PAFGX vs. NRIIX
PAFGX (T. Rowe Price Global Allocation Fund) and NRIIX (Nuveen Real Asset Income Fund) are both Global Allocation funds. Over the past 10 years, PAFGX returned 7.71%/yr vs 5.48%/yr for NRIIX. Their 0.72 correlation means they have sometimes moved together and sometimes differently. PAFGX charges 1.02%/yr vs 0.91%/yr for NRIIX.
Performance
PAFGX vs. NRIIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with PAFGX having a 7.24% return and NRIIX slightly higher at 7.34%. Over the past 10 years, PAFGX has outperformed NRIIX with an annualized return of 7.71%, while NRIIX has yielded a comparatively lower 5.48% annualized return.
PAFGX
- 1D
- 0.29%
- 1M
- 0.18%
- 6M
- 4.35%
- YTD
- 7.24%
- 1Y
- 15.48%
- 3Y*
- 11.74%
- 5Y*
- 5.60%
- 10Y*
- 7.71%
- ALL TIME*
- 7.10%
NRIIX
- 1D
- 0.13%
- 1M
- 0.26%
- 6M
- 4.95%
- YTD
- 7.34%
- 1Y
- 12.30%
- 3Y*
- 11.25%
- 5Y*
- 5.15%
- 10Y*
- 5.48%
- ALL TIME*
- 7.06%
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 |
PAFGX vs. NRIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAFGX T. Rowe Price Global Allocation Fund | 7.24% | 14.75% | 9.43% | 13.48% | -14.80% | 8.83% | 14.45% | 19.91% | -7.15% | 15.77% |
NRIIX Nuveen Real Asset Income Fund | 7.34% | 12.55% | 7.56% | 10.38% | -11.50% | 10.58% | -3.45% | 22.74% | -6.10% | 12.39% |
Correlation
The correlation between PAFGX and NRIIX is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.48 |
Correlation (3Y) Balances recent behavior with more history. | 0.62 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | 0.72 |
Over the past year, the correlation between PAFGX and NRIIX has dropped to 0.48 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.
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Return for Risk
PAFGX vs. NRIIX — Risk / Return Rank
PAFGX
NRIIX
PAFGX vs. NRIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Global Allocation Fund (PAFGX) and Nuveen Real Asset Income Fund (NRIIX). 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.
| PAFGX | NRIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.41 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 2.58 | -0.38 |
| Martin ratioReturn relative to average drawdown | 9.27 | 10.44 | -1.16 |
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Drawdowns
PAFGX vs. NRIIX - Drawdown Comparison
The maximum PAFGX drawdown since its inception was -24.45%, smaller than the maximum NRIIX drawdown of -37.35%. Use the drawdown chart below to compare losses from any high point for PAFGX and NRIIX.
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Drawdown Indicators
| PAFGX | NRIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.45% | -37.35% | +12.90% |
Max Drawdown (1Y)Largest decline over 1 year | -6.79% | -4.90% | -1.89% |
Max Drawdown (3Y)Largest decline over 3 years | -9.63% | -6.41% | -3.22% |
Max Drawdown (5Y)Largest decline over 5 years | -22.00% | -18.44% | -3.56% |
Max Drawdown (10Y)Largest decline over 10 years | -24.45% | -37.35% | +12.90% |
Current DrawdownCurrent decline from peak | -0.47% | -0.38% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -3.75% | -3.61% | -0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 1.20% | +0.40% |
Volatility
PAFGX vs. NRIIX - Volatility Comparison
T. Rowe Price Global Allocation Fund (PAFGX) has a higher volatility of 2.41% compared to Nuveen Real Asset Income Fund (NRIIX) at 1.40%. This indicates that PAFGX's price experiences larger fluctuations and is considered to be riskier than NRIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAFGX | NRIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.41% | 1.40% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 7.26% | 4.75% | +2.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.53% | 5.79% | +2.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.57% | 8.37% | +1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.19% | 10.19% | 0.00% |
PAFGX vs. NRIIX - Expense Ratio Comparison
PAFGX has a 1.02% expense ratio, which is higher than NRIIX's 0.91% expense ratio.
Dividends
PAFGX vs. NRIIX - Dividend Comparison
PAFGX's dividend yield for the trailing twelve months is around 6.29%, which matches NRIIX's 6.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NRIIX Nuveen Real Asset Income Fund | 6.27% | 6.71% | 5.39% | 6.70% | 5.81% | 4.34% | 4.63% | 5.99% | 5.82% | 5.73% | 5.47% | 5.70% |
PAFGX T. Rowe Price Global Allocation Fund | 6.29% | 6.75% | 5.00% | 2.32% | 2.74% | 7.14% | 0.79% | 2.92% | 2.26% | 0.75% | 0.36% | 1.62% |
Frequently Asked Questions
PAFGX and NRIIX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAFGX has higher volatility (2.41%) compared to NRIIX (1.40%). In terms of maximum drawdown, PAFGX dropped -24.45% vs NRIIX's -37.35%.
NRIIX currently has the higher Sharpe Ratio (2.18 vs 1.75), 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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