RPFRX vs. RPFCX

Last updated Jun 23, 2026

RPFRX (Davis Real Estate Fund) and RPFCX (Davis Appreciation & Income Fund) are both mutual funds - RPFRX is a REIT fund managed by Davis Funds, while RPFCX is a Diversified Portfolio fund managed by Davis Funds. Over the past 10 years, RPFRX returned 3.91%/yr vs 10.68%/yr for RPFCX. A 0.64 correlation means they provide meaningful diversification when combined. RPFRX charges 0.95%/yr vs 1.00%/yr for RPFCX.

Performance

RPFRX vs. RPFCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Davis Real Estate Fund (RPFRX) and Davis Appreciation & Income Fund (RPFCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with RPFRX having a 10.11% return and RPFCX slightly lower at 9.77%. Over the past 10 years, RPFRX has underperformed RPFCX with an annualized return of 3.91%, while RPFCX has yielded a comparatively higher 10.68% annualized return.

RPFRX

• 1D: 0.55%
• 1M: 1.45%
• YTD: 10.11%
• 6M: 10.53%
• 1Y: 5.30%
• 3Y*: 4.64%
• 5Y*: 0.07%
• 10Y*: 3.91%

RPFCX

• 1D: 0.15%
• 1M: 0.92%
• YTD: 9.77%
• 6M: 9.45%
• 1Y: 24.42%
• 3Y*: 17.48%
• 5Y*: 9.55%
• 10Y*: 10.68%

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

RPFRX vs. RPFCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RPFRX Davis Real Estate Fund	10.11%	-6.17%	2.30%	10.48%	-26.78%	43.26%	-8.25%	25.39%	-4.52%	8.32%
RPFCX Davis Appreciation & Income Fund	9.77%	20.90%	9.10%	23.00%	-15.65%	25.74%	4.74%	20.33%	-8.02%	16.35%

Correlation

The correlation between RPFRX and RPFCX is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jan 3, 1994	0.64

The correlation between RPFRX and RPFCX shifts across timeframes, from 0.53 (10 years) to 0.64 (all time), reflecting how their relationship changes across market environments.

Return for Risk

RPFRX vs. RPFCX — Risk / Return Rank

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

RPFRX

RPFRX Risk / Return Rank: 6
RPFRX Sharpe Ratio Rank: 5
RPFRX Sortino Ratio Rank: 5
RPFRX Omega Ratio Rank: 5
RPFRX Calmar Ratio Rank: 6
RPFRX Martin Ratio Rank: 6

RPFCX

RPFCX Risk / Return Rank: 85
RPFCX Sharpe Ratio Rank: 90
RPFCX Sortino Ratio Rank: 89
RPFCX Omega Ratio Rank: 82
RPFCX Calmar Ratio Rank: 84
RPFCX Martin Ratio Rank: 82

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.

RPFRX vs. RPFCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Davis Real Estate Fund (RPFRX) and Davis Appreciation & Income Fund (RPFCX). 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.

	RPFRX	RPFCX	Difference
Sharpe ratio: Return per unit of total volatility	0.36	2.75	-2.38
Sortino ratio: Return per unit of downside risk	0.60	3.96	-3.36
Omega ratio: Gain probability vs. loss probability	1.07	1.50	-0.43
Calmar ratio: Return relative to maximum drawdown	0.53	3.70	-3.17
Martin ratio: Return relative to average drawdown	1.28	14.27	-12.99

RPFRX vs. RPFCX - Sharpe Ratio Comparison

The current RPFRX Sharpe Ratio is 0.36, which is lower than the RPFCX Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of RPFRX and RPFCX, 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

RPFRX vs. RPFCX - Drawdown Comparison

The maximum RPFRX drawdown since its inception was -75.01%, which is greater than RPFCX's maximum drawdown of -56.39%. Use the drawdown chart below to compare losses from any high point for RPFRX and RPFCX.

Drawdown Indicators

	RPFRX	RPFCX	Difference
Max Drawdown Largest peak-to-trough decline	-75.01%	-56.39%	-18.62%
Max Drawdown (1Y) Largest decline over 1 year	-10.13%	-6.76%	-3.37%
Max Drawdown (3Y) Largest decline over 3 years	-22.20%	-14.82%	-7.38%
Max Drawdown (5Y) Largest decline over 5 years	-35.52%	-25.63%	-9.89%
Max Drawdown (10Y) Largest decline over 10 years	-42.29%	-30.72%	-11.57%
Current Drawdown Current decline from peak	-14.62%	-0.72%	-13.90%
Average Drawdown Average peak-to-trough decline	-13.41%	-7.42%	-5.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	1.75%	+2.44%

Volatility

RPFRX vs. RPFCX - Volatility Comparison

Davis Real Estate Fund (RPFRX) has a higher volatility of 4.97% compared to Davis Appreciation & Income Fund (RPFCX) at 2.68%. This indicates that RPFRX's price experiences larger fluctuations and is considered to be riskier than RPFCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPFRX	RPFCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.97%	2.68%	+2.29%
Volatility (6M) Calculated over the trailing 6-month period	10.69%	6.80%	+3.89%
Volatility (1Y) Calculated over the trailing 1-year period	14.78%	9.13%	+5.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.55%	14.10%	+5.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.15%	14.78%	+6.37%

RPFRX vs. RPFCX - Expense Ratio Comparison

RPFRX has a 0.95% expense ratio, which is lower than RPFCX's 1.00% expense ratio.

Dividends

RPFRX vs. RPFCX - Dividend Comparison

RPFRX's dividend yield for the trailing twelve months is around 6.54%, more than RPFCX's 5.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RPFCX Davis Appreciation & Income Fund	5.88%	6.09%	1.11%	2.91%	2.63%	0.28%	0.78%	2.03%	1.09%	0.83%	1.09%	1.19%
RPFRX Davis Real Estate Fund	6.54%	6.48%	1.43%	2.26%	5.33%	1.05%	1.77%	2.78%	6.03%	5.84%	1.61%	1.19%

Frequently Asked Questions

Can I hold both RPFRX and RPFCX in my portfolio?

RPFRX and RPFCX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RPFRX or RPFCX?

RPFRX has higher volatility (4.97%) compared to RPFCX (2.68%). In terms of maximum drawdown, RPFRX dropped -75.01% vs RPFCX's -56.39%.

Which has better risk-adjusted returns?

RPFCX currently has the higher Sharpe Ratio (2.75 vs 0.36), 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.