JRS vs. NIE

Last updated Jun 13, 2026

JRS (Nuveen Real Estate Income Fund) is a stock, while NIE (Virtus Equity & Convertible Income Fund) is Derivative Income fund actively managed by Virtus. Over the past 10 years, JRS returned 5.70%/yr vs 14.12%/yr for NIE. A 0.50 correlation means they provide meaningful diversification when combined. JRS charges 1.53%/yr vs 1.12%/yr for NIE.

Performance

JRS vs. NIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Real Estate Income Fund (JRS) and Virtus Equity & Convertible Income Fund (NIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JRS achieves a 13.72% return, which is significantly higher than NIE's 8.90% return. Over the past 10 years, JRS has underperformed NIE with an annualized return of 5.70%, while NIE has yielded a comparatively higher 14.12% annualized return.

JRS

• 1D: 0.23%
• 1M: 3.52%
• YTD: 13.72%
• 6M: 14.62%
• 1Y: 15.37%
• 3Y*: 14.20%
• 5Y*: 2.51%
• 10Y*: 5.70%

NIE

• 1D: 0.53%
• 1M: -0.78%
• YTD: 8.90%
• 6M: 10.96%
• 1Y: 24.35%
• 3Y*: 19.17%
• 5Y*: 10.22%
• 10Y*: 14.12%

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

JRS vs. NIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JRS Nuveen Real Estate Income Fund	13.72%	-3.38%	19.74%	13.42%	-35.61%	62.86%	-12.66%	34.92%	-18.07%	14.38%
NIE Virtus Equity & Convertible Income Fund	8.90%	12.15%	28.64%	26.71%	-26.73%	18.89%	33.78%	31.09%	-5.69%	23.68%

Correlation

The correlation between JRS and NIE is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Feb 23, 2007	0.50

The correlation between JRS and NIE shifts across timeframes, from 0.34 (1 year) to 0.54 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

JRS vs. NIE — Risk / Return Rank

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

JRS

JRS Risk / Return Rank: 72
JRS Sharpe Ratio Rank: 75
JRS Sortino Ratio Rank: 70
JRS Omega Ratio Rank: 68
JRS Calmar Ratio Rank: 69
JRS Martin Ratio Rank: 75

NIE

NIE Risk / Return Rank: 71
NIE Sharpe Ratio Rank: 73
NIE Sortino Ratio Rank: 72
NIE Omega Ratio Rank: 68
NIE Calmar Ratio Rank: 69
NIE Martin Ratio Rank: 73

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.

JRS vs. NIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Real Estate Income Fund (JRS) and Virtus Equity & Convertible Income Fund (NIE). 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.

	JRS	NIE	Difference
Sharpe ratio: Return per unit of total volatility	1.06	2.06	-0.99
Sortino ratio: Return per unit of downside risk	1.64	2.89	-1.25
Omega ratio: Gain probability vs. loss probability	1.20	1.37	-0.17
Calmar ratio: Return relative to maximum drawdown	1.39	2.72	-1.33
Martin ratio: Return relative to average drawdown	4.52	11.23	-6.71

JRS vs. NIE - Sharpe Ratio Comparison

The current JRS Sharpe Ratio is 1.06, which is lower than the NIE Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of JRS and NIE, 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

JRS vs. NIE - Drawdown Comparison

The maximum JRS drawdown since its inception was -87.80%, which is greater than NIE's maximum drawdown of -57.90%. Use the drawdown chart below to compare losses from any high point for JRS and NIE.

Drawdown Indicators

	JRS	NIE	Difference
Max Drawdown Largest peak-to-trough decline	-87.80%	-57.90%	-29.90%
Max Drawdown (1Y) Largest decline over 1 year	-11.10%	-8.99%	-2.11%
Max Drawdown (3Y) Largest decline over 3 years	-25.33%	-20.79%	-4.54%
Max Drawdown (5Y) Largest decline over 5 years	-45.57%	-31.04%	-14.53%
Max Drawdown (10Y) Largest decline over 10 years	-54.64%	-38.99%	-15.65%
Current Drawdown Current decline from peak	-3.91%	-1.95%	-1.96%
Average Drawdown Average peak-to-trough decline	-19.05%	-8.00%	-11.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	2.18%	+1.24%

Volatility

JRS vs. NIE - Volatility Comparison

Nuveen Real Estate Income Fund (JRS) has a higher volatility of 5.26% compared to Virtus Equity & Convertible Income Fund (NIE) at 4.42%. This indicates that JRS's price experiences larger fluctuations and is considered to be riskier than NIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JRS	NIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	4.42%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	11.27%	9.60%	+1.67%
Volatility (1Y) Calculated over the trailing 1-year period	14.52%	11.89%	+2.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.93%	17.59%	+4.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.32%	19.78%	+4.54%

JRS vs. NIE - Expense Ratio Comparison

JRS has a 1.53% expense ratio, which is higher than NIE's 1.12% expense ratio.

Dividends

JRS vs. NIE - Dividend Comparison

JRS's dividend yield for the trailing twelve months is around 7.98%, more than NIE's 7.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JRS Nuveen Real Estate Income Fund	7.98%	8.88%	7.88%	8.70%	11.06%	5.93%	9.00%	7.16%	9.99%	8.88%	9.10%	9.04%
NIE Virtus Equity & Convertible Income Fund	7.62%	10.14%	8.11%	9.56%	21.81%	10.86%	5.37%	6.71%	8.20%	7.19%	8.25%	8.46%

Frequently Asked Questions

Can I hold both JRS and NIE in my portfolio?

JRS and NIE have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JRS or NIE?

JRS has higher volatility (5.26%) compared to NIE (4.42%). In terms of maximum drawdown, JRS dropped -87.80% vs NIE's -57.90%.

Which has better risk-adjusted returns?

NIE currently has the higher Sharpe Ratio (2.06 vs 1.06), 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.