REIFX vs. CRARX
REIFX (Third Avenue International Real Estate Value Fund) and CRARX (MainStay CBRE Real Estate Fund) are both REIT funds. Over the past 10 years, REIFX returned 7.29%/yr vs 5.42%/yr for CRARX. At a 0.44 correlation, their price movements are largely independent. REIFX charges 1.00%/yr vs 0.83%/yr for CRARX.
Performance
REIFX vs. CRARX - Performance Comparison
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Returns By Period
In the year-to-date period, REIFX achieves a -2.73% return, which is significantly lower than CRARX's 16.77% return. Over the past 10 years, REIFX has outperformed CRARX with an annualized return of 7.29%, while CRARX has yielded a comparatively lower 5.42% annualized return.
REIFX
- 1D
- 0.74%
- 1M
- -1.24%
- YTD
- -2.73%
- 6M
- -3.00%
- 1Y
- 1.80%
- 3Y*
- 8.08%
- 5Y*
- 2.81%
- 10Y*
- 7.29%
CRARX
- 1D
- 0.00%
- 1M
- 0.68%
- YTD
- 16.77%
- 6M
- 16.43%
- 1Y
- 16.84%
- 3Y*
- 10.57%
- 5Y*
- 3.14%
- 10Y*
- 5.42%
REIFX vs. CRARX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REIFX Third Avenue International Real Estate Value Fund | -2.73% | 25.35% | -5.51% | 13.91% | -18.22% | 18.78% | 5.04% | 21.50% | -5.89% | 27.14% |
CRARX MainStay CBRE Real Estate Fund | 16.77% | -0.28% | 0.71% | 13.50% | -26.95% | 52.55% | -6.50% | 28.29% | -8.00% | 5.23% |
Correlation
The correlation between REIFX and CRARX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.44 |
The correlation between REIFX and CRARX shifts across timeframes, from 0.42 (1 year) to 0.56 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
REIFX vs. CRARX — Risk / Return Rank
REIFX
CRARX
REIFX vs. CRARX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Third Avenue International Real Estate Value Fund (REIFX) and MainStay CBRE Real Estate Fund (CRARX). 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.
| REIFX | CRARX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.18 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | 1.74 | -1.65 |
| Martin ratioReturn relative to average drawdown | 0.20 | 5.49 | -5.29 |
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Drawdowns
REIFX vs. CRARX - Drawdown Comparison
The maximum REIFX drawdown since its inception was -37.61%, smaller than the maximum CRARX drawdown of -72.66%. Use the drawdown chart below to compare losses from any high point for REIFX and CRARX.
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Drawdown Indicators
| REIFX | CRARX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.61% | -72.66% | +35.05% |
Max Drawdown (1Y)Largest decline over 1 year | -14.58% | -7.99% | -6.59% |
Max Drawdown (3Y)Largest decline over 3 years | -15.83% | -18.78% | +2.95% |
Max Drawdown (5Y)Largest decline over 5 years | -26.20% | -35.43% | +9.23% |
Max Drawdown (10Y)Largest decline over 10 years | -37.61% | -45.19% | +7.58% |
Current DrawdownCurrent decline from peak | -12.12% | -2.76% | -9.36% |
Average DrawdownAverage peak-to-trough decline | -6.90% | -12.55% | +5.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.00% | 2.57% | +3.43% |
Volatility
REIFX vs. CRARX - Volatility Comparison
The current volatility for Third Avenue International Real Estate Value Fund (REIFX) is 3.67%, while MainStay CBRE Real Estate Fund (CRARX) has a volatility of 5.09%. This indicates that REIFX experiences smaller price fluctuations and is considered to be less risky than CRARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REIFX | CRARX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.67% | 5.09% | -1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 10.84% | 10.09% | +0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.00% | 13.52% | -0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.18% | 19.02% | -4.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.22% | 21.32% | -7.10% |
REIFX vs. CRARX - Expense Ratio Comparison
REIFX has a 1.00% expense ratio, which is higher than CRARX's 0.83% expense ratio.
Dividends
REIFX vs. CRARX - Dividend Comparison
REIFX's dividend yield for the trailing twelve months is around 2.34%, more than CRARX's 2.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRARX MainStay CBRE Real Estate Fund | 2.15% | 2.57% | 1.80% | 3.36% | 34.64% | 4.37% | 1.77% | 15.57% | 30.33% | 21.82% | 8.85% | 7.27% |
REIFX Third Avenue International Real Estate Value Fund | 2.34% | 2.28% | 2.37% | 2.63% | 1.98% | 2.22% | 3.74% | 1.40% | 11.92% | 2.80% | 0.90% | 3.00% |
Frequently Asked Questions
REIFX and CRARX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CRARX has higher volatility (5.09%) compared to REIFX (3.67%). In terms of maximum drawdown, REIFX dropped -37.61% vs CRARX's -72.66%.
CRARX currently has the higher Sharpe Ratio (1.03 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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