QCGLIX vs. QREARX

Last updated Apr 1, 2026

Compare and contrast key facts about CREF Global Equities Account - R3 (QCGLIX) and TIAA Real Estate Account (QREARX).

QCGLIX is a passively managed fund by TIAA that tracks the performance of the MSCI ACWI NR USD. It was launched on Apr 24, 2015. QREARX is an actively managed fund by TIAA. It was launched on Oct 2, 1995.

Performance

QCGLIX vs. QREARX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CREF Global Equities Account - R3 (QCGLIX) and TIAA Real Estate Account (QREARX). The values are adjusted to include any dividend payments, if applicable.

QCGLIX vs. QREARX - Yearly Performance Comparison

	2026 (YTD)	2025
QCGLIX CREF Global Equities Account - R3	-5.39%	20.63%
QREARX TIAA Real Estate Account	0.80%	3.93%

Returns By Period

In the year-to-date period, QCGLIX achieves a -5.39% return, which is significantly lower than QREARX's 0.80% return.

QCGLIX

• 1D: -0.37%
• 1M: -9.45%
• YTD: -5.39%
• 6M: -1.83%
• 1Y: 18.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QREARX

• 1D: -0.10%
• 1M: 0.41%
• YTD: 0.80%
• 6M: 1.81%
• 1Y: 3.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QCGLIX vs. QREARX - Expense Ratio Comparison

QCGLIX has a 0.24% expense ratio, which is lower than QREARX's 0.90% expense ratio.

QREARX

TIAA Real Estate Account

QCGLIX

CREF Global Equities Account - R3

Return for Risk

QCGLIX vs. QREARX — Risk / Return Rank

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

QCGLIX

QCGLIX Risk / Return Rank: 59
QCGLIX Sharpe Ratio Rank: 65
QCGLIX Sortino Ratio Rank: 63
QCGLIX Omega Ratio Rank: 59
QCGLIX Calmar Ratio Rank: 50
QCGLIX Martin Ratio Rank: 58

QREARX

QREARX Risk / Return Rank: 99
QREARX Sharpe Ratio Rank: 100
QREARX Sortino Ratio Rank: 99
QREARX Omega Ratio Rank: 99
QREARX Calmar Ratio Rank: 99
QREARX Martin Ratio Rank: 99

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.

QCGLIX vs. QREARX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CREF Global Equities Account - R3 (QCGLIX) and TIAA Real Estate Account (QREARX). 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.

	QCGLIX	QREARX	Difference
Sharpe ratio Return per unit of total volatility	1.18	5.14	-3.96
Sortino ratio Return per unit of downside risk	1.64	8.23	-6.59
Omega ratio Gain probability vs. loss probability	1.24	2.91	-1.68
Calmar ratio Return relative to maximum drawdown	1.25	10.77	-9.53
Martin ratio Return relative to average drawdown	5.62	45.72	-40.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QCGLIX vs. QREARX - Sharpe Ratio Comparison

The current QCGLIX Sharpe Ratio is 1.18, which is lower than the QREARX Sharpe Ratio of 5.14. The chart below compares the historical Sharpe Ratios of QCGLIX and QREARX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QCGLIX	QREARX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	5.14	-3.96
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	2.23	-1.53

Correlation

The correlation between QCGLIX and QREARX is -0.03. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

QCGLIX vs. QREARX - Dividend Comparison

Neither QCGLIX nor QREARX has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

QCGLIX vs. QREARX - Drawdown Comparison

The maximum QCGLIX drawdown since its inception was -18.15%, which is greater than QREARX's maximum drawdown of -1.45%. Use the drawdown chart below to compare losses from any high point for QCGLIX and QREARX.

Drawdown Indicators

	QCGLIX	QREARX	Difference
Max Drawdown Largest peak-to-trough decline	-18.15%	-1.45%	-16.70%
Max Drawdown (1Y) Largest decline over 1 year	-12.13%	-0.37%	-11.76%
Current Drawdown Current decline from peak	-10.29%	-0.10%	-10.19%
Average Drawdown Average peak-to-trough decline	-2.35%	-0.05%	-2.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	0.09%	+2.76%

Volatility

QCGLIX vs. QREARX - Volatility Comparison

CREF Global Equities Account - R3 (QCGLIX) has a higher volatility of 5.61% compared to TIAA Real Estate Account (QREARX) at 0.23%. This indicates that QCGLIX's price experiences larger fluctuations and is considered to be riskier than QREARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QCGLIX	QREARX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.61%	0.23%	+5.38%
Volatility (6M) Calculated over the trailing 6-month period	10.11%	0.49%	+9.62%
Volatility (1Y) Calculated over the trailing 1-year period	15.74%	0.75%	+14.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.83%	1.75%	+14.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.83%	1.75%	+14.08%