REIFX vs. VGRNX
Compare and contrast key facts about Third Avenue International Real Estate Value Fund (REIFX) and Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares (VGRNX).
REIFX is managed by Third Avenue. It was launched on May 7, 2014. VGRNX is managed by Vanguard. It was launched on Apr 19, 2011.
Performance
REIFX vs. VGRNX - Performance Comparison
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REIFX vs. VGRNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REIFX Third Avenue International Real Estate Value Fund | -3.59% | 25.35% | -5.51% | 13.91% | -18.22% | 18.78% | 5.04% | 21.50% | -5.89% | 27.14% |
VGRNX Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares | -3.59% | 22.02% | -2.40% | 6.35% | -22.47% | 5.63% | -6.90% | 21.50% | -9.54% | 26.55% |
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with REIFX at -3.59% and VGRNX at -3.59%. Over the past 10 years, REIFX has outperformed VGRNX with an annualized return of 6.78%, while VGRNX has yielded a comparatively lower 2.44% annualized return.
REIFX
- 1D
- 1.36%
- 1M
- -10.70%
- YTD
- -3.59%
- 6M
- -4.56%
- 1Y
- 14.23%
- 3Y*
- 8.07%
- 5Y*
- 4.15%
- 10Y*
- 6.78%
VGRNX
- 1D
- 1.99%
- 1M
- -11.38%
- YTD
- -3.59%
- 6M
- -2.85%
- 1Y
- 13.92%
- 3Y*
- 7.61%
- 5Y*
- -0.64%
- 10Y*
- 2.44%
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REIFX vs. VGRNX - Expense Ratio Comparison
REIFX has a 1.00% expense ratio, which is higher than VGRNX's 0.11% expense ratio.
Return for Risk
REIFX vs. VGRNX — Risk / Return Rank
REIFX
VGRNX
REIFX vs. VGRNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Third Avenue International Real Estate Value Fund (REIFX) and Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares (VGRNX). 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.
| REIFX | VGRNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | 1.20 | -0.20 |
Sortino ratioReturn per unit of downside risk | 1.38 | 1.62 | -0.23 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.22 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 0.98 | 0.96 | +0.02 |
Martin ratioReturn relative to average drawdown | 4.05 | 4.29 | -0.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| REIFX | VGRNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 1.20 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | -0.05 | +0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.17 | +0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.22 | +0.20 |
Correlation
The correlation between REIFX and VGRNX is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
REIFX vs. VGRNX - Dividend Comparison
REIFX's dividend yield for the trailing twelve months is around 2.37%, less than VGRNX's 4.88% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
REIFX Third Avenue International Real Estate Value Fund | 2.37% | 2.28% | 2.37% | 2.63% | 1.98% | 2.22% | 3.74% | 1.40% | 11.92% | 2.80% | 0.90% | 3.00% |
VGRNX Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares | 4.88% | 4.71% | 5.21% | 3.76% | 0.58% | 6.50% | 0.94% | 7.81% | 4.64% | 3.87% | 5.19% | 2.86% |
Drawdowns
REIFX vs. VGRNX - Drawdown Comparison
The maximum REIFX drawdown since its inception was -37.61%, roughly equal to the maximum VGRNX drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for REIFX and VGRNX.
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Drawdown Indicators
| REIFX | VGRNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.61% | -38.77% | +1.16% |
Max Drawdown (1Y)Largest decline over 1 year | -14.06% | -14.35% | +0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -26.20% | -35.59% | +9.39% |
Max Drawdown (10Y)Largest decline over 10 years | -37.61% | -38.77% | +1.16% |
Current DrawdownCurrent decline from peak | -12.90% | -12.65% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -6.84% | -10.74% | +3.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 3.23% | +0.19% |
Volatility
REIFX vs. VGRNX - Volatility Comparison
Third Avenue International Real Estate Value Fund (REIFX) and Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares (VGRNX) have volatilities of 5.71% and 5.62%, 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
| REIFX | VGRNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.71% | 5.62% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 9.26% | 8.54% | +0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.74% | 12.33% | +1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.95% | 13.80% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.22% | 14.69% | -0.47% |