IYR vs. REIT
IYR (iShares U.S. Real Estate ETF) and REIT (ALPS Active REIT ETF) are both REIT funds. IYR is passively managed, while REIT is actively managed. Over the past 5 years, IYR returned 2.16%/yr vs 4.48%/yr for REIT. Their correlation of 0.94 means they have usually moved in the same direction. IYR charges 0.38%/yr vs 0.68%/yr for REIT.
Performance
IYR vs. REIT - Performance Comparison
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Returns By Period
In the year-to-date period, IYR achieves a 12.83% return, which is significantly lower than REIT's 19.33% return.
IYR
- 1D
- -0.10%
- 1M
- 1.07%
- 6M
- 11.51%
- YTD
- 12.83%
- 1Y
- 12.40%
- 3Y*
- 9.81%
- 5Y*
- 2.16%
- 10Y*
- 5.31%
- ALL TIME*
- 8.49%
REIT
- 1D
- -0.66%
- 1M
- 0.35%
- 6M
- 16.95%
- YTD
- 19.33%
- 1Y
- 22.29%
- 3Y*
- 11.35%
- 5Y*
- 4.48%
- 10Y*
- —
- ALL TIME*
- 7.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $598.06M | $552.39M | $590.29M | |
| $512.70K | $386.84K | $332.15K |
IYR vs. REIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IYR iShares U.S. Real Estate ETF | 12.83% | 3.38% | 4.41% | 11.89% | -25.51% | 33.97% |
REIT ALPS Active REIT ETF | 19.33% | -0.55% | 7.11% | 13.74% | -21.23% | 33.02% |
Correlation
The correlation between IYR and REIT is 0.95, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.95 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2021 | 0.94 |
The correlation between IYR and REIT has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.
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Return for Risk
IYR vs. REIT — Risk / Return Rank
IYR
REIT
IYR vs. REIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Real Estate ETF (IYR) and ALPS Active REIT ETF (REIT). 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 | REIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.30 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 3.05 | -1.59 |
| Martin ratioReturn relative to average drawdown | 4.67 | 9.49 | -4.82 |
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Drawdowns
IYR vs. REIT - Drawdown Comparison
The maximum IYR drawdown since its inception was -74.13%, which is greater than REIT's maximum drawdown of -29.30%. Use the drawdown chart below to compare losses from any high point for IYR and REIT.
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Drawdown Indicators
| IYR | REIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.13% | -29.30% | -44.83% |
Max Drawdown (1Y)Largest decline over 1 year | -8.54% | -7.35% | -1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -16.91% | -18.19% | +1.28% |
Max Drawdown (5Y)Largest decline over 5 years | -33.75% | -29.30% | -4.45% |
Max Drawdown (10Y)Largest decline over 10 years | -42.32% | — | — |
Current DrawdownCurrent decline from peak | -2.00% | -3.05% | +1.05% |
Average DrawdownAverage peak-to-trough decline | -12.83% | -10.08% | -2.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 2.35% | +0.31% |
Volatility
IYR vs. REIT - Volatility Comparison
iShares U.S. Real Estate ETF (IYR) and ALPS Active REIT ETF (REIT) have volatilities of 4.32% and 4.44%, 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 | REIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.32% | 4.44% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 10.81% | 10.43% | +0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.92% | 13.34% | +0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.82% | 18.52% | +0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.39% | 18.31% | +2.08% |
IYR vs. REIT - Expense Ratio Comparison
IYR has a 0.38% expense ratio, which is lower than REIT's 0.68% expense ratio.
Dividends
IYR vs. REIT - Dividend Comparison
IYR's dividend yield for the trailing twelve months is around 2.15%, less than REIT's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
REIT ALPS Active REIT ETF | 2.67% | 3.20% | 3.06% | 3.13% | 2.81% | 4.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, IYR and REIT 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.
REIT has higher volatility (4.44%) compared to IYR (4.32%). In terms of maximum drawdown, IYR dropped -74.13% vs REIT's -29.30%.
On 5-year performance, REIT leads with 4.48% vs 2.16% for IYR. On fees, IYR is cheaper at 0.38% per year. On volatility, IYR has been the lower-risk option at 4.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, REIT has performed better with a 4.48% return vs 2.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYR is cheaper with a 0.38% expense ratio, compared with 0.68% for REIT.
REIT has the higher dividend yield at 2.67%, compared with 2.15% for IYR.
They also come from different issuers: iShares and ALPS. Their fees differ too: 0.38% for IYR and 0.68% for REIT.
REIT currently has the higher Sharpe Ratio (1.68 vs 0.90), 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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