PAGEX vs. PREIX

Last updated Aug 1, 2026

PAGEX (T. Rowe Price Global Real Estate Fund) and PREIX (T. Rowe Price Equity Index 500 Fund) are both mutual funds - PAGEX is a REIT fund managed by T. Rowe Price, while PREIX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Over the past 10 years, PAGEX returned 3.34%/yr vs 14.76%/yr for PREIX. Their 0.71 correlation means they have sometimes moved together and sometimes differently. PAGEX charges 1.15%/yr vs 0.15%/yr for PREIX.

Performance

PAGEX vs. PREIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Global Real Estate Fund (PAGEX) and T. Rowe Price Equity Index 500 Fund (PREIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAGEX achieves a 11.49% return, which is significantly higher than PREIX's 9.23% return. Over the past 10 years, PAGEX has underperformed PREIX with an annualized return of 3.34%, while PREIX has yielded a comparatively higher 14.76% annualized return.

PAGEX

• 1D: -0.31%
• 1M: 2.37%
• 6M: 8.35%
• YTD: 11.49%
• 1Y: 16.50%
• 3Y*: 7.53%
• 5Y*: 0.63%
• 10Y*: 3.34%
• ALL TIME*: 7.53%

PREIX

• 1D: 1.66%
• 1M: -0.57%
• 6M: 7.69%
• YTD: 9.23%
• 1Y: 20.41%
• 3Y*: 18.81%
• 5Y*: 12.49%
• 10Y*: 14.76%
• ALL TIME*: 10.98%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PAGEX T. Rowe Price Global Real Estate Fund	$0.00	$0.00	$0.00
PREIX T. Rowe Price Equity Index 500 Fund	$0.00	$0.00	$0.00

PAGEX vs. PREIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAGEX T. Rowe Price Global Real Estate Fund	11.49%	5.39%	0.92%	11.33%	-26.47%	28.48%	-4.13%	29.48%	-7.71%	6.97%
PREIX T. Rowe Price Equity Index 500 Fund	9.23%	17.66%	24.78%	26.07%	-18.27%	28.48%	18.17%	31.47%	-4.59%	21.01%

Correlation

The correlation between PAGEX and PREIX is 0.31, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.31
Correlation (3Y) Balances recent behavior with more history.	0.52
Correlation (5Y) Shows whether the relationship held over a longer period.	0.64
Correlation (10Y) Provides a long-term view across more market conditions.	0.62
Correlation (All Time) Calculated using the full available price history since Oct 28, 2008	0.71

Over the past year, the correlation between PAGEX and PREIX has dropped to 0.31 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

Return for Risk

PAGEX vs. PREIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PAGEX

PAGEX Risk / Return Rank: 39
PAGEX Sharpe Ratio Rank: 43
PAGEX Sortino Ratio Rank: 43
PAGEX Omega Ratio Rank: 43
PAGEX Calmar Ratio Rank: 33
PAGEX Martin Ratio Rank: 33

PREIX

PREIX Risk / Return Rank: 62
PREIX Sharpe Ratio Rank: 60
PREIX Sortino Ratio Rank: 56
PREIX Omega Ratio Rank: 57
PREIX Calmar Ratio Rank: 63
PREIX Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PAGEX vs. PREIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Global Real Estate Fund (PAGEX) and T. Rowe Price Equity Index 500 Fund (PREIX). 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.

	PAGEX	PREIX	Difference
Sharpe ratio: Return per unit of total volatility	1.29	1.41	-0.12
Sortino ratio: Return per unit of downside risk	1.86	1.97	-0.11
Omega ratio: Gain probability vs. loss probability	1.24	1.25	-0.01
Calmar ratio: Return relative to maximum drawdown	1.48	2.03	-0.55
Martin ratio: Return relative to average drawdown	5.18	8.70	-3.52

PAGEX vs. PREIX - Sharpe Ratio Comparison

The current PAGEX Sharpe Ratio is 1.29, which is comparable to the PREIX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of PAGEX and PREIX, 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

PAGEX vs. PREIX - Drawdown Comparison

The maximum PAGEX drawdown since its inception was -43.69%, smaller than the maximum PREIX drawdown of -55.32%. Use the drawdown chart below to compare losses from any high point for PAGEX and PREIX.

Drawdown Indicators

	PAGEX	PREIX	Difference
Max Drawdown Largest peak-to-trough decline	-43.69%	-55.32%	+11.63%
Max Drawdown (1Y) Largest decline over 1 year	-10.46%	-8.93%	-1.53%
Max Drawdown (3Y) Largest decline over 3 years	-19.62%	-18.78%	-0.84%
Max Drawdown (5Y) Largest decline over 5 years	-33.25%	-24.60%	-8.65%
Max Drawdown (10Y) Largest decline over 10 years	-38.63%	-33.81%	-4.82%
Current Drawdown Current decline from peak	-2.92%	-2.13%	-0.79%
Average Drawdown Average peak-to-trough decline	-8.79%	-8.69%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	2.08%	+0.91%

Volatility

PAGEX vs. PREIX - Volatility Comparison

T. Rowe Price Global Real Estate Fund (PAGEX) and T. Rowe Price Equity Index 500 Fund (PREIX) have volatilities of 3.41% and 3.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAGEX	PREIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	3.44%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	9.78%	10.10%	-0.32%
Volatility (1Y) Calculated over the trailing 1-year period	12.06%	12.86%	-0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	17.11%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.12%	18.11%	-0.99%

PAGEX vs. PREIX - Expense Ratio Comparison

PAGEX has a 1.15% expense ratio, which is higher than PREIX's 0.15% expense ratio.

Dividends

PAGEX vs. PREIX - Dividend Comparison

PAGEX's dividend yield for the trailing twelve months is around 2.14%, which matches PREIX's 2.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAGEX T. Rowe Price Global Real Estate Fund	2.14%	2.27%	2.21%	2.25%	6.07%	7.69%	2.80%	12.00%	6.14%	2.80%	2.97%	2.34%
PREIX T. Rowe Price Equity Index 500 Fund	2.16%	2.32%	1.17%	1.32%	1.50%	1.56%	1.97%	2.13%	2.60%	1.30%	2.03%	2.02%

Frequently Asked Questions

Can I hold both PAGEX and PREIX in my portfolio?

PAGEX and PREIX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAGEX or PREIX?

PREIX has higher volatility (3.44%) compared to PAGEX (3.41%). In terms of maximum drawdown, PAGEX dropped -43.69% vs PREIX's -55.32%.

Which has better risk-adjusted returns?

PREIX currently has the higher Sharpe Ratio (1.41 vs 1.29), 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.