PJEZX vs. TAREX
PJEZX (PGIM US Real Estate Fund) and TAREX (Third Avenue Real Estate Value Fund) are both REIT funds. Over the past 10 years, PJEZX returned 8.76%/yr vs 4.10%/yr for TAREX. Their 0.69 correlation means they have sometimes moved together and sometimes differently. PJEZX charges 1.00%/yr vs 1.15%/yr for TAREX.
Performance
PJEZX vs. TAREX - Performance Comparison
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Returns By Period
In the year-to-date period, PJEZX achieves a 21.10% return, which is significantly higher than TAREX's -3.97% return. Over the past 10 years, PJEZX has outperformed TAREX with an annualized return of 8.76%, while TAREX has yielded a comparatively lower 4.10% annualized return.
PJEZX
- 1D
- -0.91%
- 1M
- 0.56%
- 6M
- 18.63%
- YTD
- 21.10%
- 1Y
- 25.50%
- 3Y*
- 13.51%
- 5Y*
- 5.94%
- 10Y*
- 8.76%
- ALL TIME*
- 9.95%
TAREX
- 1D
- -0.80%
- 1M
- 0.21%
- 6M
- -5.28%
- YTD
- -3.97%
- 1Y
- 0.46%
- 3Y*
- 10.43%
- 5Y*
- 3.70%
- 10Y*
- 4.10%
- ALL TIME*
- 8.33%
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 |
PJEZX vs. TAREX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PJEZX PGIM US Real Estate Fund | 21.10% | 2.49% | 13.08% | 15.85% | -27.26% | 48.32% | -4.86% | 44.30% | -3.54% | 5.60% |
TAREX Third Avenue Real Estate Value Fund | -3.97% | 12.52% | 13.54% | 23.48% | -26.53% | 30.69% | -8.23% | 21.09% | -19.98% | 16.10% |
Correlation
The correlation between PJEZX and TAREX is 0.57, 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. | 0.57 |
Correlation (3Y) Balances recent behavior with more history. | 0.62 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.71 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Dec 21, 2010 | 0.69 |
The correlation between PJEZX and TAREX shifts across timeframes, from 0.57 (1 year) to 0.71 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PJEZX vs. TAREX — Risk / Return Rank
PJEZX
TAREX
PJEZX vs. TAREX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM US Real Estate Fund (PJEZX) and Third Avenue Real Estate Value Fund (TAREX). 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.
| PJEZX | TAREX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.70 | ||
| Sortino ratioReturn per unit of downside risk | +2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.03 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 0.09 | +3.33 |
| Martin ratioReturn relative to average drawdown | 10.55 | 0.20 | +10.35 |
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Drawdowns
PJEZX vs. TAREX - Drawdown Comparison
The maximum PJEZX drawdown since its inception was -43.43%, smaller than the maximum TAREX drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for PJEZX and TAREX.
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Drawdown Indicators
| PJEZX | TAREX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.43% | -67.68% | +24.25% |
Max Drawdown (1Y)Largest decline over 1 year | -7.32% | -15.81% | +8.49% |
Max Drawdown (3Y)Largest decline over 3 years | -19.19% | -19.88% | +0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -34.60% | -31.89% | -2.71% |
Max Drawdown (10Y)Largest decline over 10 years | -43.43% | -44.73% | +1.30% |
Current DrawdownCurrent decline from peak | -3.28% | -8.00% | +4.72% |
Average DrawdownAverage peak-to-trough decline | -8.04% | -11.16% | +3.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 6.79% | -4.42% |
Volatility
PJEZX vs. TAREX - Volatility Comparison
PGIM US Real Estate Fund (PJEZX) has a higher volatility of 4.79% compared to Third Avenue Real Estate Value Fund (TAREX) at 4.55%. This indicates that PJEZX's price experiences larger fluctuations and is considered to be riskier than TAREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PJEZX | TAREX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.79% | 4.55% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 11.04% | 12.41% | -1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.15% | 15.62% | -1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 18.39% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 18.69% | +2.51% |
PJEZX vs. TAREX - Expense Ratio Comparison
PJEZX has a 1.00% expense ratio, which is lower than TAREX's 1.15% expense ratio.
Dividends
PJEZX vs. TAREX - Dividend Comparison
PJEZX's dividend yield for the trailing twelve months is around 1.56%, less than TAREX's 5.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PJEZX PGIM US Real Estate Fund | 1.56% | 2.05% | 1.93% | 1.65% | 3.21% | 9.54% | 1.56% | 13.21% | 5.43% | 6.31% | 15.48% | 9.39% |
TAREX Third Avenue Real Estate Value Fund | 5.92% | 5.68% | 6.59% | 5.28% | 8.76% | 9.03% | 0.99% | 18.22% | 11.07% | 1.06% | 1.80% | 5.60% |
Frequently Asked Questions
PJEZX and TAREX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PJEZX has higher volatility (4.79%) compared to TAREX (4.55%). In terms of maximum drawdown, PJEZX dropped -43.43% vs TAREX's -67.68%.
PJEZX currently has the higher Sharpe Ratio (1.78 vs 0.09), 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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