DiversyFund vs Fundrise 2026

For anyone deciding where to put new money, this is not a close call, and the reason is availability rather than performance. Fundrise remains open to non-accredited investors through two private interval real estate funds at a $1,000 subscription minimum, the Flagship and Income funds, both registered under the Investment Company Act of 1940 with independent directors and KPMG audits; its third fund, the Innovation Fund, listed on the NYSE as VCX in March 2026 and is now bought at a market price through a brokerage rather than by subscription. Rise Companies reported roughly $3.4 billion of equity AUM across 404,000-plus active accounts at June 30, 2026. DiversyFund's four retail vehicles, which took $83,444,368 from roughly 30,000 non-accredited investors on a $10 share, are all closed to new investment. What DiversyFund markets today is accredited-only at minimums it states as $100,000. So most people searching this comparison cannot buy one of the two things being compared. For someone who already holds DiversyFund shares the question is different again, because there is no redemption plan in any of the four vehicles and never has been, so switching is not an available action.

Three differences matter more than the rest. Access: Fundrise takes non-accredited money at a $1,000 subscription minimum into its two private interval real estate funds, with the Innovation Fund now trading on the NYSE as VCX at a market price; DiversyFund's retail vehicles are closed and its current products are accredited-only. Exit: Fundrise's interval funds make quarterly repurchase offers under Rule 23c-3, a fundamental policy that cannot be changed without a shareholder vote, though in practice the offers run at the 5% statutory minimum rather than the 25% ceiling; DiversyFund has never operated a redemption plan of any kind in any vehicle, at any price, with any lockup. Oversight: Fundrise's flagship products are 1940 Act registered investment companies audited by KPMG with an SEC-registered adviser; DiversyFund's three Regulation A REITs are audited by Claude Etinoff & Associates LLC, a firm that appears on no other Regulation A issuer across AltStreet's extraction of 5,810 annual and semi-annual statement periods, and the memorandum for its current Distressed Income Fund states that no audit will be conducted.

Not from non-accredited investors, and not into anything resembling the product most people mean. DF Growth REIT closed and is now in a winding up period it describes as 12 to 24 months or more. DF Growth REIT II had its Regulation A exemption permanently suspended by a settled SEC order on June 9, 2023 and its dissolution date extended to December 31, 2026. Value Add Growth REIT III filed a Form C-TR on April 25, 2025 and makes no further SEC filings. Value Add Growth REIT IV terminated its offering in December 2024 after a compliance lapse and withdrew its replacement on February 12, 2026, stating 'We do not expect to begin a new offering.' The company does accept new money from accredited investors: a Distressed Income Fund of up to $35,000,000 at class minimums of $1,000,000, $250,000 and $100,000, and note programs at minimums the website states as $100,000.

It raised $65,113,948 from 25,527 investors at $10 a share, bought into ten multifamily projects, paid a monthly distribution at a 5.00% annualized rate from June 2019 to September 2021, and then stopped. It declared $4,982,436 in 2022, funded by the only profitable year in its history, and $1,100,471 of that declaration was still carried as unpaid at December 31, 2025. It has declared nothing in 2023, 2024 or 2025; its FY2025 annual report says 'During the year ended December 31, 2025, the Company made no distributions to Investors.' Total declared across its life is $7,832,152 against $65,113,948 raised, or 12.0% of capital over seven years, much of it reinvested rather than paid in cash. Its five-year term was extended twice to December 31, 2025 and it is now winding up, holding ten positions at a cost of $59,679,847 against $47,514,872 of notes payable and $87,920 of cash, having borrowed $2,500,000 at a fixed 12% in February 2026.

You cannot move, and understanding why is the single most useful thing on this page. Moving requires selling, and there is nothing to sell into. None of DiversyFund's four retail vehicles has ever operated a redemption plan, no secondary market exists, and no filing AltStreet reviewed describes any transfer mechanism. Your capital is returned when the underlying buildings are sold and the proceeds work their way back through the debt, the disposition fees and the sponsor's promote, or it is not. What you actually control is new money, which can go anywhere, and your own information: read the Form 1-K for your vehicle each April, and watch for Form 1-U filings, which is where a sale of a significant asset must be reported. Anyone telling you to switch platforms is describing a transaction that does not exist.

From Fundrise, subject to a queue. From DiversyFund, no. Fundrise's interval funds make quarterly repurchase offers of 5% to 25% of outstanding shares under Rule 23c-3; the Income Fund prospectus states the fund 'will likely offer to repurchase only the minimum allowable amount of 5%', and the June 2026 offer was in fact 5%, which on a $631 million fund is roughly $31.5 million a quarter. If requests exceed that, holders are filled pro rata across multiple quarters. The Innovation Fund now trades on the NYSE as VCX, which is genuine daily liquidity at a market price with listed closed-end discount risk. DiversyFund offers none of this: no redemption plan exists in DF Growth REIT, DF Growth REIT II, Value Add Growth REIT III or Value Add Growth REIT IV, and none ever has.

