IYRI vs. IWMI
IYRI (NEOS Real Estate High Income ETF) and IWMI (NEOS Russell 2000 High Income ETF) are both Derivative Income funds from Neos. Both are actively managed. Over the past year, IYRI returned 10.44% vs 33.23% for IWMI. At a 0.46 correlation, their price movements are largely independent. Both charge a 0.68% expense ratio.
Performance
IYRI vs. IWMI - Performance Comparison
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Returns By Period
In the year-to-date period, IYRI achieves a 7.81% return, which is significantly lower than IWMI's 17.17% return.
IYRI
- 1D
- -0.12%
- 1M
- 0.87%
- 6M
- 5.77%
- YTD
- 7.81%
- 1Y
- 10.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWMI
- 1D
- 0.36%
- 1M
- 1.16%
- 6M
- 12.10%
- YTD
- 17.17%
- 1Y
- 33.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IYRI vs. IWMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IYRI NEOS Real Estate High Income ETF | 7.81% | 6.99% |
IWMI NEOS Russell 2000 High Income ETF | 17.17% | 15.15% |
Correlation
The correlation between IYRI and IWMI is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025 | 0.46 |
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Return for Risk
IYRI vs. IWMI — Risk / Return Rank
IYRI
IWMI
IYRI vs. IWMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NEOS Real Estate High Income ETF (IYRI) and NEOS Russell 2000 High Income ETF (IWMI). 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.
| IYRI | IWMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.38 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 3.97 | -2.58 |
| Martin ratioReturn relative to average drawdown | 4.99 | 16.34 | -11.36 |
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Drawdowns
IYRI vs. IWMI - Drawdown Comparison
The maximum IYRI drawdown since its inception was -12.12%, smaller than the maximum IWMI drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for IYRI and IWMI.
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Drawdown Indicators
| IYRI | IWMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.12% | -23.88% | +11.76% |
Max Drawdown (1Y)Largest decline over 1 year | -7.53% | -8.40% | +0.87% |
Current DrawdownCurrent decline from peak | -0.68% | -0.82% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -1.65% | -3.93% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.10% | 2.04% | +0.06% |
Volatility
IYRI vs. IWMI - Volatility Comparison
NEOS Real Estate High Income ETF (IYRI) has a higher volatility of 3.76% compared to NEOS Russell 2000 High Income ETF (IWMI) at 3.22%. This indicates that IYRI's price experiences larger fluctuations and is considered to be riskier than IWMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYRI | IWMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.76% | 3.22% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 8.12% | 11.43% | -3.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.87% | 15.34% | -4.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | 17.75% | -4.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.11% | 17.75% | -4.64% |
IYRI vs. IWMI - Expense Ratio Comparison
Both IYRI and IWMI have an expense ratio of 0.68%.
Dividends
IYRI vs. IWMI - Dividend Comparison
IYRI's dividend yield for the trailing twelve months is around 10.94%, less than IWMI's 13.37% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IWMI NEOS Russell 2000 High Income ETF | 13.37% | 14.05% | 8.78% |
IYRI NEOS Real Estate High Income ETF | 10.94% | 11.72% | 0.00% |
Frequently Asked Questions
IYRI and IWMI have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYRI has higher volatility (3.76%) compared to IWMI (3.22%). In terms of maximum drawdown, IYRI dropped -12.12% vs IWMI's -23.88%.
On 1-year performance, IWMI leads with 33.23% vs 10.44% for IYRI. Both ETFs have the same 0.68% expense ratio. On volatility, IWMI 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, IWMI has performed better with a 33.23% return vs 10.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYRI and IWMI have the same expense ratio: 0.68% per year.
IWMI has the higher dividend yield at 13.37%, compared with 10.94% for IYRI.
IWMI currently has the higher Sharpe Ratio (2.19 vs 0.97), 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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