TAREX vs. TAVFX
Compare and contrast key facts about Third Avenue Real Estate Value Fund (TAREX) and Third Avenue Value Fund (TAVFX).
TAREX is managed by Third Avenue. It was launched on Sep 16, 1998. TAVFX is managed by Third Avenue. It was launched on Oct 31, 1990.
Performance
TAREX vs. TAVFX - Performance Comparison
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TAREX vs. TAVFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TAREX Third Avenue Real Estate Value Fund | -10.02% | 12.52% | 13.54% | 23.48% | -26.53% | 30.69% | -8.23% | 21.09% | -19.98% | 16.10% |
TAVFX Third Avenue Value Fund | 7.29% | 35.93% | -2.43% | 20.26% | 17.46% | 22.39% | 7.76% | 12.95% | -25.95% | 8.81% |
Returns By Period
In the year-to-date period, TAREX achieves a -10.02% return, which is significantly lower than TAVFX's 7.29% return. Over the past 10 years, TAREX has underperformed TAVFX with an annualized return of 4.16%, while TAVFX has yielded a comparatively higher 10.52% annualized return.
TAREX
- 1D
- 2.21%
- 1M
- -10.74%
- YTD
- -10.02%
- 6M
- -12.07%
- 1Y
- 0.38%
- 3Y*
- 11.65%
- 5Y*
- 3.91%
- 10Y*
- 4.16%
TAVFX
- 1D
- 2.65%
- 1M
- -4.24%
- YTD
- 7.29%
- 6M
- 14.70%
- 1Y
- 40.32%
- 3Y*
- 16.34%
- 5Y*
- 15.14%
- 10Y*
- 10.52%
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TAREX vs. TAVFX - Expense Ratio Comparison
Both TAREX and TAVFX have an expense ratio of 1.15%.
Return for Risk
TAREX vs. TAVFX — Risk / Return Rank
TAREX
TAVFX
TAREX vs. TAVFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Third Avenue Real Estate Value Fund (TAREX) and Third Avenue Value Fund (TAVFX). 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.
| TAREX | TAVFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.06 | 2.17 | -2.11 |
Sortino ratioReturn per unit of downside risk | 0.20 | 2.80 | -2.59 |
Omega ratioGain probability vs. loss probability | 1.03 | 1.41 | -0.38 |
Calmar ratioReturn relative to maximum drawdown | 0.06 | 2.98 | -2.92 |
Martin ratioReturn relative to average drawdown | 0.22 | 12.18 | -11.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TAREX | TAVFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.06 | 2.17 | -2.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.19 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.18 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.29 | +0.17 |
Correlation
The correlation between TAREX and TAVFX is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
TAREX vs. TAVFX - Dividend Comparison
TAREX's dividend yield for the trailing twelve months is around 6.31%, less than TAVFX's 6.46% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TAREX Third Avenue Real Estate Value Fund | 6.31% | 5.68% | 6.59% | 5.28% | 8.76% | 9.03% | 0.99% | 18.22% | 11.07% | 1.06% | 1.80% | 5.60% |
TAVFX Third Avenue Value Fund | 6.46% | 6.93% | 9.86% | 4.48% | 5.67% | 3.74% | 0.70% | 5.95% | 4.45% | 3.03% | 8.24% | 8.43% |
Drawdowns
TAREX vs. TAVFX - Drawdown Comparison
The maximum TAREX drawdown since its inception was -67.68%, roughly equal to the maximum TAVFX drawdown of -66.11%. Use the drawdown chart below to compare losses from any high point for TAREX and TAVFX.
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Drawdown Indicators
| TAREX | TAVFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.68% | -66.11% | -1.57% |
Max Drawdown (1Y)Largest decline over 1 year | -15.81% | -13.19% | -2.62% |
Max Drawdown (5Y)Largest decline over 5 years | -31.89% | -66.11% | +34.22% |
Max Drawdown (10Y)Largest decline over 10 years | -44.73% | -66.11% | +21.38% |
Current DrawdownCurrent decline from peak | -13.79% | -6.15% | -7.64% |
Average DrawdownAverage peak-to-trough decline | -11.19% | -9.61% | -1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.39% | 3.23% | +1.16% |
Volatility
TAREX vs. TAVFX - Volatility Comparison
Third Avenue Real Estate Value Fund (TAREX) and Third Avenue Value Fund (TAVFX) have volatilities of 6.04% and 6.28%, 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
| TAREX | TAVFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.04% | 6.28% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 10.82% | 11.59% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.48% | 19.18% | -1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.24% | 82.00% | -63.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.68% | 60.30% | -41.62% |