CSZIX vs. GRIFX
CSZIX (Cohen & Steers Real Estate Securities Fund Class Z) and GRIFX (Apollo Diversified Real Estate Fund Class I) are both REIT funds. Both are actively managed. Over the past 10 years, CSZIX returned 7.37%/yr vs 4.49%/yr for GRIFX. Their correlation of 0.88 suggests significant overlap in exposure. CSZIX charges 0.75%/yr vs 2.23%/yr for GRIFX.
Performance
CSZIX vs. GRIFX - Performance Comparison
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Returns By Period
In the year-to-date period, CSZIX achieves a 13.23% return, which is significantly higher than GRIFX's 3.74% return. Over the past 10 years, CSZIX has outperformed GRIFX with an annualized return of 7.37%, while GRIFX has yielded a comparatively lower 4.49% annualized return.
CSZIX
- 1D
- 1.30%
- 1M
- -0.51%
- YTD
- 13.23%
- 6M
- 13.95%
- 1Y
- 12.01%
- 3Y*
- 12.51%
- 5Y*
- 4.19%
- 10Y*
- 7.37%
GRIFX
- 1D
- 0.08%
- 1M
- -0.07%
- YTD
- 3.74%
- 6M
- 3.83%
- 1Y
- 4.19%
- 3Y*
- 3.00%
- 5Y*
- 3.47%
- 10Y*
- 4.49%
CSZIX vs. GRIFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSZIX Cohen & Steers Real Estate Securities Fund Class Z | 13.23% | 4.41% | 6.81% | 13.26% | -26.21% | 41.81% | -1.64% | 31.95% | -4.17% | 8.18% |
GRIFX Apollo Diversified Real Estate Fund Class I | 3.74% | 1.14% | 3.78% | -3.05% | -1.17% | 22.08% | -2.69% | 8.38% | 4.97% | 6.73% |
Correlation
The correlation between CSZIX and GRIFX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2015 | 0.88 |
The correlation between CSZIX and GRIFX has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.
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Return for Risk
CSZIX vs. GRIFX — Risk / Return Rank
CSZIX
GRIFX
CSZIX vs. GRIFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cohen & Steers Real Estate Securities Fund Class Z (CSZIX) and Apollo Diversified Real Estate Fund Class I (GRIFX). 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.
| CSZIX | GRIFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.22 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 2.70 | -0.99 |
| Martin ratioReturn relative to average drawdown | 5.16 | 6.64 | -1.48 |
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Drawdowns
CSZIX vs. GRIFX - Drawdown Comparison
The maximum CSZIX drawdown since its inception was -42.71%, which is greater than GRIFX's maximum drawdown of -14.29%. Use the drawdown chart below to compare losses from any high point for CSZIX and GRIFX.
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Drawdown Indicators
| CSZIX | GRIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.71% | -14.29% | -28.42% |
Max Drawdown (1Y)Largest decline over 1 year | -7.96% | -1.70% | -6.26% |
Max Drawdown (3Y)Largest decline over 3 years | -17.17% | -7.28% | -9.89% |
Max Drawdown (5Y)Largest decline over 5 years | -33.05% | -14.29% | -18.76% |
Max Drawdown (10Y)Largest decline over 10 years | -42.71% | -14.29% | -28.42% |
Current DrawdownCurrent decline from peak | -1.66% | -2.12% | +0.46% |
Average DrawdownAverage peak-to-trough decline | -8.73% | -3.36% | -5.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 0.69% | +1.94% |
Volatility
CSZIX vs. GRIFX - Volatility Comparison
Cohen & Steers Real Estate Securities Fund Class Z (CSZIX) has a higher volatility of 5.09% compared to Apollo Diversified Real Estate Fund Class I (GRIFX) at 1.17%. This indicates that CSZIX's price experiences larger fluctuations and is considered to be riskier than GRIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSZIX | GRIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 1.17% | +3.92% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 2.68% | +7.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.85% | 3.71% | +10.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.72% | 5.51% | +13.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.85% | 4.62% | +16.23% |
CSZIX vs. GRIFX - Expense Ratio Comparison
CSZIX has a 0.75% expense ratio, which is lower than GRIFX's 2.23% expense ratio.
Dividends
CSZIX vs. GRIFX - Dividend Comparison
CSZIX's dividend yield for the trailing twelve months is around 3.43%, less than GRIFX's 7.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSZIX Cohen & Steers Real Estate Securities Fund Class Z | 3.43% | 3.81% | 2.85% | 3.00% | 7.77% | 4.38% | 5.47% | 7.70% | 3.68% | 2.60% | 5.90% | 22.32% |
GRIFX Apollo Diversified Real Estate Fund Class I | 7.81% | 5.37% | 5.27% | 5.46% | 4.14% | 3.67% | 5.26% | 5.27% | 5.29% | 5.22% | 5.27% | 2.62% |
Frequently Asked Questions
With a correlation of 0.90, CSZIX and GRIFX 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.
CSZIX has higher volatility (5.09%) compared to GRIFX (1.17%). In terms of maximum drawdown, CSZIX dropped -42.71% vs GRIFX's -14.29%.
GRIFX currently has the higher Sharpe Ratio (1.24 vs 0.99), 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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