SAREX vs. CREMX
SAREX (SA Real Estate Securities Fund) and CREMX (Redwood Real Estate Income Fund) are both REIT funds. Over the past year, SAREX returned 12.47% vs 7.47% for CREMX. At a 0.03 correlation, their price movements are largely independent. SAREX charges 0.75%/yr vs 5.16%/yr for CREMX.
Performance
SAREX vs. CREMX - Performance Comparison
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Returns By Period
In the year-to-date period, SAREX achieves a 15.24% return, which is significantly higher than CREMX's 3.43% return.
SAREX
- 1D
- 1.28%
- 1M
- 1.12%
- YTD
- 15.24%
- 6M
- 15.03%
- 1Y
- 12.47%
- 3Y*
- 11.23%
- 5Y*
- 3.00%
- 10Y*
- 5.33%
CREMX
- 1D
- 0.04%
- 1M
- 0.56%
- YTD
- 3.43%
- 6M
- 3.58%
- 1Y
- 7.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SAREX vs. CREMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SAREX SA Real Estate Securities Fund | 15.24% | 0.73% | 4.61% | 10.70% |
CREMX Redwood Real Estate Income Fund | 3.43% | 7.72% | 8.09% | 1.95% |
Correlation
The correlation between SAREX and CREMX is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2023 | 0.03 |
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Return for Risk
SAREX vs. CREMX — Risk / Return Rank
SAREX
CREMX
SAREX vs. CREMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SA Real Estate Securities Fund (SAREX) and Redwood Real Estate Income Fund (CREMX). 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.
| SAREX | CREMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.30 | ||
| Sortino ratioReturn per unit of downside risk | -182.54 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 183.38 | -182.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | 191.46 | -190.44 |
| Martin ratioReturn relative to average drawdown | 3.60 | 3,021.25 | -3,017.65 |
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Drawdowns
SAREX vs. CREMX - Drawdown Comparison
The maximum SAREX drawdown since its inception was -68.50%, which is greater than CREMX's maximum drawdown of -0.71%. Use the drawdown chart below to compare losses from any high point for SAREX and CREMX.
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Drawdown Indicators
| SAREX | CREMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.50% | -0.71% | -67.79% |
Max Drawdown (1Y)Largest decline over 1 year | -13.63% | -0.04% | -13.59% |
Max Drawdown (3Y)Largest decline over 3 years | -18.07% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -33.87% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.56% | — | — |
Current DrawdownCurrent decline from peak | -2.17% | 0.00% | -2.17% |
Average DrawdownAverage peak-to-trough decline | -12.54% | -0.02% | -12.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 0.00% | +3.74% |
Volatility
SAREX vs. CREMX - Volatility Comparison
SA Real Estate Securities Fund (SAREX) has a higher volatility of 5.21% compared to Redwood Real Estate Income Fund (CREMX) at 0.10%. This indicates that SAREX's price experiences larger fluctuations and is considered to be riskier than CREMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAREX | CREMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.21% | 0.10% | +5.11% |
Volatility (6M)Calculated over the trailing 6-month period | 23.02% | 0.30% | +22.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.74% | 0.43% | +25.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.41% | 0.86% | +20.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.83% | 0.86% | +20.97% |
SAREX vs. CREMX - Expense Ratio Comparison
SAREX has a 0.75% expense ratio, which is lower than CREMX's 5.16% expense ratio.
Dividends
SAREX vs. CREMX - Dividend Comparison
SAREX's dividend yield for the trailing twelve months is around 2.79%, less than CREMX's 7.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CREMX Redwood Real Estate Income Fund | 7.11% | 7.38% | 7.64% | 1.98% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SAREX SA Real Estate Securities Fund | 2.79% | 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
SAREX and CREMX have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAREX has higher volatility (5.21%) compared to CREMX (0.10%). In terms of maximum drawdown, SAREX dropped -68.50% vs CREMX's -0.71%.
CREMX currently has the higher Sharpe Ratio (17.85 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.
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