IYRI vs. SVOL

Last updated Jun 16, 2026

IYRI (NEOS Real Estate High Income ETF) and SVOL (Simplify Volatility Premium ETF) are both exchange-traded funds - IYRI is a Derivative Income fund tracking the Dow Jones U.S. Real Estate Capped Index, while SVOL is a Volatility fund actively managed by Simplify. IYRI is passively managed, while SVOL is actively managed. Over the past year, IYRI returned 10.21% vs 17.35% for SVOL. At a 0.38 correlation, their price movements are largely independent. IYRI charges 0.68%/yr vs 0.50%/yr for SVOL.

Performance

IYRI vs. SVOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Real Estate High Income ETF (IYRI) and Simplify Volatility Premium ETF (SVOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IYRI achieves a 6.88% return, which is significantly higher than SVOL's 1.27% return.

IYRI

• 1D: -0.70%
• 1M: 3.40%
• YTD: 6.88%
• 6M: 6.34%
• 1Y: 10.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SVOL

• 1D: 2.13%
• 1M: 3.87%
• YTD: 1.27%
• 6M: 3.12%
• 1Y: 17.35%
• 3Y*: 6.53%
• 5Y*: 6.92%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IYRI vs. SVOL - Yearly Performance Comparison

	2026 (YTD)	2025
IYRI NEOS Real Estate High Income ETF	6.88%	6.99%
SVOL Simplify Volatility Premium ETF	1.27%	4.83%

Correlation

The correlation between IYRI and SVOL is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.38

The correlation between IYRI and SVOL shifts across timeframes, from 0.24 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IYRI vs. SVOL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IYRI

IYRI Risk / Return Rank: 30
IYRI Sharpe Ratio Rank: 30
IYRI Sortino Ratio Rank: 28
IYRI Omega Ratio Rank: 28
IYRI Calmar Ratio Rank: 30
IYRI Martin Ratio Rank: 35

SVOL

SVOL Risk / Return Rank: 27
SVOL Sharpe Ratio Rank: 26
SVOL Sortino Ratio Rank: 26
SVOL Omega Ratio Rank: 29
SVOL Calmar Ratio Rank: 30
SVOL Martin Ratio Rank: 26

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IYRI vs. SVOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Real Estate High Income ETF (IYRI) and Simplify Volatility Premium ETF (SVOL). 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	SVOL	Difference
Sharpe ratio: Return per unit of total volatility	0.97	0.85	+0.12
Sortino ratio: Return per unit of downside risk	1.39	1.31	+0.08
Omega ratio: Gain probability vs. loss probability	1.18	1.18	0.00
Calmar ratio: Return relative to maximum drawdown	1.36	1.34	+0.02
Martin ratio: Return relative to average drawdown	4.90	3.20	+1.70

IYRI vs. SVOL - Sharpe Ratio Comparison

The current IYRI Sharpe Ratio is 0.97, which is comparable to the SVOL Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of IYRI and SVOL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IYRI vs. SVOL - Drawdown Comparison

The maximum IYRI drawdown since its inception was -12.12%, smaller than the maximum SVOL drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for IYRI and SVOL.

Drawdown Indicators

	IYRI	SVOL	Difference
Max Drawdown Largest peak-to-trough decline	-12.12%	-33.50%	+21.38%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	-13.01%	+5.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-33.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.50%	—
Current Drawdown Current decline from peak	-0.70%	-1.34%	+0.64%
Average Drawdown Average peak-to-trough decline	-1.69%	-4.76%	+3.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	5.44%	-3.35%

Volatility

IYRI vs. SVOL - Volatility Comparison

NEOS Real Estate High Income ETF (IYRI) and Simplify Volatility Premium ETF (SVOL) have volatilities of 3.98% and 4.03%, 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.

Volatility by Period

	IYRI	SVOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	4.03%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	7.62%	10.17%	-2.55%
Volatility (1Y) Calculated over the trailing 1-year period	10.54%	20.54%	-10.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.13%	22.03%	-8.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.13%	21.91%	-8.78%

IYRI vs. SVOL - Expense Ratio Comparison

IYRI has a 0.68% expense ratio, which is higher than SVOL's 0.50% expense ratio.

Dividends

IYRI vs. SVOL - Dividend Comparison

IYRI's dividend yield for the trailing twelve months is around 10.97%, less than SVOL's 21.73% yield.

Position	TTM	2025	2024	2023	2022	2021
IYRI NEOS Real Estate High Income ETF	10.97%	11.72%	0.00%	0.00%	0.00%	0.00%
SVOL Simplify Volatility Premium ETF	21.73%	19.82%	16.79%	16.36%	18.32%	4.65%

Frequently Asked Questions

Can I hold both IYRI and SVOL in my portfolio?

IYRI and SVOL have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYRI or SVOL?

SVOL has higher volatility (4.03%) compared to IYRI (3.98%). In terms of maximum drawdown, IYRI dropped -12.12% vs SVOL's -33.50%.

Which ETF is better, IYRI or SVOL?

On 1-year performance, SVOL leads with 17.35% vs 10.21% for IYRI. On fees, SVOL is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IYRI or SVOL?

Over the 1-year period, SVOL has performed better with a 17.35% return vs 10.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYRI or SVOL?

SVOL is cheaper with a 0.50% expense ratio, compared with 0.68% for IYRI.

Which ETF pays a higher dividend yield, IYRI or SVOL?

SVOL has the higher dividend yield at 21.73%, compared with 10.97% for IYRI.

What is the main difference between IYRI and SVOL?

IYRI is categorized as Derivative Income, while SVOL is Volatility. They also come from different issuers: Neos and Simplify. Their fees differ too: 0.68% for IYRI and 0.50% for SVOL.

Which has better risk-adjusted returns?

IYRI currently has the higher Sharpe Ratio (0.97 vs 0.85), 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.