Fund Evaluator:

NAA Risk Managed Real Estate Inst Overview

NAA Risk Managed Real Estate Inst (GURIX) is an actively managed Sector Equity Real Estate fund. New Age Alpha Advisors LLC launched the fund in 2014.

The investment seeks to provide total return through capital appreciation and current income. The fund pursues its investment objective by investing, under normal circumstances, at least 80% of its assets in (i) long and short equity securities of issuers primarily engaged in the real estate industry, such as real estate investment trusts (“REITs”); and (ii) equity-like securities, including individual securities, exchange-traded funds (“ETFs”) and derivatives, giving exposure to issuers primarily engaged in the real estate industry.

About NAA Risk Managed Real Estate Inst (GURIX)

There are 6 members of the management team with an average tenure of 1.88 years: Julian Koski (2024), Armen Arus (2024), Gennadiy Khayutin (2025), Burak Hurmeydan (2024), Konstantin Tourevski (2024), Hugo Chang (2024). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: S&P United States REIT TR USD index with a weighting of 100%. NAA Risk Managed Real Estate Inst has 124 securities in its portfolio. The top 10 holdings constitute 57.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

NAA Risk Managed Real Estate Inst is part of the Equity global asset class and is within the Sector Equity fund group. NAA Risk Managed Real Estate Inst has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 68.7%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 4.0% (4.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). NAA Risk Managed Real Estate Inst has 13.7% of the portfolio in cash.

Assets Under Management

The fund has $173 million in total assets, which is below the $670 million average for the Real Estate category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

GURIX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The NAA Risk Managed Real Estate Inst expense ratio is high compared to funds in the Real Estate category. NAA Risk Managed Real Estate Inst has an expense ratio of 1.62%, which is 36% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. NAA Risk Managed Real Estate Inst has a portfolio turnover rate of 69%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 78% for the Real Estate category.

Recently, in the month of August 2026, NAA Risk Managed Real Estate Inst returned -3.8%, which earned it a grade of F, as the Real Estate category had an average return of -2.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

NAA Risk Managed Real Estate Inst has a trailing yield of 2.04%, which is below the 2.08% category average. The fund normally distributes its income quarterly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

NAA Risk Managed Real Estate Inst Grades

Year to date, the fund has returned 13.3%, 0.1 percentage points worse than the category, which translates into a grade of C. The fund has returned 12.3% over the past year (grade of B), 9.9% over the past three years (grade of C) and 2.8% per year over the past five years (grade of B) and 7.2% per year over the past 10 years (grade of A).

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