ICF vs. GQRE

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Cohen & Steers REIT ETF (ICF) and FlexShares Global Quality Real Estate Index Fund (GQRE).

ICF and GQRE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ICF is a passively managed fund by iShares that tracks the performance of the Cohen & Steers Realty Majors Index. It was launched on Jan 29, 2001. GQRE is a passively managed fund by Northern Trust that tracks the performance of the Northern Trust Global Quality Real Estate (NR). It was launched on Nov 6, 2013. Both ICF and GQRE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ICF vs. GQRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Cohen & Steers REIT ETF (ICF) and FlexShares Global Quality Real Estate Index Fund (GQRE). The values are adjusted to include any dividend payments, if applicable.

ICF vs. GQRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICF iShares Cohen & Steers REIT ETF	4.03%	1.85%	5.30%	10.36%	-26.12%	44.17%	-5.43%	25.48%	-2.55%	4.90%
GQRE FlexShares Global Quality Real Estate Index Fund	1.64%	8.27%	6.09%	9.21%	-27.22%	32.01%	-9.17%	21.84%	-8.88%	13.60%

Returns By Period

In the year-to-date period, ICF achieves a 4.03% return, which is significantly higher than GQRE's 1.64% return. Over the past 10 years, ICF has outperformed GQRE with an annualized return of 4.70%, while GQRE has yielded a comparatively lower 3.34% annualized return.

ICF

• 1D: 1.63%
• 1M: -6.14%
• YTD: 4.03%
• 6M: 1.90%
• 1Y: 3.34%
• 3Y*: 6.55%
• 5Y*: 3.65%
• 10Y*: 4.70%

GQRE

• 1D: 1.62%
• 1M: -8.26%
• YTD: 1.64%
• 6M: 0.78%
• 1Y: 7.98%
• 3Y*: 8.06%
• 5Y*: 2.74%
• 10Y*: 3.34%

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

ICF vs. GQRE - Expense Ratio Comparison

ICF has a 0.34% expense ratio, which is lower than GQRE's 0.45% expense ratio.

GQRE

FlexShares Global Quality Real Estate Index Fund

ICF

iShares Cohen & Steers REIT ETF

Return for Risk

ICF vs. GQRE — Risk / Return Rank

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

ICF

ICF Risk / Return Rank: 19
ICF Sharpe Ratio Rank: 18
ICF Sortino Ratio Rank: 17
ICF Omega Ratio Rank: 17
ICF Calmar Ratio Rank: 21
ICF Martin Ratio Rank: 23

GQRE

GQRE Risk / Return Rank: 31
GQRE Sharpe Ratio Rank: 31
GQRE Sortino Ratio Rank: 30
GQRE Omega Ratio Rank: 29
GQRE Calmar Ratio Rank: 32
GQRE Martin Ratio Rank: 34

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.

ICF vs. GQRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Cohen & Steers REIT ETF (ICF) and FlexShares Global Quality Real Estate Index Fund (GQRE). 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.

	ICF	GQRE	Difference
Sharpe ratio Return per unit of total volatility	0.21	0.55	-0.34
Sortino ratio Return per unit of downside risk	0.39	0.85	-0.46
Omega ratio Gain probability vs. loss probability	1.05	1.12	-0.06
Calmar ratio Return relative to maximum drawdown	0.38	0.76	-0.39
Martin ratio Return relative to average drawdown	1.37	3.07	-1.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICF vs. GQRE - Sharpe Ratio Comparison

The current ICF Sharpe Ratio is 0.21, which is lower than the GQRE Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of ICF and GQRE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ICF	GQRE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.21	0.55	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.17	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.19	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.27	+0.03

Correlation

The correlation between ICF and GQRE is 0.86, 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

ICF vs. GQRE - Dividend Comparison

ICF's dividend yield for the trailing twelve months is around 2.67%, less than GQRE's 4.60% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICF iShares Cohen & Steers REIT ETF	2.67%	2.88%	2.66%	2.76%	2.64%	1.82%	2.38%	2.55%	3.20%	3.10%	4.21%	3.30%
GQRE FlexShares Global Quality Real Estate Index Fund	4.60%	4.75%	3.77%	2.91%	2.56%	2.36%	2.05%	4.29%	3.22%	1.97%	4.16%	2.32%

Drawdowns

ICF vs. GQRE - Drawdown Comparison

The maximum ICF drawdown since its inception was -76.74%, which is greater than GQRE's maximum drawdown of -41.87%. Use the drawdown chart below to compare losses from any high point for ICF and GQRE.

Drawdown Indicators

	ICF	GQRE	Difference
Max Drawdown Largest peak-to-trough decline	-76.74%	-41.87%	-34.87%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-11.19%	-0.58%
Max Drawdown (5Y) Largest decline over 5 years	-34.74%	-35.08%	+0.34%
Max Drawdown (10Y) Largest decline over 10 years	-40.22%	-41.87%	+1.65%
Current Drawdown Current decline from peak	-9.04%	-8.26%	-0.78%
Average Drawdown Average peak-to-trough decline	-14.26%	-9.33%	-4.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	2.79%	+0.45%

Volatility

ICF vs. GQRE - Volatility Comparison

iShares Cohen & Steers REIT ETF (ICF) and FlexShares Global Quality Real Estate Index Fund (GQRE) have volatilities of 4.43% and 4.66%, 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

	ICF	GQRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	4.66%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	9.64%	8.25%	+1.39%
Volatility (1Y) Calculated over the trailing 1-year period	16.33%	14.56%	+1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.91%	16.44%	+2.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.59%	17.65%	+2.94%