DFAR vs. JRE

Last updated Aug 4, 2026

DFAR (Dimensional US Real Estate ETF) and JRE (Janus Henderson U.S. Real Estate ETF) are both REIT funds. Both are actively managed. Over the past 3 years, DFAR returned 11.02%/yr vs 11.74%/yr for JRE. Their 0.96 correlation means they have historically moved very closely together. DFAR charges 0.19%/yr vs 0.65%/yr for JRE.

Performance

DFAR vs. JRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Real Estate ETF (DFAR) 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, DFAR achieves a 17.78% return, which is significantly lower than JRE's 20.87% return.

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%

JRE

• 1D: -0.32%
• 1M: 1.24%
• 6M: 18.77%
• YTD: 20.87%
• 1Y: 25.17%
• 3Y*: 11.74%
• 5Y*: 4.23%
• 10Y*: —
• ALL TIME*: 5.21%

*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
JRE Janus Henderson U.S. Real Estate ETF	$48.27K	$43.72K	$38.36K

DFAR vs. JRE - 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%
JRE Janus Henderson U.S. Real Estate ETF	20.87%	2.97%	7.65%	8.79%	-12.64%

Correlation

The correlation between DFAR and JRE is 0.95, 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.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (All Time) Calculated using the full available price history since Feb 24, 2022	0.96

The correlation between DFAR and JRE has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

DFAR vs. JRE — 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

JRE

JRE Risk / Return Rank: 78
JRE Sharpe Ratio Rank: 75
JRE Sortino Ratio Rank: 74
JRE Omega Ratio Rank: 73
JRE Calmar Ratio Rank: 86
JRE Martin Ratio Rank: 81

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. JRE - Risk-Adjusted Trends Comparison

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

	DFAR	JRE	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.82	-0.39
Sortino ratio: Return per unit of downside risk	2.03	2.54	-0.51
Omega ratio: Gain probability vs. loss probability	1.25	1.32	-0.07
Calmar ratio: Return relative to maximum drawdown	2.33	3.54	-1.21
Martin ratio: Return relative to average drawdown	7.87	11.50	-3.63

DFAR vs. JRE - Sharpe Ratio Comparison

The current DFAR Sharpe Ratio is 1.44, which is comparable to the JRE Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of DFAR 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

DFAR vs. JRE - Drawdown Comparison

The maximum DFAR drawdown since its inception was -32.27%, roughly equal to the maximum JRE drawdown of -31.69%. Use the drawdown chart below to compare losses from any high point for DFAR and JRE.

Drawdown Indicators

	DFAR	JRE	Difference
Max Drawdown Largest peak-to-trough decline	-32.27%	-31.69%	-0.58%
Max Drawdown (1Y) Largest decline over 1 year	-8.43%	-7.14%	-1.29%
Max Drawdown (3Y) Largest decline over 3 years	-17.64%	-18.37%	+0.73%
Max Drawdown (5Y) Largest decline over 5 years	—	-31.69%	—
Current Drawdown Current decline from peak	-2.26%	-3.27%	+1.01%
Average Drawdown Average peak-to-trough decline	-13.72%	-12.25%	-1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	2.19%	+0.30%

Volatility

DFAR vs. JRE - Volatility Comparison

The current volatility for Dimensional US Real Estate ETF (DFAR) is 4.32%, while Janus Henderson U.S. Real Estate ETF (JRE) has a volatility of 4.97%. This indicates that DFAR experiences smaller price fluctuations and is considered to be less risky than JRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAR	JRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	4.97%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	10.74%	11.03%	-0.29%
Volatility (1Y) Calculated over the trailing 1-year period	13.71%	13.88%	-0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.08%	18.76%	+0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.08%	18.68%	+0.40%

DFAR vs. JRE - Expense Ratio Comparison

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

Dividends

DFAR vs. JRE - Dividend Comparison

DFAR's dividend yield for the trailing twelve months is around 2.63%, less than JRE's 4.66% yield.

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%
JRE Janus Henderson U.S. Real Estate ETF	4.66%	5.81%	2.20%	2.77%	2.87%	0.90%

Frequently Asked Questions

Can I hold both DFAR and JRE in my portfolio?

With a correlation of 0.95, DFAR and JRE 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, DFAR or JRE?

JRE has higher volatility (4.97%) compared to DFAR (4.32%). In terms of maximum drawdown, DFAR dropped -32.27% vs JRE's -31.69%.

Which ETF is better, DFAR or JRE?

On 3-year performance, JRE leads with 11.74% vs 11.02% for DFAR. On fees, DFAR is cheaper at 0.19% per year. On volatility, DFAR has been the lower-risk option at 4.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFAR or JRE?

Over the 3-year period, JRE has performed better with a 11.74% return vs 11.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFAR or JRE?

DFAR is cheaper with a 0.19% expense ratio, compared with 0.65% for JRE.

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

JRE has the higher dividend yield at 4.66%, compared with 2.63% for DFAR.

What is the main difference between DFAR and JRE?

They also come from different issuers: Dimensional and Janus Henderson. Their fees differ too: 0.19% for DFAR and 0.65% for JRE.

Which has better risk-adjusted returns?

JRE currently has the higher Sharpe Ratio (1.82 vs 1.44), 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.