CSRIX vs. TIREX

Last updated Jun 23, 2026

CSRIX (Cohen & Steers Institutional Realty Shares) and TIREX (TIAA-CREF Real Estate Securities Fund Institutional Class) are both REIT funds. Over the past 10 years, CSRIX returned 7.25%/yr vs 6.47%/yr for TIREX. With a 0.98 correlation, they move nearly in lockstep. CSRIX charges 0.76%/yr vs 0.47%/yr for TIREX.

Performance

CSRIX vs. TIREX - Performance Comparison

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

Returns By Period

In the year-to-date period, CSRIX achieves a 12.79% return, which is significantly higher than TIREX's 10.32% return. Over the past 10 years, CSRIX has outperformed TIREX with an annualized return of 7.25%, while TIREX has yielded a comparatively lower 6.47% annualized return.

CSRIX

• 1D: -0.20%
• 1M: -1.38%
• YTD: 12.79%
• 6M: 13.47%
• 1Y: 11.45%
• 3Y*: 9.87%
• 5Y*: 4.29%
• 10Y*: 7.25%

TIREX

• 1D: -0.05%
• 1M: -1.81%
• YTD: 10.32%
• 6M: 10.45%
• 1Y: 11.68%
• 3Y*: 8.86%
• 5Y*: 1.98%
• 10Y*: 6.47%

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

CSRIX vs. TIREX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSRIX Cohen & Steers Institutional Realty Shares	12.79%	3.10%	6.26%	12.75%	-25.15%	42.40%	-2.55%	36.11%	-4.68%	6.71%
TIREX TIAA-CREF Real Estate Securities Fund Institutional Class	10.32%	2.10%	5.30%	12.16%	-28.74%	39.39%	1.29%	31.09%	-4.06%	11.73%

Correlation

The correlation between CSRIX and TIREX 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	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.98

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

Return for Risk

CSRIX vs. TIREX — Risk / Return Rank

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

CSRIX

CSRIX Risk / Return Rank: 13
CSRIX Sharpe Ratio Rank: 11
CSRIX Sortino Ratio Rank: 10
CSRIX Omega Ratio Rank: 10
CSRIX Calmar Ratio Rank: 19
CSRIX Martin Ratio Rank: 15

TIREX

TIREX Risk / Return Rank: 14
TIREX Sharpe Ratio Rank: 11
TIREX Sortino Ratio Rank: 11
TIREX Omega Ratio Rank: 11
TIREX Calmar Ratio Rank: 17
TIREX Martin Ratio Rank: 19

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.

CSRIX vs. TIREX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cohen & Steers Institutional Realty Shares (CSRIX) and TIAA-CREF Real Estate Securities Fund Institutional Class (TIREX). 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.

	CSRIX	TIREX	Difference
Sharpe ratio: Return per unit of total volatility	0.81	0.86	-0.05
Sortino ratio: Return per unit of downside risk	1.17	1.24	-0.06
Omega ratio: Gain probability vs. loss probability	1.15	1.16	-0.01
Calmar ratio: Return relative to maximum drawdown	1.48	1.36	+0.11
Martin ratio: Return relative to average drawdown	3.87	4.62	-0.75

CSRIX vs. TIREX - Sharpe Ratio Comparison

The current CSRIX Sharpe Ratio is 0.81, which is comparable to the TIREX Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of CSRIX and TIREX, 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

CSRIX vs. TIREX - Drawdown Comparison

The maximum CSRIX drawdown since its inception was -41.45%, smaller than the maximum TIREX drawdown of -74.18%. Use the drawdown chart below to compare losses from any high point for CSRIX and TIREX.

Drawdown Indicators

	CSRIX	TIREX	Difference
Max Drawdown Largest peak-to-trough decline	-41.45%	-74.18%	+32.73%
Max Drawdown (1Y) Largest decline over 1 year	-7.74%	-8.55%	+0.81%
Max Drawdown (3Y) Largest decline over 3 years	-16.89%	-17.95%	+1.06%
Max Drawdown (5Y) Largest decline over 5 years	-31.79%	-35.67%	+3.88%
Max Drawdown (10Y) Largest decline over 10 years	-41.45%	-39.26%	-2.19%
Current Drawdown Current decline from peak	-3.11%	-5.20%	+2.09%
Average Drawdown Average peak-to-trough decline	-8.76%	-13.46%	+4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	2.52%	+0.42%

Volatility

CSRIX vs. TIREX - Volatility Comparison

Cohen & Steers Institutional Realty Shares (CSRIX) and TIAA-CREF Real Estate Securities Fund Institutional Class (TIREX) have volatilities of 5.10% and 5.02%, 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

	CSRIX	TIREX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.10%	5.02%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	10.82%	10.27%	+0.55%
Volatility (1Y) Calculated over the trailing 1-year period	14.05%	13.52%	+0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.65%	18.88%	-0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.52%	20.17%	+0.35%

CSRIX vs. TIREX - Expense Ratio Comparison

CSRIX has a 0.76% expense ratio, which is higher than TIREX's 0.47% expense ratio.

Dividends

CSRIX vs. TIREX - Dividend Comparison

CSRIX's dividend yield for the trailing twelve months is around 2.84%, more than TIREX's 2.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSRIX Cohen & Steers Institutional Realty Shares	2.84%	3.14%	2.97%	3.04%	4.28%	3.87%	4.91%	12.97%	5.45%	6.28%	12.61%	13.63%
TIREX TIAA-CREF Real Estate Securities Fund Institutional Class	2.49%	3.56%	3.08%	2.71%	5.13%	3.07%	1.80%	6.18%	3.54%	7.20%	4.16%	5.65%

Frequently Asked Questions

Can I hold both CSRIX and TIREX in my portfolio?

With a correlation of 0.97, CSRIX and TIREX 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, CSRIX or TIREX?

CSRIX has higher volatility (5.10%) compared to TIREX (5.02%). In terms of maximum drawdown, CSRIX dropped -41.45% vs TIREX's -74.18%.

Which has better risk-adjusted returns?

TIREX currently has the higher Sharpe Ratio (0.86 vs 0.81), 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.