IQRA vs. FPRO

Last updated Apr 1, 2026

Compare and contrast key facts about IQ CBRE Real Assets ETF (IQRA) and Fidelity Real Estate Investment ETF (FPRO).

IQRA and FPRO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IQRA is an actively managed fund by IndexIQ. It was launched on May 9, 2023. FPRO is an actively managed fund by Fidelity. It was launched on Feb 2, 2021.

Performance

IQRA vs. FPRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IQ CBRE Real Assets ETF (IQRA) and Fidelity Real Estate Investment ETF (FPRO). The values are adjusted to include any dividend payments, if applicable.

IQRA vs. FPRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IQRA IQ CBRE Real Assets ETF	4.49%	12.42%	5.58%	2.36%
FPRO Fidelity Real Estate Investment ETF	3.28%	2.60%	5.63%	7.66%

Returns By Period

In the year-to-date period, IQRA achieves a 4.49% return, which is significantly higher than FPRO's 3.28% return.

IQRA

• 1D: 1.36%
• 1M: -6.36%
• YTD: 4.49%
• 6M: 5.13%
• 1Y: 13.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FPRO

• 1D: 1.39%
• 1M: -5.97%
• YTD: 3.28%
• 6M: 2.58%
• 1Y: 2.28%
• 3Y*: 6.41%
• 5Y*: 4.08%
• 10Y*: —

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

IQRA vs. FPRO - Expense Ratio Comparison

IQRA has a 0.65% expense ratio, which is higher than FPRO's 0.59% expense ratio.

IQRA

IQ CBRE Real Assets ETF

FPRO

Fidelity Real Estate Investment ETF

Return for Risk

IQRA vs. FPRO — Risk / Return Rank

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

IQRA

IQRA Risk / Return Rank: 57
IQRA Sharpe Ratio Rank: 58
IQRA Sortino Ratio Rank: 55
IQRA Omega Ratio Rank: 55
IQRA Calmar Ratio Rank: 55
IQRA Martin Ratio Rank: 62

FPRO

FPRO Risk / Return Rank: 17
FPRO Sharpe Ratio Rank: 16
FPRO Sortino Ratio Rank: 15
FPRO Omega Ratio Rank: 15
FPRO Calmar Ratio Rank: 18
FPRO Martin Ratio Rank: 20

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.

IQRA vs. FPRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ CBRE Real Assets ETF (IQRA) and Fidelity Real Estate Investment ETF (FPRO). 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.

	IQRA	FPRO	Difference
Sharpe ratio Return per unit of total volatility	1.05	0.14	+0.91
Sortino ratio Return per unit of downside risk	1.47	0.31	+1.17
Omega ratio Gain probability vs. loss probability	1.21	1.04	+0.17
Calmar ratio Return relative to maximum drawdown	1.43	0.26	+1.17
Martin ratio Return relative to average drawdown	6.26	1.03	+5.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IQRA vs. FPRO - Sharpe Ratio Comparison

The current IQRA Sharpe Ratio is 1.05, which is higher than the FPRO Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of IQRA and FPRO, 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

	IQRA	FPRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	0.14	+0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.22	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.29	+0.39

Correlation

The correlation between IQRA and FPRO is 0.87, 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

IQRA vs. FPRO - Dividend Comparison

IQRA's dividend yield for the trailing twelve months is around 2.85%, more than FPRO's 2.74% yield.

	TTM	2025	2024	2023	2022	2021
IQRA IQ CBRE Real Assets ETF	2.85%	2.83%	3.53%	2.14%	0.00%	0.00%
FPRO Fidelity Real Estate Investment ETF	2.74%	2.69%	2.50%	2.83%	2.67%	1.69%

Drawdowns

IQRA vs. FPRO - Drawdown Comparison

The maximum IQRA drawdown since its inception was -15.70%, smaller than the maximum FPRO drawdown of -32.81%. Use the drawdown chart below to compare losses from any high point for IQRA and FPRO.

Drawdown Indicators

	IQRA	FPRO	Difference
Max Drawdown Largest peak-to-trough decline	-15.70%	-32.81%	+17.11%
Max Drawdown (1Y) Largest decline over 1 year	-9.78%	-12.51%	+2.73%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.81%	—
Current Drawdown Current decline from peak	-6.36%	-6.90%	+0.54%
Average Drawdown Average peak-to-trough decline	-3.16%	-13.03%	+9.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	3.15%	-0.92%

Volatility

IQRA vs. FPRO - Volatility Comparison

IQ CBRE Real Assets ETF (IQRA) and Fidelity Real Estate Investment ETF (FPRO) have volatilities of 4.51% and 4.34%, 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

	IQRA	FPRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	4.34%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	7.58%	9.25%	-1.67%
Volatility (1Y) Calculated over the trailing 1-year period	12.88%	16.46%	-3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.87%	18.64%	-5.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.87%	18.51%	-5.64%