ITB vs. LEN

Last updated Jun 4, 2026

ITB (iShares U.S. Home Construction ETF) is Building & Construction fund tracking the Dow Jones U.S. Select Home Construction Index, while LEN (Lennar Corporation) is a stock. Over the past 10 years, ITB returned 13.64%/yr vs 8.58%/yr for LEN. Their correlation of 0.90 suggests significant overlap in exposure.

Performance

ITB vs. LEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Home Construction ETF (ITB) and Lennar Corporation (LEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ITB achieves a -3.80% return, which is significantly higher than LEN's -12.12% return. Over the past 10 years, ITB has outperformed LEN with an annualized return of 13.64%, while LEN has yielded a comparatively lower 8.58% annualized return.

ITB

• 1D: -0.85%
• 1M: 1.29%
• YTD: -3.80%
• 6M: -12.12%
• 1Y: 4.04%
• 3Y*: 7.27%
• 5Y*: 6.42%
• 10Y*: 13.64%

LEN

• 1D: -1.58%
• 1M: 6.05%
• YTD: -12.12%
• 6M: -32.14%
• 1Y: -14.57%
• 3Y*: -4.76%
• 5Y*: 0.65%
• 10Y*: 8.58%

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

ITB vs. LEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ITB iShares U.S. Home Construction ETF	-3.80%	-5.26%	2.06%	68.91%	-26.26%	49.25%	26.42%	48.70%	-30.92%	59.65%
LEN Lennar Corporation	-12.12%	-20.80%	-7.32%	66.92%	-20.64%	53.99%	37.97%	42.96%	-37.91%	50.28%

Correlation

The correlation between ITB and LEN 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	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since May 8, 2006	0.90

The correlation between ITB and LEN has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

ITB vs. LEN — Risk / Return Rank

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

ITB

ITB Risk / Return Rank: 11
ITB Sharpe Ratio Rank: 10
ITB Sortino Ratio Rank: 11
ITB Omega Ratio Rank: 11
ITB Calmar Ratio Rank: 10
ITB Martin Ratio Rank: 10

LEN

LEN Risk / Return Rank: 25
LEN Sharpe Ratio Rank: 23
LEN Sortino Ratio Rank: 22
LEN Omega Ratio Rank: 23
LEN Calmar Ratio Rank: 29
LEN Martin Ratio Rank: 28

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.

ITB vs. LEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Home Construction ETF (ITB) and Lennar Corporation (LEN). 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.

	ITB	LEN	Difference
Sharpe ratio: Return per unit of total volatility	0.14	-0.39	+0.53
Sortino ratio: Return per unit of downside risk	0.46	-0.35	+0.81
Omega ratio: Gain probability vs. loss probability	1.05	0.96	+0.09
Calmar ratio: Return relative to maximum drawdown	0.16	-0.35	+0.51
Martin ratio: Return relative to average drawdown	0.31	-0.68	+0.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITB vs. LEN - Sharpe Ratio Comparison

The current ITB Sharpe Ratio is 0.14, which is higher than the LEN Sharpe Ratio of -0.39. The chart below compares the historical Sharpe Ratios of ITB and LEN, 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

	ITB	LEN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.14	-0.39	+0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.02	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.23	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.32	-0.21

Drawdowns

ITB vs. LEN - Drawdown Comparison

The maximum ITB drawdown since its inception was -86.53%, smaller than the maximum LEN drawdown of -94.28%. Use the drawdown chart below to compare losses from any high point for ITB and LEN.

Drawdown Indicators

	ITB	LEN	Difference
Max Drawdown Largest peak-to-trough decline	-86.53%	-94.28%	+7.75%
Max Drawdown (1Y) Largest decline over 1 year	-26.04%	-41.39%	+15.35%
Max Drawdown (3Y) Largest decline over 3 years	-33.35%	-54.51%	+21.16%
Max Drawdown (5Y) Largest decline over 5 years	-40.55%	-54.51%	+13.96%
Max Drawdown (10Y) Largest decline over 10 years	-52.10%	-58.80%	+6.70%
Current Drawdown Current decline from peak	-27.07%	-50.55%	+23.48%
Average Drawdown Average peak-to-trough decline	-37.10%	-26.28%	-10.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.09%	21.38%	-8.29%

Volatility

ITB vs. LEN - Volatility Comparison

The current volatility for iShares U.S. Home Construction ETF (ITB) is 8.17%, while Lennar Corporation (LEN) has a volatility of 10.10%. This indicates that ITB experiences smaller price fluctuations and is considered to be less risky than LEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITB	LEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.17%	10.10%	-1.93%
Volatility (6M) Calculated over the trailing 6-month period	20.42%	26.46%	-6.04%
Volatility (1Y) Calculated over the trailing 1-year period	29.47%	37.21%	-7.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.19%	34.45%	-5.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.00%	37.23%	-7.23%

Dividends

ITB vs. LEN - Dividend Comparison

ITB's dividend yield for the trailing twelve months is around 1.23%, less than LEN's 2.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITB iShares U.S. Home Construction ETF	1.23%	1.67%	0.46%	0.48%	0.86%	0.37%	0.46%	0.50%	0.63%	0.28%	0.43%	0.34%
LEN Lennar Corporation	2.24%	1.95%	1.47%	1.01%	1.66%	0.86%	0.82%	0.29%	0.41%	0.25%	0.37%	0.33%

Frequently Asked Questions

Can I hold both ITB and LEN in my portfolio?

ITB and LEN 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, ITB or LEN?

LEN has higher volatility (10.10%) compared to ITB (8.17%). In terms of maximum drawdown, ITB dropped -86.53% vs LEN's -94.28%.

Which has better risk-adjusted returns?

ITB currently has the higher Sharpe Ratio (0.14 vs -0.39), 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.