IYR vs. IVR
IYR (iShares U.S. Real Estate ETF) is REIT fund tracking the Dow Jones U.S. Real Estate Index, while IVR (Invesco Mortgage Capital Inc.) is a stock. Over the past 10 years, IYR returned 5.47%/yr vs -11.91%/yr for IVR. At a 0.48 correlation, their price movements are largely independent.
Performance
IYR vs. IVR - Performance Comparison
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Returns By Period
In the year-to-date period, IYR achieves a 6.81% return, which is significantly higher than IVR's -0.24% return. Over the past 10 years, IYR has outperformed IVR with an annualized return of 5.47%, while IVR has yielded a comparatively lower -11.91% annualized return.
IYR
- 1D
- 0.01%
- 1M
- -1.60%
- YTD
- 6.81%
- 6M
- 5.67%
- 1Y
- 8.44%
- 3Y*
- 8.68%
- 5Y*
- 2.02%
- 10Y*
- 5.47%
IVR
- 1D
- -0.38%
- 1M
- -1.73%
- YTD
- -0.24%
- 6M
- 6.90%
- 1Y
- 27.80%
- 3Y*
- 7.87%
- 5Y*
- -10.88%
- 10Y*
- -11.91%
IYR vs. IVR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYR iShares U.S. Real Estate ETF | 6.81% | 3.38% | 4.41% | 11.89% | -25.51% | 38.74% | -5.23% | 28.21% | -4.33% | 9.31% |
IVR Invesco Mortgage Capital Inc. | -0.24% | 24.87% | 9.03% | -14.30% | -44.56% | -9.34% | -72.54% | 28.97% | -6.81% | 34.61% |
Correlation
The correlation between IYR and IVR is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2009 | 0.48 |
The correlation between IYR and IVR shifts across timeframes, from 0.38 (1 year) to 0.52 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IYR vs. IVR — Risk / Return Rank
IYR
IVR
IYR vs. IVR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Real Estate ETF (IYR) and Invesco Mortgage Capital Inc. (IVR). 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.
| IYR | IVR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.23 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | 1.69 | -0.70 |
| Martin ratioReturn relative to average drawdown | 3.10 | 4.73 | -1.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IYR | IVR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.64 | 1.24 | -0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | -0.30 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | -0.21 | +0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | -0.07 | +0.40 |
Drawdowns
IYR vs. IVR - Drawdown Comparison
The maximum IYR drawdown since its inception was -74.13%, smaller than the maximum IVR drawdown of -92.55%. Use the drawdown chart below to compare losses from any high point for IYR and IVR.
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Drawdown Indicators
| IYR | IVR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.13% | -92.55% | +18.42% |
Max Drawdown (1Y)Largest decline over 1 year | -8.54% | -16.54% | +8.00% |
Max Drawdown (3Y)Largest decline over 3 years | -17.52% | -45.38% | +27.86% |
Max Drawdown (5Y)Largest decline over 5 years | -33.75% | -77.65% | +43.90% |
Max Drawdown (10Y)Largest decline over 10 years | -42.32% | -92.55% | +50.23% |
Current DrawdownCurrent decline from peak | -3.91% | -85.35% | +81.44% |
Average DrawdownAverage peak-to-trough decline | -12.91% | -35.82% | +22.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 5.90% | -3.17% |
Volatility
IYR vs. IVR - Volatility Comparison
The current volatility for iShares U.S. Real Estate ETF (IYR) is 3.69%, while Invesco Mortgage Capital Inc. (IVR) has a volatility of 4.38%. This indicates that IYR experiences smaller price fluctuations and is considered to be less risky than IVR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYR | IVR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.69% | 4.38% | -0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 9.35% | 17.36% | -8.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.19% | 22.60% | -9.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.71% | 36.38% | -17.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.31% | 56.15% | -35.84% |
Dividends
IYR vs. IVR - Dividend Comparison
IYR's dividend yield for the trailing twelve months is around 2.25%, less than IVR's 21.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVR Invesco Mortgage Capital Inc. | 21.03% | 16.41% | 19.88% | 25.40% | 26.32% | 12.59% | 31.66% | 11.11% | 14.95% | 9.14% | 10.96% | 13.72% |
IYR iShares U.S. Real Estate ETF | 2.25% | 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
IYR and IVR have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVR has higher volatility (4.38%) compared to IYR (3.69%). In terms of maximum drawdown, IYR dropped -74.13% vs IVR's -92.55%.
IVR currently has the higher Sharpe Ratio (1.24 vs 0.64), 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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