CRARX vs. PRRSX

Last updated Jun 24, 2026

CRARX (MainStay CBRE Real Estate Fund) and PRRSX (PIMCO Variable Insurance Trust Real Estate Real Return Strategy Fund) are both REIT funds. Over the past 10 years, CRARX returned 5.27%/yr vs 6.72%/yr for PRRSX. Their correlation of 0.94 suggests significant overlap in exposure. CRARX charges 0.83%/yr vs 0.79%/yr for PRRSX.

Performance

CRARX vs. PRRSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MainStay CBRE Real Estate Fund (CRARX) 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 investments are quite close, with CRARX having a 15.19% return and PRRSX slightly higher at 15.21%. Over the past 10 years, CRARX has underperformed PRRSX with an annualized return of 5.27%, while PRRSX has yielded a comparatively higher 6.72% annualized return.

CRARX

• 1D: 1.04%
• 1M: -0.26%
• YTD: 15.19%
• 6M: 15.64%
• 1Y: 12.54%
• 3Y*: 10.07%
• 5Y*: 2.94%
• 10Y*: 5.27%

PRRSX

• 1D: 1.18%
• 1M: 0.19%
• YTD: 15.21%
• 6M: 15.21%
• 1Y: 17.66%
• 3Y*: 13.21%
• 5Y*: 4.11%
• 10Y*: 6.72%

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

CRARX vs. PRRSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CRARX MainStay CBRE Real Estate Fund	15.19%	-0.28%	0.71%	13.50%	-26.95%	52.55%	-6.50%	28.29%	-8.00%	5.23%
PRRSX PIMCO Variable Insurance Trust Real Estate Real Return Strategy Fund	15.21%	5.21%	5.11%	12.30%	-29.37%	53.74%	-3.80%	29.61%	-6.42%	4.32%

Correlation

The correlation between CRARX 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	0.97
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 Oct 31, 2003	0.94

The correlation between CRARX and PRRSX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

CRARX vs. PRRSX — Risk / Return Rank

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

CRARX

CRARX Risk / Return Rank: 19
CRARX Sharpe Ratio Rank: 16
CRARX Sortino Ratio Rank: 15
CRARX Omega Ratio Rank: 15
CRARX Calmar Ratio Rank: 26
CRARX Martin Ratio Rank: 24

PRRSX

PRRSX Risk / Return Rank: 28
PRRSX Sharpe Ratio Rank: 24
PRRSX Sortino Ratio Rank: 21
PRRSX Omega Ratio Rank: 23
PRRSX Calmar Ratio Rank: 36
PRRSX Martin Ratio Rank: 35

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. PRRSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay CBRE Real Estate Fund (CRARX) 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.

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.

	CRARX	PRRSX	Difference
Sharpe ratio: Return per unit of total volatility	1.05	1.30	-0.25
Sortino ratio: Return per unit of downside risk	1.47	1.78	-0.31
Omega ratio: Gain probability vs. loss probability	1.18	1.23	-0.05
Calmar ratio: Return relative to maximum drawdown	1.77	2.15	-0.38
Martin ratio: Return relative to average drawdown	5.49	7.33	-1.84

CRARX vs. PRRSX - Sharpe Ratio Comparison

The current CRARX Sharpe Ratio is 1.05, which is comparable to the PRRSX Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of CRARX 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.

Drawdowns

CRARX vs. PRRSX - Drawdown Comparison

The maximum CRARX drawdown since its inception was -72.66%, smaller than the maximum PRRSX drawdown of -77.82%. Use the drawdown chart below to compare losses from any high point for CRARX and PRRSX.

Drawdown Indicators

	CRARX	PRRSX	Difference
Max Drawdown Largest peak-to-trough decline	-72.66%	-77.82%	+5.16%
Max Drawdown (1Y) Largest decline over 1 year	-7.99%	-9.05%	+1.06%
Max Drawdown (3Y) Largest decline over 3 years	-18.78%	-17.77%	-1.01%
Max Drawdown (5Y) Largest decline over 5 years	-35.43%	-37.14%	+1.71%
Max Drawdown (10Y) Largest decline over 10 years	-45.19%	-45.75%	+0.56%
Current Drawdown Current decline from peak	-4.08%	-2.10%	-1.98%
Average Drawdown Average peak-to-trough decline	-12.55%	-13.06%	+0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	2.64%	-0.07%

Volatility

CRARX vs. PRRSX - Volatility Comparison

The current volatility for MainStay CBRE Real Estate Fund (CRARX) is 4.91%, while PIMCO Variable Insurance Trust Real Estate Real Return Strategy Fund (PRRSX) has a volatility of 5.54%. This indicates that CRARX 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

	CRARX	PRRSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.91%	5.54%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	10.04%	10.96%	-0.92%
Volatility (1Y) Calculated over the trailing 1-year period	13.54%	14.96%	-1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.01%	20.25%	-1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.32%	21.91%	-0.59%

CRARX vs. PRRSX - Expense Ratio Comparison

CRARX has a 0.83% expense ratio, which is higher than PRRSX's 0.79% expense ratio.

Dividends

CRARX vs. PRRSX - Dividend Comparison

CRARX's dividend yield for the trailing twelve months is around 2.18%, more than PRRSX's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRARX MainStay CBRE Real Estate Fund	2.18%	2.57%	1.80%	3.36%	34.64%	4.37%	1.77%	15.57%	30.33%	21.82%	8.85%	7.27%
PRRSX PIMCO Variable Insurance Trust Real Estate Real Return Strategy Fund	1.49%	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 CRARX and PRRSX in my portfolio?

With a correlation of 0.97, CRARX 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, CRARX or PRRSX?

PRRSX has higher volatility (5.54%) compared to CRARX (4.91%). In terms of maximum drawdown, CRARX dropped -72.66% vs PRRSX's -77.82%.

Which has better risk-adjusted returns?

PRRSX currently has the higher Sharpe Ratio (1.30 vs 1.05), 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.