TIREX vs. VNQ
Compare and contrast key facts about TIAA-CREF Real Estate Securities Fund Institutional Class (TIREX) and Vanguard Real Estate ETF (VNQ).
TIREX is managed by TIAA Investments. It was launched on Oct 1, 2002. VNQ is a passively managed fund by Vanguard that tracks the performance of the MSCI US Investable Market Real Estate 25/50 Index. It was launched on Sep 23, 2004.
Performance
TIREX vs. VNQ - Performance Comparison
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TIREX vs. VNQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIREX TIAA-CREF Real Estate Securities Fund Institutional Class | 2.59% | 2.10% | 5.30% | 12.16% | -28.74% | 39.39% | 1.29% | 31.09% | -4.06% | 11.73% |
VNQ Vanguard Real Estate ETF | 1.67% | 3.24% | 4.81% | 11.85% | -26.25% | 40.54% | -4.61% | 28.91% | -6.03% | 4.90% |
Returns By Period
In the year-to-date period, TIREX achieves a 2.59% return, which is significantly higher than VNQ's 1.67% return. Over the past 10 years, TIREX has outperformed VNQ with an annualized return of 5.75%, while VNQ has yielded a comparatively lower 4.69% annualized return.
TIREX
- 1D
- 1.56%
- 1M
- -6.86%
- YTD
- 2.59%
- 6M
- 1.13%
- 1Y
- 3.40%
- 3Y*
- 6.60%
- 5Y*
- 2.28%
- 10Y*
- 5.75%
VNQ
- 1D
- 0.36%
- 1M
- -6.21%
- YTD
- 1.67%
- 6M
- -0.84%
- 1Y
- 2.18%
- 3Y*
- 6.57%
- 5Y*
- 2.86%
- 10Y*
- 4.69%
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TIREX vs. VNQ - Expense Ratio Comparison
TIREX has a 0.47% expense ratio, which is higher than VNQ's 0.13% expense ratio.
Return for Risk
TIREX vs. VNQ — Risk / Return Rank
TIREX
VNQ
TIREX vs. VNQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Real Estate Securities Fund Institutional Class (TIREX) and Vanguard Real Estate ETF (VNQ). 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.
| TIREX | VNQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.22 | 0.13 | +0.09 |
Sortino ratioReturn per unit of downside risk | 0.41 | 0.30 | +0.12 |
Omega ratioGain probability vs. loss probability | 1.06 | 1.04 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.37 | 0.18 | +0.19 |
Martin ratioReturn relative to average drawdown | 1.52 | 0.70 | +0.83 |
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
| TIREX | VNQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.22 | 0.13 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.15 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 0.23 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.26 | +0.06 |
Correlation
The correlation between TIREX and VNQ is 0.98, 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
TIREX vs. VNQ - Dividend Comparison
TIREX's dividend yield for the trailing twelve months is around 2.68%, less than VNQ's 3.92% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TIREX TIAA-CREF Real Estate Securities Fund Institutional Class | 2.68% | 3.56% | 3.08% | 2.71% | 5.13% | 3.07% | 1.80% | 6.18% | 3.54% | 7.20% | 4.16% | 5.65% |
VNQ Vanguard Real Estate ETF | 3.92% | 3.92% | 3.85% | 3.95% | 3.91% | 2.56% | 3.93% | 3.39% | 4.74% | 4.23% | 4.82% | 3.92% |
Drawdowns
TIREX vs. VNQ - Drawdown Comparison
The maximum TIREX drawdown since its inception was -74.18%, roughly equal to the maximum VNQ drawdown of -73.07%. Use the drawdown chart below to compare losses from any high point for TIREX and VNQ.
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Drawdown Indicators
| TIREX | VNQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.18% | -73.07% | -1.11% |
Max Drawdown (1Y)Largest decline over 1 year | -12.38% | -12.44% | +0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -35.67% | -34.48% | -1.19% |
Max Drawdown (10Y)Largest decline over 10 years | -39.26% | -42.40% | +3.14% |
Current DrawdownCurrent decline from peak | -11.84% | -9.24% | -2.60% |
Average DrawdownAverage peak-to-trough decline | -13.54% | -13.71% | +0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | 3.21% | -0.24% |
Volatility
TIREX vs. VNQ - Volatility Comparison
TIAA-CREF Real Estate Securities Fund Institutional Class (TIREX) and Vanguard Real Estate ETF (VNQ) have volatilities of 4.60% and 4.57%, 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
| TIREX | VNQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 4.57% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 9.11% | 9.28% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.12% | 16.31% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.84% | 18.80% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.13% | 20.70% | -0.57% |