DVRE vs. IYRI

Last updated Jun 24, 2026

DVRE (WEBs Real Estate XLRE Defined Volatility ETF) and IYRI (NEOS Real Estate High Income ETF) are both exchange-traded funds - DVRE is a REIT fund tracking the Syntax Defined Volatility XLRE Index, while IYRI is a Derivative Income fund actively managed by Neos. DVRE is passively managed, while IYRI is actively managed. Their correlation of 0.94 suggests significant overlap in exposure. DVRE charges 0.89%/yr vs 0.68%/yr for IYRI.

Performance

DVRE vs. IYRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WEBs Real Estate XLRE Defined Volatility ETF (DVRE) and NEOS Real Estate High Income ETF (IYRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVRE achieves a 12.65% return, which is significantly higher than IYRI's 7.08% return.

DVRE

• 1D: 2.02%
• 1M: 0.37%
• YTD: 12.65%
• 6M: 13.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IYRI

• 1D: 1.00%
• 1M: 0.83%
• YTD: 7.08%
• 6M: 7.36%
• 1Y: 9.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DVRE vs. IYRI - Yearly Performance Comparison

	2026 (YTD)	2025
DVRE WEBs Real Estate XLRE Defined Volatility ETF	12.65%	-11.17%
IYRI NEOS Real Estate High Income ETF	7.08%	0.15%

Correlation

The correlation between DVRE and IYRI is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.94

Return for Risk

DVRE vs. IYRI — Risk / Return Rank

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

DVRE

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

IYRI

IYRI Risk / Return Rank: 26
IYRI Sharpe Ratio Rank: 25
IYRI Sortino Ratio Rank: 23
IYRI Omega Ratio Rank: 23
IYRI Calmar Ratio Rank: 26
IYRI Martin Ratio Rank: 31

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.

DVRE vs. IYRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs Real Estate XLRE Defined Volatility ETF (DVRE) and NEOS Real Estate High Income ETF (IYRI). 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.

	DVRE	IYRI	Difference
Sharpe ratio: Return per unit of total volatility	—	0.86	—
Sortino ratio: Return per unit of downside risk	—	1.23	—
Omega ratio: Gain probability vs. loss probability	—	1.16	—
Calmar ratio: Return relative to maximum drawdown	—	1.22	—
Martin ratio: Return relative to average drawdown	—	4.37	—

Drawdowns

DVRE vs. IYRI - Drawdown Comparison

The maximum DVRE drawdown since its inception was -15.88%, which is greater than IYRI's maximum drawdown of -12.12%. Use the drawdown chart below to compare losses from any high point for DVRE and IYRI.

Drawdown Indicators

	DVRE	IYRI	Difference
Max Drawdown Largest peak-to-trough decline	-15.88%	-12.12%	-3.76%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.53%	—
Current Drawdown Current decline from peak	-1.66%	-0.52%	-1.14%
Average Drawdown Average peak-to-trough decline	-6.21%	-1.69%	-4.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.10%	—

Volatility

Volatility by Period

	DVRE	IYRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.94%	—
Volatility (1Y) Calculated over the trailing 1-year period	25.35%	10.80%	+14.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.35%	13.20%	+12.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.35%	13.20%	+12.15%

DVRE vs. IYRI - Expense Ratio Comparison

DVRE has a 0.89% expense ratio, which is higher than IYRI's 0.68% expense ratio.

Dividends

DVRE vs. IYRI - Dividend Comparison

DVRE's dividend yield for the trailing twelve months is around 0.88%, less than IYRI's 11.96% yield.

Position	TTM	2025
DVRE WEBs Real Estate XLRE Defined Volatility ETF	0.88%	0.99%
IYRI NEOS Real Estate High Income ETF	11.96%	11.72%

Frequently Asked Questions

Can I hold both DVRE and IYRI in my portfolio?

With a correlation of 0.94, DVRE and IYRI 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 ETF is better, DVRE or IYRI?

On fees, IYRI is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DVRE or IYRI?

IYRI is cheaper with a 0.68% expense ratio, compared with 0.89% for DVRE.

Which ETF pays a higher dividend yield, DVRE or IYRI?

IYRI has the higher dividend yield at 11.96%, compared with 0.88% for DVRE.

What is the main difference between DVRE and IYRI?

DVRE is categorized as REIT, while IYRI is Derivative Income. They also come from different issuers: WEBs and Neos. Their fees differ too: 0.89% for DVRE and 0.68% for IYRI.