BYRE vs. IQRA

Last updated Aug 2, 2026

BYRE (Principal Real Estate Active Opportunities ETF) and IQRA (IQ CBRE Real Assets ETF) are both REIT funds. Both are actively managed. Over the past 3 years, BYRE returned 9.43%/yr vs 10.61%/yr for IQRA. Their correlation of 0.87 means they have usually moved in the same direction. Both charge a 0.65% expense ratio.

Performance

BYRE vs. IQRA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Real Estate Active Opportunities ETF (BYRE) and IQ CBRE Real Assets ETF (IQRA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BYRE achieves a 15.21% return, which is significantly higher than IQRA's 10.58% return.

BYRE

• 1D: -0.57%
• 1M: 1.50%
• 6M: 12.75%
• YTD: 15.21%
• 1Y: 14.35%
• 3Y*: 9.43%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.17%

IQRA

• 1D: -0.39%
• 1M: 0.61%
• 6M: 7.07%
• YTD: 10.58%
• 1Y: 15.50%
• 3Y*: 10.61%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.73%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BYRE Principal Real Estate Active Opportunities ETF	$106.97K	$88.05K	$86.21K
IQRA IQ CBRE Real Assets ETF	$2.55K	$1.67K	$1.07K

BYRE vs. IQRA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BYRE Principal Real Estate Active Opportunities ETF	15.21%	2.35%	4.18%	8.34%
IQRA IQ CBRE Real Assets ETF	10.58%	12.42%	5.58%	2.80%

Correlation

The correlation between BYRE and IQRA is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (All Time) Calculated using the full available price history since May 10, 2023	0.87

The correlation between BYRE and IQRA has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

BYRE vs. IQRA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BYRE

BYRE Risk / Return Rank: 47
BYRE Sharpe Ratio Rank: 46
BYRE Sortino Ratio Rank: 44
BYRE Omega Ratio Rank: 43
BYRE Calmar Ratio Rank: 53
BYRE Martin Ratio Rank: 51

IQRA

IQRA Risk / Return Rank: 58
IQRA Sharpe Ratio Rank: 62
IQRA Sortino Ratio Rank: 58
IQRA Omega Ratio Rank: 60
IQRA Calmar Ratio Rank: 56
IQRA Martin Ratio Rank: 54

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BYRE vs. IQRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Real Estate Active Opportunities ETF (BYRE) and IQ CBRE Real Assets ETF (IQRA). 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.

	BYRE	IQRA	Difference
Sharpe ratio: Return per unit of total volatility	1.15	1.46	-0.31
Sortino ratio: Return per unit of downside risk	1.64	2.00	-0.36
Omega ratio: Gain probability vs. loss probability	1.20	1.26	-0.06
Calmar ratio: Return relative to maximum drawdown	1.88	1.98	-0.10
Martin ratio: Return relative to average drawdown	5.96	6.42	-0.46

BYRE vs. IQRA - Sharpe Ratio Comparison

The current BYRE Sharpe Ratio is 1.15, which is comparable to the IQRA Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of BYRE and IQRA, 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

BYRE vs. IQRA - Drawdown Comparison

The maximum BYRE drawdown since its inception was -25.70%, which is greater than IQRA's maximum drawdown of -15.70%. Use the drawdown chart below to compare losses from any high point for BYRE and IQRA.

Drawdown Indicators

	BYRE	IQRA	Difference
Max Drawdown Largest peak-to-trough decline	-25.70%	-15.70%	-10.00%
Max Drawdown (1Y) Largest decline over 1 year	-7.76%	-8.01%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	-15.13%	-12.59%	-2.54%
Current Drawdown Current decline from peak	-2.57%	-1.88%	-0.69%
Average Drawdown Average peak-to-trough decline	-9.25%	-3.09%	-6.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	2.46%	-0.02%

Volatility

BYRE vs. IQRA - Volatility Comparison

Principal Real Estate Active Opportunities ETF (BYRE) has a higher volatility of 4.04% compared to IQ CBRE Real Assets ETF (IQRA) at 2.83%. This indicates that BYRE's price experiences larger fluctuations and is considered to be riskier than IQRA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BYRE	IQRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	2.83%	+1.21%
Volatility (6M) Calculated over the trailing 6-month period	10.20%	8.93%	+1.27%
Volatility (1Y) Calculated over the trailing 1-year period	12.77%	10.86%	+1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.99%	12.77%	+5.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.99%	12.77%	+5.22%

BYRE vs. IQRA - Expense Ratio Comparison

Both BYRE and IQRA have an expense ratio of 0.65%.

Dividends

BYRE vs. IQRA - Dividend Comparison

BYRE's dividend yield for the trailing twelve months is around 2.67%, more than IQRA's 2.64% yield.

Position	TTM	2025	2024	2023	2022
BYRE Principal Real Estate Active Opportunities ETF	2.67%	2.71%	2.31%	2.63%	1.86%
IQRA IQ CBRE Real Assets ETF	2.64%	2.83%	3.53%	2.14%	0.00%

Frequently Asked Questions

Can I hold both BYRE and IQRA in my portfolio?

BYRE and IQRA have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BYRE or IQRA?

BYRE has higher volatility (4.04%) compared to IQRA (2.83%). In terms of maximum drawdown, BYRE dropped -25.70% vs IQRA's -15.70%.

Which ETF is better, BYRE or IQRA?

On 3-year performance, IQRA leads with 10.61% vs 9.43% for BYRE. Both ETFs have the same 0.65% expense ratio. On volatility, IQRA has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BYRE or IQRA?

Over the 3-year period, IQRA has performed better with a 10.61% return vs 9.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BYRE or IQRA?

BYRE and IQRA have the same expense ratio: 0.65% per year.

Which ETF pays a higher dividend yield, BYRE or IQRA?

BYRE has the higher dividend yield at 2.67%, compared with 2.64% for IQRA.

What is the main difference between BYRE and IQRA?

They also come from different issuers: Principal and IndexIQ.

Which has better risk-adjusted returns?

IQRA currently has the higher Sharpe Ratio (1.46 vs 1.15), 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.