IYR vs. XLRI
IYR (iShares U.S. Real Estate ETF) and XLRI (State Street Real Estate Select Sector SPDR Premium Income ETF) are both exchange-traded funds - IYR is a REIT fund tracking the Dow Jones U.S. Real Estate Capped Index, while XLRI is a Derivative Income fund actively managed by State Street. IYR is passively managed, while XLRI is actively managed. Over the past year, IYR returned 12.40% vs 9.61% for XLRI. Their 0.95 correlation means they have historically moved very closely together. IYR charges 0.38%/yr vs 0.35%/yr for XLRI.
Performance
IYR vs. XLRI - Performance Comparison
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Returns By Period
In the year-to-date period, IYR achieves a 12.83% return, which is significantly higher than XLRI's 8.24% 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%
XLRI
- 1D
- 0.30%
- 1M
- 1.15%
- 6M
- 6.94%
- YTD
- 8.24%
- 1Y
- 9.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $598.06M | $552.39M | $590.29M | |
| $73.67K | $70.90K | $65.83K |
IYR vs. XLRI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IYR iShares U.S. Real Estate ETF | 12.83% | -2.43% |
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF | 8.24% | -0.57% |
Correlation
The correlation between IYR and XLRI is 0.95 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025 | 0.95 |
The correlation between IYR and XLRI has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.
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Return for Risk
IYR vs. XLRI — Risk / Return Rank
IYR
XLRI
IYR vs. XLRI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Real Estate ETF (IYR) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). 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 | XLRI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.16 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 1.36 | +0.10 |
| Martin ratioReturn relative to average drawdown | 4.67 | 4.74 | -0.07 |
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Drawdowns
IYR vs. XLRI - Drawdown Comparison
The maximum IYR drawdown since its inception was -74.13%, which is greater than XLRI's maximum drawdown of -7.12%. Use the drawdown chart below to compare losses from any high point for IYR and XLRI.
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Drawdown Indicators
| IYR | XLRI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.13% | -7.12% | -67.01% |
Max Drawdown (1Y)Largest decline over 1 year | -8.54% | -7.12% | -1.42% |
Max Drawdown (3Y)Largest decline over 3 years | -16.91% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -33.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.32% | — | — |
Current DrawdownCurrent decline from peak | -2.00% | -0.81% | -1.19% |
Average DrawdownAverage peak-to-trough decline | -12.83% | -1.54% | -11.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 2.03% | +0.63% |
Volatility
IYR vs. XLRI - Volatility Comparison
iShares U.S. Real Estate ETF (IYR) has a higher volatility of 4.32% compared to State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI) at 3.22%. This indicates that IYR's price experiences larger fluctuations and is considered to be riskier than XLRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYR | XLRI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.32% | 3.22% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 10.81% | 8.71% | +2.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.92% | 11.00% | +2.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.82% | 11.08% | +7.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.39% | 11.08% | +9.31% |
IYR vs. XLRI - Expense Ratio Comparison
IYR has a 0.38% expense ratio, which is higher than XLRI's 0.35% expense ratio.
Dividends
IYR vs. XLRI - Dividend Comparison
IYR's dividend yield for the trailing twelve months is around 2.15%, less than XLRI's 14.33% 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% |
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF | 14.33% | 6.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, IYR and XLRI 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 (4.32%) compared to XLRI (3.22%). In terms of maximum drawdown, IYR dropped -74.13% vs XLRI's -7.12%.
On 1-year performance, IYR leads with 12.40% vs 9.61% for XLRI. On fees, XLRI is cheaper at 0.35% per year. On volatility, XLRI has been the lower-risk option at 3.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IYR has performed better with a 12.40% return vs 9.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLRI is cheaper with a 0.35% expense ratio, compared with 0.38% for IYR.
XLRI has the higher dividend yield at 14.33%, compared with 2.15% for IYR.
IYR is categorized as REIT, while XLRI is Derivative Income. They also come from different issuers: iShares and State Street. Their fees differ too: 0.38% for IYR and 0.35% for XLRI.
IYR currently has the higher Sharpe Ratio (0.90 vs 0.88), 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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