DESK vs. JRE

Last updated Aug 2, 2026

DESK (Vaneck Office And Commercial REIT ETF) and JRE (Janus Henderson U.S. Real Estate ETF) are both REIT funds. DESK is passively managed, while JRE is actively managed. Over the past year, DESK returned 16.02% vs 25.57% for JRE. Their 0.74 correlation means they have sometimes moved together and sometimes differently. DESK charges 0.50%/yr vs 0.65%/yr for JRE.

Performance

DESK vs. JRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vaneck Office And Commercial REIT ETF (DESK) and Janus Henderson U.S. Real Estate ETF (JRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DESK achieves a 18.44% return, which is significantly lower than JRE's 21.26% return.

DESK

• 1D: -1.35%
• 1M: -1.15%
• 6M: 18.50%
• YTD: 18.44%
• 1Y: 16.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.29%

JRE

• 1D: -0.56%
• 1M: 1.57%
• 6M: 18.21%
• YTD: 21.26%
• 1Y: 25.57%
• 3Y*: 11.22%
• 5Y*: 4.22%
• 10Y*: —
• ALL TIME*: 5.28%

*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)
DESK Vaneck Office And Commercial REIT ETF	$1.35M	$1.56M	$562.16K
JRE Janus Henderson U.S. Real Estate ETF	$46.81K	$44.87K	$37.37K

DESK vs. JRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DESK Vaneck Office And Commercial REIT ETF	18.44%	-10.42%	16.01%	13.17%
JRE Janus Henderson U.S. Real Estate ETF	21.26%	2.97%	7.65%	6.41%

Correlation

The correlation between DESK and JRE is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.66
Correlation (All Time) Calculated using the full available price history since Sep 21, 2023	0.74

The correlation between DESK and JRE has been stable across timeframes, ranging from 0.66 to 0.74 - a consistent structural relationship.

Return for Risk

DESK vs. JRE — Risk / Return Rank

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

DESK

DESK Risk / Return Rank: 25
DESK Sharpe Ratio Rank: 29
DESK Sortino Ratio Rank: 29
DESK Omega Ratio Rank: 27
DESK Calmar Ratio Rank: 21
DESK Martin Ratio Rank: 20

JRE

JRE Risk / Return Rank: 83
JRE Sharpe Ratio Rank: 81
JRE Sortino Ratio Rank: 80
JRE Omega Ratio Rank: 79
JRE Calmar Ratio Rank: 88
JRE Martin Ratio Rank: 85

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.

DESK vs. JRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vaneck Office And Commercial REIT ETF (DESK) and Janus Henderson U.S. Real Estate ETF (JRE). 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.

	DESK	JRE	Difference
Sharpe ratio: Return per unit of total volatility	0.71	1.87	-1.16
Sortino ratio: Return per unit of downside risk	1.11	2.59	-1.49
Omega ratio: Gain probability vs. loss probability	1.13	1.33	-0.20
Calmar ratio: Return relative to maximum drawdown	0.58	3.62	-3.04
Martin ratio: Return relative to average drawdown	1.23	11.81	-10.58

DESK vs. JRE - Sharpe Ratio Comparison

The current DESK Sharpe Ratio is 0.71, which is lower than the JRE Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of DESK and JRE, 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

DESK vs. JRE - Drawdown Comparison

The maximum DESK drawdown since its inception was -28.65%, smaller than the maximum JRE drawdown of -31.69%. Use the drawdown chart below to compare losses from any high point for DESK and JRE.

Drawdown Indicators

	DESK	JRE	Difference
Max Drawdown Largest peak-to-trough decline	-28.65%	-31.69%	+3.04%
Max Drawdown (1Y) Largest decline over 1 year	-25.09%	-7.14%	-17.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.37%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.69%	—
Current Drawdown Current decline from peak	-3.05%	-2.97%	-0.08%
Average Drawdown Average peak-to-trough decline	-11.00%	-12.26%	+1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.78%	2.18%	+9.60%

Volatility

DESK vs. JRE - Volatility Comparison

Vaneck Office And Commercial REIT ETF (DESK) has a higher volatility of 6.00% compared to Janus Henderson U.S. Real Estate ETF (JRE) at 5.05%. This indicates that DESK's price experiences larger fluctuations and is considered to be riskier than JRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DESK	JRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.00%	5.05%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	15.86%	11.02%	+4.84%
Volatility (1Y) Calculated over the trailing 1-year period	20.51%	13.93%	+6.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.68%	18.75%	+6.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.68%	18.69%	+6.99%

DESK vs. JRE - Expense Ratio Comparison

DESK has a 0.50% expense ratio, which is lower than JRE's 0.65% expense ratio.

Dividends

DESK vs. JRE - Dividend Comparison

DESK's dividend yield for the trailing twelve months is around 4.67%, which matches JRE's 4.64% yield.

Position	TTM	2025	2024	2023	2022	2021
DESK Vaneck Office And Commercial REIT ETF	4.67%	5.15%	3.78%	1.73%	0.00%	0.00%
JRE Janus Henderson U.S. Real Estate ETF	4.64%	5.81%	2.20%	2.77%	2.87%	0.90%

Frequently Asked Questions

Can I hold both DESK and JRE in my portfolio?

DESK and JRE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DESK or JRE?

DESK has higher volatility (6.00%) compared to JRE (5.05%). In terms of maximum drawdown, DESK dropped -28.65% vs JRE's -31.69%.

Which ETF is better, DESK or JRE?

On 1-year performance, JRE leads with 25.57% vs 16.02% for DESK. On fees, DESK is cheaper at 0.50% per year. On volatility, JRE has been the lower-risk option at 5.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DESK or JRE?

Over the 1-year period, JRE has performed better with a 25.57% return vs 16.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DESK or JRE?

DESK is cheaper with a 0.50% expense ratio, compared with 0.65% for JRE.

Which ETF pays a higher dividend yield, DESK or JRE?

DESK has the higher dividend yield at 4.67%, compared with 4.64% for JRE.

What is the main difference between DESK and JRE?

They also come from different issuers: VanEck and Janus Henderson. Their fees differ too: 0.50% for DESK and 0.65% for JRE.

Which has better risk-adjusted returns?

JRE currently has the higher Sharpe Ratio (1.87 vs 0.71), 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.