IYR vs. BBRE
IYR (iShares U.S. Real Estate ETF) and BBRE (JPMorgan BetaBuilders MSCI US REIT ETF) are both REIT funds - IYR tracks the Dow Jones U.S. Real Estate Capped Index while BBRE tracks the MSCI US REIT Index. Both are passively managed. Over the past 5 years, IYR returned 2.71%/yr vs 5.12%/yr for BBRE. With a 0.95 correlation, they move nearly in lockstep. IYR charges 0.38%/yr vs 0.11%/yr for BBRE.
Performance
IYR vs. BBRE - Performance Comparison
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Returns By Period
In the year-to-date period, IYR achieves a 10.54% return, which is significantly lower than BBRE's 16.14% return.
IYR
- 1D
- 1.36%
- 1M
- 0.76%
- YTD
- 10.54%
- 6M
- 10.95%
- 1Y
- 9.94%
- 3Y*
- 10.59%
- 5Y*
- 2.71%
- 10Y*
- 5.75%
BBRE
- 1D
- 0.74%
- 1M
- 1.26%
- YTD
- 16.14%
- 6M
- 16.77%
- 1Y
- 16.90%
- 3Y*
- 13.41%
- 5Y*
- 5.12%
- 10Y*
- —
IYR vs. BBRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IYR iShares U.S. Real Estate ETF | 10.54% | 3.38% | 4.41% | 11.89% | -25.51% | 38.74% | -5.23% | 28.21% | -2.81% |
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 16.14% | 2.09% | 8.24% | 13.85% | -24.68% | 42.99% | -7.55% | 26.06% | -2.41% |
Correlation
The correlation between IYR and BBRE is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2018 | 0.95 |
The correlation between IYR and BBRE has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
IYR vs. BBRE — Risk / Return Rank
IYR
BBRE
IYR vs. BBRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Real Estate ETF (IYR) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE). 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.
| IYR | BBRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.21 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 2.10 | -0.93 |
| Martin ratioReturn relative to average drawdown | 3.62 | 6.60 | -2.98 |
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Drawdowns
IYR vs. BBRE - Drawdown Comparison
The maximum IYR drawdown since its inception was -74.13%, which is greater than BBRE's maximum drawdown of -43.61%. Use the drawdown chart below to compare losses from any high point for IYR and BBRE.
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Drawdown Indicators
| IYR | BBRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.13% | -43.61% | -30.52% |
Max Drawdown (1Y)Largest decline over 1 year | -8.54% | -8.07% | -0.47% |
Max Drawdown (3Y)Largest decline over 3 years | -17.52% | -18.92% | +1.40% |
Max Drawdown (5Y)Largest decline over 5 years | -33.75% | -31.15% | -2.60% |
Max Drawdown (10Y)Largest decline over 10 years | -42.32% | — | — |
Current DrawdownCurrent decline from peak | -0.84% | -0.91% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -12.88% | -10.46% | -2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 2.57% | +0.18% |
Volatility
IYR vs. BBRE - Volatility Comparison
iShares U.S. Real Estate ETF (IYR) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) have volatilities of 5.39% and 5.19%, 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.
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Volatility by Period
| IYR | BBRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.39% | 5.19% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 10.34% | 10.23% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.93% | 13.98% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.78% | 18.81% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.37% | 22.54% | -2.17% |
IYR vs. BBRE - Expense Ratio Comparison
IYR has a 0.38% expense ratio, which is higher than BBRE's 0.11% expense ratio.
Dividends
IYR vs. BBRE - Dividend Comparison
IYR's dividend yield for the trailing twelve months is around 2.20%, less than BBRE's 2.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 2.70% | 3.24% | 3.19% | 3.68% | 2.62% | 1.70% | 3.17% | 2.19% | 1.96% | 0.00% | 0.00% | 0.00% |
IYR iShares U.S. Real Estate ETF | 2.20% | 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
With a correlation of 0.96, IYR and BBRE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IYR has higher volatility (5.39%) compared to BBRE (5.19%). In terms of maximum drawdown, IYR dropped -74.13% vs BBRE's -43.61%.
On 5-year performance, BBRE leads with 5.12% vs 2.71% for IYR. On fees, BBRE is cheaper at 0.11% per year. On volatility, BBRE has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BBRE has performed better with a 5.12% return vs 2.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBRE is cheaper with a 0.11% expense ratio, compared with 0.38% for IYR.
BBRE has the higher dividend yield at 2.70%, compared with 2.20% for IYR.
IYR tracks Dow Jones U.S. Real Estate Capped Index, while BBRE tracks MSCI US REIT Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.38% for IYR and 0.11% for BBRE.
BBRE currently has the higher Sharpe Ratio (1.22 vs 0.72), 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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