GRIFX vs. REIFX
GRIFX (Apollo Diversified Real Estate Fund Class I) and REIFX (Third Avenue International Real Estate Value Fund) are both REIT funds. Over the past 10 years, GRIFX returned 4.35%/yr vs 6.81%/yr for REIFX. At a 0.43 correlation, their price movements are largely independent. GRIFX charges 2.23%/yr vs 1.00%/yr for REIFX.
Performance
GRIFX vs. REIFX - Performance Comparison
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Returns By Period
In the year-to-date period, GRIFX achieves a 3.66% return, which is significantly higher than REIFX's -2.94% return. Over the past 10 years, GRIFX has underperformed REIFX with an annualized return of 4.35%, while REIFX has yielded a comparatively higher 6.81% annualized return.
GRIFX
- 1D
- 0.04%
- 1M
- -0.15%
- YTD
- 3.66%
- 6M
- 3.66%
- 1Y
- 4.47%
- 3Y*
- 2.44%
- 5Y*
- 3.58%
- 10Y*
- 4.35%
REIFX
- 1D
- 0.00%
- 1M
- -0.88%
- YTD
- -2.94%
- 6M
- -2.38%
- 1Y
- 2.40%
- 3Y*
- 6.51%
- 5Y*
- 3.08%
- 10Y*
- 6.81%
GRIFX vs. REIFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GRIFX Apollo Diversified Real Estate Fund Class I | 3.66% | 1.14% | 3.78% | -3.05% | -1.17% | 22.08% | -2.69% | 8.38% | 4.97% | 6.73% |
REIFX Third Avenue International Real Estate Value Fund | -2.94% | 25.35% | -5.51% | 13.91% | -18.22% | 18.78% | 5.04% | 21.50% | -5.89% | 27.14% |
Correlation
The correlation between GRIFX and REIFX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2015 | 0.43 |
The correlation between GRIFX and REIFX shifts across timeframes, from 0.42 (1 year) to 0.52 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GRIFX vs. REIFX — Risk / Return Rank
GRIFX
REIFX
GRIFX vs. REIFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Apollo Diversified Real Estate Fund Class I (GRIFX) and Third Avenue International Real Estate Value Fund (REIFX). 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.
| GRIFX | REIFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.03 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | 0.12 | +2.48 |
| Martin ratioReturn relative to average drawdown | 6.42 | 0.31 | +6.11 |
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Drawdowns
GRIFX vs. REIFX - Drawdown Comparison
The maximum GRIFX drawdown since its inception was -14.29%, smaller than the maximum REIFX drawdown of -37.61%. Use the drawdown chart below to compare losses from any high point for GRIFX and REIFX.
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Drawdown Indicators
| GRIFX | REIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.29% | -37.61% | +23.32% |
Max Drawdown (1Y)Largest decline over 1 year | -1.70% | -14.58% | +12.88% |
Max Drawdown (3Y)Largest decline over 3 years | -7.28% | -15.83% | +8.55% |
Max Drawdown (5Y)Largest decline over 5 years | -14.29% | -26.20% | +11.91% |
Max Drawdown (10Y)Largest decline over 10 years | -14.29% | -37.61% | +23.32% |
Current DrawdownCurrent decline from peak | -2.20% | -12.31% | +10.11% |
Average DrawdownAverage peak-to-trough decline | -3.36% | -6.90% | +3.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 5.85% | -5.16% |
Volatility
GRIFX vs. REIFX - Volatility Comparison
The current volatility for Apollo Diversified Real Estate Fund Class I (GRIFX) is 1.21%, while Third Avenue International Real Estate Value Fund (REIFX) has a volatility of 3.73%. This indicates that GRIFX experiences smaller price fluctuations and is considered to be less risky than REIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GRIFX | REIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 3.73% | -2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 2.68% | 10.81% | -8.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.71% | 12.99% | -9.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.51% | 14.18% | -8.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.65% | 14.34% | -9.69% |
GRIFX vs. REIFX - Expense Ratio Comparison
GRIFX has a 2.23% expense ratio, which is higher than REIFX's 1.00% expense ratio.
Dividends
GRIFX vs. REIFX - Dividend Comparison
GRIFX's dividend yield for the trailing twelve months is around 7.82%, more than REIFX's 2.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GRIFX Apollo Diversified Real Estate Fund Class I | 7.82% | 5.37% | 5.27% | 5.46% | 4.14% | 3.67% | 5.26% | 5.27% | 5.29% | 5.22% | 5.27% | 2.62% |
REIFX Third Avenue International Real Estate Value Fund | 2.35% | 2.28% | 2.37% | 2.63% | 1.98% | 2.22% | 3.74% | 1.40% | 11.92% | 2.80% | 0.90% | 3.00% |
Frequently Asked Questions
GRIFX and REIFX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REIFX has higher volatility (3.73%) compared to GRIFX (1.21%). In terms of maximum drawdown, GRIFX dropped -14.29% vs REIFX's -37.61%.
GRIFX currently has the higher Sharpe Ratio (1.19 vs 0.14), 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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