FARCX vs. SOAAX

Last updated Jun 24, 2026

FARCX (Nuveen Real Estate Securities Fund) and SOAAX (Spirit of America Real Estate Income & Growth Fund) are both REIT funds. Over the past 10 years, FARCX returned 5.73%/yr vs 5.31%/yr for SOAAX. With a 0.97 correlation, they move nearly in lockstep. FARCX charges 0.97%/yr vs 1.52%/yr for SOAAX.

Performance

FARCX vs. SOAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Real Estate Securities Fund (FARCX) and Spirit of America Real Estate Income & Growth Fund (SOAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FARCX having a 14.50% return and SOAAX slightly higher at 14.89%. Over the past 10 years, FARCX has outperformed SOAAX with an annualized return of 5.73%, while SOAAX has yielded a comparatively lower 5.31% annualized return.

FARCX

• 1D: 1.17%
• 1M: -0.24%
• YTD: 14.50%
• 6M: 15.11%
• 1Y: 15.30%
• 3Y*: 11.71%
• 5Y*: 4.18%
• 10Y*: 5.73%

SOAAX

• 1D: 1.21%
• 1M: -0.11%
• YTD: 14.89%
• 6M: 15.33%
• 1Y: 13.22%
• 3Y*: 10.72%
• 5Y*: 3.04%
• 10Y*: 5.31%

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

FARCX vs. SOAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FARCX Nuveen Real Estate Securities Fund	14.50%	2.56%	6.04%	11.55%	-24.57%	41.57%	-6.14%	25.63%	-5.57%	5.67%
SOAAX Spirit of America Real Estate Income & Growth Fund	14.89%	-0.90%	7.57%	9.60%	-28.40%	42.01%	-5.06%	28.09%	-6.82%	6.80%

Correlation

The correlation between FARCX and SOAAX is 0.98 - 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	0.98
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 4, 1999	0.97

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

Return for Risk

FARCX vs. SOAAX — Risk / Return Rank

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

FARCX

FARCX Risk / Return Rank: 27
FARCX Sharpe Ratio Rank: 22
FARCX Sortino Ratio Rank: 20
FARCX Omega Ratio Rank: 21
FARCX Calmar Ratio Rank: 37
FARCX Martin Ratio Rank: 33

SOAAX

SOAAX Risk / Return Rank: 21
SOAAX Sharpe Ratio Rank: 17
SOAAX Sortino Ratio Rank: 16
SOAAX Omega Ratio Rank: 16
SOAAX Calmar Ratio Rank: 29
SOAAX Martin Ratio Rank: 25

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.

FARCX vs. SOAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Real Estate Securities Fund (FARCX) and Spirit of America Real Estate Income & Growth Fund (SOAAX). 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.

	FARCX	SOAAX	Difference
Sharpe ratio: Return per unit of total volatility	1.25	1.10	+0.16
Sortino ratio: Return per unit of downside risk	1.74	1.53	+0.22
Omega ratio: Gain probability vs. loss probability	1.22	1.20	+0.03
Calmar ratio: Return relative to maximum drawdown	2.17	1.88	+0.29
Martin ratio: Return relative to average drawdown	6.99	5.58	+1.42

FARCX vs. SOAAX - Sharpe Ratio Comparison

The current FARCX Sharpe Ratio is 1.25, which is comparable to the SOAAX Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of FARCX and SOAAX, 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

FARCX vs. SOAAX - Drawdown Comparison

The maximum FARCX drawdown since its inception was -70.62%, smaller than the maximum SOAAX drawdown of -78.19%. Use the drawdown chart below to compare losses from any high point for FARCX and SOAAX.

Drawdown Indicators

	FARCX	SOAAX	Difference
Max Drawdown Largest peak-to-trough decline	-70.62%	-78.19%	+7.57%
Max Drawdown (1Y) Largest decline over 1 year	-7.83%	-7.74%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-17.59%	-19.29%	+1.70%
Max Drawdown (5Y) Largest decline over 5 years	-31.77%	-36.03%	+4.26%
Max Drawdown (10Y) Largest decline over 10 years	-41.05%	-41.24%	+0.19%
Current Drawdown Current decline from peak	-1.50%	-3.90%	+2.40%
Average Drawdown Average peak-to-trough decline	-10.44%	-14.60%	+4.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	2.60%	-0.18%

Volatility

FARCX vs. SOAAX - Volatility Comparison

Nuveen Real Estate Securities Fund (FARCX) has a higher volatility of 4.93% compared to Spirit of America Real Estate Income & Growth Fund (SOAAX) at 4.65%. This indicates that FARCX's price experiences larger fluctuations and is considered to be riskier than SOAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FARCX	SOAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.93%	4.65%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	9.96%	9.74%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	13.57%	13.29%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.38%	18.24%	+0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.20%	19.75%	+0.45%

FARCX vs. SOAAX - Expense Ratio Comparison

FARCX has a 0.97% expense ratio, which is lower than SOAAX's 1.52% expense ratio.

Dividends

FARCX vs. SOAAX - Dividend Comparison

FARCX's dividend yield for the trailing twelve months is around 5.09%, less than SOAAX's 9.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FARCX Nuveen Real Estate Securities Fund	5.09%	5.77%	9.34%	3.30%	20.25%	15.12%	2.89%	11.46%	6.19%	13.43%	10.99%	8.24%
SOAAX Spirit of America Real Estate Income & Growth Fund	9.26%	10.64%	9.53%	9.32%	9.32%	6.12%	8.13%	7.11%	8.47%	6.87%	7.18%	8.97%

Frequently Asked Questions

Can I hold both FARCX and SOAAX in my portfolio?

With a correlation of 0.98, FARCX and SOAAX 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, FARCX or SOAAX?

FARCX has higher volatility (4.93%) compared to SOAAX (4.65%). In terms of maximum drawdown, FARCX dropped -70.62% vs SOAAX's -78.19%.

Which has better risk-adjusted returns?

FARCX currently has the higher Sharpe Ratio (1.25 vs 1.10), 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.