NGREX vs. GRIFX
NGREX (Northern Global Real Estate Index Fund) and GRIFX (Apollo Diversified Real Estate Fund Class I) are both REIT funds. Over the past 10 years, NGREX returned 3.73%/yr vs 4.39%/yr for GRIFX. Their correlation of 0.81 means they have usually moved in the same direction. NGREX charges 0.47%/yr vs 2.23%/yr for GRIFX.
Performance
NGREX vs. GRIFX - Performance Comparison
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Returns By Period
In the year-to-date period, NGREX achieves a 12.06% return, which is significantly higher than GRIFX's 4.30% return. Over the past 10 years, NGREX has underperformed GRIFX with an annualized return of 3.73%, while GRIFX has yielded a comparatively higher 4.39% annualized return.
NGREX
- 1D
- -0.88%
- 1M
- 1.44%
- 6M
- 8.62%
- YTD
- 12.06%
- 1Y
- 17.89%
- 3Y*
- 10.12%
- 5Y*
- 2.16%
- 10Y*
- 3.73%
- ALL TIME*
- 3.72%
GRIFX
- 1D
- -0.12%
- 1M
- -0.89%
- 6M
- 3.96%
- YTD
- 4.30%
- 1Y
- 5.83%
- 3Y*
- 2.41%
- 5Y*
- 3.00%
- 10Y*
- 4.39%
- ALL TIME*
- 4.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
NGREX vs. GRIFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NGREX Northern Global Real Estate Index Fund | 12.06% | 10.42% | 2.63% | 9.98% | -24.31% | 22.71% | -8.35% | 23.17% | -6.70% | 14.36% |
GRIFX Apollo Diversified Real Estate Fund Class I | 4.30% | 1.14% | 3.78% | -3.05% | -1.17% | 22.08% | -2.69% | 8.38% | 4.97% | 6.73% |
Correlation
The correlation between NGREX and GRIFX is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.85 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2015 | 0.81 |
The correlation between NGREX and GRIFX has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.
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Return for Risk
NGREX vs. GRIFX — Risk / Return Rank
NGREX
GRIFX
NGREX vs. GRIFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Global Real Estate Index Fund (NGREX) and Apollo Diversified Real Estate Fund Class I (GRIFX). 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.
| NGREX | GRIFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.28 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 3.32 | -1.71 |
| Martin ratioReturn relative to average drawdown | 5.97 | 8.61 | -2.64 |
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Drawdowns
NGREX vs. GRIFX - Drawdown Comparison
The maximum NGREX drawdown since its inception was -72.37%, which is greater than GRIFX's maximum drawdown of -14.29%. Use the drawdown chart below to compare losses from any high point for NGREX and GRIFX.
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Drawdown Indicators
| NGREX | GRIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.37% | -14.29% | -58.08% |
Max Drawdown (1Y)Largest decline over 1 year | -10.33% | -1.70% | -8.63% |
Max Drawdown (3Y)Largest decline over 3 years | -17.07% | -6.12% | -10.95% |
Max Drawdown (5Y)Largest decline over 5 years | -32.14% | -14.29% | -17.85% |
Max Drawdown (10Y)Largest decline over 10 years | -41.06% | -14.29% | -26.77% |
Current DrawdownCurrent decline from peak | -1.32% | -1.60% | +0.28% |
Average DrawdownAverage peak-to-trough decline | -15.78% | -3.33% | -12.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 0.65% | +2.12% |
Volatility
NGREX vs. GRIFX - Volatility Comparison
Northern Global Real Estate Index Fund (NGREX) has a higher volatility of 3.18% compared to Apollo Diversified Real Estate Fund Class I (GRIFX) at 1.29%. This indicates that NGREX's price experiences larger fluctuations and is considered to be riskier than GRIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NGREX | GRIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.18% | 1.29% | +1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 11.87% | 2.85% | +9.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.73% | 3.75% | +9.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.00% | 5.51% | +10.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.07% | 4.64% | +12.43% |
NGREX vs. GRIFX - Expense Ratio Comparison
NGREX has a 0.47% expense ratio, which is lower than GRIFX's 2.23% expense ratio.
Dividends
NGREX vs. GRIFX - Dividend Comparison
NGREX's dividend yield for the trailing twelve months is around 3.20%, less than GRIFX's 7.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GRIFX Apollo Diversified Real Estate Fund Class I | 7.77% | 5.37% | 5.27% | 5.46% | 4.14% | 3.67% | 5.26% | 5.27% | 5.29% | 5.22% | 5.27% | 2.62% |
NGREX Northern Global Real Estate Index Fund | 3.20% | 3.92% | 3.71% | 2.40% | 1.85% | 3.11% | 2.09% | 4.49% | 3.91% | 2.59% | 4.36% | 2.49% |
Frequently Asked Questions
NGREX and GRIFX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NGREX has higher volatility (3.18%) compared to GRIFX (1.29%). In terms of maximum drawdown, NGREX dropped -72.37% vs GRIFX's -14.29%.
GRIFX currently has the higher Sharpe Ratio (1.51 vs 1.21), 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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