BBRE vs. DFAR

Last updated Jun 4, 2026

BBRE (JPMorgan BetaBuilders MSCI US REIT ETF) and DFAR (Dimensional US Real Estate ETF) are both REIT funds. BBRE is passively managed, while DFAR is actively managed. Over the past 3 years, BBRE returned 10.99%/yr vs 9.64%/yr for DFAR. With a 0.98 correlation, they move nearly in lockstep. BBRE charges 0.11%/yr vs 0.19%/yr for DFAR.

Performance

BBRE vs. DFAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) and Dimensional US Real Estate ETF (DFAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BBRE having a 11.77% return and DFAR slightly lower at 11.46%.

BBRE

• 1D: 0.16%
• 1M: -0.16%
• YTD: 11.77%
• 6M: 10.56%
• 1Y: 14.11%
• 3Y*: 10.99%
• 5Y*: 4.42%
• 10Y*: —

DFAR

• 1D: -0.04%
• 1M: -0.51%
• YTD: 11.46%
• 6M: 10.41%
• 1Y: 11.45%
• 3Y*: 9.64%
• 5Y*: —
• 10Y*: —

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

BBRE vs. DFAR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BBRE JPMorgan BetaBuilders MSCI US REIT ETF	11.77%	2.09%	8.24%	13.85%	-15.50%
DFAR Dimensional US Real Estate ETF	11.46%	1.31%	5.25%	11.04%	-14.30%

Correlation

The correlation between BBRE and DFAR is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (All Time) Calculated using the full available price history since Feb 25, 2022	0.98

The correlation between BBRE and DFAR has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

BBRE vs. DFAR - Sectors Allocation Comparison

Sectors	BBRE	DFAR
Real Estate	98.9%	99.8%
Financial Services	0.1%	0.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BBRE vs. DFAR — Risk / Return Rank

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

BBRE

BBRE Risk / Return Rank: 31
BBRE Sharpe Ratio Rank: 29
BBRE Sortino Ratio Rank: 27
BBRE Omega Ratio Rank: 27
BBRE Calmar Ratio Rank: 35
BBRE Martin Ratio Rank: 35

DFAR

DFAR Risk / Return Rank: 25
DFAR Sharpe Ratio Rank: 24
DFAR Sortino Ratio Rank: 23
DFAR Omega Ratio Rank: 23
DFAR Calmar Ratio Rank: 28
DFAR Martin Ratio Rank: 29

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.

BBRE vs. DFAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) and Dimensional US Real Estate ETF (DFAR). 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.

	BBRE	DFAR	Difference
Sharpe ratio Return per unit of total volatility	1.06	0.88	+0.18
Sortino ratio Return per unit of downside risk	1.50	1.25	+0.25
Omega ratio Gain probability vs. loss probability	1.19	1.16	+0.03
Calmar ratio Return relative to maximum drawdown	1.76	1.36	+0.39
Martin ratio Return relative to average drawdown	5.54	4.29	+1.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBRE vs. DFAR - Sharpe Ratio Comparison

The current BBRE Sharpe Ratio is 1.06, which is comparable to the DFAR Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of BBRE and DFAR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBRE	DFAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	0.88	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.15	+0.16

Drawdowns

BBRE vs. DFAR - Drawdown Comparison

The maximum BBRE drawdown since its inception was -43.61%, which is greater than DFAR's maximum drawdown of -32.27%. Use the drawdown chart below to compare losses from any high point for BBRE and DFAR.

Drawdown Indicators

	BBRE	DFAR	Difference
Max Drawdown Largest peak-to-trough decline	-43.61%	-32.27%	-11.34%
Max Drawdown (1Y) Largest decline over 1 year	-8.07%	-8.43%	+0.36%
Max Drawdown (3Y) Largest decline over 3 years	-18.92%	-17.64%	-1.28%
Max Drawdown (5Y) Largest decline over 5 years	-31.15%	—	—
Current Drawdown Current decline from peak	-3.12%	-3.01%	-0.11%
Average Drawdown Average peak-to-trough decline	-10.53%	-14.22%	+3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	2.67%	-0.12%

Volatility

BBRE vs. DFAR - Volatility Comparison

JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) has a higher volatility of 3.99% compared to Dimensional US Real Estate ETF (DFAR) at 3.71%. This indicates that BBRE's price experiences larger fluctuations and is considered to be riskier than DFAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBRE	DFAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	3.71%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	9.47%	9.40%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	13.39%	13.10%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.77%	19.13%	-0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.56%	19.13%	+3.43%

BBRE vs. DFAR - Expense Ratio Comparison

BBRE has a 0.11% expense ratio, which is lower than DFAR's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BBRE vs. DFAR - Dividend Comparison

BBRE's dividend yield for the trailing twelve months is around 2.81%, more than DFAR's 2.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BBRE JPMorgan BetaBuilders MSCI US REIT ETF	2.81%	3.24%	3.19%	3.68%	2.62%	1.70%	3.17%	2.19%	1.96%
DFAR Dimensional US Real Estate ETF	2.77%	2.97%	2.89%	3.06%	1.69%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BBRE and DFAR in my portfolio?

With a correlation of 0.98, BBRE and DFAR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BBRE or DFAR?

BBRE has higher volatility (3.99%) compared to DFAR (3.71%). In terms of maximum drawdown, BBRE dropped -43.61% vs DFAR's -32.27%.

Which ETF is better, BBRE or DFAR?

On 3-year performance, BBRE leads with 10.99% vs 9.64% for DFAR. On fees, BBRE is cheaper at 0.11% per year. On volatility, DFAR has been the lower-risk option at 3.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBRE or DFAR?

Over the 3-year period, BBRE has performed better with a 10.99% return vs 9.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBRE or DFAR?

BBRE is cheaper with a 0.11% expense ratio, compared with 0.19% for DFAR.

Which ETF pays a higher dividend yield, BBRE or DFAR?

BBRE has the higher dividend yield at 2.81%, compared with 2.77% for DFAR.

What is the main difference between BBRE and DFAR?

They also come from different issuers: JPMorgan and Dimensional. Their fees differ too: 0.11% for BBRE and 0.19% for DFAR.

Which has better risk-adjusted returns?

BBRE currently has the higher Sharpe Ratio (1.06 vs 0.88), 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.