TASCX vs. TAREX
TASCX (Third Avenue Small Cap Value Fund) and TAREX (Third Avenue Real Estate Value Fund) are both mutual funds - TASCX is a Small Cap Value Equities fund managed by Third Avenue, while TAREX is a REIT fund managed by Third Avenue. Over the past 10 years, TASCX returned 10.94%/yr vs 4.09%/yr for TAREX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. Both charge a 1.15% expense ratio.
Performance
TASCX vs. TAREX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TASCX achieves a 22.73% return, which is significantly higher than TAREX's -3.20% return. Over the past 10 years, TASCX has outperformed TAREX with an annualized return of 10.94%, while TAREX has yielded a comparatively lower 4.09% annualized return.
TASCX
- 1D
- -0.16%
- 1M
- 0.92%
- 6M
- 17.49%
- YTD
- 22.73%
- 1Y
- 37.93%
- 3Y*
- 15.38%
- 5Y*
- 13.00%
- 10Y*
- 10.94%
- ALL TIME*
- 9.59%
TAREX
- 1D
- 0.17%
- 1M
- 1.02%
- 6M
- -4.21%
- YTD
- -3.20%
- 1Y
- 1.26%
- 3Y*
- 10.55%
- 5Y*
- 3.87%
- 10Y*
- 4.09%
- ALL TIME*
- 8.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
TASCX vs. TAREX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TASCX Third Avenue Small Cap Value Fund | 22.73% | 14.79% | 3.04% | 22.49% | -1.87% | 25.92% | -2.96% | 22.92% | -12.55% | 8.89% |
TAREX Third Avenue Real Estate Value Fund | -3.20% | 12.52% | 13.54% | 23.48% | -26.53% | 30.69% | -8.23% | 21.09% | -19.98% | 16.10% |
Correlation
The correlation between TASCX and TAREX is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.74 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999 | 0.73 |
The correlation between TASCX and TAREX shifts across timeframes, from 0.63 (1 year) to 0.74 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TASCX vs. TAREX — Risk / Return Rank
TASCX
TAREX
TASCX vs. TAREX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Third Avenue Small Cap Value Fund (TASCX) and Third Avenue Real Estate Value Fund (TAREX). 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.
| TASCX | TAREX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.46 | ||
| Sortino ratioReturn per unit of downside risk | +3.59 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.03 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 5.69 | 0.11 | +5.59 |
| Martin ratioReturn relative to average drawdown | 18.55 | 0.25 | +18.30 |
Loading charts...
Drawdowns
TASCX vs. TAREX - Drawdown Comparison
The maximum TASCX drawdown since its inception was -58.55%, smaller than the maximum TAREX drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for TASCX and TAREX.
Loading charts...
Drawdown Indicators
| TASCX | TAREX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.55% | -67.68% | +9.13% |
Max Drawdown (1Y)Largest decline over 1 year | -6.29% | -15.81% | +9.52% |
Max Drawdown (3Y)Largest decline over 3 years | -30.26% | -19.88% | -10.38% |
Max Drawdown (5Y)Largest decline over 5 years | -30.26% | -31.89% | +1.63% |
Max Drawdown (10Y)Largest decline over 10 years | -40.45% | -44.73% | +4.28% |
Current DrawdownCurrent decline from peak | -2.28% | -7.26% | +4.98% |
Average DrawdownAverage peak-to-trough decline | -8.57% | -11.16% | +2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 6.77% | -4.84% |
Volatility
TASCX vs. TAREX - Volatility Comparison
The current volatility for Third Avenue Small Cap Value Fund (TASCX) is 2.88%, while Third Avenue Real Estate Value Fund (TAREX) has a volatility of 4.48%. This indicates that TASCX experiences smaller price fluctuations and is considered to be less risky than TAREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TASCX | TAREX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.88% | 4.48% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 8.80% | 12.43% | -3.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.05% | 15.65% | -1.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.26% | 18.40% | +6.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.05% | 18.69% | +5.36% |
TASCX vs. TAREX - Expense Ratio Comparison
Both TASCX and TAREX have an expense ratio of 1.15%.
Dividends
TASCX vs. TAREX - Dividend Comparison
TASCX's dividend yield for the trailing twelve months is around 3.08%, less than TAREX's 5.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TAREX Third Avenue Real Estate Value Fund | 5.87% | 5.68% | 6.59% | 5.28% | 8.76% | 9.03% | 0.99% | 18.22% | 11.07% | 1.06% | 1.80% | 5.60% |
TASCX Third Avenue Small Cap Value Fund | 3.08% | 3.78% | 11.87% | 14.38% | 5.40% | 8.55% | 1.50% | 7.75% | 12.67% | 13.61% | 9.15% | 14.70% |
Frequently Asked Questions
TASCX and TAREX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TAREX has higher volatility (4.48%) compared to TASCX (2.88%). In terms of maximum drawdown, TASCX dropped -58.55% vs TAREX's -67.68%.
TASCX currently has the higher Sharpe Ratio (2.56 vs 0.11), 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.
Find the right allocation for TASCX and TAREX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer