LPRE vs. BYRE

Last updated Jun 25, 2026

LPRE (Long Pond Real Estate Select ETF) and BYRE (Principal Real Estate Active Opportunities ETF) are both REIT funds. Both are actively managed. Over the past year, LPRE returned 20.16% vs 8.97% for BYRE. A 0.78 correlation means they provide meaningful diversification when combined. LPRE charges 1.00%/yr vs 0.65%/yr for BYRE.

Performance

LPRE vs. BYRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Long Pond Real Estate Select ETF (LPRE) and Principal Real Estate Active Opportunities ETF (BYRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with LPRE having a 13.49% return and BYRE slightly lower at 13.17%.

LPRE

• 1D: 1.19%
• 1M: 3.76%
• YTD: 13.49%
• 6M: 13.92%
• 1Y: 20.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BYRE

• 1D: 0.12%
• 1M: -0.03%
• YTD: 13.17%
• 6M: 13.31%
• 1Y: 8.97%
• 3Y*: 11.09%
• 5Y*: —
• 10Y*: —

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

LPRE vs. BYRE - Yearly Performance Comparison

	2026 (YTD)	2025
LPRE Long Pond Real Estate Select ETF	13.49%	16.34%
BYRE Principal Real Estate Active Opportunities ETF	13.17%	-0.40%

Correlation

The correlation between LPRE and BYRE is 0.80, 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	0.80
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	0.78

The correlation between LPRE and BYRE has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.

Return for Risk

LPRE vs. BYRE — Risk / Return Rank

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

LPRE

LPRE Risk / Return Rank: 43
LPRE Sharpe Ratio Rank: 42
LPRE Sortino Ratio Rank: 44
LPRE Omega Ratio Rank: 39
LPRE Calmar Ratio Rank: 45
LPRE Martin Ratio Rank: 46

BYRE

BYRE Risk / Return Rank: 22
BYRE Sharpe Ratio Rank: 22
BYRE Sortino Ratio Rank: 19
BYRE Omega Ratio Rank: 20
BYRE Calmar Ratio Rank: 26
BYRE Martin Ratio Rank: 24

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.

LPRE vs. BYRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Long Pond Real Estate Select ETF (LPRE) and Principal Real Estate Active Opportunities ETF (BYRE). 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.

	LPRE	BYRE	Difference
Sharpe ratio: Return per unit of total volatility	1.31	0.70	+0.61
Sortino ratio: Return per unit of downside risk	1.97	1.02	+0.95
Omega ratio: Gain probability vs. loss probability	1.23	1.13	+0.10
Calmar ratio: Return relative to maximum drawdown	1.96	1.16	+0.80
Martin ratio: Return relative to average drawdown	6.73	2.93	+3.79

LPRE vs. BYRE - Sharpe Ratio Comparison

The current LPRE Sharpe Ratio is 1.31, which is higher than the BYRE Sharpe Ratio of 0.70. The chart below compares the historical Sharpe Ratios of LPRE and BYRE, 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

LPRE vs. BYRE - Drawdown Comparison

The maximum LPRE drawdown since its inception was -10.33%, smaller than the maximum BYRE drawdown of -25.70%. Use the drawdown chart below to compare losses from any high point for LPRE and BYRE.

Drawdown Indicators

	LPRE	BYRE	Difference
Max Drawdown Largest peak-to-trough decline	-10.33%	-25.70%	+15.37%
Max Drawdown (1Y) Largest decline over 1 year	-10.33%	-7.76%	-2.57%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.20%	—
Current Drawdown Current decline from peak	-0.44%	-0.60%	+0.16%
Average Drawdown Average peak-to-trough decline	-2.09%	-9.46%	+7.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	3.10%	-0.09%

Volatility

LPRE vs. BYRE - Volatility Comparison

The current volatility for Long Pond Real Estate Select ETF (LPRE) is 4.16%, while Principal Real Estate Active Opportunities ETF (BYRE) has a volatility of 4.53%. This indicates that LPRE experiences smaller price fluctuations and is considered to be less risky than BYRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LPRE	BYRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	4.53%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	11.07%	9.66%	+1.41%
Volatility (1Y) Calculated over the trailing 1-year period	15.52%	12.88%	+2.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.04%	18.07%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	18.07%	-0.03%

LPRE vs. BYRE - Expense Ratio Comparison

LPRE has a 1.00% expense ratio, which is higher than BYRE's 0.65% expense ratio.

Dividends

LPRE vs. BYRE - Dividend Comparison

LPRE's dividend yield for the trailing twelve months is around 1.12%, less than BYRE's 2.43% yield.

Position	TTM	2025	2024	2023	2022
BYRE Principal Real Estate Active Opportunities ETF	2.43%	2.71%	2.31%	2.63%	1.86%
LPRE Long Pond Real Estate Select ETF	1.12%	0.93%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LPRE and BYRE in my portfolio?

LPRE and BYRE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LPRE or BYRE?

BYRE has higher volatility (4.53%) compared to LPRE (4.16%). In terms of maximum drawdown, LPRE dropped -10.33% vs BYRE's -25.70%.

Which ETF is better, LPRE or BYRE?

On 1-year performance, LPRE leads with 20.16% vs 8.97% for BYRE. On fees, BYRE is cheaper at 0.65% per year. On volatility, LPRE has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LPRE or BYRE?

Over the 1-year period, LPRE has performed better with a 20.16% return vs 8.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LPRE or BYRE?

BYRE is cheaper with a 0.65% expense ratio, compared with 1.00% for LPRE.

Which ETF pays a higher dividend yield, LPRE or BYRE?

BYRE has the higher dividend yield at 2.43%, compared with 1.12% for LPRE.

What is the main difference between LPRE and BYRE?

They also come from different issuers: Long Pond and Principal. Their fees differ too: 1.00% for LPRE and 0.65% for BYRE.

Which has better risk-adjusted returns?

LPRE currently has the higher Sharpe Ratio (1.31 vs 0.70), 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.