PHRAX vs. CREEX
PHRAX (Virtus Duff & Phelps Real Estate Securities Fund) and CREEX (Columbia Real Estate Equity Fund) are both REIT funds. Over the past 10 years, PHRAX returned 6.27%/yr vs 6.02%/yr for CREEX. With a 0.97 correlation, they move nearly in lockstep. PHRAX charges 1.36%/yr vs 1.01%/yr for CREEX.
Performance
PHRAX vs. CREEX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with PHRAX having a 21.45% return and CREEX slightly higher at 21.85%. Both investments have delivered pretty close results over the past 10 years, with PHRAX having a 6.27% annualized return and CREEX not far behind at 6.02%.
PHRAX
- 1D
- 2.49%
- 1M
- 6.85%
- 6M
- 16.79%
- YTD
- 21.45%
- 1Y
- 21.99%
- 3Y*
- 11.61%
- 5Y*
- 4.73%
- 10Y*
- 6.27%
CREEX
- 1D
- 2.59%
- 1M
- 7.20%
- 6M
- 16.95%
- YTD
- 21.85%
- 1Y
- 23.92%
- 3Y*
- 11.17%
- 5Y*
- 5.30%
- 10Y*
- 6.02%
PHRAX vs. CREEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHRAX Virtus Duff & Phelps Real Estate Securities Fund | 21.45% | 0.23% | 10.15% | 10.98% | -26.33% | 46.79% | -1.98% | 27.09% | -7.41% | 5.65% |
CREEX Columbia Real Estate Equity Fund | 21.85% | 0.19% | 7.40% | 16.20% | -25.10% | 41.91% | -3.54% | 28.40% | -7.21% | 4.56% |
Correlation
The correlation between PHRAX and CREEX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 1995 | 0.97 |
The correlation between PHRAX and CREEX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
PHRAX vs. CREEX — Risk / Return Rank
PHRAX
CREEX
PHRAX vs. CREEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Duff & Phelps Real Estate Securities Fund (PHRAX) and Columbia Real Estate Equity Fund (CREEX). 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.
| PHRAX | CREEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.29 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 2.99 | -0.21 |
| Martin ratioReturn relative to average drawdown | 8.34 | 9.36 | -1.02 |
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Drawdowns
PHRAX vs. CREEX - Drawdown Comparison
The maximum PHRAX drawdown since its inception was -72.56%, roughly equal to the maximum CREEX drawdown of -70.78%. Use the drawdown chart below to compare losses from any high point for PHRAX and CREEX.
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Drawdown Indicators
| PHRAX | CREEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.56% | -70.78% | -1.78% |
Max Drawdown (1Y)Largest decline over 1 year | -7.83% | -7.94% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -19.09% | -19.89% | +0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -33.51% | -31.25% | -2.26% |
Max Drawdown (10Y)Largest decline over 10 years | -42.00% | -41.42% | -0.58% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -11.33% | -10.68% | -0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 2.54% | +0.07% |
Volatility
PHRAX vs. CREEX - Volatility Comparison
Virtus Duff & Phelps Real Estate Securities Fund (PHRAX) and Columbia Real Estate Equity Fund (CREEX) have volatilities of 5.23% and 5.28%, 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.
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Volatility by Period
| PHRAX | CREEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.23% | 5.28% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 10.81% | 10.84% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.94% | 14.34% | -0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.16% | 19.12% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.02% | 20.71% | +0.31% |
PHRAX vs. CREEX - Expense Ratio Comparison
PHRAX has a 1.36% expense ratio, which is higher than CREEX's 1.01% expense ratio.
Dividends
PHRAX vs. CREEX - Dividend Comparison
PHRAX's dividend yield for the trailing twelve months is around 4.82%, less than CREEX's 5.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CREEX Columbia Real Estate Equity Fund | 5.50% | 6.26% | 10.13% | 32.32% | 5.92% | 6.41% | 7.50% | 12.02% | 8.22% | 14.73% | 4.23% | 8.59% |
PHRAX Virtus Duff & Phelps Real Estate Securities Fund | 4.82% | 5.93% | 8.39% | 12.35% | 11.12% | 4.45% | 5.58% | 21.34% | 19.03% | 18.54% | 21.22% | 20.04% |
Frequently Asked Questions
With a correlation of 0.98, PHRAX and CREEX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
CREEX has higher volatility (5.28%) compared to PHRAX (5.23%). In terms of maximum drawdown, PHRAX dropped -72.56% vs CREEX's -70.78%.
CREEX currently has the higher Sharpe Ratio (1.66 vs 1.57), 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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