PGZ vs. REZ
PGZ (Principal Real Estate Income Fund) is a stock, while REZ (iShares Residential Real Estate ETF) is REIT fund tracking the FTSE NAREIT All Residential Capped Index. Over the past 10 years, PGZ returned 4.01%/yr vs 7.05%/yr for REZ. At a 0.43 correlation, their price movements are largely independent.
Performance
PGZ vs. REZ - Performance Comparison
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Returns By Period
In the year-to-date period, PGZ achieves a 6.74% return, which is significantly lower than REZ's 12.29% return. Over the past 10 years, PGZ has underperformed REZ with an annualized return of 4.01%, while REZ has yielded a comparatively higher 7.05% annualized return.
PGZ
- 1D
- -0.03%
- 1M
- 3.28%
- YTD
- 6.74%
- 6M
- 7.55%
- 1Y
- 8.40%
- 3Y*
- 15.84%
- 5Y*
- 2.17%
- 10Y*
- 4.01%
REZ
- 1D
- 0.89%
- 1M
- 0.88%
- YTD
- 12.29%
- 6M
- 12.93%
- 1Y
- 13.92%
- 3Y*
- 10.92%
- 5Y*
- 4.39%
- 10Y*
- 7.05%
PGZ vs. REZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGZ Principal Real Estate Income Fund | 6.74% | 14.50% | 17.99% | 4.05% | -27.98% | 38.70% | -36.50% | 36.77% | 3.92% | 18.23% |
REZ iShares Residential Real Estate ETF | 12.29% | 4.80% | 12.73% | 10.97% | -28.31% | 47.86% | -6.62% | 24.49% | 3.89% | 3.87% |
Correlation
The correlation between PGZ and REZ is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2013 | 0.43 |
The correlation between PGZ and REZ shifts across timeframes, from 0.40 (1 year) to 0.51 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PGZ vs. REZ — Risk / Return Rank
PGZ
REZ
PGZ vs. REZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Real Estate Income Fund (PGZ) and iShares Residential Real Estate ETF (REZ). 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.
| PGZ | REZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.17 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 1.60 | -0.74 |
| Martin ratioReturn relative to average drawdown | 3.22 | 4.86 | -1.64 |
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Drawdowns
PGZ vs. REZ - Drawdown Comparison
The maximum PGZ drawdown since its inception was -53.58%, smaller than the maximum REZ drawdown of -66.87%. Use the drawdown chart below to compare losses from any high point for PGZ and REZ.
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Drawdown Indicators
| PGZ | REZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.58% | -66.87% | +13.29% |
Max Drawdown (1Y)Largest decline over 1 year | -9.82% | -8.76% | -1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -10.56% | -18.39% | +7.83% |
Max Drawdown (5Y)Largest decline over 5 years | -35.34% | -35.05% | -0.29% |
Max Drawdown (10Y)Largest decline over 10 years | -53.58% | -44.15% | -9.43% |
Current DrawdownCurrent decline from peak | -9.07% | 0.00% | -9.07% |
Average DrawdownAverage peak-to-trough decline | -16.12% | -12.67% | -3.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 2.87% | -0.26% |
Volatility
PGZ vs. REZ - Volatility Comparison
The current volatility for Principal Real Estate Income Fund (PGZ) is 3.05%, while iShares Residential Real Estate ETF (REZ) has a volatility of 5.69%. This indicates that PGZ experiences smaller price fluctuations and is considered to be less risky than REZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGZ | REZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 5.69% | -2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 8.85% | 11.14% | -2.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.27% | 14.73% | -4.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.94% | 18.97% | -4.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.80% | 21.55% | +0.25% |
Dividends
PGZ vs. REZ - Dividend Comparison
PGZ's dividend yield for the trailing twelve months is around 12.42%, more than REZ's 2.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGZ Principal Real Estate Income Fund | 12.42% | 12.59% | 12.75% | 13.33% | 11.86% | 6.32% | 10.34% | 6.25% | 7.98% | 9.51% | 10.90% | 10.40% |
REZ iShares Residential Real Estate ETF | 2.05% | 2.74% | 2.26% | 2.94% | 3.37% | 1.81% | 3.17% | 2.90% | 3.63% | 3.57% | 5.55% | 3.18% |
Frequently Asked Questions
PGZ and REZ have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REZ has higher volatility (5.69%) compared to PGZ (3.05%). In terms of maximum drawdown, PGZ dropped -53.58% vs REZ's -66.87%.
REZ currently has the higher Sharpe Ratio (0.95 vs 0.82), 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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