SAISX vs. SAREX

Last updated Jun 23, 2026

SAISX (SA International Small Company Fund) and SAREX (SA Real Estate Securities Fund) are both mutual funds - SAISX is a Foreign Small & Mid Cap Equities fund managed by SA Funds, while SAREX is a REIT fund managed by SA Funds. Over the past 10 years, SAISX returned 8.53%/yr vs 5.05%/yr for SAREX. A 0.51 correlation means they provide meaningful diversification when combined. SAISX charges 0.74%/yr vs 0.75%/yr for SAREX.

Performance

SAISX vs. SAREX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SA International Small Company Fund (SAISX) and SA Real Estate Securities Fund (SAREX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SAISX achieves a 7.86% return, which is significantly lower than SAREX's 12.41% return. Over the past 10 years, SAISX has outperformed SAREX with an annualized return of 8.53%, while SAREX has yielded a comparatively lower 5.05% annualized return.

SAISX

• 1D: 0.00%
• 1M: -0.15%
• YTD: 7.86%
• 6M: 8.12%
• 1Y: 23.55%
• 3Y*: 16.65%
• 5Y*: 7.76%
• 10Y*: 8.53%

SAREX

• 1D: -0.08%
• 1M: -1.36%
• YTD: 12.41%
• 6M: 12.82%
• 1Y: 11.34%
• 3Y*: 8.58%
• 5Y*: 2.68%
• 10Y*: 5.05%

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

SAISX vs. SAREX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SAISX SA International Small Company Fund	7.86%	35.69%	3.19%	13.87%	-17.68%	13.52%	8.54%	23.25%	-20.10%	29.04%
SAREX SA Real Estate Securities Fund	12.41%	0.73%	4.61%	10.60%	-25.42%	40.94%	-6.22%	26.91%	-4.00%	4.61%

Correlation

The correlation between SAISX and SAREX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008	0.51

The correlation between SAISX and SAREX shifts across timeframes, from 0.41 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SAISX vs. SAREX — Risk / Return Rank

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

SAISX

SAISX Risk / Return Rank: 40
SAISX Sharpe Ratio Rank: 43
SAISX Sortino Ratio Rank: 43
SAISX Omega Ratio Rank: 42
SAISX Calmar Ratio Rank: 37
SAISX Martin Ratio Rank: 36

SAREX

SAREX Risk / Return Rank: 9
SAREX Sharpe Ratio Rank: 6
SAREX Sortino Ratio Rank: 7
SAREX Omega Ratio Rank: 11
SAREX Calmar Ratio Rank: 10
SAREX Martin Ratio Rank: 12

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.

SAISX vs. SAREX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SA International Small Company Fund (SAISX) and SA Real Estate Securities Fund (SAREX). 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.

	SAISX	SAREX	Difference
Sharpe ratio: Return per unit of total volatility	1.79	0.49	+1.31
Sortino ratio: Return per unit of downside risk	2.53	0.86	+1.67
Omega ratio: Gain probability vs. loss probability	1.32	1.16	+0.16
Calmar ratio: Return relative to maximum drawdown	2.17	0.92	+1.26
Martin ratio: Return relative to average drawdown	7.55	3.22	+4.33

SAISX vs. SAREX - Sharpe Ratio Comparison

The current SAISX Sharpe Ratio is 1.79, which is higher than the SAREX Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of SAISX and SAREX, 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

SAISX vs. SAREX - Drawdown Comparison

The maximum SAISX drawdown since its inception was -61.36%, smaller than the maximum SAREX drawdown of -68.50%. Use the drawdown chart below to compare losses from any high point for SAISX and SAREX.

Drawdown Indicators

	SAISX	SAREX	Difference
Max Drawdown Largest peak-to-trough decline	-61.36%	-68.50%	+7.14%
Max Drawdown (1Y) Largest decline over 1 year	-12.00%	-13.63%	+1.63%
Max Drawdown (3Y) Largest decline over 3 years	-13.15%	-18.07%	+4.92%
Max Drawdown (5Y) Largest decline over 5 years	-33.49%	-33.87%	+0.38%
Max Drawdown (10Y) Largest decline over 10 years	-43.94%	-41.56%	-2.38%
Current Drawdown Current decline from peak	-2.87%	-4.57%	+1.70%
Average Drawdown Average peak-to-trough decline	-12.62%	-12.54%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	3.73%	-0.42%

Volatility

SAISX vs. SAREX - Volatility Comparison

The current volatility for SA International Small Company Fund (SAISX) is 4.56%, while SA Real Estate Securities Fund (SAREX) has a volatility of 5.05%. This indicates that SAISX experiences smaller price fluctuations and is considered to be less risky than SAREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SAISX	SAREX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	5.05%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	11.62%	22.98%	-11.36%
Volatility (1Y) Calculated over the trailing 1-year period	14.55%	25.74%	-11.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.32%	21.41%	-5.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.31%	21.82%	-5.51%

SAISX vs. SAREX - Expense Ratio Comparison

SAISX has a 0.74% expense ratio, which is lower than SAREX's 0.75% expense ratio.

Dividends

SAISX vs. SAREX - Dividend Comparison

SAISX's dividend yield for the trailing twelve months is around 5.50%, more than SAREX's 2.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SAISX SA International Small Company Fund	5.50%	5.93%	3.96%	3.31%	6.05%	5.68%	1.95%	5.67%	6.70%	4.28%	4.07%	3.84%
SAREX SA Real Estate Securities Fund	2.86%	3.22%	3.22%	3.04%	7.62%	8.33%	3.87%	4.29%	3.98%	2.90%	3.67%	1.80%

Frequently Asked Questions

Can I hold both SAISX and SAREX in my portfolio?

SAISX and SAREX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SAISX or SAREX?

SAREX has higher volatility (5.05%) compared to SAISX (4.56%). In terms of maximum drawdown, SAISX dropped -61.36% vs SAREX's -68.50%.

Which has better risk-adjusted returns?

SAISX currently has the higher Sharpe Ratio (1.79 vs 0.49), 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.