The honest answer is that only one of them has a return you can compute. Fundrise's Income Real Estate Fund held NAV within three cents of its $10.00 inception price from April 2022 through December 2025, ending at $10.04, and paid distributions throughout; its Innovation Fund reported 84.44% cumulative gross since inception through January 2026. DiversyFund publishes no net asset value per share for any vehicle and obtains no independent appraisal. On AltStreet's arithmetic from the issuers' own reported equity and share counts at December 31, 2025, DF Growth REIT works out at about $5.21 of book value behind each $10 share, DF Growth REIT II about $4.12, and Value Add Growth REIT IV about $7.37. Value Add Growth REIT III still carries its shares at the $10 they were sold for, because in its own words 'there has been no valuation event since the Offering closed'. Those are book values from the issuers' balance sheets, not appraisals and not prices anyone will pay.

Fundrise's headline rate is lower and its disclosure is more complete, though neither is fully transparent. Fundrise charges 0.85% of NAV at the Income and Flagship funds and 1.85% at the Innovation Fund, with no carried interest. DiversyFund waived the 2% fund-level asset management fee at DF Growth REIT since inception, which is a real concession, and then charged the money at the property instead: an acquisition or developer fee of 6% to 8% of total project cost, which came to $6,537,745 in 2021 alone across four acquisitions, equal to 10.0% of everything that fund ever raised, capitalized into the buildings rather than shown as a fund expense. Both sponsors have an affiliate-fee problem of the same shape: Fundrise Real Estate LLC sets its own property-level rates 'in its sole discretion' and was paid $17.6 million by the Flagship Fund in a year, excluded from the stated expense ratio, while DiversyFund's manager may keep the difference when it hires third parties below 'market rates' that the manager itself determines, with no cap.

It did, and it stopped four years ago. DF Growth REIT paid a monthly distribution at a 5.00% annualized rate for 28 consecutive months, from the June 2019 period through the September 2021 period, totaling $2,849,716. After one further declaration in 2022 it has declared nothing, and $1,100,471 of that 2022 declaration was still unpaid at the end of 2025. No distribution is disclosed for any of the other three vehicles. Fundrise's Income Fund pays distributions and its NAV has been stable, with the caveat that the Flagship Fund classified 100% of its distributions as return of capital for 2021 through 2025, which is structurally expected in an appreciation-focused fund but is a tax characterization rather than a statement about where the cash came from.

The governance floor is materially higher, which is not the same as safe. Fundrise's flagship products are registered under the 1940 Act: independent directors, a KPMG audit, an SEC-registered adviser, and a repurchase policy that is fundamental rather than discretionary. Against that, its corporate parent remains loss-making, its affiliated service provider sets its own rates, and in April 2026 it merged seven Regulation A eREITs into a single vehicle at manager-determined NAVs, after fleet-wide redemption suspensions and a markdown cycle, with no fairness opinion obtained. That is Fundrise's own documented instance of sponsor discretion and this guide does not skip it. DiversyFund's record includes a permanently suspended Regulation A exemption at one fund, a separate Regulation A lapse and rescission at another, periodic reports up to 342 days late, and a sponsor whose own balance sheet shows liabilities exceeding assets by $6,802,512. Neither is risk-free; the distance between them is large.

Yes. Nothing about holding DiversyFund shares restricts you from investing anywhere else, and the two have no contractual relationship. The premise is worth correcting, though, because it changes what you should plan for. A DiversyFund position is not locked up in the sense of a lockup that expires on a date. There is no redemption plan in any of the four retail vehicles and never has been, no secondary market exists, and no filing AltStreet reviewed describes any transfer mechanism, so there is no point at which the position becomes sellable by waiting. Capital returns when the underlying buildings are sold and the proceeds clear the debt, the disposition fees and the sponsor's promote. Treat the DiversyFund holding as capital of unknown value and unknown timing rather than as money that frees up later, and size new commitments to Fundrise or anywhere else on that basis rather than on the assumption that the old position will be available to redeploy.

Fundrise is the closest structural replacement for what DiversyFund used to sell: pooled, diversified, professionally managed real estate at a low minimum with no accreditation requirement, and unlike DiversyFund it has a working exit, even a rationed one. It is not the only one. Arrived sells fractional interests in individual rental homes at low minimums with a redemption window, which suits an investor who wants to choose the property. Groundfloor sells short-duration real estate debt where the money comes back on repayment rather than on a sale years away. RealtyMogul runs two Regulation A REITs, though it suspended its Share Repurchase Program in April 2026, which is a reminder that a redemption plan at the Regulation A tier is a mechanism the manager controls. AltStreet reviews all four.