FREEX vs. IRFIX
FREEX (Franklin Real Estate Securities Fund) and IRFIX (Cohen & Steers International Realty Fund) are both REIT funds. Over the past 10 years, FREEX returned 6.77%/yr vs 3.10%/yr for IRFIX. A 0.53 correlation means they provide meaningful diversification when combined. FREEX charges 1.11%/yr vs 1.00%/yr for IRFIX.
Performance
FREEX vs. IRFIX - Performance Comparison
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Returns By Period
In the year-to-date period, FREEX achieves a 12.48% return, which is significantly higher than IRFIX's -2.41% return. Over the past 10 years, FREEX has outperformed IRFIX with an annualized return of 6.77%, while IRFIX has yielded a comparatively lower 3.10% annualized return.
FREEX
- 1D
- 1.34%
- 1M
- -0.08%
- YTD
- 12.48%
- 6M
- 12.84%
- 1Y
- 10.02%
- 3Y*
- 10.07%
- 5Y*
- 3.15%
- 10Y*
- 6.77%
IRFIX
- 1D
- -0.34%
- 1M
- -2.83%
- YTD
- -2.41%
- 6M
- -2.30%
- 1Y
- 2.34%
- 3Y*
- 6.23%
- 5Y*
- -3.72%
- 10Y*
- 3.10%
FREEX vs. IRFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FREEX Franklin Real Estate Securities Fund | 12.48% | 2.24% | 3.84% | 9.99% | -25.71% | 44.04% | -3.34% | 52.71% | -6.58% | 2.62% |
IRFIX Cohen & Steers International Realty Fund | -2.41% | 23.52% | -10.56% | 4.58% | -23.84% | 7.66% | -0.81% | 23.74% | -3.74% | 23.38% |
Correlation
The correlation between FREEX and IRFIX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2005 | 0.53 |
The correlation between FREEX and IRFIX has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.
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Return for Risk
FREEX vs. IRFIX — Risk / Return Rank
FREEX
IRFIX
FREEX vs. IRFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Real Estate Securities Fund (FREEX) and Cohen & Steers International Realty Fund (IRFIX). 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.
| FREEX | IRFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.05 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 0.21 | +1.29 |
| Martin ratioReturn relative to average drawdown | 4.29 | 0.58 | +3.71 |
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Drawdowns
FREEX vs. IRFIX - Drawdown Comparison
The maximum FREEX drawdown since its inception was -76.99%, which is greater than IRFIX's maximum drawdown of -70.13%. Use the drawdown chart below to compare losses from any high point for FREEX and IRFIX.
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Drawdown Indicators
| FREEX | IRFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.99% | -70.13% | -6.86% |
Max Drawdown (1Y)Largest decline over 1 year | -7.76% | -14.85% | +7.09% |
Max Drawdown (3Y)Largest decline over 3 years | -16.72% | -21.06% | +4.34% |
Max Drawdown (5Y)Largest decline over 5 years | -33.79% | -38.24% | +4.45% |
Max Drawdown (10Y)Largest decline over 10 years | -40.57% | -39.51% | -1.06% |
Current DrawdownCurrent decline from peak | -2.42% | -18.71% | +16.29% |
Average DrawdownAverage peak-to-trough decline | -14.22% | -18.65% | +4.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 5.42% | -2.71% |
Volatility
FREEX vs. IRFIX - Volatility Comparison
Franklin Real Estate Securities Fund (FREEX) has a higher volatility of 5.03% compared to Cohen & Steers International Realty Fund (IRFIX) at 3.50%. This indicates that FREEX's price experiences larger fluctuations and is considered to be riskier than IRFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FREEX | IRFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.03% | 3.50% | +1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 10.07% | 10.98% | -0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.53% | 13.20% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.41% | 15.34% | +4.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.89% | 15.65% | +6.24% |
FREEX vs. IRFIX - Expense Ratio Comparison
FREEX has a 1.11% expense ratio, which is higher than IRFIX's 1.00% expense ratio.
Dividends
FREEX vs. IRFIX - Dividend Comparison
FREEX's dividend yield for the trailing twelve months is around 5.91%, less than IRFIX's 6.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FREEX Franklin Real Estate Securities Fund | 5.91% | 6.65% | 12.00% | 5.13% | 3.70% | 7.51% | 8.38% | 33.46% | 5.49% | 9.77% | 2.66% | 1.50% |
IRFIX Cohen & Steers International Realty Fund | 6.32% | 6.17% | 3.24% | 2.62% | 2.62% | 7.70% | 3.40% | 9.81% | 4.19% | 3.37% | 6.46% | 3.36% |
Frequently Asked Questions
FREEX and IRFIX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FREEX has higher volatility (5.03%) compared to IRFIX (3.50%). In terms of maximum drawdown, FREEX dropped -76.99% vs IRFIX's -70.13%.
FREEX currently has the higher Sharpe Ratio (0.86 vs 0.24), 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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