REIPX vs. IVRSX

Last updated Jun 24, 2026

REIPX (T. Rowe Price Real Estate Fund Class I) and IVRSX (VY CBRE Real Estate Portfolio) are both REIT funds. Over the past 10 years, REIPX returned 12.36%/yr vs 5.41%/yr for IVRSX. A 0.59 correlation means they provide meaningful diversification when combined. REIPX charges 0.65%/yr vs 0.93%/yr for IVRSX.

Performance

REIPX vs. IVRSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Real Estate Fund Class I (REIPX) and VY CBRE Real Estate Portfolio (IVRSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, REIPX achieves a 13.66% return, which is significantly lower than IVRSX's 15.96% return. Over the past 10 years, REIPX has outperformed IVRSX with an annualized return of 12.36%, while IVRSX has yielded a comparatively lower 5.41% annualized return.

REIPX

• 1D: 0.11%
• 1M: 1.49%
• YTD: 13.66%
• 6M: 13.30%
• 1Y: 24.53%
• 3Y*: 17.14%
• 5Y*: 10.70%
• 10Y*: 12.36%

IVRSX

• 1D: 1.28%
• 1M: 0.54%
• YTD: 15.96%
• 6M: 16.29%
• 1Y: 15.63%
• 3Y*: 11.12%
• 5Y*: 3.88%
• 10Y*: 5.41%

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

REIPX vs. IVRSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
REIPX T. Rowe Price Real Estate Fund Class I	13.66%	14.74%	11.96%	9.84%	-3.09%	25.70%	1.40%	33.77%	-9.20%	15.57%
IVRSX VY CBRE Real Estate Portfolio	15.96%	-0.01%	4.32%	14.11%	-27.22%	51.91%	-6.66%	28.15%	-10.29%	5.20%

Correlation

The correlation between REIPX and IVRSX is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.59

The correlation between REIPX and IVRSX shifts across timeframes, from 0.56 (1 year) to 0.66 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

REIPX vs. IVRSX — Risk / Return Rank

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

REIPX

REIPX Risk / Return Rank: 74
REIPX Sharpe Ratio Rank: 75
REIPX Sortino Ratio Rank: 76
REIPX Omega Ratio Rank: 68
REIPX Calmar Ratio Rank: 81
REIPX Martin Ratio Rank: 73

IVRSX

IVRSX Risk / Return Rank: 30
IVRSX Sharpe Ratio Rank: 25
IVRSX Sortino Ratio Rank: 22
IVRSX Omega Ratio Rank: 23
IVRSX Calmar Ratio Rank: 44
IVRSX Martin Ratio Rank: 36

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.

REIPX vs. IVRSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Real Estate Fund Class I (REIPX) and VY CBRE Real Estate Portfolio (IVRSX). 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.

	REIPX	IVRSX	Difference
Sharpe ratio: Return per unit of total volatility	2.32	1.32	+1.00
Sortino ratio: Return per unit of downside risk	3.34	1.83	+1.51
Omega ratio: Gain probability vs. loss probability	1.42	1.23	+0.19
Calmar ratio: Return relative to maximum drawdown	3.49	2.42	+1.08
Martin ratio: Return relative to average drawdown	12.98	7.47	+5.52

REIPX vs. IVRSX - Sharpe Ratio Comparison

The current REIPX Sharpe Ratio is 2.32, which is higher than the IVRSX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of REIPX and IVRSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

REIPX vs. IVRSX - Drawdown Comparison

The maximum REIPX drawdown since its inception was -39.69%, smaller than the maximum IVRSX drawdown of -73.77%. Use the drawdown chart below to compare losses from any high point for REIPX and IVRSX.

Drawdown Indicators

	REIPX	IVRSX	Difference
Max Drawdown Largest peak-to-trough decline	-39.69%	-73.77%	+34.08%
Max Drawdown (1Y) Largest decline over 1 year	-7.31%	-7.74%	+0.43%
Max Drawdown (3Y) Largest decline over 3 years	-14.32%	-19.29%	+4.97%
Max Drawdown (5Y) Largest decline over 5 years	-18.02%	-34.51%	+16.49%
Max Drawdown (10Y) Largest decline over 10 years	-39.69%	-45.19%	+5.50%
Current Drawdown Current decline from peak	-0.55%	-1.25%	+0.70%
Average Drawdown Average peak-to-trough decline	-4.39%	-11.91%	+7.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	2.44%	-0.48%

Volatility

REIPX vs. IVRSX - Volatility Comparison

The current volatility for T. Rowe Price Real Estate Fund Class I (REIPX) is 3.60%, while VY CBRE Real Estate Portfolio (IVRSX) has a volatility of 5.04%. This indicates that REIPX experiences smaller price fluctuations and is considered to be less risky than IVRSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	REIPX	IVRSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	5.04%	-1.44%
Volatility (6M) Calculated over the trailing 6-month period	8.39%	10.21%	-1.82%
Volatility (1Y) Calculated over the trailing 1-year period	11.02%	14.18%	-3.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.91%	19.67%	-4.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.85%	21.58%	-3.73%

REIPX vs. IVRSX - Expense Ratio Comparison

REIPX has a 0.65% expense ratio, which is lower than IVRSX's 0.93% expense ratio.

Dividends

REIPX vs. IVRSX - Dividend Comparison

REIPX's dividend yield for the trailing twelve months is around 2.50%, less than IVRSX's 4.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVRSX VY CBRE Real Estate Portfolio	4.24%	2.74%	2.50%	8.77%	26.34%	1.46%	13.92%	2.44%	11.42%	2.07%	1.57%	1.31%
REIPX T. Rowe Price Real Estate Fund Class I	2.50%	2.87%	9.05%	6.30%	6.86%	8.89%	3.65%	12.62%	11.53%	9.03%	7.88%	0.00%

Frequently Asked Questions

Can I hold both REIPX and IVRSX in my portfolio?

REIPX and IVRSX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, REIPX or IVRSX?

IVRSX has higher volatility (5.04%) compared to REIPX (3.60%). In terms of maximum drawdown, REIPX dropped -39.69% vs IVRSX's -73.77%.

Which has better risk-adjusted returns?

REIPX currently has the higher Sharpe Ratio (2.32 vs 1.32), 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.