GREIX vs. PJEZX

Last updated Jun 24, 2026

GREIX (Goldman Sachs Real Estate Securities Fund) and PJEZX (PGIM US Real Estate Fund) are both REIT funds. Over the past 10 years, GREIX returned 5.53%/yr vs 9.18%/yr for PJEZX. With a 0.98 correlation, they move nearly in lockstep. GREIX charges 0.91%/yr vs 1.00%/yr for PJEZX.

Performance

GREIX vs. PJEZX - Performance Comparison

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

Returns By Period

In the year-to-date period, GREIX achieves a 12.74% return, which is significantly lower than PJEZX's 17.00% return. Over the past 10 years, GREIX has underperformed PJEZX with an annualized return of 5.53%, while PJEZX has yielded a comparatively higher 9.18% annualized return.

GREIX

• 1D: 1.24%
• 1M: 0.10%
• YTD: 12.74%
• 6M: 13.25%
• 1Y: 10.21%
• 3Y*: 12.77%
• 5Y*: 4.05%
• 10Y*: 5.53%

PJEZX

• 1D: 1.52%
• 1M: 0.56%
• YTD: 17.00%
• 6M: 17.52%
• 1Y: 17.32%
• 3Y*: 15.17%
• 5Y*: 6.11%
• 10Y*: 9.18%

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

GREIX vs. PJEZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GREIX Goldman Sachs Real Estate Securities Fund	12.74%	-0.70%	11.77%	17.05%	-28.76%	44.65%	-7.53%	25.70%	-5.03%	2.55%
PJEZX PGIM US Real Estate Fund	17.00%	2.49%	13.08%	15.85%	-27.26%	48.32%	-4.86%	44.30%	-3.54%	5.60%

Correlation

The correlation between GREIX and PJEZX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Dec 21, 2010	0.98

The correlation between GREIX and PJEZX has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.

Return for Risk

GREIX vs. PJEZX — Risk / Return Rank

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

GREIX

GREIX Risk / Return Rank: 14
GREIX Sharpe Ratio Rank: 11
GREIX Sortino Ratio Rank: 11
GREIX Omega Ratio Rank: 11
GREIX Calmar Ratio Rank: 18
GREIX Martin Ratio Rank: 17

PJEZX

PJEZX Risk / Return Rank: 32
PJEZX Sharpe Ratio Rank: 26
PJEZX Sortino Ratio Rank: 23
PJEZX Omega Ratio Rank: 23
PJEZX Calmar Ratio Rank: 50
PJEZX Martin Ratio Rank: 36

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. PJEZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Real Estate Securities Fund (GREIX) and PGIM US Real Estate Fund (PJEZX). 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	PJEZX	Difference
Sharpe ratio: Return per unit of total volatility	0.85	1.34	-0.50
Sortino ratio: Return per unit of downside risk	1.21	1.86	-0.65
Omega ratio: Gain probability vs. loss probability	1.15	1.23	-0.08
Calmar ratio: Return relative to maximum drawdown	1.45	2.57	-1.13
Martin ratio: Return relative to average drawdown	4.12	7.54	-3.43

GREIX vs. PJEZX - Sharpe Ratio Comparison

The current GREIX Sharpe Ratio is 0.85, which is lower than the PJEZX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of GREIX and PJEZX, 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. PJEZX - Drawdown Comparison

The maximum GREIX drawdown since its inception was -74.21%, which is greater than PJEZX's maximum drawdown of -43.43%. Use the drawdown chart below to compare losses from any high point for GREIX and PJEZX.

Drawdown Indicators

	GREIX	PJEZX	Difference
Max Drawdown Largest peak-to-trough decline	-74.21%	-43.43%	-30.78%
Max Drawdown (1Y) Largest decline over 1 year	-8.13%	-7.32%	-0.81%
Max Drawdown (3Y) Largest decline over 3 years	-16.73%	-19.19%	+2.46%
Max Drawdown (5Y) Largest decline over 5 years	-34.43%	-34.60%	+0.17%
Max Drawdown (10Y) Largest decline over 10 years	-42.98%	-43.43%	+0.45%
Current Drawdown Current decline from peak	-1.71%	-0.77%	-0.94%
Average Drawdown Average peak-to-trough decline	-12.78%	-8.09%	-4.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	2.49%	+0.36%

Volatility

GREIX vs. PJEZX - Volatility Comparison

Goldman Sachs Real Estate Securities Fund (GREIX) and PGIM US Real Estate Fund (PJEZX) have volatilities of 5.11% and 5.08%, 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	PJEZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	5.08%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	10.36%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	13.94%	14.05%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.40%	18.92%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.02%	21.19%	-0.17%

GREIX vs. PJEZX - Expense Ratio Comparison

GREIX has a 0.91% expense ratio, which is lower than PJEZX's 1.00% expense ratio.

Dividends

GREIX vs. PJEZX - Dividend Comparison

GREIX's dividend yield for the trailing twelve months is around 32.84%, more than PJEZX's 1.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GREIX Goldman Sachs Real Estate Securities Fund	32.84%	35.97%	12.22%	4.00%	3.54%	6.27%	10.16%	18.31%	17.65%	20.54%	12.29%	4.46%
PJEZX PGIM US Real Estate Fund	1.78%	2.05%	1.93%	1.65%	3.21%	9.54%	1.56%	13.21%	5.43%	6.31%	15.48%	9.39%

Frequently Asked Questions

Can I hold both GREIX and PJEZX in my portfolio?

With a correlation of 0.94, GREIX and PJEZX 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, GREIX or PJEZX?

GREIX has higher volatility (5.11%) compared to PJEZX (5.08%). In terms of maximum drawdown, GREIX dropped -74.21% vs PJEZX's -43.43%.

Which has better risk-adjusted returns?

PJEZX currently has the higher Sharpe Ratio (1.34 vs 0.85), 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.