VGSNX vs. CRARX
Compare and contrast key facts about Vanguard Real Estate Index Fund Institutional Shares (VGSNX) and MainStay CBRE Real Estate Fund (CRARX).
VGSNX is managed by Vanguard. It was launched on Dec 2, 2003. CRARX is managed by New York Life. It was launched on Dec 31, 1996.
Performance
VGSNX vs. CRARX - Performance Comparison
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VGSNX vs. CRARX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGSNX Vanguard Real Estate Index Fund Institutional Shares | 1.28% | 3.21% | 3.72% | 13.12% | -26.19% | 40.46% | -4.76% | 28.98% | -5.97% | 4.90% |
CRARX MainStay CBRE Real Estate Fund | 4.03% | -0.28% | 0.71% | 13.50% | -26.95% | 52.55% | -6.50% | 28.29% | -8.00% | 5.23% |
Returns By Period
In the year-to-date period, VGSNX achieves a 1.28% return, which is significantly lower than CRARX's 4.03% return. Over the past 10 years, VGSNX has outperformed CRARX with an annualized return of 4.65%, while CRARX has yielded a comparatively lower 4.31% annualized return.
VGSNX
- 1D
- 1.51%
- 1M
- -6.61%
- YTD
- 1.28%
- 6M
- -1.15%
- 1Y
- 1.75%
- 3Y*
- 6.41%
- 5Y*
- 2.79%
- 10Y*
- 4.65%
CRARX
- 1D
- 0.67%
- 1M
- -7.02%
- YTD
- 4.03%
- 6M
- 1.92%
- 1Y
- 2.02%
- 3Y*
- 4.89%
- 5Y*
- 3.16%
- 10Y*
- 4.31%
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VGSNX vs. CRARX - Expense Ratio Comparison
VGSNX has a 0.10% expense ratio, which is lower than CRARX's 0.83% expense ratio.
Return for Risk
VGSNX vs. CRARX — Risk / Return Rank
VGSNX
CRARX
VGSNX vs. CRARX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate Index Fund Institutional Shares (VGSNX) and MainStay CBRE Real Estate Fund (CRARX). 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.
| VGSNX | CRARX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.11 | 0.13 | -0.01 |
Sortino ratioReturn per unit of downside risk | 0.27 | 0.28 | -0.01 |
Omega ratioGain probability vs. loss probability | 1.04 | 1.04 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 0.22 | 0.26 | -0.04 |
Martin ratioReturn relative to average drawdown | 0.86 | 1.02 | -0.17 |
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
| VGSNX | CRARX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.11 | 0.13 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.17 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.20 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.32 | -0.05 |
Correlation
The correlation between VGSNX and CRARX is 0.99, 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
VGSNX vs. CRARX - Dividend Comparison
VGSNX's dividend yield for the trailing twelve months is around 3.95%, more than CRARX's 1.66% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGSNX Vanguard Real Estate Index Fund Institutional Shares | 3.95% | 3.94% | 3.87% | 3.93% | 3.94% | 2.57% | 3.95% | 3.40% | 4.75% | 4.26% | 4.84% | 3.94% |
CRARX MainStay CBRE Real Estate Fund | 1.66% | 2.57% | 1.80% | 3.36% | 34.64% | 4.37% | 1.77% | 15.57% | 30.33% | 21.82% | 8.85% | 7.27% |
Drawdowns
VGSNX vs. CRARX - Drawdown Comparison
The maximum VGSNX drawdown since its inception was -73.06%, roughly equal to the maximum CRARX drawdown of -72.66%. Use the drawdown chart below to compare losses from any high point for VGSNX and CRARX.
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Drawdown Indicators
| VGSNX | CRARX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.06% | -72.66% | -0.40% |
Max Drawdown (1Y)Largest decline over 1 year | -12.41% | -12.25% | -0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -34.39% | -35.43% | +1.04% |
Max Drawdown (10Y)Largest decline over 10 years | -42.30% | -45.19% | +2.89% |
Current DrawdownCurrent decline from peak | -9.48% | -13.38% | +3.90% |
Average DrawdownAverage peak-to-trough decline | -13.36% | -12.61% | -0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.18% | 3.07% | +0.11% |
Volatility
VGSNX vs. CRARX - Volatility Comparison
Vanguard Real Estate Index Fund Institutional Shares (VGSNX) has a higher volatility of 4.53% compared to MainStay CBRE Real Estate Fund (CRARX) at 4.16%. This indicates that VGSNX's price experiences larger fluctuations and is considered to be riskier than CRARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGSNX | CRARX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.53% | 4.16% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 9.27% | 9.01% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.35% | 15.89% | +0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.88% | 18.98% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.91% | 21.29% | -0.38% |