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BRIIX vs. PFFR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BRIIX vs. PFFR

Last updated Jun 23, 2026

BRIIX (Baron Real Estate Income Fund) and PFFR (InfraCap REIT Preferred ETF) are both funds - BRIIX is a REIT fund managed by Baron Capital Group, Inc., while PFFR is a Preferred Stock/Convertible Bonds fund tracking the Indxx REIT Preferred Stock Index. Over the past 5 years, BRIIX returned 4.81%/yr vs 1.07%/yr for PFFR. At a 0.42 correlation, their price movements are largely independent. BRIIX charges 1.08%/yr vs 0.45%/yr for PFFR.

Performance

BRIIX vs. PFFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Real Estate Income Fund (BRIIX) and InfraCap REIT Preferred ETF (PFFR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BRIIX achieves a 11.20% return, which is significantly higher than PFFR's 2.11% return.

BRIIX

1D
1.44%
1M
1.39%
YTD
11.20%
6M
10.24%
1Y
16.92%
3Y*
13.28%
5Y*
4.81%
10Y*
—

PFFR

1D
-0.13%
1M
1.55%
YTD
2.11%
6M
1.32%
1Y
6.89%
3Y*
9.48%
5Y*
1.07%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

BRIIX vs. PFFR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BRIIX
Baron Real Estate Income Fund		11.20%3.73%17.32%15.52%-27.49%29.29%22.32%36.54%-11.02%0.00%
PFFR
InfraCap REIT Preferred ETF		2.11%5.36%7.12%21.04%-23.90%6.76%0.19%20.28%-7.45%-0.04%

Correlation

The correlation between BRIIX and PFFR is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.36

Correlation (3Y)
Calculated over the trailing 3-year period

0.41

Correlation (5Y)
Calculated over the trailing 5-year period

0.43

Correlation (All Time)
Calculated using the full available price history since Dec 29, 2017

0.42

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Baron Real Estate Income Fund

InfraCap REIT Preferred ETF

Often compared with BRIIX:
BRIIX vs. VRAIBRIIX vs. FESIXBRIIX vs. VGSLXBRIIX vs. VNQBRIIX vs. XLREBRIIX vs. SFREXBRIIX vs. CNQ
Often compared with PFFR:
PFFR vs. PFFPFFR vs. PFXFPFFR vs. RNPPFFR vs. VNQPFFR vs. FRIFXPFFR vs. KBWYPFFR vs. PICK

Return for Risk

BRIIX vs. PFFR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BRIIX
BRIIX Risk / Return Rank: 2727
Overall Rank
BRIIX Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
BRIIX Sortino Ratio Rank: 1919
Sortino Ratio Rank
BRIIX Omega Ratio Rank: 2020
Omega Ratio Rank
BRIIX Calmar Ratio Rank: 3838
Calmar Ratio Rank
BRIIX Martin Ratio Rank: 3535
Martin Ratio Rank
PFFR
PFFR Risk / Return Rank: 2323
Overall Rank
PFFR Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
PFFR Sortino Ratio Rank: 2424
Sortino Ratio Rank
PFFR Omega Ratio Rank: 2424
Omega Ratio Rank
PFFR Calmar Ratio Rank: 2323
Calmar Ratio Rank
PFFR Martin Ratio Rank: 2121
Martin Ratio Rank
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.

BRIIX vs. PFFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Real Estate Income Fund (BRIIX) and InfraCap REIT Preferred ETF (PFFR). 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.

BRIIXPFFRDifference
Sharpe ratioReturn per unit of total volatility
1.23
0.89

+0.34

Sortino ratioReturn per unit of downside risk
1.72
1.30

+0.42

Omega ratioGain probability vs. loss probability

1.22

1.16

+0.06

Calmar ratioReturn relative to maximum drawdown

2.22

1.05

+1.16

Martin ratioReturn relative to average drawdown

7.42

2.42

+4.99

BRIIX vs. PFFR - Sharpe Ratio Comparison

The current BRIIX Sharpe Ratio is 1.23, which is higher than the PFFR Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of BRIIX and PFFR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

BRIIX vs. PFFR - Drawdown Comparison

The maximum BRIIX drawdown since its inception was -37.06%, smaller than the maximum PFFR drawdown of -53.02%. Use the drawdown chart below to compare losses from any high point for BRIIX and PFFR.

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Drawdown Indicators

BRIIXPFFRDifference

Max Drawdown

Largest peak-to-trough decline

-37.06%

-53.02%

+15.96%

Max Drawdown (1Y)

Largest decline over 1 year

-7.61%

-6.57%

-1.04%

Max Drawdown (3Y)

Largest decline over 3 years

-17.53%

-11.16%

-6.37%

Max Drawdown (5Y)

Largest decline over 5 years

-32.86%

-29.80%

-3.06%

Current Drawdown

Current decline from peak

-1.35%

-1.79%

+0.44%

Average Drawdown

Average peak-to-trough decline

-8.55%

-6.97%

-1.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.27%

2.85%

-0.58%

Volatility

BRIIX vs. PFFR - Volatility Comparison

Baron Real Estate Income Fund (BRIIX) has a higher volatility of 5.23% compared to InfraCap REIT Preferred ETF (PFFR) at 2.34%. This indicates that BRIIX's price experiences larger fluctuations and is considered to be riskier than PFFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BRIIXPFFRDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.23%

2.34%

+2.89%

Volatility (6M)

Calculated over the trailing 6-month period

10.14%

6.05%

+4.09%

Volatility (1Y)

Calculated over the trailing 1-year period

13.74%

7.81%

+5.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.43%

10.48%

+7.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.61%

20.48%

+0.13%

BRIIX vs. PFFR - Expense Ratio Comparison

BRIIX has a 1.08% expense ratio, which is higher than PFFR's 0.45% expense ratio.

Dividends

BRIIX vs. PFFR - Dividend Comparison

BRIIX's dividend yield for the trailing twelve months is around 1.46%, less than PFFR's 8.26% yield.

PositionTTM202520242023202220212020201920182017
BRIIX
Baron Real Estate Income Fund		1.46%1.70%1.39%1.95%2.00%1.21%0.77%1.12%3.03%0.00%
PFFR
InfraCap REIT Preferred ETF		8.26%7.99%7.78%7.72%8.60%6.08%6.11%5.77%6.48%6.59%

Frequently Asked Questions

BRIIX and PFFR have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BRIIX has higher volatility (5.23%) compared to PFFR (2.34%). In terms of maximum drawdown, BRIIX dropped -37.06% vs PFFR's -53.02%.

BRIIX currently has the higher Sharpe Ratio (1.23 vs 0.89), 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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