IYR vs. IYC
IYR (iShares U.S. Real Estate ETF) and IYC (iShares U.S. Consumer Discretionary ETF) are both exchange-traded funds - IYR is a REIT fund tracking the Dow Jones U.S. Real Estate Index, while IYC is a Consumer Discretionary Equities fund tracking the Dow Jones U.S. Consumer Services Index. Both are passively managed. Over the past 10 years, IYR returned 5.97%/yr vs 11.83%/yr for IYC. A 0.59 correlation means they provide meaningful diversification when combined. IYR charges 0.42%/yr vs 0.38%/yr for IYC.
Performance
IYR vs. IYC - Performance Comparison
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Returns By Period
In the year-to-date period, IYR achieves a 11.47% return, which is significantly higher than IYC's -1.40% return. Over the past 10 years, IYR has underperformed IYC with an annualized return of 5.97%, while IYC has yielded a comparatively higher 11.83% annualized return.
IYR
- 1D
- 0.89%
- 1M
- 3.00%
- YTD
- 11.47%
- 6M
- 11.46%
- 1Y
- 12.40%
- 3Y*
- 9.71%
- 5Y*
- 2.47%
- 10Y*
- 5.97%
IYC
- 1D
- 0.16%
- 1M
- -0.02%
- YTD
- -1.40%
- 6M
- -2.54%
- 1Y
- 6.51%
- 3Y*
- 14.17%
- 5Y*
- 6.41%
- 10Y*
- 11.83%
IYR vs. IYC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYR iShares U.S. Real Estate ETF | 11.47% | 3.38% | 4.41% | 11.89% | -25.51% | 38.74% | -5.23% | 28.21% | -4.33% | 9.31% |
IYC iShares U.S. Consumer Discretionary ETF | -1.40% | 7.85% | 27.54% | 34.03% | -31.78% | 19.65% | 24.58% | 27.36% | 1.76% | 19.87% |
Correlation
The correlation between IYR and IYC is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2000 | 0.59 |
The correlation between IYR and IYC shifts across timeframes, from 0.44 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IYR vs. IYC — Risk / Return Rank
IYR
IYC
IYR vs. IYC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Real Estate ETF (IYR) and iShares U.S. Consumer Discretionary ETF (IYC). 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 | IYC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.07 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 0.44 | +0.91 |
| Martin ratioReturn relative to average drawdown | 4.19 | 1.28 | +2.91 |
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Drawdowns
IYR vs. IYC - Drawdown Comparison
The maximum IYR drawdown since its inception was -74.13%, which is greater than IYC's maximum drawdown of -53.10%. Use the drawdown chart below to compare losses from any high point for IYR and IYC.
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Drawdown Indicators
| IYR | IYC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.13% | -53.10% | -21.03% |
Max Drawdown (1Y)Largest decline over 1 year | -8.54% | -11.97% | +3.43% |
Max Drawdown (3Y)Largest decline over 3 years | -17.52% | -21.62% | +4.10% |
Max Drawdown (5Y)Largest decline over 5 years | -33.75% | -35.90% | +2.15% |
Max Drawdown (10Y)Largest decline over 10 years | -42.32% | -35.90% | -6.42% |
Current DrawdownCurrent decline from peak | 0.00% | -5.12% | +5.12% |
Average DrawdownAverage peak-to-trough decline | -12.89% | -9.95% | -2.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 4.08% | -1.35% |
Volatility
IYR vs. IYC - Volatility Comparison
iShares U.S. Real Estate ETF (IYR) has a higher volatility of 4.80% compared to iShares U.S. Consumer Discretionary ETF (IYC) at 4.33%. This indicates that IYR's price experiences larger fluctuations and is considered to be riskier than IYC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYR | IYC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 4.33% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 9.87% | 10.74% | -0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.58% | 14.44% | -0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.76% | 20.74% | -1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.34% | 19.90% | +0.44% |
IYR vs. IYC - Expense Ratio Comparison
IYR has a 0.42% expense ratio, which is higher than IYC's 0.38% expense ratio.
Dividends
IYR vs. IYC - Dividend Comparison
IYR's dividend yield for the trailing twelve months is around 2.15%, more than IYC's 0.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYC iShares U.S. Consumer Discretionary ETF | 0.50% | 0.51% | 0.47% | 0.68% | 0.68% | 0.39% | 0.65% | 0.89% | 0.90% | 0.92% | 1.10% | 1.03% |
IYR iShares U.S. Real Estate ETF | 2.15% | 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 IYC have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYR has higher volatility (4.80%) compared to IYC (4.33%). In terms of maximum drawdown, IYR dropped -74.13% vs IYC's -53.10%.
On 10-year performance, IYC leads with 11.83% vs 5.97% for IYR. On fees, IYC is cheaper at 0.38% per year. On volatility, IYC has been the lower-risk option at 4.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYC has performed better with a 11.83% return vs 5.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYC is cheaper with a 0.38% expense ratio, compared with 0.42% for IYR.
IYR has the higher dividend yield at 2.15%, compared with 0.50% for IYC.
IYR is categorized as REIT, while IYC is Consumer Discretionary Equities. IYR tracks Dow Jones U.S. Real Estate Index, while IYC tracks Dow Jones U.S. Consumer Services Index. Their fees differ too: 0.42% for IYR and 0.38% for IYC.
IYR currently has the higher Sharpe Ratio (0.84 vs 0.36), 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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