GQRE vs. KBWY
GQRE (FlexShares Global Quality Real Estate Index Fund) and KBWY (Invesco KBW Premium Yield Equity REIT ETF) are both REIT funds - GQRE tracks the Northern Trust Global Quality Real Estate (NR) while KBWY tracks the KBW Premium Yield Equity REIT Index. Both are passively managed. Over the past 10 years, GQRE returned 3.78%/yr vs 1.18%/yr for KBWY. A 0.78 correlation means they provide meaningful diversification when combined. GQRE charges 0.45%/yr vs 0.35%/yr for KBWY.
Performance
GQRE vs. KBWY - Performance Comparison
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Returns By Period
In the year-to-date period, GQRE achieves a 7.34% return, which is significantly lower than KBWY's 17.06% return. Over the past 10 years, GQRE has outperformed KBWY with an annualized return of 3.78%, while KBWY has yielded a comparatively lower 1.18% annualized 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%
KBWY
- 1D
- -0.81%
- 1M
- 5.63%
- YTD
- 17.06%
- 6M
- 17.05%
- 1Y
- 22.51%
- 3Y*
- 9.10%
- 5Y*
- 2.15%
- 10Y*
- 1.18%
GQRE vs. KBWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GQRE FlexShares Global Quality Real Estate Index Fund | 7.34% | 8.27% | 6.09% | 9.21% | -27.22% | 32.01% | -9.17% | 21.84% | -8.88% | 13.60% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 17.06% | -5.30% | -3.49% | 12.88% | -19.00% | 31.22% | -25.83% | 23.36% | -18.20% | 0.81% |
Correlation
The correlation between GQRE and KBWY is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2013 | 0.78 |
The correlation between GQRE and KBWY has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.
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Return for Risk
GQRE vs. KBWY — Risk / Return Rank
GQRE
KBWY
GQRE vs. KBWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Global Quality Real Estate Index Fund (GQRE) and Invesco KBW Premium Yield Equity REIT ETF (KBWY). 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 | KBWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.23 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 2.45 | -1.29 |
| Martin ratioReturn relative to average drawdown | 4.42 | 5.82 | -1.40 |
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
| GQRE | KBWY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.01 | 1.38 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.10 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.21 | 0.04 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.20 | +0.10 |
Drawdowns
GQRE vs. KBWY - Drawdown Comparison
The maximum GQRE drawdown since its inception was -41.87%, smaller than the maximum KBWY drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for GQRE and KBWY.
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Drawdown Indicators
| GQRE | KBWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.87% | -57.68% | +15.81% |
Max Drawdown (1Y)Largest decline over 1 year | -10.15% | -9.24% | -0.91% |
Max Drawdown (3Y)Largest decline over 3 years | -16.17% | -29.93% | +13.76% |
Max Drawdown (5Y)Largest decline over 5 years | -35.08% | -32.29% | -2.79% |
Max Drawdown (10Y)Largest decline over 10 years | -41.87% | -57.68% | +15.81% |
Current DrawdownCurrent decline from peak | -3.43% | -10.82% | +7.39% |
Average DrawdownAverage peak-to-trough decline | -9.24% | -14.18% | +4.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 3.88% | -1.22% |
Volatility
GQRE vs. KBWY - Volatility Comparison
The current volatility for FlexShares Global Quality Real Estate Index Fund (GQRE) is 3.53%, while Invesco KBW Premium Yield Equity REIT ETF (KBWY) has a volatility of 4.73%. This indicates that GQRE experiences smaller price fluctuations and is considered to be less risky than KBWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GQRE | KBWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.53% | 4.73% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 8.77% | 11.61% | -2.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.64% | 16.44% | -4.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.45% | 21.61% | -5.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.66% | 27.05% | -9.39% |
GQRE vs. KBWY - Expense Ratio Comparison
GQRE has a 0.45% expense ratio, which is higher than KBWY's 0.35% expense ratio.
Dividends
GQRE vs. KBWY - Dividend Comparison
GQRE's dividend yield for the trailing twelve months is around 4.36%, less than KBWY's 8.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 8.64% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
Frequently Asked Questions
GQRE and KBWY have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KBWY has higher volatility (4.73%) compared to GQRE (3.53%). In terms of maximum drawdown, GQRE dropped -41.87% vs KBWY's -57.68%.
On 10-year performance, GQRE leads with 3.78% vs 1.18% for KBWY. On fees, KBWY is cheaper at 0.35% per year. On volatility, GQRE has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GQRE has performed better with a 3.78% return vs 1.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KBWY is cheaper with a 0.35% expense ratio, compared with 0.45% for GQRE.
KBWY has the higher dividend yield at 8.64%, compared with 4.36% for GQRE.
GQRE tracks Northern Trust Global Quality Real Estate (NR), while KBWY tracks KBW Premium Yield Equity REIT Index. They also come from different issuers: Northern Trust and Invesco. Their fees differ too: 0.45% for GQRE and 0.35% for KBWY.
KBWY currently has the higher Sharpe Ratio (1.38 vs 1.01), 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.
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