BYRE vs. SCHH

Last updated Jun 5, 2026

BYRE (Principal Real Estate Active Opportunities ETF) and SCHH (Schwab US REIT ETF) are both REIT funds. BYRE is actively managed, while SCHH is passively managed. Over the past 3 years, BYRE returned 9.72%/yr vs 10.72%/yr for SCHH. With a 0.96 correlation, they move nearly in lockstep. BYRE charges 0.65%/yr vs 0.07%/yr for SCHH.

Performance

BYRE vs. SCHH - Performance Comparison

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

Returns By Period

In the year-to-date period, BYRE achieves a 11.65% return, which is significantly lower than SCHH's 12.96% return.

BYRE

• 1D: 1.61%
• 1M: 0.25%
• YTD: 11.65%
• 6M: 11.37%
• 1Y: 10.19%
• 3Y*: 9.72%
• 5Y*: —
• 10Y*: —

SCHH

• 1D: 1.69%
• 1M: 0.69%
• YTD: 12.96%
• 6M: 12.23%
• 1Y: 13.99%
• 3Y*: 10.72%
• 5Y*: 3.30%
• 10Y*: 4.28%

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

BYRE vs. SCHH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BYRE Principal Real Estate Active Opportunities ETF	11.65%	2.35%	4.18%	10.82%	-9.01%
SCHH Schwab US REIT ETF	12.96%	2.20%	4.99%	11.18%	-9.02%

Correlation

The correlation between BYRE and SCHH is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since May 20, 2022	0.96

The correlation between BYRE and SCHH has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

BYRE vs. SCHH - Sectors Allocation Comparison

Sectors	BYRE	SCHH
Real Estate	95.9%	98.7%
Financial Services	2.3%	0.1%
Industrials	0.3%	-
Healthcare	0.2%	-
Basic Materials	-	1.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BYRE vs. SCHH — Risk / Return Rank

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

BYRE

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

SCHH

SCHH Risk / Return Rank: 32
SCHH Sharpe Ratio Rank: 30
SCHH Sortino Ratio Rank: 29
SCHH Omega Ratio Rank: 29
SCHH Calmar Ratio Rank: 35
SCHH Martin Ratio Rank: 35

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.

BYRE vs. SCHH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Real Estate Active Opportunities ETF (BYRE) and Schwab US REIT ETF (SCHH). 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.

	BYRE	SCHH	Difference
Sharpe ratio: Return per unit of total volatility	0.82	1.06	-0.24
Sortino ratio: Return per unit of downside risk	1.17	1.50	-0.33
Omega ratio: Gain probability vs. loss probability	1.15	1.19	-0.04
Calmar ratio: Return relative to maximum drawdown	1.32	1.70	-0.38
Martin ratio: Return relative to average drawdown	3.32	5.34	-2.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BYRE vs. SCHH - Sharpe Ratio Comparison

The current BYRE Sharpe Ratio is 0.82, which is comparable to the SCHH Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of BYRE and SCHH, 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

	BYRE	SCHH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.82	1.06	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.18	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.20	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.34	-0.09

Drawdowns

BYRE vs. SCHH - Drawdown Comparison

The maximum BYRE drawdown since its inception was -25.70%, smaller than the maximum SCHH drawdown of -44.22%. Use the drawdown chart below to compare losses from any high point for BYRE and SCHH.

Drawdown Indicators

	BYRE	SCHH	Difference
Max Drawdown Largest peak-to-trough decline	-25.70%	-44.22%	+18.52%
Max Drawdown (1Y) Largest decline over 1 year	-7.76%	-8.28%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-15.20%	-17.76%	+2.56%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.28%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.22%	—
Current Drawdown Current decline from peak	-1.88%	-1.55%	-0.33%
Average Drawdown Average peak-to-trough decline	-9.58%	-9.45%	-0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.08%	2.63%	+0.45%

Volatility

BYRE vs. SCHH - Volatility Comparison

The current volatility for Principal Real Estate Active Opportunities ETF (BYRE) is 3.83%, while Schwab US REIT ETF (SCHH) has a volatility of 4.17%. This indicates that BYRE experiences smaller price fluctuations and is considered to be less risky than SCHH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BYRE	SCHH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	4.17%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	9.07%	9.61%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	12.50%	13.27%	-0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.11%	18.72%	-0.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.11%	20.97%	-2.86%

BYRE vs. SCHH - Expense Ratio Comparison

BYRE has a 0.65% expense ratio, which is higher than SCHH's 0.07% expense ratio.

Dividends

BYRE vs. SCHH - Dividend Comparison

BYRE's dividend yield for the trailing twelve months is around 2.46%, less than SCHH's 2.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BYRE Principal Real Estate Active Opportunities ETF	2.46%	2.71%	2.31%	2.63%	1.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHH Schwab US REIT ETF	2.77%	3.04%	3.22%	3.24%	2.55%	1.50%	2.86%	2.86%	3.64%	2.22%	2.81%	2.48%

Frequently Asked Questions

Can I hold both BYRE and SCHH in my portfolio?

With a correlation of 0.93, BYRE and SCHH 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, BYRE or SCHH?

SCHH has higher volatility (4.17%) compared to BYRE (3.83%). In terms of maximum drawdown, BYRE dropped -25.70% vs SCHH's -44.22%.

Which ETF is better, BYRE or SCHH?

On 3-year performance, SCHH leads with 10.72% vs 9.72% for BYRE. On fees, SCHH is cheaper at 0.07% per year. On volatility, BYRE has been the lower-risk option at 3.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BYRE or SCHH?

Over the 3-year period, SCHH has performed better with a 10.72% return vs 9.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BYRE or SCHH?

SCHH is cheaper with a 0.07% expense ratio, compared with 0.65% for BYRE.

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

SCHH has the higher dividend yield at 2.77%, compared with 2.46% for BYRE.

What is the main difference between BYRE and SCHH?

They also come from different issuers: Principal and Charles Schwab. Their fees differ too: 0.65% for BYRE and 0.07% for SCHH.

Which has better risk-adjusted returns?

SCHH currently has the higher Sharpe Ratio (1.06 vs 0.82), 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.