GREIX vs. IVRSX

Last updated Jun 23, 2026

GREIX (Goldman Sachs Real Estate Securities Fund) and IVRSX (VY CBRE Real Estate Portfolio) are both REIT funds. Over the past 10 years, GREIX returned 5.35%/yr vs 5.25%/yr for IVRSX. With a 0.98 correlation, they move nearly in lockstep. GREIX charges 0.91%/yr vs 0.93%/yr for IVRSX.

Performance

GREIX vs. IVRSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Real Estate Securities Fund (GREIX) and VY CBRE Real Estate Portfolio (IVRSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GREIX achieves a 11.36% return, which is significantly lower than IVRSX's 14.49% return. Both investments have delivered pretty close results over the past 10 years, with GREIX having a 5.35% annualized return and IVRSX not far behind at 5.25%.

GREIX

• 1D: -0.10%
• 1M: -1.12%
• YTD: 11.36%
• 6M: 11.87%
• 1Y: 10.30%
• 3Y*: 10.59%
• 5Y*: 4.12%
• 10Y*: 5.35%

IVRSX

• 1D: 0.35%
• 1M: -0.73%
• YTD: 14.49%
• 6M: 14.57%
• 1Y: 15.37%
• 3Y*: 8.80%
• 5Y*: 3.97%
• 10Y*: 5.25%

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

GREIX vs. IVRSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GREIX Goldman Sachs Real Estate Securities Fund	11.36%	-0.70%	11.77%	17.05%	-28.76%	44.65%	-7.53%	25.70%	-5.03%	2.55%
IVRSX VY CBRE Real Estate Portfolio	14.49%	-0.01%	4.32%	14.11%	-27.22%	51.91%	-6.66%	28.15%	-10.29%	5.20%

Correlation

The correlation between GREIX and IVRSX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999	0.98

The correlation between GREIX and IVRSX shifts across timeframes, from 0.88 (1 year) to 0.98 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GREIX vs. IVRSX — Risk / Return Rank

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

GREIX

GREIX Risk / Return Rank: 11
GREIX Sharpe Ratio Rank: 9
GREIX Sortino Ratio Rank: 9
GREIX Omega Ratio Rank: 9
GREIX Calmar Ratio Rank: 15
GREIX Martin Ratio Rank: 14

IVRSX

IVRSX Risk / Return Rank: 26
IVRSX Sharpe Ratio Rank: 21
IVRSX Sortino Ratio Rank: 19
IVRSX Omega Ratio Rank: 19
IVRSX Calmar Ratio Rank: 38
IVRSX Martin Ratio Rank: 32

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.

GREIX vs. IVRSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Real Estate Securities Fund (GREIX) and VY CBRE Real Estate Portfolio (IVRSX). 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.

	GREIX	IVRSX	Difference
Sharpe ratio: Return per unit of total volatility	0.74	1.21	-0.47
Sortino ratio: Return per unit of downside risk	1.08	1.69	-0.61
Omega ratio: Gain probability vs. loss probability	1.14	1.21	-0.07
Calmar ratio: Return relative to maximum drawdown	1.27	2.21	-0.95
Martin ratio: Return relative to average drawdown	3.60	6.83	-3.22

GREIX vs. IVRSX - Sharpe Ratio Comparison

The current GREIX Sharpe Ratio is 0.74, which is lower than the IVRSX Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of GREIX and IVRSX, 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

GREIX vs. IVRSX - Drawdown Comparison

The maximum GREIX drawdown since its inception was -74.21%, roughly equal to the maximum IVRSX drawdown of -73.77%. Use the drawdown chart below to compare losses from any high point for GREIX and IVRSX.

Drawdown Indicators

	GREIX	IVRSX	Difference
Max Drawdown Largest peak-to-trough decline	-74.21%	-73.77%	-0.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.13%	-7.74%	-0.39%
Max Drawdown (3Y) Largest decline over 3 years	-16.73%	-19.29%	+2.56%
Max Drawdown (5Y) Largest decline over 5 years	-34.43%	-34.51%	+0.08%
Max Drawdown (10Y) Largest decline over 10 years	-42.98%	-45.19%	+2.21%
Current Drawdown Current decline from peak	-2.91%	-2.50%	-0.41%
Average Drawdown Average peak-to-trough decline	-12.79%	-11.91%	-0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	2.44%	+0.41%

Volatility

GREIX vs. IVRSX - Volatility Comparison

Goldman Sachs Real Estate Securities Fund (GREIX) and VY CBRE Real Estate Portfolio (IVRSX) have volatilities of 5.11% and 5.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GREIX	IVRSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	5.04%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	10.34%	10.16%	+0.18%
Volatility (1Y) Calculated over the trailing 1-year period	13.86%	14.12%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.41%	19.68%	-0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.01%	21.57%	-0.56%

GREIX vs. IVRSX - Expense Ratio Comparison

GREIX has a 0.91% expense ratio, which is lower than IVRSX's 0.93% expense ratio.

Dividends

GREIX vs. IVRSX - Dividend Comparison

GREIX's dividend yield for the trailing twelve months is around 33.25%, more than IVRSX's 4.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GREIX Goldman Sachs Real Estate Securities Fund	33.25%	35.97%	12.22%	4.00%	3.54%	6.27%	10.16%	18.31%	17.65%	20.54%	12.29%	4.46%
IVRSX VY CBRE Real Estate Portfolio	4.29%	2.74%	2.50%	8.77%	26.34%	1.46%	13.92%	2.44%	11.42%	2.07%	1.57%	1.31%

Frequently Asked Questions

Can I hold both GREIX and IVRSX in my portfolio?

GREIX and IVRSX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GREIX or IVRSX?

GREIX has higher volatility (5.11%) compared to IVRSX (5.04%). In terms of maximum drawdown, GREIX dropped -74.21% vs IVRSX's -73.77%.

Which has better risk-adjusted returns?

IVRSX currently has the higher Sharpe Ratio (1.21 vs 0.74), 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.