BIREX vs. PRRSX

Last updated Jun 4, 2026

BIREX (BlackRock Real Estate Securities Fund) and PRRSX (PIMCO Variable Insurance Trust Real Estate Real Return Strategy Fund) are both REIT funds. Over the past 10 years, BIREX returned 6.43%/yr vs 6.58%/yr for PRRSX. With a 0.96 correlation, they move nearly in lockstep. BIREX charges 0.75%/yr vs 0.79%/yr for PRRSX.

Performance

BIREX vs. PRRSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Real Estate Securities Fund (BIREX) and PIMCO Variable Insurance Trust Real Estate Real Return Strategy Fund (PRRSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BIREX having a 12.38% return and PRRSX slightly lower at 12.29%. Both investments have delivered pretty close results over the past 10 years, with BIREX having a 6.43% annualized return and PRRSX not far ahead at 6.58%.

BIREX

• 1D: 0.61%
• 1M: 0.06%
• YTD: 12.38%
• 6M: 11.46%
• 1Y: 14.46%
• 3Y*: 10.54%
• 5Y*: 3.28%
• 10Y*: 6.43%

PRRSX

• 1D: 0.57%
• 1M: -0.89%
• YTD: 12.29%
• 6M: 10.24%
• 1Y: 16.29%
• 3Y*: 11.03%
• 5Y*: 3.76%
• 10Y*: 6.58%

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

BIREX vs. PRRSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIREX BlackRock Real Estate Securities Fund	12.38%	3.08%	3.75%	13.57%	-27.58%	46.24%	-4.17%	27.75%	-2.95%	6.19%
PRRSX PIMCO Variable Insurance Trust Real Estate Real Return Strategy Fund	12.29%	5.21%	5.11%	12.30%	-29.37%	53.74%	-3.80%	29.61%	-6.42%	4.32%

Correlation

The correlation between BIREX and PRRSX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.96

The correlation between BIREX and PRRSX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

BIREX vs. PRRSX — Risk / Return Rank

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

BIREX

BIREX Risk / Return Rank: 18
BIREX Sharpe Ratio Rank: 15
BIREX Sortino Ratio Rank: 14
BIREX Omega Ratio Rank: 15
BIREX Calmar Ratio Rank: 22
BIREX Martin Ratio Rank: 22

PRRSX

PRRSX Risk / Return Rank: 18
PRRSX Sharpe Ratio Rank: 15
PRRSX Sortino Ratio Rank: 14
PRRSX Omega Ratio Rank: 14
PRRSX Calmar Ratio Rank: 22
PRRSX Martin Ratio Rank: 24

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. PRRSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Real Estate Securities Fund (BIREX) and PIMCO Variable Insurance Trust Real Estate Real Return Strategy Fund (PRRSX). 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	PRRSX	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.10	0.00
Sortino ratio: Return per unit of downside risk	1.53	1.53	0.00
Omega ratio: Gain probability vs. loss probability	1.20	1.19	0.00
Calmar ratio: Return relative to maximum drawdown	1.74	1.73	+0.02
Martin ratio: Return relative to average drawdown	5.75	5.95	-0.20
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. PRRSX - Sharpe Ratio Comparison

The current BIREX Sharpe Ratio is 1.09, which is comparable to the PRRSX Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of BIREX and PRRSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BIREX	PRRSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	1.10	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.19	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.30	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.35	+0.04

Drawdowns

BIREX vs. PRRSX - Drawdown Comparison

The maximum BIREX drawdown since its inception was -41.92%, smaller than the maximum PRRSX drawdown of -77.82%. Use the drawdown chart below to compare losses from any high point for BIREX and PRRSX.

Drawdown Indicators

	BIREX	PRRSX	Difference
Max Drawdown Largest peak-to-trough decline	-41.92%	-77.82%	+35.90%
Max Drawdown (1Y) Largest decline over 1 year	-8.16%	-9.05%	+0.89%
Max Drawdown (3Y) Largest decline over 3 years	-18.05%	-17.77%	-0.28%
Max Drawdown (5Y) Largest decline over 5 years	-34.76%	-37.14%	+2.38%
Max Drawdown (10Y) Largest decline over 10 years	-41.92%	-45.75%	+3.83%
Current Drawdown Current decline from peak	-2.42%	-3.11%	+0.69%
Average Drawdown Average peak-to-trough decline	-9.73%	-13.09%	+3.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.46%	2.62%	-0.16%

Volatility

BIREX vs. PRRSX - Volatility Comparison

The current volatility for BlackRock Real Estate Securities Fund (BIREX) is 3.78%, while PIMCO Variable Insurance Trust Real Estate Real Return Strategy Fund (PRRSX) has a volatility of 4.33%. This indicates that BIREX experiences smaller price fluctuations and is considered to be less risky than PRRSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIREX	PRRSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.78%	4.33%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	9.55%	10.18%	-0.63%
Volatility (1Y) Calculated over the trailing 1-year period	13.00%	14.26%	-1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.75%	20.20%	-1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.89%	21.87%	-0.98%

BIREX vs. PRRSX - Expense Ratio Comparison

BIREX has a 0.75% expense ratio, which is lower than PRRSX's 0.79% expense ratio.

Dividends

BIREX vs. PRRSX - Dividend Comparison

BIREX's dividend yield for the trailing twelve months is around 2.71%, more than PRRSX's 0.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIREX BlackRock Real Estate Securities Fund	2.71%	2.98%	2.88%	2.87%	4.36%	1.63%	2.16%	1.93%	3.07%	9.88%	6.72%	6.75%
PRRSX PIMCO Variable Insurance Trust Real Estate Real Return Strategy Fund	0.79%	2.19%	0.61%	0.00%	18.62%	34.01%	7.21%	7.99%	0.81%	1.67%	0.66%	8.38%

Frequently Asked Questions

Can I hold both BIREX and PRRSX in my portfolio?

With a correlation of 0.97, BIREX and PRRSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BIREX or PRRSX?

PRRSX has higher volatility (4.33%) compared to BIREX (3.78%). In terms of maximum drawdown, BIREX dropped -41.92% vs PRRSX's -77.82%.

Which has better risk-adjusted returns?

PRRSX currently has the higher Sharpe Ratio (1.10 vs 1.09), 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.