IARCX vs. INDEX

Last updated Jun 24, 2026

IARCX (Invesco Real Estate Fund) and INDEX (CYBER HORNET S&P 500) are both mutual funds - IARCX is a REIT fund managed by Invesco, while INDEX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, IARCX returned 3.63%/yr vs 13.29%/yr for INDEX. A 0.60 correlation means they provide meaningful diversification when combined. IARCX charges 1.98%/yr vs 0.25%/yr for INDEX.

Performance

IARCX vs. INDEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Real Estate Fund (IARCX) and CYBER HORNET S&P 500 (INDEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IARCX achieves a 13.81% return, which is significantly higher than INDEX's 9.65% return. Over the past 10 years, IARCX has underperformed INDEX with an annualized return of 3.63%, while INDEX has yielded a comparatively higher 13.29% annualized return.

IARCX

• 1D: 1.30%
• 1M: 0.45%
• YTD: 13.81%
• 6M: 14.39%
• 1Y: 9.87%
• 3Y*: 8.23%
• 5Y*: 1.00%
• 10Y*: 3.63%

INDEX

• 1D: -0.37%
• 1M: 0.11%
• YTD: 9.65%
• 6M: 8.70%
• 1Y: 25.41%
• 3Y*: 19.79%
• 5Y*: 11.53%
• 10Y*: 13.29%

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

IARCX vs. INDEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IARCX Invesco Real Estate Fund	13.81%	-0.91%	1.03%	7.95%	-25.40%	39.81%	-11.68%	26.50%	-6.36%	7.61%
INDEX CYBER HORNET S&P 500	9.65%	17.77%	24.73%	10.58%	-11.84%	29.10%	12.75%	28.98%	-7.83%	18.70%

Correlation

The correlation between IARCX and INDEX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since May 11, 2015	0.60

Over the past year, the correlation between IARCX and INDEX has dropped to 0.27 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.

Return for Risk

IARCX vs. INDEX — Risk / Return Rank

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

IARCX

IARCX Risk / Return Rank: 13
IARCX Sharpe Ratio Rank: 11
IARCX Sortino Ratio Rank: 10
IARCX Omega Ratio Rank: 11
IARCX Calmar Ratio Rank: 17
IARCX Martin Ratio Rank: 15

INDEX

INDEX Risk / Return Rank: 65
INDEX Sharpe Ratio Rank: 63
INDEX Sortino Ratio Rank: 57
INDEX Omega Ratio Rank: 59
INDEX Calmar Ratio Rank: 67
INDEX Martin Ratio Rank: 78

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.

IARCX vs. INDEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Real Estate Fund (IARCX) and CYBER HORNET S&P 500 (INDEX). 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.

	IARCX	INDEX	Difference
Sharpe ratio: Return per unit of total volatility	0.83	2.15	-1.32
Sortino ratio: Return per unit of downside risk	1.18	2.91	-1.73
Omega ratio: Gain probability vs. loss probability	1.15	1.39	-0.24
Calmar ratio: Return relative to maximum drawdown	1.39	3.00	-1.60
Martin ratio: Return relative to average drawdown	3.89	13.57	-9.68

IARCX vs. INDEX - Sharpe Ratio Comparison

The current IARCX Sharpe Ratio is 0.83, which is lower than the INDEX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of IARCX and INDEX, 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

IARCX vs. INDEX - Drawdown Comparison

The maximum IARCX drawdown since its inception was -82.76%, which is greater than INDEX's maximum drawdown of -38.82%. Use the drawdown chart below to compare losses from any high point for IARCX and INDEX.

Drawdown Indicators

	IARCX	INDEX	Difference
Max Drawdown Largest peak-to-trough decline	-82.76%	-38.82%	-43.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.18%	-8.93%	+0.75%
Max Drawdown (3Y) Largest decline over 3 years	-18.05%	-18.75%	+0.70%
Max Drawdown (5Y) Largest decline over 5 years	-34.83%	-21.52%	-13.31%
Max Drawdown (10Y) Largest decline over 10 years	-42.45%	-38.82%	-3.63%
Current Drawdown Current decline from peak	-8.25%	-1.70%	-6.55%
Average Drawdown Average peak-to-trough decline	-36.07%	-4.62%	-31.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	1.97%	+0.95%

Volatility

IARCX vs. INDEX - Volatility Comparison

Invesco Real Estate Fund (IARCX) has a higher volatility of 5.19% compared to CYBER HORNET S&P 500 (INDEX) at 4.71%. This indicates that IARCX's price experiences larger fluctuations and is considered to be riskier than INDEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IARCX	INDEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	4.71%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	10.34%	9.85%	+0.49%
Volatility (1Y) Calculated over the trailing 1-year period	13.79%	12.47%	+1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.78%	16.83%	+1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.88%	18.69%	+2.19%

IARCX vs. INDEX - Expense Ratio Comparison

IARCX has a 1.98% expense ratio, which is higher than INDEX's 0.25% expense ratio.

Dividends

IARCX vs. INDEX - Dividend Comparison

IARCX's dividend yield for the trailing twelve months is around 4.52%, more than INDEX's 0.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IARCX Invesco Real Estate Fund	4.52%	5.26%	3.66%	2.50%	9.87%	4.94%	6.58%	7.98%	6.65%	5.22%	14.83%	16.26%
INDEX CYBER HORNET S&P 500	0.95%	1.04%	1.97%	1.56%	3.25%	1.81%	1.53%	1.61%	3.09%	1.15%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IARCX and INDEX in my portfolio?

IARCX and INDEX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IARCX or INDEX?

IARCX has higher volatility (5.19%) compared to INDEX (4.71%). In terms of maximum drawdown, IARCX dropped -82.76% vs INDEX's -38.82%.

Which has better risk-adjusted returns?

INDEX currently has the higher Sharpe Ratio (2.15 vs 0.83), 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.