RPFRX vs. VFIAX

Last updated Jul 15, 2026

RPFRX (Davis Real Estate Fund) and VFIAX (Vanguard 500 Index Fund Admiral Shares) are both mutual funds - RPFRX is a REIT fund managed by Davis Funds, while VFIAX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, RPFRX returned 3.60%/yr vs 15.13%/yr for VFIAX. A 0.63 correlation means they provide meaningful diversification when combined. RPFRX charges 0.95%/yr vs 0.04%/yr for VFIAX.

Performance

RPFRX vs. VFIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Davis Real Estate Fund (RPFRX) and Vanguard 500 Index Fund Admiral Shares (VFIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RPFRX achieves a 13.38% return, which is significantly higher than VFIAX's 10.45% return. Over the past 10 years, RPFRX has underperformed VFIAX with an annualized return of 3.60%, while VFIAX has yielded a comparatively higher 15.13% annualized return.

RPFRX

• 1D: 0.41%
• 1M: 0.44%
• 6M: 11.75%
• YTD: 13.38%
• 1Y: 7.70%
• 3Y*: 4.30%
• 5Y*: -0.10%
• 10Y*: 3.60%

VFIAX

• 1D: -0.79%
• 1M: 1.21%
• 6M: 8.53%
• YTD: 10.45%
• 1Y: 21.28%
• 3Y*: 20.15%
• 5Y*: 12.99%
• 10Y*: 15.13%

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

RPFRX vs. VFIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RPFRX Davis Real Estate Fund	13.38%	-6.17%	2.30%	10.48%	-26.78%	43.26%	-8.25%	25.39%	-4.52%	8.32%
VFIAX Vanguard 500 Index Fund Admiral Shares	10.45%	17.83%	24.97%	26.24%	-18.16%	28.65%	18.32%	31.46%	-4.45%	21.78%

Correlation

The correlation between RPFRX and VFIAX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Nov 13, 2000	0.63

Over the past year, the correlation between RPFRX and VFIAX has dropped to 0.31 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.

Return for Risk

RPFRX vs. VFIAX — Risk / Return Rank

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

RPFRX

RPFRX Risk / Return Rank: 10
RPFRX Sharpe Ratio Rank: 10
RPFRX Sortino Ratio Rank: 10
RPFRX Omega Ratio Rank: 9
RPFRX Calmar Ratio Rank: 12
RPFRX Martin Ratio Rank: 10

VFIAX

VFIAX Risk / Return Rank: 62
VFIAX Sharpe Ratio Rank: 60
VFIAX Sortino Ratio Rank: 56
VFIAX Omega Ratio Rank: 57
VFIAX Calmar Ratio Rank: 62
VFIAX Martin Ratio Rank: 74

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. VFIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Davis Real Estate Fund (RPFRX) and Vanguard 500 Index Fund Admiral Shares (VFIAX). 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	VFIAX	Difference
Sharpe ratio: Return per unit of total volatility	0.54	1.72	-1.18
Sortino ratio: Return per unit of downside risk	0.86	2.37	-1.51
Omega ratio: Gain probability vs. loss probability	1.10	1.31	-0.21
Calmar ratio: Return relative to maximum drawdown	0.80	2.42	-1.62
Martin ratio: Return relative to average drawdown	1.94	10.62	-8.68

RPFRX vs. VFIAX - Sharpe Ratio Comparison

The current RPFRX Sharpe Ratio is 0.54, which is lower than the VFIAX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of RPFRX and VFIAX, 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. VFIAX - Drawdown Comparison

The maximum RPFRX drawdown since its inception was -75.01%, which is greater than VFIAX's maximum drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for RPFRX and VFIAX.

Drawdown Indicators

	RPFRX	VFIAX	Difference
Max Drawdown Largest peak-to-trough decline	-75.01%	-55.20%	-19.81%
Max Drawdown (1Y) Largest decline over 1 year	-10.13%	-8.90%	-1.23%
Max Drawdown (3Y) Largest decline over 3 years	-22.20%	-18.75%	-3.45%
Max Drawdown (5Y) Largest decline over 5 years	-35.52%	-24.53%	-10.99%
Max Drawdown (10Y) Largest decline over 10 years	-42.29%	-33.83%	-8.46%
Current Drawdown Current decline from peak	-12.08%	-1.11%	-10.97%
Average Drawdown Average peak-to-trough decline	-13.40%	-9.37%	-4.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.18%	2.02%	+2.16%

Volatility

RPFRX vs. VFIAX - Volatility Comparison

Davis Real Estate Fund (RPFRX) has a higher volatility of 4.83% compared to Vanguard 500 Index Fund Admiral Shares (VFIAX) at 3.97%. This indicates that RPFRX's price experiences larger fluctuations and is considered to be riskier than VFIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPFRX	VFIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	3.97%	+0.86%
Volatility (6M) Calculated over the trailing 6-month period	11.09%	9.99%	+1.10%
Volatility (1Y) Calculated over the trailing 1-year period	15.00%	12.57%	+2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.55%	17.01%	+2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.16%	18.05%	+3.11%

RPFRX vs. VFIAX - Expense Ratio Comparison

RPFRX has a 0.95% expense ratio, which is higher than VFIAX's 0.04% expense ratio.

Dividends

RPFRX vs. VFIAX - Dividend Comparison

RPFRX's dividend yield for the trailing twelve months is around 6.51%, more than VFIAX's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RPFRX Davis Real Estate Fund	6.51%	6.48%	1.43%	2.26%	5.33%	1.05%	1.77%	2.78%	6.03%	5.84%	1.61%	1.19%
VFIAX Vanguard 500 Index Fund Admiral Shares	1.06%	1.12%	1.24%	1.45%	1.68%	1.24%	1.53%	1.87%	2.05%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both RPFRX and VFIAX in my portfolio?

RPFRX and VFIAX have a correlation of 0.31, 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 VFIAX?

RPFRX has higher volatility (4.83%) compared to VFIAX (3.97%). In terms of maximum drawdown, RPFRX dropped -75.01% vs VFIAX's -55.20%.

Which has better risk-adjusted returns?

VFIAX currently has the higher Sharpe Ratio (1.72 vs 0.54), 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.