SAREX vs. VGSLX
SAREX (SA Real Estate Securities Fund) and VGSLX (Vanguard Real Estate Index Fund Admiral Shares) are both REIT funds. Over the past 10 years, SAREX returned 5.33%/yr vs 5.43%/yr for VGSLX. With a 0.98 correlation, they move nearly in lockstep. SAREX charges 0.75%/yr vs 0.13%/yr for VGSLX.
Performance
SAREX vs. VGSLX - 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 VGSLX's 11.82% return. Both investments have delivered pretty close results over the past 10 years, with SAREX having a 5.33% annualized return and VGSLX not far ahead at 5.43%.
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%
VGSLX
- 1D
- 1.34%
- 1M
- 1.15%
- YTD
- 11.82%
- 6M
- 11.42%
- 1Y
- 11.32%
- 3Y*
- 11.30%
- 5Y*
- 2.84%
- 10Y*
- 5.43%
SAREX vs. VGSLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SAREX SA Real Estate Securities Fund | 15.24% | 0.73% | 4.61% | 10.60% | -25.42% | 40.94% | -6.22% | 26.91% | -4.00% | 4.61% |
VGSLX Vanguard Real Estate Index Fund Admiral Shares | 11.82% | 3.18% | 3.67% | 13.13% | -26.20% | 40.39% | -4.75% | 28.90% | -5.99% | 4.91% |
Correlation
The correlation between SAREX and VGSLX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | 0.98 |
The correlation between SAREX and VGSLX shifts across timeframes, from 0.87 (1 year) to 0.98 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SAREX vs. VGSLX — Risk / Return Rank
SAREX
VGSLX
SAREX vs. VGSLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SA Real Estate Securities Fund (SAREX) and Vanguard Real Estate Index Fund Admiral Shares (VGSLX). 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 | VGSLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.15 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | 1.41 | -0.38 |
| Martin ratioReturn relative to average drawdown | 3.60 | 4.40 | -0.80 |
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Drawdowns
SAREX vs. VGSLX - Drawdown Comparison
The maximum SAREX drawdown since its inception was -68.50%, smaller than the maximum VGSLX drawdown of -73.05%. Use the drawdown chart below to compare losses from any high point for SAREX and VGSLX.
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Drawdown Indicators
| SAREX | VGSLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.50% | -73.05% | +4.55% |
Max Drawdown (1Y)Largest decline over 1 year | -13.63% | -8.33% | -5.30% |
Max Drawdown (3Y)Largest decline over 3 years | -18.07% | -17.41% | -0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -33.87% | -34.41% | +0.54% |
Max Drawdown (10Y)Largest decline over 10 years | -41.56% | -42.34% | +0.78% |
Current DrawdownCurrent decline from peak | -2.17% | -0.67% | -1.50% |
Average DrawdownAverage peak-to-trough decline | -12.54% | -12.55% | +0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 2.66% | +1.08% |
Volatility
SAREX vs. VGSLX - Volatility Comparison
SA Real Estate Securities Fund (SAREX) and Vanguard Real Estate Index Fund Admiral Shares (VGSLX) have volatilities of 5.21% and 5.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAREX | VGSLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.21% | 5.22% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 23.02% | 10.22% | +12.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.74% | 13.86% | +11.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.41% | 18.92% | +2.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.83% | 20.89% | +0.94% |
SAREX vs. VGSLX - Expense Ratio Comparison
SAREX has a 0.75% expense ratio, which is higher than VGSLX's 0.13% expense ratio.
Dividends
SAREX vs. VGSLX - Dividend Comparison
SAREX's dividend yield for the trailing twelve months is around 2.79%, less than VGSLX's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VGSLX Vanguard Real Estate Index Fund Admiral Shares | 3.56% | 3.92% | 3.85% | 3.91% | 3.91% | 2.56% | 3.92% | 3.39% | 4.73% | 4.23% | 4.82% | 3.92% |
Frequently Asked Questions
SAREX and VGSLX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGSLX has higher volatility (5.22%) compared to SAREX (5.21%). In terms of maximum drawdown, SAREX dropped -68.50% vs VGSLX's -73.05%.
VGSLX currently has the higher Sharpe Ratio (0.85 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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