The National Council of Real Estate Investment Fiduciaries (NCREIF) Fund Index – Open End Diversified Core Equity, also known as the NFI-ODCE Index, is utilized as an institutional real estate performance benchmark. The NFI-ODCE Index is an index of investments returns (gross of fees) of the largest private real estate funds pursuing a core investment strategy which is typically characterized by low risk, low leverage (less than 40%), and stable properties diversified across the US.
Below are the returns of the NFI-ODCE Index since its inception in 1978.