DFREX vs. REET
DFREX (DFA Real Estate Securities Portfolio Class I) and REET (iShares Global REIT ETF) are both REIT funds. Over the past 10 years, DFREX returned 5.68%/yr vs 4.29%/yr for REET. Their correlation of 0.93 suggests significant overlap in exposure. DFREX charges 0.18%/yr vs 0.14%/yr for REET.
Performance
DFREX vs. REET - Performance Comparison
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Returns By Period
In the year-to-date period, DFREX achieves a 12.74% return, which is significantly higher than REET's 10.82% return. Over the past 10 years, DFREX has outperformed REET with an annualized return of 5.68%, while REET has yielded a comparatively lower 4.29% annualized return.
DFREX
- 1D
- -0.07%
- 1M
- -1.26%
- YTD
- 12.74%
- 6M
- 13.17%
- 1Y
- 12.26%
- 3Y*
- 9.38%
- 5Y*
- 3.40%
- 10Y*
- 5.68%
REET
- 1D
- 0.96%
- 1M
- 0.34%
- YTD
- 10.82%
- 6M
- 11.49%
- 1Y
- 14.51%
- 3Y*
- 11.34%
- 5Y*
- 2.71%
- 10Y*
- 4.29%
DFREX vs. REET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFREX DFA Real Estate Securities Portfolio Class I | 12.74% | 1.52% | 5.52% | 11.20% | -24.93% | 41.88% | -5.03% | 28.12% | -3.01% | 4.25% |
REET iShares Global REIT ETF | 10.82% | 7.97% | 2.65% | 10.28% | -24.10% | 32.43% | -10.48% | 24.42% | -5.27% | 7.48% |
Correlation
The correlation between DFREX and REET is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2014 | 0.93 |
The correlation between DFREX and REET has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
DFREX vs. REET — Risk / Return Rank
DFREX
REET
DFREX vs. REET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Real Estate Securities Portfolio Class I (DFREX) and iShares Global REIT ETF (REET). 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.
| DFREX | REET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.21 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 1.61 | -0.15 |
| Martin ratioReturn relative to average drawdown | 4.51 | 5.76 | -1.25 |
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Drawdowns
DFREX vs. REET - Drawdown Comparison
The maximum DFREX drawdown since its inception was -74.36%, which is greater than REET's maximum drawdown of -44.59%. Use the drawdown chart below to compare losses from any high point for DFREX and REET.
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Drawdown Indicators
| DFREX | REET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.36% | -44.59% | -29.77% |
Max Drawdown (1Y)Largest decline over 1 year | -8.40% | -9.04% | +0.64% |
Max Drawdown (3Y)Largest decline over 3 years | -17.64% | -18.02% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -33.11% | -32.11% | -1.00% |
Max Drawdown (10Y)Largest decline over 10 years | -41.49% | -44.59% | +3.10% |
Current DrawdownCurrent decline from peak | -3.19% | -1.42% | -1.77% |
Average DrawdownAverage peak-to-trough decline | -11.32% | -9.75% | -1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 2.52% | +0.19% |
Volatility
DFREX vs. REET - Volatility Comparison
DFA Real Estate Securities Portfolio Class I (DFREX) has a higher volatility of 5.02% compared to iShares Global REIT ETF (REET) at 4.30%. This indicates that DFREX's price experiences larger fluctuations and is considered to be riskier than REET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFREX | REET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.02% | 4.30% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 10.22% | 9.37% | +0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.66% | 12.52% | +1.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.74% | 16.97% | +1.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.33% | 18.87% | +1.46% |
DFREX vs. REET - Expense Ratio Comparison
DFREX has a 0.18% expense ratio, which is higher than REET's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
DFREX vs. REET - Dividend Comparison
DFREX's dividend yield for the trailing twelve months is around 2.57%, less than REET's 3.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFREX DFA Real Estate Securities Portfolio Class I | 2.57% | 2.84% | 2.97% | 3.59% | 6.24% | 2.56% | 3.36% | 2.23% | 4.88% | 1.89% | 2.83% | 2.86% |
REET iShares Global REIT ETF | 3.40% | 3.67% | 3.64% | 3.27% | 2.43% | 3.18% | 2.65% | 5.25% | 5.73% | 3.84% | 5.37% | 3.56% |
Frequently Asked Questions
With a correlation of 0.93, DFREX and REET 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.
DFREX has higher volatility (5.02%) compared to REET (4.30%). In terms of maximum drawdown, DFREX dropped -74.36% vs REET's -44.59%.
REET currently has the higher Sharpe Ratio (1.17 vs 0.90), 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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