DFAR vs. IVRA

Last updated Aug 4, 2026

DFAR (Dimensional US Real Estate ETF) and IVRA (Invesco Real Assets ESG ETF) are both exchange-traded funds - DFAR is a REIT fund actively managed by Dimensional, while IVRA is a ESG fund actively managed by Invesco. Both are actively managed. Their correlation of 0.84 means they have usually moved in the same direction. DFAR charges 0.19%/yr vs 0.59%/yr for IVRA.

Performance

DFAR vs. IVRA - Performance Comparison

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

Returns By Period

DFAR

• 1D: -0.04%
• 1M: 0.79%
• 6M: 15.96%
• YTD: 17.78%
• 1Y: 19.56%
• 3Y*: 11.02%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.68%

IVRA

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
DFAR Dimensional US Real Estate ETF	$67.51M	$62.78M	$64.52M

DFAR vs. IVRA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFAR Dimensional US Real Estate ETF	17.78%	1.31%	5.25%	11.04%	-12.16%
IVRA Invesco Real Assets ESG ETF	11.70%	10.20%	13.07%	9.13%	-4.21%

Correlation

The correlation between DFAR and IVRA is 0.58, 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.	0.58
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (All Time) Calculated using the full available price history since Feb 24, 2022	0.84

Over the past year, the correlation between DFAR and IVRA has dropped to 0.58 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.

Return for Risk

DFAR vs. IVRA — Risk / Return Rank

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

DFAR

DFAR Risk / Return Rank: 60
DFAR Sharpe Ratio Rank: 59
DFAR Sortino Ratio Rank: 57
DFAR Omega Ratio Rank: 55
DFAR Calmar Ratio Rank: 64
DFAR Martin Ratio Rank: 63

IVRA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

DFAR vs. IVRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Real Estate ETF (DFAR) and Invesco Real Assets ESG ETF (IVRA). 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.

	DFAR	IVRA	Difference
Sharpe ratio: Return per unit of total volatility	1.44	—	—
Sortino ratio: Return per unit of downside risk	2.03	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	2.33	—	—
Martin ratio: Return relative to average drawdown	7.87	—	—

Drawdowns

Drawdown Indicators

	DFAR	IVRA	Difference
Max Drawdown Largest peak-to-trough decline	-32.27%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.43%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-17.64%	—	—
Current Drawdown Current decline from peak	-2.26%	—	—
Average Drawdown Average peak-to-trough decline	-13.72%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	—	—

Volatility

Volatility by Period

	DFAR	IVRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.71%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.08%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.08%	—	—

DFAR vs. IVRA - Expense Ratio Comparison

DFAR has a 0.19% expense ratio, which is lower than IVRA's 0.59% expense ratio.

Dividends

DFAR vs. IVRA - Dividend Comparison

DFAR's dividend yield for the trailing twelve months is around 2.63%, while IVRA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
DFAR Dimensional US Real Estate ETF	2.63%	2.97%	2.89%	3.06%	1.69%	0.00%
IVRA Invesco Real Assets ESG ETF	16.54%	5.68%	3.71%	2.47%	2.30%	3.01%

Frequently Asked Questions

Can I hold both DFAR and IVRA in my portfolio?

DFAR and IVRA have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DFAR or IVRA?

On fees, DFAR is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFAR or IVRA?

DFAR is cheaper with a 0.19% expense ratio, compared with 0.59% for IVRA.

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

IVRA has the higher dividend yield at 16.54%, compared with 2.63% for DFAR.

What is the main difference between DFAR and IVRA?

DFAR is categorized as REIT, while IVRA is ESG. They also come from different issuers: Dimensional and Invesco. Their fees differ too: 0.19% for DFAR and 0.59% for IVRA.