GQRE vs. BYRE

Last updated Jun 4, 2026

GQRE (FlexShares Global Quality Real Estate Index Fund) and BYRE (Principal Real Estate Active Opportunities ETF) are both REIT funds. GQRE is passively managed, while BYRE is actively managed. Over the past 3 years, GQRE returned 10.30%/yr vs 8.77%/yr for BYRE. Their correlation of 0.91 suggests significant overlap in exposure. GQRE charges 0.45%/yr vs 0.65%/yr for BYRE.

Performance

GQRE vs. BYRE - Performance Comparison

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

Returns By Period

In the year-to-date period, GQRE achieves a 7.34% return, which is significantly lower than BYRE's 9.88% return.

GQRE

• 1D: -0.36%
• 1M: -1.32%
• YTD: 7.34%
• 6M: 7.63%
• 1Y: 11.71%
• 3Y*: 10.30%
• 5Y*: 1.99%
• 10Y*: 3.78%

BYRE

• 1D: -0.46%
• 1M: -1.03%
• YTD: 9.88%
• 6M: 9.41%
• 1Y: 8.56%
• 3Y*: 8.77%
• 5Y*: —
• 10Y*: —

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

GQRE vs. BYRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GQRE FlexShares Global Quality Real Estate Index Fund	7.34%	8.27%	6.09%	9.21%	-10.63%
BYRE Principal Real Estate Active Opportunities ETF	9.88%	2.35%	4.18%	10.82%	-9.01%

Correlation

The correlation between GQRE and BYRE is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (All Time) Calculated using the full available price history since May 20, 2022	0.91

The correlation between GQRE and BYRE has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

GQRE vs. BYRE - Sectors Allocation Comparison

Sectors	GQRE	BYRE
Real Estate	87.9%	95.9%
Financial Services	2.0%	2.3%
Consumer Cyclical	1.0%	-
Technology	0.8%	-
Healthcare	0.6%	0.2%
Consumer Defensive	0.5%	-
Utilities	0.5%	-
Communication Services	0.5%	-
Industrials	0.2%	0.3%
Basic Materials	0.0%	-
Energy	-	-

Return for Risk

GQRE vs. BYRE — Risk / Return Rank

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

GQRE

GQRE Risk / Return Rank: 27
GQRE Sharpe Ratio Rank: 28
GQRE Sortino Ratio Rank: 26
GQRE Omega Ratio Rank: 26
GQRE Calmar Ratio Rank: 25
GQRE Martin Ratio Rank: 30

BYRE

BYRE Risk / Return Rank: 21
BYRE Sharpe Ratio Rank: 21
BYRE Sortino Ratio Rank: 20
BYRE Omega Ratio Rank: 20
BYRE Calmar Ratio Rank: 24
BYRE Martin Ratio Rank: 23

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.

GQRE vs. BYRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Global Quality Real Estate Index Fund (GQRE) 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.

	GQRE	BYRE	Difference
Sharpe ratio: Return per unit of total volatility	1.01	0.69	+0.32
Sortino ratio: Return per unit of downside risk	1.43	1.00	+0.43
Omega ratio: Gain probability vs. loss probability	1.18	1.13	+0.05
Calmar ratio: Return relative to maximum drawdown	1.16	1.11	+0.05
Martin ratio: Return relative to average drawdown	4.42	2.79	+1.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GQRE vs. BYRE - Sharpe Ratio Comparison

The current GQRE Sharpe Ratio is 1.01, which is higher than the BYRE Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of GQRE and BYRE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GQRE	BYRE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	0.69	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.23	+0.06

Drawdowns

GQRE vs. BYRE - Drawdown Comparison

The maximum GQRE drawdown since its inception was -41.87%, which is greater than BYRE's maximum drawdown of -25.70%. Use the drawdown chart below to compare losses from any high point for GQRE and BYRE.

Drawdown Indicators

	GQRE	BYRE	Difference
Max Drawdown Largest peak-to-trough decline	-41.87%	-25.70%	-16.17%
Max Drawdown (1Y) Largest decline over 1 year	-10.15%	-7.76%	-2.39%
Max Drawdown (3Y) Largest decline over 3 years	-16.17%	-15.20%	-0.97%
Max Drawdown (5Y) Largest decline over 5 years	-35.08%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.87%	—	—
Current Drawdown Current decline from peak	-3.43%	-3.43%	0.00%
Average Drawdown Average peak-to-trough decline	-9.24%	-9.59%	+0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	3.08%	-0.42%

Volatility

GQRE vs. BYRE - Volatility Comparison

FlexShares Global Quality Real Estate Index Fund (GQRE) and Principal Real Estate Active Opportunities ETF (BYRE) have volatilities of 3.53% and 3.47%, 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

	GQRE	BYRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	3.47%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	8.77%	8.94%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	11.64%	12.41%	-0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.45%	18.10%	-1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.66%	18.10%	-0.44%

GQRE vs. BYRE - Expense Ratio Comparison

GQRE has a 0.45% expense ratio, which is lower than BYRE's 0.65% expense ratio.

Dividends

GQRE vs. BYRE - Dividend Comparison

GQRE's dividend yield for the trailing twelve months is around 4.36%, more than BYRE's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BYRE Principal Real Estate Active Opportunities ETF	2.50%	2.71%	2.31%	2.63%	1.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GQRE FlexShares Global Quality Real Estate Index Fund	4.36%	4.75%	3.77%	2.91%	2.56%	2.36%	2.05%	4.29%	3.22%	1.97%	4.16%	2.32%

Frequently Asked Questions

Can I hold both GQRE and BYRE in my portfolio?

GQRE and BYRE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GQRE or BYRE?

GQRE has higher volatility (3.53%) compared to BYRE (3.47%). In terms of maximum drawdown, GQRE dropped -41.87% vs BYRE's -25.70%.

Which ETF is better, GQRE or BYRE?

On 3-year performance, GQRE leads with 10.30% vs 8.77% for BYRE. On fees, GQRE is cheaper at 0.45% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GQRE or BYRE?

Over the 3-year period, GQRE has performed better with a 10.30% return vs 8.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GQRE or BYRE?

GQRE is cheaper with a 0.45% expense ratio, compared with 0.65% for BYRE.

Which ETF pays a higher dividend yield, GQRE or BYRE?

GQRE has the higher dividend yield at 4.36%, compared with 2.50% for BYRE.

What is the main difference between GQRE and BYRE?

They also come from different issuers: Northern Trust and Principal. Their fees differ too: 0.45% for GQRE and 0.65% for BYRE.

Which has better risk-adjusted returns?

GQRE currently has the higher Sharpe Ratio (1.01 vs 0.69), 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.