FRI vs. IVRA
Compare and contrast key facts about First Trust S&P REIT Index Fund (FRI) and Invesco Real Assets ESG ETF (IVRA).
FRI and IVRA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FRI is a passively managed fund by First Trust that tracks the performance of the S&P United States REIT. It was launched on May 8, 2007. IVRA is an actively managed fund by Invesco. It was launched on Dec 22, 2020.
Performance
FRI vs. IVRA - Performance Comparison
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FRI vs. IVRA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FRI First Trust S&P REIT Index Fund | 4.55% | 2.80% | 7.84% | 13.33% | -24.66% | 42.55% | 1.65% |
IVRA Invesco Real Assets ESG ETF | 11.70% | 10.20% | 13.07% | 9.13% | -10.00% | 32.74% | 1.58% |
Returns By Period
In the year-to-date period, FRI achieves a 4.55% return, which is significantly lower than IVRA's 11.70% return.
FRI
- 1D
- 1.58%
- 1M
- -5.55%
- YTD
- 4.55%
- 6M
- 2.82%
- 1Y
- 6.47%
- 3Y*
- 8.59%
- 5Y*
- 5.00%
- 10Y*
- 4.97%
IVRA
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 11.70%
- 6M
- 10.98%
- 1Y
- 16.21%
- 3Y*
- 14.07%
- 5Y*
- 9.85%
- 10Y*
- —
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FRI vs. IVRA - Expense Ratio Comparison
FRI has a 0.50% expense ratio, which is lower than IVRA's 0.59% expense ratio.
Return for Risk
FRI vs. IVRA — Risk / Return Rank
FRI
IVRA
FRI vs. IVRA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust S&P REIT Index Fund (FRI) 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.
| FRI | IVRA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.39 | 1.16 | -0.77 |
Sortino ratioReturn per unit of downside risk | 0.64 | 1.65 | -1.01 |
Omega ratioGain probability vs. loss probability | 1.09 | 1.25 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 0.59 | 1.36 | -0.77 |
Martin ratioReturn relative to average drawdown | 2.57 | 7.55 | -4.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FRI | IVRA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.39 | 1.16 | -0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.59 | -0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.74 | -0.58 |
Correlation
The correlation between FRI and IVRA is 0.85, 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
FRI vs. IVRA - Dividend Comparison
FRI's dividend yield for the trailing twelve months is around 2.78%, less than IVRA's 17.39% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRI First Trust S&P REIT Index Fund | 2.78% | 2.99% | 3.33% | 3.24% | 2.52% | 1.44% | 3.08% | 2.28% | 3.21% | 2.82% | 3.27% | 2.66% |
IVRA Invesco Real Assets ESG ETF | 17.39% | 5.68% | 3.71% | 2.47% | 2.30% | 3.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FRI vs. IVRA - Drawdown Comparison
The maximum FRI drawdown since its inception was -71.95%, which is greater than IVRA's maximum drawdown of -25.99%. Use the drawdown chart below to compare losses from any high point for FRI and IVRA.
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Drawdown Indicators
| FRI | IVRA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.95% | -25.99% | -45.96% |
Max Drawdown (1Y)Largest decline over 1 year | -13.12% | -12.39% | -0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -31.21% | -25.99% | -5.22% |
Max Drawdown (10Y)Largest decline over 10 years | -44.16% | — | — |
Current DrawdownCurrent decline from peak | -5.88% | -0.92% | -4.96% |
Average DrawdownAverage peak-to-trough decline | -13.82% | -7.48% | -6.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 2.23% | +0.76% |
Volatility
FRI vs. IVRA - Volatility Comparison
First Trust S&P REIT Index Fund (FRI) has a higher volatility of 4.33% compared to Invesco Real Assets ESG ETF (IVRA) at 0.00%. This indicates that FRI's price experiences larger fluctuations and is considered to be riskier than IVRA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRI | IVRA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.33% | 0.00% | +4.33% |
Volatility (6M)Calculated over the trailing 6-month period | 9.01% | 7.18% | +1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.75% | 14.14% | +2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.67% | 16.73% | +1.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.06% | 16.66% | +4.40% |