Key Takeaways
- • Easterly Global Real Estate Fund (JARIX) delivered 4.73% returns over the past 12 months (as of March 31, 2026), trailing the MSCI ACWI NR USD benchmark by 1,528 basis points and underperforming its category average by 442 basis points.
- • The fund maintains an expense ratio of 1.05%, which is below the category average of 1.17%, positioning it as a cost-competitive vehicle for global real estate exposure.
- • JARIX is mandated to invest at least 80% of net assets in real estate and real estate-related securities with geographic diversification across at least three foreign countries, providing structured international real estate exposure.
- • Recent monthly performance shows volatility: the fund declined 9.1% in the one-month period ending March 31, 2026, while the broader MSCI ACWI NR USD fell 7.18%, indicating sector-specific headwinds in real estate markets.
- • Morningstar classifies JARIX's risk profile as average relative to peer funds in its category, with a five-year cumulative return of -0.27%, reflecting extended challenges in the real estate investment landscape.
Summary
Easterly Global Real Estate Fund (ticker: JARIX) is a diversified real estate investment vehicle designed to generate returns through a combination of current income and capital appreciation across international property markets. As of March 31, 2026, the fund returned 4.73% over the trailing 12-month period, though this performance lags both broad market benchmarks and peer real estate funds. The fund underperformed the MSCI ACWI NR USD benchmark by 1,528 basis points and trailed its category average by 442 basis points over the same timeframe.
The fund's investment mandate requires it to allocate at least 80% of net assets to real estate and real estate-related securities, with a minimum of 40% deployed in issuers across at least three foreign countries. This structure provides investors with systematic international diversification within the real estate sector. JARIX's expense ratio of 1.05% is positioned below the category average of 1.17%, offering cost efficiency relative to peer funds, which may provide some offset to performance headwinds.
Recent market conditions have created meaningful headwinds for the strategy. Over the one-month period ending March 31, 2026, JARIX declined 9.1%, compared to a 7.18% decline in the MSCI ACWI NR USD, suggesting sector-specific pressure in global real estate markets. The fund ranks in the 74th percentile of its category on a one-month basis and 90th percentile on a one-year basis, indicating relative underperformance in the current environment. Longer-term returns reveal additional strain: the fund has generated -0.27% cumulative returns over five years and 5.05% over three years, demonstrating extended challenges in real estate valuations and capital deployment.
Morningstar rates JARIX's risk profile as average relative to its peer category. Three-year performance metrics show a 0.15% category-relative return for the three-month period, with the fund ranking 57th in its category on that basis. The fund's decade-long cumulative return of 4.62% underscores mixed performance across extended market cycles, reflecting both structural shifts in global real estate markets and cyclical interest rate pressures that have impacted valuations.
The fund's investment mandate requires it to allocate at least 80% of net assets to real estate and real estate-related securities, with a minimum of 40% deployed in issuers across at least three foreign countries. This structure provides investors with systematic international diversification within the real estate sector. JARIX's expense ratio of 1.05% is positioned below the category average of 1.17%, offering cost efficiency relative to peer funds, which may provide some offset to performance headwinds.
Recent market conditions have created meaningful headwinds for the strategy. Over the one-month period ending March 31, 2026, JARIX declined 9.1%, compared to a 7.18% decline in the MSCI ACWI NR USD, suggesting sector-specific pressure in global real estate markets. The fund ranks in the 74th percentile of its category on a one-month basis and 90th percentile on a one-year basis, indicating relative underperformance in the current environment. Longer-term returns reveal additional strain: the fund has generated -0.27% cumulative returns over five years and 5.05% over three years, demonstrating extended challenges in real estate valuations and capital deployment.
Morningstar rates JARIX's risk profile as average relative to its peer category. Three-year performance metrics show a 0.15% category-relative return for the three-month period, with the fund ranking 57th in its category on that basis. The fund's decade-long cumulative return of 4.62% underscores mixed performance across extended market cycles, reflecting both structural shifts in global real estate markets and cyclical interest rate pressures that have impacted valuations.
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