BIREX vs. CREMX

Last updated Apr 2, 2026

Compare and contrast key facts about BlackRock Real Estate Securities Fund (BIREX) and Redwood Real Estate Income Fund (CREMX).

BIREX is managed by BlackRock. It was launched on Sep 28, 2012. CREMX is an actively managed fund by Redwood. It was launched on Jun 23, 2023.

Performance

BIREX vs. CREMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Real Estate Securities Fund (BIREX) and Redwood Real Estate Income Fund (CREMX). The values are adjusted to include any dividend payments, if applicable.

BIREX vs. CREMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BIREX BlackRock Real Estate Securities Fund	3.71%	3.08%	3.75%	11.37%
CREMX Redwood Real Estate Income Fund	1.28%	7.72%	8.09%	1.95%

Returns By Period

In the year-to-date period, BIREX achieves a 3.71% return, which is significantly higher than CREMX's 1.28% return.

BIREX

• 1D: 1.59%
• 1M: -6.33%
• YTD: 3.71%
• 6M: 1.99%
• 1Y: 4.64%
• 3Y*: 7.17%
• 5Y*: 3.58%
• 10Y*: 5.63%

CREMX

• 1D: -0.55%
• 1M: -0.04%
• YTD: 1.28%
• 6M: 3.22%
• 1Y: 7.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BIREX vs. CREMX - Expense Ratio Comparison

BIREX has a 0.75% expense ratio, which is lower than CREMX's 5.16% expense ratio.

CREMX

Redwood Real Estate Income Fund

BIREX

BlackRock Real Estate Securities Fund

Return for Risk

BIREX vs. CREMX — Risk / Return Rank

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

BIREX

BIREX Risk / Return Rank: 12
BIREX Sharpe Ratio Rank: 10
BIREX Sortino Ratio Rank: 9
BIREX Omega Ratio Rank: 9
BIREX Calmar Ratio Rank: 14
BIREX Martin Ratio Rank: 17

CREMX

CREMX Risk / Return Rank: 100
CREMX Sharpe Ratio Rank: 100
CREMX Sortino Ratio Rank: 100
CREMX Omega Ratio Rank: 100
CREMX Calmar Ratio Rank: 99
CREMX Martin Ratio Rank: 100

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.

BIREX vs. CREMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Real Estate Securities Fund (BIREX) and Redwood Real Estate Income Fund (CREMX). 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.

	BIREX	CREMX	Difference
Sharpe ratio Return per unit of total volatility	0.29	9.78	-9.49
Sortino ratio Return per unit of downside risk	0.50	12.29	-11.79
Omega ratio Gain probability vs. loss probability	1.07	11.91	-10.84
Calmar ratio Return relative to maximum drawdown	0.47	12.82	-12.35
Martin ratio Return relative to average drawdown	1.94	85.27	-83.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BIREX vs. CREMX - Sharpe Ratio Comparison

The current BIREX Sharpe Ratio is 0.29, which is lower than the CREMX Sharpe Ratio of 9.78. The chart below compares the historical Sharpe Ratios of BIREX and CREMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BIREX	CREMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.29	9.78	-9.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	7.88	-7.52

Correlation

The correlation between BIREX and CREMX is -0.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

BIREX vs. CREMX - Dividend Comparison

BIREX's dividend yield for the trailing twelve months is around 2.87%, less than CREMX's 6.69% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIREX BlackRock Real Estate Securities Fund	2.87%	2.98%	2.88%	2.87%	4.36%	1.63%	2.16%	1.93%	3.07%	9.88%	6.72%	6.75%
CREMX Redwood Real Estate Income Fund	6.69%	7.38%	7.64%	1.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

BIREX vs. CREMX - Drawdown Comparison

The maximum BIREX drawdown since its inception was -41.92%, which is greater than CREMX's maximum drawdown of -0.71%. Use the drawdown chart below to compare losses from any high point for BIREX and CREMX.

Drawdown Indicators

	BIREX	CREMX	Difference
Max Drawdown Largest peak-to-trough decline	-41.92%	-0.71%	-41.21%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-0.55%	-11.54%
Max Drawdown (5Y) Largest decline over 5 years	-34.76%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.92%	—	—
Current Drawdown Current decline from peak	-8.78%	-0.55%	-8.23%
Average Drawdown Average peak-to-trough decline	-9.83%	-0.02%	-9.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	0.08%	+2.84%

Volatility

BIREX vs. CREMX - Volatility Comparison

BlackRock Real Estate Securities Fund (BIREX) has a higher volatility of 4.53% compared to Redwood Real Estate Income Fund (CREMX) at 0.59%. This indicates that BIREX's price experiences larger fluctuations and is considered to be riskier than CREMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIREX	CREMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.53%	0.59%	+3.94%
Volatility (6M) Calculated over the trailing 6-month period	9.19%	0.65%	+8.54%
Volatility (1Y) Calculated over the trailing 1-year period	16.08%	0.89%	+15.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.77%	0.96%	+17.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.89%	0.96%	+19.93%