SAMKX vs. SAREX

Last updated Jun 23, 2026

SAMKX (SA U.S. Core Market Fund) and SAREX (SA Real Estate Securities Fund) are both mutual funds - SAMKX is a Large Cap Blend Equities fund managed by SA Funds, while SAREX is a REIT fund managed by SA Funds. Over the past 10 years, SAMKX returned 14.63%/yr vs 5.05%/yr for SAREX. A 0.55 correlation means they provide meaningful diversification when combined. SAMKX charges 0.67%/yr vs 0.75%/yr for SAREX.

Performance

SAMKX vs. SAREX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SA U.S. Core Market Fund (SAMKX) 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, SAMKX achieves a 9.47% return, which is significantly lower than SAREX's 12.41% return. Over the past 10 years, SAMKX has outperformed SAREX with an annualized return of 14.63%, while SAREX has yielded a comparatively lower 5.05% annualized return.

SAMKX

• 1D: 1.02%
• 1M: 0.49%
• YTD: 9.47%
• 6M: 8.92%
• 1Y: 24.94%
• 3Y*: 19.37%
• 5Y*: 12.63%
• 10Y*: 14.63%

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)

SAMKX vs. SAREX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SAMKX SA U.S. Core Market Fund	9.47%	15.80%	22.80%	25.81%	-18.91%	25.66%	18.88%	30.56%	-4.69%	22.20%
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 SAMKX and SAREX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012	0.55

Over the past year, the correlation between SAMKX and SAREX has dropped to 0.29 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.

Return for Risk

SAMKX vs. SAREX — Risk / Return Rank

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

SAMKX

SAMKX Risk / Return Rank: 73
SAMKX Sharpe Ratio Rank: 73
SAMKX Sortino Ratio Rank: 71
SAMKX Omega Ratio Rank: 66
SAMKX Calmar Ratio Rank: 73
SAMKX Martin Ratio Rank: 81

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.

SAMKX vs. SAREX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SA U.S. Core Market Fund (SAMKX) 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.

	SAMKX	SAREX	Difference
Sharpe ratio: Return per unit of total volatility	2.29	0.49	+1.80
Sortino ratio: Return per unit of downside risk	3.18	0.86	+2.31
Omega ratio: Gain probability vs. loss probability	1.41	1.16	+0.25
Calmar ratio: Return relative to maximum drawdown	3.16	0.92	+2.24
Martin ratio: Return relative to average drawdown	13.98	3.22	+10.76

SAMKX vs. SAREX - Sharpe Ratio Comparison

The current SAMKX Sharpe Ratio is 2.29, which is higher than the SAREX Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of SAMKX 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

SAMKX vs. SAREX - Drawdown Comparison

The maximum SAMKX drawdown since its inception was -33.77%, smaller than the maximum SAREX drawdown of -68.50%. Use the drawdown chart below to compare losses from any high point for SAMKX and SAREX.

Drawdown Indicators

	SAMKX	SAREX	Difference
Max Drawdown Largest peak-to-trough decline	-33.77%	-68.50%	+34.73%
Max Drawdown (1Y) Largest decline over 1 year	-8.75%	-13.63%	+4.88%
Max Drawdown (3Y) Largest decline over 3 years	-19.29%	-18.07%	-1.22%
Max Drawdown (5Y) Largest decline over 5 years	-24.88%	-33.87%	+8.99%
Max Drawdown (10Y) Largest decline over 10 years	-33.77%	-41.56%	+7.79%
Current Drawdown Current decline from peak	-1.11%	-4.57%	+3.46%
Average Drawdown Average peak-to-trough decline	-3.92%	-12.54%	+8.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	3.73%	-1.82%

Volatility

SAMKX vs. SAREX - Volatility Comparison

The current volatility for SA U.S. Core Market Fund (SAMKX) is 4.44%, while SA Real Estate Securities Fund (SAREX) has a volatility of 5.05%. This indicates that SAMKX 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

	SAMKX	SAREX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	5.05%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	9.41%	22.98%	-13.57%
Volatility (1Y) Calculated over the trailing 1-year period	12.09%	25.74%	-13.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.93%	21.41%	-4.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.57%	21.82%	-4.25%

SAMKX vs. SAREX - Expense Ratio Comparison

SAMKX has a 0.67% expense ratio, which is lower than SAREX's 0.75% expense ratio.

Dividends

SAMKX vs. SAREX - Dividend Comparison

SAMKX's dividend yield for the trailing twelve months is around 0.60%, less than SAREX's 2.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SAMKX SA U.S. Core Market Fund	0.60%	0.66%	0.69%	0.86%	5.83%	7.72%	8.08%	12.72%	6.46%	4.09%	6.20%	0.89%
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 SAMKX and SAREX in my portfolio?

SAMKX and SAREX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SAMKX or SAREX?

SAREX has higher volatility (5.05%) compared to SAMKX (4.44%). In terms of maximum drawdown, SAMKX dropped -33.77% vs SAREX's -68.50%.

Which has better risk-adjusted returns?

SAMKX currently has the higher Sharpe Ratio (2.29 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.