NRFAX Performance — AEW Global Focused Real Estate Fund, Class A
Data updated: 2026-09-28
NRFAX returned +13.84% year to date and +19.38% over one year to Jul 2026. Annualised returns are +10.11% over 3 years and +2.22% over 5 years. The fund beat its Global Real Estate category average: $100 invested three years ago grew to $134, against $131 for the category, and to $119 over one year, against $117. Volatility over the past three years was 16.38% a year. In the 12 months to Jul 2026 the fund lost a net $2.8M, and assets reached $36.23M.
NRFAX Growth of $100
What $100 invested in AEW Global Focused Real Estate Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Global Real Estate category average over the same months.
| Period | NRFAX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $119 | $117 |
| 3 years (Aug 2023 – Jul 2026) | $134 | $131 |
| 5 years (Aug 2021 – Jul 2026) | $112 | $113 |
| Since data start (Aug 2019 – Jul 2026) | $135 | $139 |
NRFAX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +13.84% |
| 1 year | +19.38% |
| 3 years (annualised) | +10.11% |
| 5 years (annualised) | +2.22% |
NRFAX Annual Returns
Calendar-year total returns of AEW Global Focused Real Estate Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +13.84% |
| 2025 | +8.04% |
| 2024 | +1.71% |
| 2023 | +13.18% |
| 2022 | −25.88% |
| 2021 | +27.92% |
| 2020 | −5.78% |
| 2019 (Aug–Dec) | +7.00% |
NRFAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +3.4% | +7.1% | −8.4% | +8.7% | −1.2% | +1.7% | +2.7% | — | — | — | — | — |
| 2025 | +1.1% | +2.5% | −2.7% | +1.1% | +2.7% | +0.9% | −2.4% | +4.9% | +0.9% | −1.5% | +1.9% | −1.3% |
| 2024 | −4.5% | +0.1% | +3.2% | −5.8% | +4.0% | +0.4% | +6.1% | +5.7% | +3.3% | −4.7% | +2.9% | −7.7% |
| 2023 | +9.4% | −4.5% | −2.5% | +2.8% | −4.7% | +3.1% | +3.2% | −3.2% | −6.0% | −3.7% | +11.3% | +9.4% |
| 2022 | −5.6% | −2.0% | +4.2% | −5.2% | −6.2% | −9.0% | +8.0% | −6.6% | −11.9% | +2.2% | +7.7% | −3.0% |
| 2021 | −2.1% | +4.7% | +3.0% | +6.6% | +1.9% | +1.4% | +3.4% | +1.4% | −5.2% | +7.1% | −2.7% | +6.1% |
| 2020 | +1.3% | −7.2% | −19.5% | +4.1% | +2.4% | +1.8% | +4.3% | +2.2% | −2.5% | −3.1% | +9.9% | +3.6% |
| 2019 | — | — | — | — | — | — | — | +2.6% | +2.2% | +2.7% | −1.2% | +0.5% |
NRFAX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 16.38%
- 3-year Sharpe ratio: 0.34 (vs 4.5% risk-free rate)
- Best month: +11.31% (Nov 2023)
- Worst month: −8.36% (Mar 2026)
NRFAX Fund Flows
Monthly money in and out of AEW Global Focused Real Estate Fund, from SEC Form N-PORT.
- 12-month net flow: −$2.8M
- 12-month gross sales (incl. reinvestments): $7.9M
- Sales ÷ redemptions: 0.74×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $409K | $1.0M | −$608K |
| Jun 2026 | $530K | $366K | $164K |
| May 2026 | $239K | $381K | −$142K |
| Apr 2026 | $428K | $882K | −$454K |
| Mar 2026 | $715K | $469K | $246K |
| Feb 2026 | $1.1M | $1.7M | −$600K |
| Jan 2026 | $802K | $648K | $154K |
| Dec 2025 | $1.3M | $3.4M | −$2.0M |
| Nov 2025 | $202K | $273K | −$71K |
| Oct 2025 | $231K | $691K | −$461K |
| Sep 2025 | $1.5M | $444K | $1.1M |
| Aug 2025 | $425K | $524K | −$99K |
NRFAX Assets Under Management
Net assets of AEW Global Focused Real Estate Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $36.23M |
| 2026-04-30 | $35.90M |
| 2026-01-31 | $34.68M |
| 2025-10-31 | $35.83M |
| 2025-07-31 | $34.05M |
| 2025-04-30 | $34.42M |
| 2025-01-31 | $35.14M |
| 2024-10-31 | $36.35M |
| 2024-07-31 | $35.82M |
| 2024-04-30 | $34.40M |
| 2024-01-31 | $56.49M |
| 2023-10-31 | $78.62M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.