AVRE vs. IYRI

Last updated Jun 24, 2026

AVRE (Avantis Real Estate ETF) and IYRI (NEOS Real Estate High Income ETF) are both exchange-traded funds - AVRE is a REIT fund actively managed by Avantis, while IYRI is a Derivative Income fund actively managed by Neos. Both are actively managed. Over the past year, AVRE returned 10.80% vs 9.17% for IYRI. Their correlation of 0.90 suggests significant overlap in exposure. AVRE charges 0.17%/yr vs 0.68%/yr for IYRI.

Performance

AVRE vs. IYRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Real Estate ETF (AVRE) and NEOS Real Estate High Income ETF (IYRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVRE achieves a 10.29% return, which is significantly higher than IYRI's 7.08% return.

AVRE

• 1D: 0.70%
• 1M: 0.44%
• YTD: 10.29%
• 6M: 10.48%
• 1Y: 10.80%
• 3Y*: 10.51%
• 5Y*: —
• 10Y*: —

IYRI

• 1D: 1.00%
• 1M: 0.83%
• YTD: 7.08%
• 6M: 7.36%
• 1Y: 9.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVRE vs. IYRI - Yearly Performance Comparison

	2026 (YTD)	2025
AVRE Avantis Real Estate ETF	10.29%	10.10%
IYRI NEOS Real Estate High Income ETF	7.08%	6.99%

Correlation

The correlation between AVRE and IYRI is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.90

The correlation between AVRE and IYRI has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.

Return for Risk

AVRE vs. IYRI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVRE

AVRE Risk / Return Rank: 26
AVRE Sharpe Ratio Rank: 26
AVRE Sortino Ratio Rank: 24
AVRE Omega Ratio Rank: 24
AVRE Calmar Ratio Rank: 25
AVRE Martin Ratio Rank: 31

IYRI

IYRI Risk / Return Rank: 26
IYRI Sharpe Ratio Rank: 25
IYRI Sortino Ratio Rank: 23
IYRI Omega Ratio Rank: 23
IYRI Calmar Ratio Rank: 26
IYRI Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVRE vs. IYRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Real Estate ETF (AVRE) and NEOS Real Estate High Income ETF (IYRI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AVRE	IYRI	Difference
Sharpe ratio: Return per unit of total volatility	0.89	0.86	+0.03
Sortino ratio: Return per unit of downside risk	1.27	1.23	+0.05
Omega ratio: Gain probability vs. loss probability	1.16	1.16	0.00
Calmar ratio: Return relative to maximum drawdown	1.16	1.22	-0.07
Martin ratio: Return relative to average drawdown	4.18	4.37	-0.19

AVRE vs. IYRI - Sharpe Ratio Comparison

The current AVRE Sharpe Ratio is 0.89, which is comparable to the IYRI Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of AVRE and IYRI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVRE vs. IYRI - Drawdown Comparison

The maximum AVRE drawdown since its inception was -32.52%, which is greater than IYRI's maximum drawdown of -12.12%. Use the drawdown chart below to compare losses from any high point for AVRE and IYRI.

Drawdown Indicators

	AVRE	IYRI	Difference
Max Drawdown Largest peak-to-trough decline	-32.52%	-12.12%	-20.40%
Max Drawdown (1Y) Largest decline over 1 year	-9.38%	-7.53%	-1.85%
Max Drawdown (3Y) Largest decline over 3 years	-17.34%	—	—
Current Drawdown Current decline from peak	-0.83%	-0.52%	-0.31%
Average Drawdown Average peak-to-trough decline	-14.61%	-1.69%	-12.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	2.10%	+0.49%

Volatility

AVRE vs. IYRI - Volatility Comparison

Avantis Real Estate ETF (AVRE) and NEOS Real Estate High Income ETF (IYRI) have volatilities of 4.15% and 4.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVRE	IYRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	4.21%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	9.56%	7.94%	+1.62%
Volatility (1Y) Calculated over the trailing 1-year period	12.31%	10.80%	+1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.60%	13.20%	+3.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	13.20%	+3.40%

AVRE vs. IYRI - Expense Ratio Comparison

AVRE has a 0.17% expense ratio, which is lower than IYRI's 0.68% expense ratio.

Dividends

AVRE vs. IYRI - Dividend Comparison

AVRE's dividend yield for the trailing twelve months is around 4.26%, less than IYRI's 11.96% yield.

Position	TTM	2025	2024	2023	2022	2021
AVRE Avantis Real Estate ETF	4.26%	4.30%	3.99%	3.33%	3.78%	0.61%
IYRI NEOS Real Estate High Income ETF	11.96%	11.72%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVRE and IYRI in my portfolio?

AVRE and IYRI have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVRE or IYRI?

IYRI has higher volatility (4.21%) compared to AVRE (4.15%). In terms of maximum drawdown, AVRE dropped -32.52% vs IYRI's -12.12%.

Which ETF is better, AVRE or IYRI?

On 1-year performance, AVRE leads with 10.80% vs 9.17% for IYRI. On fees, AVRE is cheaper at 0.17% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVRE or IYRI?

Over the 1-year period, AVRE has performed better with a 10.80% return vs 9.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVRE or IYRI?

AVRE is cheaper with a 0.17% expense ratio, compared with 0.68% for IYRI.

Which ETF pays a higher dividend yield, AVRE or IYRI?

IYRI has the higher dividend yield at 11.96%, compared with 4.26% for AVRE.

What is the main difference between AVRE and IYRI?

AVRE is categorized as REIT, while IYRI is Derivative Income. They also come from different issuers: Avantis and Neos. Their fees differ too: 0.17% for AVRE and 0.68% for IYRI.

Which has better risk-adjusted returns?

AVRE currently has the higher Sharpe Ratio (0.89 vs 0.86), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.