IWD vs. IYR
IWD (iShares Russell 1000 Value ETF) and IYR (iShares U.S. Real Estate ETF) are both exchange-traded funds - IWD is a Large Cap Value Equities fund tracking the Russell 1000 Value Index, while IYR is a REIT fund tracking the Dow Jones U.S. Real Estate Index. Both are passively managed. Over the past 10 years, IWD returned 11.56%/yr vs 5.75%/yr for IYR. A 0.67 correlation means they provide meaningful diversification when combined. IWD charges 0.18%/yr vs 0.42%/yr for IYR.
Performance
IWD vs. IYR - Performance Comparison
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Returns By Period
In the year-to-date period, IWD achieves a 16.71% return, which is significantly higher than IYR's 10.64% return. Over the past 10 years, IWD has outperformed IYR with an annualized return of 11.56%, while IYR has yielded a comparatively lower 5.75% annualized return.
IWD
- 1D
- 1.00%
- 1M
- 5.33%
- YTD
- 16.71%
- 6M
- 16.30%
- 1Y
- 31.10%
- 3Y*
- 18.07%
- 5Y*
- 11.00%
- 10Y*
- 11.56%
IYR
- 1D
- -0.75%
- 1M
- 3.79%
- YTD
- 10.64%
- 6M
- 10.25%
- 1Y
- 11.55%
- 3Y*
- 9.07%
- 5Y*
- 2.62%
- 10Y*
- 5.75%
IWD vs. IYR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWD iShares Russell 1000 Value ETF | 16.71% | 15.68% | 14.17% | 11.34% | -7.75% | 24.95% | 2.73% | 26.12% | -8.45% | 13.45% |
IYR iShares U.S. Real Estate ETF | 10.64% | 3.38% | 4.41% | 11.89% | -25.51% | 38.74% | -5.23% | 28.21% | -4.33% | 9.31% |
Correlation
The correlation between IWD and IYR is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2000 | 0.67 |
The correlation between IWD and IYR shifts across timeframes, from 0.59 (1 year) to 0.73 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IWD vs. IYR — Risk / Return Rank
IWD
IYR
IWD vs. IYR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 1000 Value ETF (IWD) and iShares U.S. Real Estate ETF (IYR). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IWD | IYR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.94 | ||
| Sortino ratioReturn per unit of downside risk | +2.64 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.16 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 4.60 | 1.36 | +3.24 |
| Martin ratioReturn relative to average drawdown | 19.12 | 4.24 | +14.88 |
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Drawdowns
IWD vs. IYR - Drawdown Comparison
The maximum IWD drawdown since its inception was -60.10%, smaller than the maximum IYR drawdown of -74.13%. Use the drawdown chart below to compare losses from any high point for IWD and IYR.
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Drawdown Indicators
| IWD | IYR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.10% | -74.13% | +14.03% |
Max Drawdown (1Y)Largest decline over 1 year | -6.79% | -8.54% | +1.75% |
Max Drawdown (3Y)Largest decline over 3 years | -15.71% | -17.52% | +1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -19.04% | -33.75% | +14.71% |
Max Drawdown (10Y)Largest decline over 10 years | -38.51% | -42.32% | +3.81% |
Current DrawdownCurrent decline from peak | 0.00% | -0.75% | +0.75% |
Average DrawdownAverage peak-to-trough decline | -8.64% | -12.89% | +4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 2.73% | -1.10% |
Volatility
IWD vs. IYR - Volatility Comparison
The current volatility for iShares Russell 1000 Value ETF (IWD) is 4.04%, while iShares U.S. Real Estate ETF (IYR) has a volatility of 4.82%. This indicates that IWD experiences smaller price fluctuations and is considered to be less risky than IYR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWD | IYR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 4.82% | -0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 8.55% | 9.90% | -1.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.19% | 13.60% | -2.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.88% | 18.76% | -3.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.32% | 20.34% | -3.02% |
IWD vs. IYR - Expense Ratio Comparison
IWD has a 0.18% expense ratio, which is lower than IYR's 0.42% expense ratio.
Dividends
IWD vs. IYR - Dividend Comparison
IWD's dividend yield for the trailing twelve months is around 1.78%, less than IYR's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWD iShares Russell 1000 Value ETF | 1.78% | 1.69% | 1.87% | 2.02% | 2.15% | 1.62% | 2.05% | 2.45% | 2.71% | 2.09% | 2.25% | 2.47% |
IYR iShares U.S. Real Estate ETF | 2.67% | 2.48% | 2.57% | 2.75% | 2.92% | 2.06% | 2.58% | 3.05% | 3.53% | 3.73% | 4.41% | 3.92% |
Frequently Asked Questions
IWD and IYR have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYR has higher volatility (4.82%) compared to IWD (4.04%). In terms of maximum drawdown, IWD dropped -60.10% vs IYR's -74.13%.
On 10-year performance, IWD leads with 11.56% vs 5.75% for IYR. On fees, IWD is cheaper at 0.18% per year. On volatility, IWD has been the lower-risk option at 4.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IWD has performed better with a 11.56% return vs 5.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWD is cheaper with a 0.18% expense ratio, compared with 0.42% for IYR.
IYR has the higher dividend yield at 2.67%, compared with 1.78% for IWD.
IWD is categorized as Large Cap Value Equities, while IYR is REIT. IWD tracks Russell 1000 Value Index, while IYR tracks Dow Jones U.S. Real Estate Index. Their fees differ too: 0.18% for IWD and 0.42% for IYR.
IWD currently has the higher Sharpe Ratio (2.80 vs 0.86), 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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