DFREX vs. CRARX
Compare and contrast key facts about DFA Real Estate Securities Portfolio Class I (DFREX) and MainStay CBRE Real Estate Fund (CRARX).
DFREX is managed by Dimensional. It was launched on Jan 5, 1993. CRARX is managed by New York Life. It was launched on Dec 31, 1996.
Performance
DFREX vs. CRARX - Performance Comparison
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DFREX vs. CRARX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFREX DFA Real Estate Securities Portfolio Class I | 3.33% | 1.52% | 5.52% | 11.20% | -24.93% | 41.88% | -5.03% | 28.12% | -3.01% | 4.25% |
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% |
Returns By Period
In the year-to-date period, DFREX achieves a 3.33% return, which is significantly lower than CRARX's 4.03% return. Over the past 10 years, DFREX has outperformed CRARX with an annualized return of 4.99%, while CRARX has yielded a comparatively lower 4.31% annualized return.
DFREX
- 1D
- 1.52%
- 1M
- -6.66%
- YTD
- 3.33%
- 6M
- 0.85%
- 1Y
- 2.39%
- 3Y*
- 6.54%
- 5Y*
- 3.50%
- 10Y*
- 4.99%
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%
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DFREX vs. CRARX - Expense Ratio Comparison
DFREX has a 0.18% expense ratio, which is lower than CRARX's 0.83% expense ratio.
Return for Risk
DFREX vs. CRARX — Risk / Return Rank
DFREX
CRARX
DFREX vs. CRARX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Real Estate Securities Portfolio Class I (DFREX) 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.
| DFREX | CRARX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.16 | 0.13 | +0.03 |
Sortino ratioReturn per unit of downside risk | 0.32 | 0.28 | +0.04 |
Omega ratioGain probability vs. loss probability | 1.04 | 1.04 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.29 | 0.26 | +0.03 |
Martin ratioReturn relative to average drawdown | 1.12 | 1.02 | +0.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DFREX | CRARX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.16 | 0.13 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.17 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | 0.20 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.32 | +0.04 |
Correlation
The correlation between DFREX and CRARX 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
DFREX vs. CRARX - Dividend Comparison
DFREX's dividend yield for the trailing twelve months is around 2.80%, more than CRARX's 1.66% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFREX DFA Real Estate Securities Portfolio Class I | 2.80% | 2.84% | 2.97% | 3.59% | 6.24% | 2.56% | 3.36% | 2.23% | 4.88% | 1.89% | 2.83% | 2.86% |
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% |
Drawdowns
DFREX vs. CRARX - Drawdown Comparison
The maximum DFREX drawdown since its inception was -74.36%, roughly equal to the maximum CRARX drawdown of -72.66%. Use the drawdown chart below to compare losses from any high point for DFREX and CRARX.
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Drawdown Indicators
| DFREX | CRARX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.36% | -72.66% | -1.70% |
Max Drawdown (1Y)Largest decline over 1 year | -12.22% | -12.25% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -33.11% | -35.43% | +2.32% |
Max Drawdown (10Y)Largest decline over 10 years | -41.49% | -45.19% | +3.70% |
Current DrawdownCurrent decline from peak | -7.60% | -13.38% | +5.78% |
Average DrawdownAverage peak-to-trough decline | -11.39% | -12.61% | +1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.14% | 3.07% | +0.07% |
Volatility
DFREX vs. CRARX - Volatility Comparison
DFA Real Estate Securities Portfolio Class I (DFREX) has a higher volatility of 4.47% compared to MainStay CBRE Real Estate Fund (CRARX) at 4.16%. This indicates that DFREX's price experiences larger fluctuations and is considered to be riskier than CRARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFREX | CRARX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.47% | 4.16% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 9.25% | 9.01% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.14% | 15.89% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.69% | 18.98% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.30% | 21.29% | -0.99% |