PRAFX vs. MEGI

Last updated Jun 4, 2026

PRAFX (T. Rowe Price Real Assets Fund) and MEGI (NYLI CBRE Global Infrastructure Megatrends Term Fund) are both Global Equities funds. Over the past 3 years, PRAFX returned 17.19%/yr vs 14.11%/yr for MEGI. A 0.55 correlation means they provide meaningful diversification when combined. PRAFX charges 0.92%/yr vs 0.02%/yr for MEGI.

Performance

PRAFX vs. MEGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Real Assets Fund (PRAFX) and NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRAFX achieves a 15.05% return, which is significantly higher than MEGI's 13.94% return.

PRAFX

• 1D: 1.45%
• 1M: 1.70%
• YTD: 15.05%
• 6M: 17.16%
• 1Y: 38.09%
• 3Y*: 17.19%
• 5Y*: 8.26%
• 10Y*: 9.05%

MEGI

• 1D: -1.05%
• 1M: -1.79%
• YTD: 13.94%
• 6M: 13.59%
• 1Y: 17.03%
• 3Y*: 14.11%
• 5Y*: —
• 10Y*: —

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

PRAFX vs. MEGI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PRAFX T. Rowe Price Real Assets Fund	15.05%	29.51%	0.32%	6.65%	-10.24%	3.05%
MEGI NYLI CBRE Global Infrastructure Megatrends Term Fund	13.94%	26.19%	5.19%	5.52%	-23.32%	-3.50%

Correlation

The correlation between PRAFX and MEGI is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (All Time) Calculated using the full available price history since Oct 28, 2021	0.55

The correlation between PRAFX and MEGI has been stable across timeframes, ranging from 0.48 to 0.55 - a consistent structural relationship.

Return for Risk

PRAFX vs. MEGI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PRAFX

PRAFX Risk / Return Rank: 57
PRAFX Sharpe Ratio Rank: 65
PRAFX Sortino Ratio Rank: 48
PRAFX Omega Ratio Rank: 58
PRAFX Calmar Ratio Rank: 59
PRAFX Martin Ratio Rank: 54

MEGI

MEGI Risk / Return Rank: 19
MEGI Sharpe Ratio Rank: 18
MEGI Sortino Ratio Rank: 19
MEGI Omega Ratio Rank: 18
MEGI Calmar Ratio Rank: 24
MEGI Martin Ratio Rank: 16

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PRAFX vs. MEGI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Real Assets Fund (PRAFX) and NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI). 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.

	PRAFX	MEGI	Difference
Sharpe ratio: Return per unit of total volatility	2.37	1.22	+1.15
Sortino ratio: Return per unit of downside risk	2.91	1.81	+1.10
Omega ratio: Gain probability vs. loss probability	1.42	1.22	+0.20
Calmar ratio: Return relative to maximum drawdown	2.96	1.80	+1.16
Martin ratio: Return relative to average drawdown	10.93	4.46	+6.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRAFX vs. MEGI - Sharpe Ratio Comparison

The current PRAFX Sharpe Ratio is 2.37, which is higher than the MEGI Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of PRAFX and MEGI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PRAFX	MEGI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	1.22	+1.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.19	+0.18

Drawdowns

PRAFX vs. MEGI - Drawdown Comparison

The maximum PRAFX drawdown since its inception was -38.05%, roughly equal to the maximum MEGI drawdown of -39.48%. Use the drawdown chart below to compare losses from any high point for PRAFX and MEGI.

Drawdown Indicators

	PRAFX	MEGI	Difference
Max Drawdown Largest peak-to-trough decline	-38.05%	-39.48%	+1.43%
Max Drawdown (1Y) Largest decline over 1 year	-12.91%	-9.52%	-3.39%
Max Drawdown (3Y) Largest decline over 3 years	-16.86%	-22.53%	+5.67%
Max Drawdown (5Y) Largest decline over 5 years	-26.73%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.05%	—	—
Current Drawdown Current decline from peak	-3.83%	-2.64%	-1.19%
Average Drawdown Average peak-to-trough decline	-8.77%	-14.65%	+5.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	3.83%	-0.35%

Volatility

PRAFX vs. MEGI - Volatility Comparison

T. Rowe Price Real Assets Fund (PRAFX) has a higher volatility of 4.87% compared to NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI) at 3.89%. This indicates that PRAFX's price experiences larger fluctuations and is considered to be riskier than MEGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRAFX	MEGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	3.89%	+0.98%
Volatility (6M) Calculated over the trailing 6-month period	13.29%	10.31%	+2.98%
Volatility (1Y) Calculated over the trailing 1-year period	16.19%	14.06%	+2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.70%	19.87%	-2.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.14%	19.87%	-1.73%

PRAFX vs. MEGI - Expense Ratio Comparison

PRAFX has a 0.92% expense ratio, which is higher than MEGI's 0.02% expense ratio.

Dividends

PRAFX vs. MEGI - Dividend Comparison

PRAFX's dividend yield for the trailing twelve months is around 2.56%, less than MEGI's 9.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MEGI NYLI CBRE Global Infrastructure Megatrends Term Fund	9.98%	10.90%	12.33%	10.66%	9.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PRAFX T. Rowe Price Real Assets Fund	2.56%	2.94%	1.56%	1.52%	1.38%	1.83%	1.37%	2.64%	2.58%	1.45%	1.96%	1.88%

Frequently Asked Questions

Can I hold both PRAFX and MEGI in my portfolio?

PRAFX and MEGI 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.

Which is riskier, PRAFX or MEGI?

PRAFX has higher volatility (4.87%) compared to MEGI (3.89%). In terms of maximum drawdown, PRAFX dropped -38.05% vs MEGI's -39.48%.

Which has better risk-adjusted returns?

PRAFX currently has the higher Sharpe Ratio (2.37 vs 1.22), 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.