BREFX vs. STRC

Last updated Jun 5, 2026

BREFX (Baron Real Estate Fund Retail Shares) is REIT fund actively managed by Baron Capital, while STRC (MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock) is a stock. At a 0.23 correlation, their price movements are largely independent.

Performance

BREFX vs. STRC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Real Estate Fund Retail Shares (BREFX) and MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BREFX achieves a 0.05% return, which is significantly lower than STRC's 1.28% return.

BREFX

• 1D: -0.68%
• 1M: -0.40%
• YTD: 0.05%
• 6M: -0.50%
• 1Y: 11.56%
• 3Y*: 10.49%
• 5Y*: 2.12%
• 10Y*: 10.70%

STRC

• 1D: 0.81%
• 1M: -3.62%
• YTD: 1.28%
• 6M: 2.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BREFX vs. STRC - Yearly Performance Comparison

	2026 (YTD)	2025
BREFX Baron Real Estate Fund Retail Shares	0.05%	1.92%
STRC MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock	1.28%	9.19%

Correlation

The correlation between BREFX and STRC is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025	0.23

Return for Risk

BREFX vs. STRC — Risk / Return Rank

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

BREFX

BREFX Risk / Return Rank: 10
BREFX Sharpe Ratio Rank: 10
BREFX Sortino Ratio Rank: 10
BREFX Omega Ratio Rank: 9
BREFX Calmar Ratio Rank: 11
BREFX Martin Ratio Rank: 10

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.

BREFX vs. STRC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Real Estate Fund Retail Shares (BREFX) and MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). 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.

	BREFX	STRC	Difference
Sharpe ratio: Return per unit of total volatility	0.74	—	—
Sortino ratio: Return per unit of downside risk	1.16	—	—
Omega ratio: Gain probability vs. loss probability	1.14	—	—
Calmar ratio: Return relative to maximum drawdown	0.97	—	—
Martin ratio: Return relative to average drawdown	2.77	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BREFX	STRC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.74	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	1.02	-0.40

Drawdowns

BREFX vs. STRC - Drawdown Comparison

The maximum BREFX drawdown since its inception was -38.52%, which is greater than STRC's maximum drawdown of -6.39%. Use the drawdown chart below to compare losses from any high point for BREFX and STRC.

Drawdown Indicators

	BREFX	STRC	Difference
Max Drawdown Largest peak-to-trough decline	-38.52%	-6.39%	-32.13%
Max Drawdown (1Y) Largest decline over 1 year	-12.60%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.98%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.05%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.52%	—	—
Current Drawdown Current decline from peak	-5.08%	-4.07%	-1.01%
Average Drawdown Average peak-to-trough decline	-7.69%	-0.55%	-7.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.41%	—	—

Volatility

Volatility by Period

	BREFX	STRC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.09%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.88%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.64%	12.44%	+4.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.71%	12.44%	+8.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.21%	12.44%	+8.77%

Dividends

BREFX vs. STRC - Dividend Comparison

BREFX's dividend yield for the trailing twelve months is around 3.64%, less than STRC's 9.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BREFX Baron Real Estate Fund Retail Shares	3.64%	3.64%	0.16%	0.06%	2.94%	8.17%	6.27%	13.89%	12.04%	4.77%	0.35%	1.98%
STRC MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock	9.42%	4.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BREFX and STRC in my portfolio?

BREFX and STRC have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.