DFAR vs. BYRE

Last updated Apr 1, 2026

Compare and contrast key facts about Dimensional US Real Estate ETF (DFAR) and Principal Real Estate Active Opportunities ETF (BYRE).

DFAR and BYRE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DFAR is an actively managed fund by Dimensional. It was launched on Feb 23, 2022. BYRE is an actively managed fund by Principal. It was launched on May 18, 2022.

Performance

DFAR vs. BYRE - Performance Comparison

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

DFAR vs. BYRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFAR Dimensional US Real Estate ETF	3.46%	1.31%	5.25%	11.04%	-8.72%
BYRE Principal Real Estate Active Opportunities ETF	2.60%	2.35%	4.18%	10.82%	-9.01%

Returns By Period

In the year-to-date period, DFAR achieves a 3.46% return, which is significantly higher than BYRE's 2.60% return.

DFAR

• 1D: 1.55%
• 1M: -6.28%
• YTD: 3.46%
• 6M: 0.97%
• 1Y: 2.53%
• 3Y*: 6.36%
• 5Y*: —
• 10Y*: —

BYRE

• 1D: 1.44%
• 1M: -6.38%
• YTD: 2.60%
• 6M: 0.58%
• 1Y: 1.04%
• 3Y*: 5.62%
• 5Y*: —
• 10Y*: —

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

DFAR vs. BYRE - Expense Ratio Comparison

DFAR has a 0.19% expense ratio, which is lower than BYRE's 0.65% expense ratio.

BYRE

Principal Real Estate Active Opportunities ETF

DFAR

Dimensional US Real Estate ETF

Return for Risk

DFAR vs. BYRE — Risk / Return Rank

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

DFAR

DFAR Risk / Return Rank: 17
DFAR Sharpe Ratio Rank: 17
DFAR Sortino Ratio Rank: 16
DFAR Omega Ratio Rank: 16
DFAR Calmar Ratio Rank: 19
DFAR Martin Ratio Rank: 21

BYRE

BYRE Risk / Return Rank: 14
BYRE Sharpe Ratio Rank: 13
BYRE Sortino Ratio Rank: 13
BYRE Omega Ratio Rank: 13
BYRE Calmar Ratio Rank: 15
BYRE Martin Ratio Rank: 15

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.

DFAR vs. BYRE - Risk-Adjusted Trends Comparison

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

	DFAR	BYRE	Difference
Sharpe ratio Return per unit of total volatility	0.16	0.07	+0.09
Sortino ratio Return per unit of downside risk	0.32	0.20	+0.13
Omega ratio Gain probability vs. loss probability	1.04	1.03	+0.02
Calmar ratio Return relative to maximum drawdown	0.30	0.15	+0.15
Martin ratio Return relative to average drawdown	1.16	0.48	+0.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFAR vs. BYRE - Sharpe Ratio Comparison

The current DFAR Sharpe Ratio is 0.16, which is higher than the BYRE Sharpe Ratio of 0.07. The chart below compares the historical Sharpe Ratios of DFAR and BYRE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DFAR	BYRE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	0.07	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.14	-0.08

Correlation

The correlation between DFAR and BYRE is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DFAR vs. BYRE - Dividend Comparison

DFAR's dividend yield for the trailing twelve months is around 2.98%, more than BYRE's 2.64% yield.

	TTM	2025	2024	2023	2022
DFAR Dimensional US Real Estate ETF	2.98%	2.97%	2.89%	3.06%	1.69%
BYRE Principal Real Estate Active Opportunities ETF	2.64%	2.71%	2.31%	2.63%	1.86%

Drawdowns

DFAR vs. BYRE - Drawdown Comparison

The maximum DFAR drawdown since its inception was -32.27%, which is greater than BYRE's maximum drawdown of -25.70%. Use the drawdown chart below to compare losses from any high point for DFAR and BYRE.

Drawdown Indicators

	DFAR	BYRE	Difference
Max Drawdown Largest peak-to-trough decline	-32.27%	-25.70%	-6.57%
Max Drawdown (1Y) Largest decline over 1 year	-12.10%	-10.82%	-1.28%
Current Drawdown Current decline from peak	-6.75%	-6.43%	-0.32%
Average Drawdown Average peak-to-trough decline	-14.76%	-9.96%	-4.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	3.28%	-0.15%

Volatility

DFAR vs. BYRE - Volatility Comparison

Dimensional US Real Estate ETF (DFAR) and Principal Real Estate Active Opportunities ETF (BYRE) have volatilities of 4.48% and 4.70%, 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

	DFAR	BYRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.48%	4.70%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	9.28%	8.77%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	16.06%	15.00%	+1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.32%	18.29%	+1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.32%	18.29%	+1.03%