JRE vs. KBWY
JRE (Janus Henderson U.S. Real Estate ETF) and KBWY (Invesco KBW Premium Yield Equity REIT ETF) are both exchange-traded funds - JRE is a fund fund actively managed by Janus Henderson, while KBWY is a REIT fund tracking the KBW Nasdaq Premium Yield Equity REIT Index. JRE is actively managed, while KBWY is passively managed. Over the past 5 years, JRE returned 4.60%/yr vs 2.89%/yr for KBWY. Their correlation of 0.82 suggests significant overlap in exposure. JRE charges 0.65%/yr vs 0.35%/yr for KBWY.
Performance
JRE vs. KBWY - Performance Comparison
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Returns By Period
In the year-to-date period, JRE achieves a 16.53% return, which is significantly lower than KBWY's 21.05% return.
JRE
- 1D
- 1.21%
- 1M
- 0.80%
- YTD
- 16.53%
- 6M
- 16.75%
- 1Y
- 19.12%
- 3Y*
- 12.08%
- 5Y*
- 4.60%
- 10Y*
- —
KBWY
- 1D
- 0.06%
- 1M
- 3.43%
- YTD
- 21.05%
- 6M
- 22.09%
- 1Y
- 24.91%
- 3Y*
- 11.51%
- 5Y*
- 2.89%
- 10Y*
- 1.34%
JRE vs. KBWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JRE Janus Henderson U.S. Real Estate ETF | 16.53% | 2.97% | 7.65% | 8.79% | -23.47% | 16.20% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 21.05% | -5.30% | -3.49% | 12.88% | -19.00% | 13.71% |
Correlation
The correlation between JRE and KBWY is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2021 | 0.82 |
The correlation between JRE and KBWY has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.
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Return for Risk
JRE vs. KBWY — Risk / Return Rank
JRE
KBWY
JRE vs. KBWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson U.S. Real Estate ETF (JRE) and Invesco KBW Premium Yield Equity REIT ETF (KBWY). 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 | KBWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.69 | 2.71 | -0.02 |
| Martin ratioReturn relative to average drawdown | 8.30 | 6.43 | +1.87 |
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Drawdowns
JRE vs. KBWY - Drawdown Comparison
The maximum JRE drawdown since its inception was -31.69%, smaller than the maximum KBWY drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for JRE and KBWY.
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Drawdown Indicators
| JRE | KBWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.69% | -57.68% | +25.99% |
Max Drawdown (1Y)Largest decline over 1 year | -7.14% | -9.24% | +2.10% |
Max Drawdown (3Y)Largest decline over 3 years | -18.38% | -29.93% | +11.55% |
Max Drawdown (5Y)Largest decline over 5 years | -31.69% | -32.29% | +0.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.68% | — |
Current DrawdownCurrent decline from peak | -0.81% | -7.79% | +6.98% |
Average DrawdownAverage peak-to-trough decline | -12.51% | -14.15% | +1.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.31% | 3.88% | -1.57% |
Volatility
JRE vs. KBWY - Volatility Comparison
Janus Henderson U.S. Real Estate ETF (JRE) has a higher volatility of 5.35% compared to Invesco KBW Premium Yield Equity REIT ETF (KBWY) at 4.76%. This indicates that JRE's price experiences larger fluctuations and is considered to be riskier than KBWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JRE | KBWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.35% | 4.76% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 10.23% | 12.12% | -1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.83% | 16.78% | -2.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 21.61% | -2.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.73% | 27.08% | -8.35% |
JRE vs. KBWY - Expense Ratio Comparison
JRE has a 0.65% expense ratio, which is higher than KBWY's 0.35% expense ratio.
Dividends
JRE vs. KBWY - Dividend Comparison
JRE's dividend yield for the trailing twelve months is around 4.85%, less than KBWY's 9.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JRE Janus Henderson U.S. Real Estate ETF | 4.85% | 5.81% | 2.20% | 2.77% | 2.87% | 0.90% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 9.09% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
Frequently Asked Questions
JRE and KBWY have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JRE has higher volatility (5.35%) compared to KBWY (4.76%). In terms of maximum drawdown, JRE dropped -31.69% vs KBWY's -57.68%.
On 5-year performance, JRE leads with 4.60% vs 2.89% for KBWY. On fees, KBWY is cheaper at 0.35% per year. On volatility, KBWY has been the lower-risk option at 4.76%. 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 4.60% return vs 2.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KBWY is cheaper with a 0.35% expense ratio, compared with 0.65% for JRE.
KBWY has the higher dividend yield at 9.09%, compared with 4.85% for JRE.
They also come from different issuers: Janus Henderson and Invesco. Their fees differ too: 0.65% for JRE and 0.35% for KBWY.
KBWY currently has the higher Sharpe Ratio (1.49 vs 1.39), 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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