CSJZX vs. CRARX

Last updated Jun 4, 2026

CSJZX (Cohen & Steers Realty Shares Fund Class Z) and CRARX (MainStay CBRE Real Estate Fund) are both REIT funds. Over the past 5 years, CSJZX returned 3.96%/yr vs 2.60%/yr for CRARX. With a 0.97 correlation, they move nearly in lockstep. CSJZX charges 0.80%/yr vs 0.83%/yr for CRARX.

Performance

CSJZX vs. CRARX - Performance Comparison

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

Returns By Period

In the year-to-date period, CSJZX achieves a 11.58% return, which is significantly lower than CRARX's 12.42% return.

CSJZX

• 1D: 0.39%
• 1M: -0.94%
• YTD: 11.58%
• 6M: 10.44%
• 1Y: 10.97%
• 3Y*: 10.55%
• 5Y*: 3.96%
• 10Y*: —

CRARX

• 1D: 0.18%
• 1M: -1.05%
• YTD: 12.42%
• 6M: 11.20%
• 1Y: 11.62%
• 3Y*: 8.12%
• 5Y*: 2.60%
• 10Y*: 5.15%

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

CSJZX vs. CRARX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CSJZX Cohen & Steers Realty Shares Fund Class Z	11.58%	2.92%	6.62%	12.79%	-24.89%	42.37%	-5.11%	7.71%
CRARX MainStay CBRE Real Estate Fund	12.42%	-0.28%	0.71%	13.50%	-26.95%	52.55%	-6.50%	6.46%

Correlation

The correlation between CSJZX and CRARX 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	0.98
Correlation (All Time) Calculated using the full available price history since Jul 3, 2019	0.97

The correlation between CSJZX and CRARX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

CSJZX vs. CRARX — Risk / Return Rank

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

CSJZX

CSJZX Risk / Return Rank: 11
CSJZX Sharpe Ratio Rank: 10
CSJZX Sortino Ratio Rank: 9
CSJZX Omega Ratio Rank: 10
CSJZX Calmar Ratio Rank: 15
CSJZX Martin Ratio Rank: 12

CRARX

CRARX Risk / Return Rank: 13
CRARX Sharpe Ratio Rank: 11
CRARX Sortino Ratio Rank: 10
CRARX Omega Ratio Rank: 10
CRARX Calmar Ratio Rank: 16
CRARX Martin Ratio Rank: 16

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.

CSJZX vs. CRARX - Risk-Adjusted Trends Comparison

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

	CSJZX	CRARX	Difference
Sharpe ratio Return per unit of total volatility	0.79	0.87	-0.08
Sortino ratio Return per unit of downside risk	1.13	1.24	-0.10
Omega ratio Gain probability vs. loss probability	1.14	1.15	-0.01
Calmar ratio Return relative to maximum drawdown	1.37	1.40	-0.03
Martin ratio Return relative to average drawdown	3.56	4.37	-0.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CSJZX vs. CRARX - Sharpe Ratio Comparison

The current CSJZX Sharpe Ratio is 0.79, which is comparable to the CRARX Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of CSJZX and CRARX, 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

	CSJZX	CRARX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	0.87	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.14	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.24	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.33	-0.06

Drawdowns

CSJZX vs. CRARX - Drawdown Comparison

The maximum CSJZX drawdown since its inception was -41.66%, smaller than the maximum CRARX drawdown of -72.66%. Use the drawdown chart below to compare losses from any high point for CSJZX and CRARX.

Drawdown Indicators

	CSJZX	CRARX	Difference
Max Drawdown Largest peak-to-trough decline	-41.66%	-72.66%	+31.00%
Max Drawdown (1Y) Largest decline over 1 year	-7.77%	-7.99%	+0.22%
Max Drawdown (3Y) Largest decline over 3 years	-17.00%	-18.78%	+1.78%
Max Drawdown (5Y) Largest decline over 5 years	-31.61%	-35.43%	+3.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.19%	—
Current Drawdown Current decline from peak	-2.88%	-6.39%	+3.51%
Average Drawdown Average peak-to-trough decline	-11.45%	-12.57%	+1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	2.55%	+0.43%

Volatility

CSJZX vs. CRARX - Volatility Comparison

Cohen & Steers Realty Shares Fund Class Z (CSJZX) and MainStay CBRE Real Estate Fund (CRARX) have volatilities of 3.69% and 3.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSJZX	CRARX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.69%	3.63%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	10.15%	9.32%	+0.83%
Volatility (1Y) Calculated over the trailing 1-year period	13.49%	12.91%	+0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.65%	18.98%	-0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.97%	21.28%	+1.69%

CSJZX vs. CRARX - Expense Ratio Comparison

CSJZX has a 0.80% expense ratio, which is lower than CRARX's 0.83% expense ratio.

Dividends

CSJZX vs. CRARX - Dividend Comparison

CSJZX's dividend yield for the trailing twelve months is around 2.79%, more than CRARX's 2.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRARX MainStay CBRE Real Estate Fund	2.23%	2.57%	1.80%	3.36%	34.64%	4.37%	1.77%	15.57%	30.33%	21.82%	8.85%	7.27%
CSJZX Cohen & Steers Realty Shares Fund Class Z	2.79%	3.05%	2.82%	3.54%	7.57%	3.72%	2.58%	8.65%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CSJZX and CRARX in my portfolio?

With a correlation of 0.97, CSJZX and CRARX 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, CSJZX or CRARX?

CSJZX has higher volatility (3.69%) compared to CRARX (3.63%). In terms of maximum drawdown, CSJZX dropped -41.66% vs CRARX's -72.66%.

Which has better risk-adjusted returns?

CRARX currently has the higher Sharpe Ratio (0.87 vs 0.79), 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.