RRRRX vs. AAAZX

Last updated Aug 1, 2026

RRRRX (DWS RREEF Real Estate Securities Fund) and AAAZX (DWS RREEF Real Assets Fund) are both mutual funds - RRRRX is a REIT fund managed by DWS, while AAAZX is a Global Allocation fund managed by DWS. Over the past 10 years, RRRRX returned 5.20%/yr vs 7.15%/yr for AAAZX. Their 0.69 correlation means they have sometimes moved together and sometimes differently. RRRRX charges 0.61%/yr vs 0.90%/yr for AAAZX.

Performance

RRRRX vs. AAAZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DWS RREEF Real Estate Securities Fund (RRRRX) and DWS RREEF Real Assets Fund (AAAZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RRRRX achieves a 16.60% return, which is significantly higher than AAAZX's 11.24% return. Over the past 10 years, RRRRX has underperformed AAAZX with an annualized return of 5.20%, while AAAZX has yielded a comparatively higher 7.15% annualized return.

RRRRX

• 1D: -1.25%
• 1M: 1.20%
• 6M: 14.48%
• YTD: 16.60%
• 1Y: 17.65%
• 3Y*: 9.25%
• 5Y*: 2.42%
• 10Y*: 5.20%
• ALL TIME*: 9.27%

AAAZX

• 1D: 0.38%
• 1M: 2.63%
• 6M: 3.32%
• YTD: 11.24%
• 1Y: 18.05%
• 3Y*: 10.37%
• 5Y*: 5.43%
• 10Y*: 7.15%
• ALL TIME*: 4.69%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AAAZX DWS RREEF Real Assets Fund	$0.00	$0.00	$0.00
RRRRX DWS RREEF Real Estate Securities Fund	$0.00	$0.00	$0.00

RRRRX vs. AAAZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RRRRX DWS RREEF Real Estate Securities Fund	16.60%	-0.72%	6.11%	12.35%	-27.32%	43.02%	-4.84%	29.66%	-3.21%	6.43%
AAAZX DWS RREEF Real Assets Fund	11.24%	13.14%	5.49%	2.64%	-9.57%	23.83%	3.91%	21.79%	-5.05%	14.97%

Correlation

The correlation between RRRRX and AAAZX is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.62
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (10Y) Provides a long-term view across more market conditions.	0.74
Correlation (All Time) Calculated using the full available price history since Jul 31, 2007	0.69

The correlation between RRRRX and AAAZX shifts across timeframes, from 0.62 (1 year) to 0.77 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

RRRRX vs. AAAZX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RRRRX

RRRRX Risk / Return Rank: 42
RRRRX Sharpe Ratio Rank: 38
RRRRX Sortino Ratio Rank: 36
RRRRX Omega Ratio Rank: 36
RRRRX Calmar Ratio Rank: 53
RRRRX Martin Ratio Rank: 46

AAAZX

AAAZX Risk / Return Rank: 77
AAAZX Sharpe Ratio Rank: 80
AAAZX Sortino Ratio Rank: 75
AAAZX Omega Ratio Rank: 77
AAAZX Calmar Ratio Rank: 87
AAAZX Martin Ratio Rank: 67

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RRRRX vs. AAAZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DWS RREEF Real Estate Securities Fund (RRRRX) and DWS RREEF Real Assets Fund (AAAZX). 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.

	RRRRX	AAAZX	Difference
Sharpe ratio: Return per unit of total volatility	1.17	1.87	-0.70
Sortino ratio: Return per unit of downside risk	1.66	2.55	-0.88
Omega ratio: Gain probability vs. loss probability	1.21	1.34	-0.13
Calmar ratio: Return relative to maximum drawdown	1.95	3.01	-1.06
Martin ratio: Return relative to average drawdown	6.59	8.25	-1.66

RRRRX vs. AAAZX - Sharpe Ratio Comparison

The current RRRRX Sharpe Ratio is 1.17, which is lower than the AAAZX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of RRRRX and AAAZX, 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

RRRRX vs. AAAZX - Drawdown Comparison

The maximum RRRRX drawdown since its inception was -74.05%, which is greater than AAAZX's maximum drawdown of -40.45%. Use the drawdown chart below to compare losses from any high point for RRRRX and AAAZX.

Drawdown Indicators

	RRRRX	AAAZX	Difference
Max Drawdown Largest peak-to-trough decline	-74.05%	-40.45%	-33.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.21%	-5.78%	-2.43%
Max Drawdown (3Y) Largest decline over 3 years	-18.46%	-10.06%	-8.40%
Max Drawdown (5Y) Largest decline over 5 years	-34.31%	-22.52%	-11.79%
Max Drawdown (10Y) Largest decline over 10 years	-41.14%	-29.44%	-11.70%
Current Drawdown Current decline from peak	-1.89%	-2.32%	+0.43%
Average Drawdown Average peak-to-trough decline	-12.49%	-6.60%	-5.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	2.11%	+0.42%

Volatility

RRRRX vs. AAAZX - Volatility Comparison

DWS RREEF Real Estate Securities Fund (RRRRX) has a higher volatility of 4.35% compared to DWS RREEF Real Assets Fund (AAAZX) at 2.16%. This indicates that RRRRX's price experiences larger fluctuations and is considered to be riskier than AAAZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RRRRX	AAAZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	2.16%	+2.19%
Volatility (6M) Calculated over the trailing 6-month period	11.02%	7.48%	+3.54%
Volatility (1Y) Calculated over the trailing 1-year period	13.80%	9.33%	+4.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.57%	12.07%	+6.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.70%	12.70%	+8.00%

RRRRX vs. AAAZX - Expense Ratio Comparison

RRRRX has a 0.61% expense ratio, which is lower than AAAZX's 0.90% expense ratio.

Dividends

RRRRX vs. AAAZX - Dividend Comparison

RRRRX's dividend yield for the trailing twelve months is around 1.87%, less than AAAZX's 6.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAAZX DWS RREEF Real Assets Fund	6.60%	4.15%	2.85%	2.40%	4.50%	2.62%	1.60%	2.07%	1.89%	1.79%	1.82%	2.53%
RRRRX DWS RREEF Real Estate Securities Fund	1.87%	2.02%	2.77%	1.82%	4.44%	7.68%	3.53%	7.94%	4.56%	4.97%	12.39%	13.74%

Frequently Asked Questions

Can I hold both RRRRX and AAAZX in my portfolio?

RRRRX and AAAZX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RRRRX or AAAZX?

RRRRX has higher volatility (4.35%) compared to AAAZX (2.16%). In terms of maximum drawdown, RRRRX dropped -74.05% vs AAAZX's -40.45%.

Which has better risk-adjusted returns?

AAAZX currently has the higher Sharpe Ratio (1.87 vs 1.17), 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.