
- YTD
- 13.90%
- 6M
- 15.65%
- 1Y
- 30.35%
- 3Y*
- 18.44%
- 5Y*
- 8.26%
- 10Y*
- 10.05%
PJEZX
- 1D
- 0.28%
- 1M
- 1.18%
- YTD
- 16.61%
- 6M
- 16.76%
- 1Y
- 18.59%
- 3Y*
- 13.69%
- 5Y*
- 5.64%
- 10Y*
- 9.27%
ACWX vs. PJEZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ACWX iShares MSCI ACWI ex U.S. ETF | 13.90% | 32.59% | 5.17% | 15.63% | -16.07% | 7.67% | 10.29% | 21.05% | -13.99% | 27.20% |
PJEZX PGIM US Real Estate Fund | 16.61% | 2.49% | 13.08% | 15.85% | -27.26% | 48.32% | -4.86% | 44.30% | -3.54% | 5.60% |
Correlation
The correlation between ACWX and PJEZX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Dec 21, 2010 | 0.54 |
The correlation between ACWX and PJEZX shifts across timeframes, from 0.39 (1 year) to 0.55 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ACWX vs. PJEZX — Risk / Return Rank
ACWX
PJEZX
ACWX vs. PJEZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI ex U.S. ETF (ACWX) and PGIM US Real Estate Fund (PJEZX). 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.
| ACWX | PJEZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.23 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 2.48 | +0.04 |
| Martin ratioReturn relative to average drawdown | 9.66 | 7.29 | +2.37 |
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Drawdowns
ACWX vs. PJEZX - Drawdown Comparison
The maximum ACWX drawdown since its inception was -60.40%, which is greater than PJEZX's maximum drawdown of -43.43%. Use the drawdown chart below to compare losses from any high point for ACWX and PJEZX.
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Drawdown Indicators
| ACWX | PJEZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.40% | -43.43% | -16.97% |
Max Drawdown (1Y)Largest decline over 1 year | -11.42% | -7.32% | -4.10% |
Max Drawdown (3Y)Largest decline over 3 years | -13.84% | -19.19% | +5.35% |
Max Drawdown (5Y)Largest decline over 5 years | -30.01% | -34.60% | +4.59% |
Max Drawdown (10Y)Largest decline over 10 years | -35.38% | -43.43% | +8.05% |
Current DrawdownCurrent decline from peak | -1.41% | -0.39% | -1.02% |
Average DrawdownAverage peak-to-trough decline | -13.32% | -8.10% | -5.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 2.48% | +0.50% |
Volatility
ACWX vs. PJEZX - Volatility Comparison
iShares MSCI ACWI ex U.S. ETF (ACWX) has a higher volatility of 6.97% compared to PGIM US Real Estate Fund (PJEZX) at 4.66%. This indicates that ACWX's price experiences larger fluctuations and is considered to be riskier than PJEZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ACWX | PJEZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.97% | 4.66% | +2.31% |
Volatility (6M)Calculated over the trailing 6-month period | 14.32% | 9.97% | +4.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.43% | 13.74% | +2.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.46% | 18.92% | -2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.43% | 21.16% | -3.73% |
ACWX vs. PJEZX - Expense Ratio Comparison
ACWX has a 0.32% expense ratio, which is lower than PJEZX's 1.00% expense ratio.
Dividends
ACWX vs. PJEZX - Dividend Comparison
ACWX's dividend yield for the trailing twelve months is around 2.48%, more than PJEZX's 1.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWX iShares MSCI ACWI ex U.S. ETF | 2.48% | 2.82% | 2.97% | 2.96% | 2.68% | 2.74% | 1.88% | 3.22% | 2.60% | 2.40% | 2.77% | 2.51% |
PJEZX PGIM US Real Estate Fund | 1.79% | 2.05% | 1.93% | 1.65% | 3.21% | 9.54% | 1.56% | 13.21% | 5.43% | 6.31% | 15.48% | 9.39% |
Frequently Asked Questions
ACWX and PJEZX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACWX has higher volatility (6.97%) compared to PJEZX (4.66%). In terms of maximum drawdown, ACWX dropped -60.40% vs PJEZX's -43.43%.
ACWX currently has the higher Sharpe Ratio (1.75 vs 1.32), 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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