IRGIX vs. CRARX
IRGIX (VY CBRE Global Real Estate Portfolio) and CRARX (MainStay CBRE Real Estate Fund) are both REIT funds. Over the past 10 years, IRGIX returned 4.16%/yr vs 5.14%/yr for CRARX. Their correlation of 0.89 suggests significant overlap in exposure. IRGIX charges 0.87%/yr vs 0.83%/yr for CRARX.
Performance
IRGIX vs. CRARX - Performance Comparison
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Returns By Period
In the year-to-date period, IRGIX achieves a 7.08% return, which is significantly lower than CRARX's 14.00% return. Over the past 10 years, IRGIX has underperformed CRARX with an annualized return of 4.16%, while CRARX has yielded a comparatively higher 5.14% annualized return.
IRGIX
- 1D
- 0.00%
- 1M
- -1.48%
- YTD
- 7.08%
- 6M
- 7.39%
- 1Y
- 9.73%
- 3Y*
- 7.73%
- 5Y*
- 2.10%
- 10Y*
- 4.16%
CRARX
- 1D
- 0.17%
- 1M
- -1.29%
- YTD
- 14.00%
- 6M
- 14.34%
- 1Y
- 12.87%
- 3Y*
- 7.89%
- 5Y*
- 3.01%
- 10Y*
- 5.14%
IRGIX vs. CRARX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IRGIX VY CBRE Global Real Estate Portfolio | 7.08% | 6.78% | 0.38% | 12.63% | -24.95% | 34.42% | -4.96% | 24.74% | -8.52% | 10.82% |
CRARX MainStay CBRE Real Estate Fund | 14.00% | -0.28% | 0.71% | 13.50% | -26.95% | 52.55% | -6.50% | 28.29% | -8.00% | 5.23% |
Correlation
The correlation between IRGIX and CRARX is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2006 | 0.89 |
The correlation between IRGIX and CRARX has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.
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Return for Risk
IRGIX vs. CRARX — Risk / Return Rank
IRGIX
CRARX
IRGIX vs. CRARX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VY CBRE Global Real Estate Portfolio (IRGIX) and MainStay CBRE Real Estate Fund (CRARX). 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.
| IRGIX | CRARX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.17 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.02 | 1.61 | -0.59 |
| Martin ratioReturn relative to average drawdown | 3.56 | 4.99 | -1.42 |
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Drawdowns
IRGIX vs. CRARX - Drawdown Comparison
The maximum IRGIX drawdown since its inception was -68.77%, smaller than the maximum CRARX drawdown of -72.66%. Use the drawdown chart below to compare losses from any high point for IRGIX and CRARX.
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Drawdown Indicators
| IRGIX | CRARX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.77% | -72.66% | +3.89% |
Max Drawdown (1Y)Largest decline over 1 year | -9.95% | -7.99% | -1.96% |
Max Drawdown (3Y)Largest decline over 3 years | -18.56% | -18.78% | +0.22% |
Max Drawdown (5Y)Largest decline over 5 years | -33.32% | -35.43% | +2.11% |
Max Drawdown (10Y)Largest decline over 10 years | -42.76% | -45.19% | +2.43% |
Current DrawdownCurrent decline from peak | -3.10% | -5.07% | +1.97% |
Average DrawdownAverage peak-to-trough decline | -14.13% | -12.55% | -1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.74% | 2.57% | +0.17% |
Volatility
IRGIX vs. CRARX - Volatility Comparison
The current volatility for VY CBRE Global Real Estate Portfolio (IRGIX) is 4.20%, while MainStay CBRE Real Estate Fund (CRARX) has a volatility of 4.93%. This indicates that IRGIX experiences smaller price fluctuations and is considered to be less risky than CRARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IRGIX | CRARX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 4.93% | -0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 10.46% | 10.04% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.28% | 13.48% | -0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.02% | 19.02% | -2.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.93% | 21.31% | -3.38% |
IRGIX vs. CRARX - Expense Ratio Comparison
IRGIX has a 0.87% expense ratio, which is higher than CRARX's 0.83% expense ratio.
Dividends
IRGIX vs. CRARX - Dividend Comparison
IRGIX's dividend yield for the trailing twelve months is around 7.07%, more than CRARX's 2.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRARX MainStay CBRE Real Estate Fund | 2.20% | 2.57% | 1.80% | 3.36% | 34.64% | 4.37% | 1.77% | 15.57% | 30.33% | 21.82% | 8.85% | 7.27% |
IRGIX VY CBRE Global Real Estate Portfolio | 7.07% | 3.00% | 3.20% | 2.90% | 10.28% | 2.59% | 15.46% | 2.73% | 6.15% | 3.71% | 1.41% | 3.38% |
Frequently Asked Questions
IRGIX and CRARX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CRARX has higher volatility (4.93%) compared to IRGIX (4.20%). In terms of maximum drawdown, IRGIX dropped -68.77% vs CRARX's -72.66%.
CRARX currently has the higher Sharpe Ratio (0.95 vs 0.76), 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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