JRE vs. IYR
JRE (Janus Henderson U.S. Real Estate ETF) and IYR (iShares U.S. Real Estate ETF) are both exchange-traded funds - JRE is a fund fund actively managed by Janus Henderson, while IYR is a REIT fund tracking the Dow Jones U.S. Real Estate Capped Index. JRE is actively managed, while IYR is passively managed. Over the past 5 years, JRE returned 4.91%/yr vs 2.71%/yr for IYR. With a 0.96 correlation, they move nearly in lockstep. JRE charges 0.65%/yr vs 0.38%/yr for IYR.
Performance
JRE vs. IYR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, JRE achieves a 18.21% return, which is significantly higher than IYR's 10.54% return.
JRE
- 1D
- 1.44%
- 1M
- 2.25%
- YTD
- 18.21%
- 6M
- 18.49%
- 1Y
- 19.43%
- 3Y*
- 12.61%
- 5Y*
- 4.91%
- 10Y*
- —
IYR
- 1D
- 1.36%
- 1M
- 0.76%
- YTD
- 10.54%
- 6M
- 10.95%
- 1Y
- 9.94%
- 3Y*
- 10.59%
- 5Y*
- 2.71%
- 10Y*
- 5.75%
JRE vs. IYR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JRE Janus Henderson U.S. Real Estate ETF | 18.21% | 2.97% | 7.65% | 8.79% | -23.47% | 16.20% |
IYR iShares U.S. Real Estate ETF | 10.54% | 3.38% | 4.41% | 11.89% | -25.51% | 14.27% |
Correlation
The correlation between JRE and IYR is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2021 | 0.96 |
The correlation between JRE and IYR has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
JRE vs. IYR — Risk / Return Rank
JRE
IYR
JRE vs. IYR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson U.S. Real Estate ETF (JRE) and iShares U.S. Real Estate ETF (IYR). 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.
| JRE | IYR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.13 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | 1.17 | +1.56 |
| Martin ratioReturn relative to average drawdown | 8.44 | 3.62 | +4.82 |
Loading charts...
Drawdowns
JRE vs. IYR - Drawdown Comparison
The maximum JRE drawdown since its inception was -31.69%, smaller than the maximum IYR drawdown of -74.13%. Use the drawdown chart below to compare losses from any high point for JRE and IYR.
Loading charts...
Drawdown Indicators
| JRE | IYR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.69% | -74.13% | +42.44% |
Max Drawdown (1Y)Largest decline over 1 year | -7.14% | -8.54% | +1.40% |
Max Drawdown (3Y)Largest decline over 3 years | -18.38% | -17.52% | -0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -31.69% | -33.75% | +2.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.32% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.84% | +0.84% |
Average DrawdownAverage peak-to-trough decline | -12.50% | -12.88% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.31% | 2.75% | -0.44% |
Volatility
JRE vs. IYR - Volatility Comparison
Janus Henderson U.S. Real Estate ETF (JRE) and iShares U.S. Real Estate ETF (IYR) have volatilities of 5.52% and 5.39%, 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.
Loading charts...
Volatility by Period
| JRE | IYR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.52% | 5.39% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 10.30% | 10.34% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.87% | 13.93% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.74% | 18.78% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.74% | 20.37% | -1.63% |
JRE vs. IYR - Expense Ratio Comparison
JRE has a 0.65% expense ratio, which is higher than IYR's 0.38% expense ratio.
Dividends
JRE vs. IYR - Dividend Comparison
JRE's dividend yield for the trailing twelve months is around 4.78%, more than IYR's 2.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYR iShares U.S. Real Estate ETF | 2.20% | 2.48% | 2.57% | 2.75% | 2.92% | 2.06% | 2.58% | 3.05% | 3.53% | 3.73% | 4.41% | 3.92% |
JRE Janus Henderson U.S. Real Estate ETF | 4.78% | 5.81% | 2.20% | 2.77% | 2.87% | 0.90% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, JRE and IYR 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.
JRE has higher volatility (5.52%) compared to IYR (5.39%). In terms of maximum drawdown, JRE dropped -31.69% vs IYR's -74.13%.
On 5-year performance, JRE leads with 4.91% vs 2.71% for IYR. On fees, IYR is cheaper at 0.38% per year. On volatility, IYR has been the lower-risk option at 5.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JRE has performed better with a 4.91% return vs 2.71%. 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 0.65% for JRE.
JRE has the higher dividend yield at 4.78%, compared with 2.20% for IYR.
They also come from different issuers: Janus Henderson and iShares. Their fees differ too: 0.65% for JRE and 0.38% for IYR.
JRE currently has the higher Sharpe Ratio (1.41 vs 0.72), 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.
Find the right allocation for JRE and IYR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer