CRARX vs. CSRIX

Last updated Apr 2, 2026

Compare and contrast key facts about MainStay CBRE Real Estate Fund (CRARX) and Cohen & Steers Institutional Realty Shares (CSRIX).

CRARX is managed by New York Life. It was launched on Dec 31, 1996. CSRIX is managed by Cohen & Steers. It was launched on Feb 14, 2000.

Performance

CRARX vs. CSRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MainStay CBRE Real Estate Fund (CRARX) and Cohen & Steers Institutional Realty Shares (CSRIX). The values are adjusted to include any dividend payments, if applicable.

CRARX vs. CSRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CRARX MainStay CBRE Real Estate Fund	4.03%	-0.28%	0.71%	13.50%	-26.95%	52.55%	-6.50%	28.29%	-8.00%	5.23%
CSRIX Cohen & Steers Institutional Realty Shares	3.22%	3.10%	6.26%	12.75%	-25.15%	42.40%	-2.55%	36.11%	-4.68%	6.71%

Returns By Period

In the year-to-date period, CRARX achieves a 4.03% return, which is significantly higher than CSRIX's 3.22% return. Over the past 10 years, CRARX has underperformed CSRIX with an annualized return of 4.31%, while CSRIX has yielded a comparatively higher 6.46% annualized return.

CRARX

• 1D: 0.67%
• 1M: -7.02%
• YTD: 4.03%
• 6M: 1.92%
• 1Y: 2.02%
• 3Y*: 4.89%
• 5Y*: 3.16%
• 10Y*: 4.31%

CSRIX

• 1D: 0.28%
• 1M: -5.79%
• YTD: 3.22%
• 6M: 0.96%
• 1Y: 2.59%
• 3Y*: 7.56%
• 5Y*: 4.21%
• 10Y*: 6.46%

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

CRARX vs. CSRIX - Expense Ratio Comparison

CRARX has a 0.83% expense ratio, which is higher than CSRIX's 0.76% expense ratio.

CRARX

MainStay CBRE Real Estate Fund

CSRIX

Cohen & Steers Institutional Realty Shares

Return for Risk

CRARX vs. CSRIX — Risk / Return Rank

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

CRARX

CRARX Risk / Return Rank: 7
CRARX Sharpe Ratio Rank: 6
CRARX Sortino Ratio Rank: 6
CRARX Omega Ratio Rank: 6
CRARX Calmar Ratio Rank: 8
CRARX Martin Ratio Rank: 10

CSRIX

CSRIX Risk / Return Rank: 7
CSRIX Sharpe Ratio Rank: 6
CSRIX Sortino Ratio Rank: 6
CSRIX Omega Ratio Rank: 6
CSRIX Calmar Ratio Rank: 8
CSRIX Martin Ratio Rank: 9

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.

CRARX vs. CSRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay CBRE Real Estate Fund (CRARX) and Cohen & Steers Institutional Realty Shares (CSRIX). 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.

	CRARX	CSRIX	Difference
Sharpe ratio Return per unit of total volatility	0.13	0.19	-0.06
Sortino ratio Return per unit of downside risk	0.28	0.36	-0.08
Omega ratio Gain probability vs. loss probability	1.04	1.05	-0.01
Calmar ratio Return relative to maximum drawdown	0.26	0.35	-0.09
Martin ratio Return relative to average drawdown	1.02	1.21	-0.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CRARX vs. CSRIX - Sharpe Ratio Comparison

The current CRARX Sharpe Ratio is 0.13, which is lower than the CSRIX Sharpe Ratio of 0.19. The chart below compares the historical Sharpe Ratios of CRARX and CSRIX, 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

	CRARX	CSRIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.13	0.19	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	0.23	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.20	0.32	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.32	0.00

Correlation

The correlation between CRARX and CSRIX is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CRARX vs. CSRIX - Dividend Comparison

CRARX's dividend yield for the trailing twelve months is around 1.66%, less than CSRIX's 2.37% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRARX MainStay CBRE Real Estate Fund	1.66%	2.57%	1.80%	3.36%	34.64%	4.37%	1.77%	15.57%	30.33%	21.82%	8.85%	7.27%
CSRIX Cohen & Steers Institutional Realty Shares	2.37%	3.14%	2.97%	3.04%	4.28%	3.87%	4.91%	12.97%	5.45%	6.28%	12.61%	13.63%

Drawdowns

CRARX vs. CSRIX - Drawdown Comparison

The maximum CRARX drawdown since its inception was -72.66%, which is greater than CSRIX's maximum drawdown of -41.45%. Use the drawdown chart below to compare losses from any high point for CRARX and CSRIX.

Drawdown Indicators

	CRARX	CSRIX	Difference
Max Drawdown Largest peak-to-trough decline	-72.66%	-41.45%	-31.21%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	-9.33%	-2.92%
Max Drawdown (5Y) Largest decline over 5 years	-35.43%	-31.79%	-3.64%
Max Drawdown (10Y) Largest decline over 10 years	-45.19%	-41.45%	-3.74%
Current Drawdown Current decline from peak	-13.38%	-6.26%	-7.12%
Average Drawdown Average peak-to-trough decline	-12.61%	-8.91%	-3.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	3.27%	-0.20%

Volatility

CRARX vs. CSRIX - Volatility Comparison

The current volatility for MainStay CBRE Real Estate Fund (CRARX) is 4.16%, while Cohen & Steers Institutional Realty Shares (CSRIX) has a volatility of 4.47%. This indicates that CRARX experiences smaller price fluctuations and is considered to be less risky than CSRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRARX	CSRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	4.47%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	9.01%	9.74%	-0.73%
Volatility (1Y) Calculated over the trailing 1-year period	15.89%	16.02%	-0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.98%	18.54%	+0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.29%	20.48%	+0.81%