IYR vs. IWD
IYR (iShares U.S. Real Estate ETF) and IWD (iShares Russell 1000 Value ETF) are both exchange-traded funds - IYR is a REIT fund tracking the Dow Jones U.S. Real Estate Index, while IWD is a Large Cap Value Equities fund tracking the Russell 1000 Value Index. Both are passively managed. Over the past 10 years, IYR returned 5.75%/yr vs 11.56%/yr for IWD. A 0.67 correlation means they provide meaningful diversification when combined. IYR charges 0.42%/yr vs 0.18%/yr for IWD.
Performance
IYR vs. IWD - Performance Comparison
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Returns By Period
In the year-to-date period, IYR achieves a 10.64% return, which is significantly lower than IWD's 16.71% return. Over the past 10 years, IYR has underperformed IWD with an annualized return of 5.75%, while IWD has yielded a comparatively higher 11.56% annualized return.
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
- 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 vs. IWD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Correlation
The correlation between IYR and IWD 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 IYR and IWD 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
IYR vs. IWD — Risk / Return Rank
IYR
IWD
IYR vs. IWD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Real Estate ETF (IYR) and iShares Russell 1000 Value ETF (IWD). 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 | IWD | 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 | 1.16 | 1.50 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 4.60 | -3.24 |
| Martin ratioReturn relative to average drawdown | 4.24 | 19.12 | -14.88 |
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Drawdowns
IYR vs. IWD - Drawdown Comparison
The maximum IYR drawdown since its inception was -74.13%, which is greater than IWD's maximum drawdown of -60.10%. Use the drawdown chart below to compare losses from any high point for IYR and IWD.
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Drawdown Indicators
| IYR | IWD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.13% | -60.10% | -14.03% |
Max Drawdown (1Y)Largest decline over 1 year | -8.54% | -6.79% | -1.75% |
Max Drawdown (3Y)Largest decline over 3 years | -17.52% | -15.71% | -1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -33.75% | -19.04% | -14.71% |
Max Drawdown (10Y)Largest decline over 10 years | -42.32% | -38.51% | -3.81% |
Current DrawdownCurrent decline from peak | -0.75% | 0.00% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -12.89% | -8.64% | -4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 1.63% | +1.10% |
Volatility
IYR vs. IWD - Volatility Comparison
iShares U.S. Real Estate ETF (IYR) has a higher volatility of 4.82% compared to iShares Russell 1000 Value ETF (IWD) at 4.04%. This indicates that IYR's price experiences larger fluctuations and is considered to be riskier than IWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYR | IWD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.82% | 4.04% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 9.90% | 8.55% | +1.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.60% | 11.19% | +2.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.76% | 14.88% | +3.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.34% | 17.32% | +3.02% |
IYR vs. IWD - Expense Ratio Comparison
IYR has a 0.42% expense ratio, which is higher than IWD's 0.18% expense ratio.
Dividends
IYR vs. IWD - Dividend Comparison
IYR's dividend yield for the trailing twelve months is around 2.67%, more than IWD's 1.78% 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
IYR and IWD 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, IYR dropped -74.13% vs IWD's -60.10%.
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.
IYR is categorized as REIT, while IWD is Large Cap Value Equities. IYR tracks Dow Jones U.S. Real Estate Index, while IWD tracks Russell 1000 Value Index. Their fees differ too: 0.42% for IYR and 0.18% for IWD.
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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