NETL vs. DFAR

Last updated Jun 25, 2026

NETL (NETLease Corporate Real Estate ETF) and DFAR (Dimensional US Real Estate ETF) are both REIT funds. NETL is passively managed, while DFAR is actively managed. Over the past 3 years, NETL returned 9.82%/yr vs 11.91%/yr for DFAR. Their correlation of 0.87 suggests significant overlap in exposure. NETL charges 0.60%/yr vs 0.19%/yr for DFAR.

Performance

NETL vs. DFAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NETLease Corporate Real Estate ETF (NETL) and Dimensional US Real Estate ETF (DFAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NETL achieves a 14.61% return, which is significantly lower than DFAR's 15.71% return.

NETL

• 1D: 0.72%
• 1M: 0.70%
• YTD: 14.61%
• 6M: 14.73%
• 1Y: 12.86%
• 3Y*: 9.82%
• 5Y*: 2.20%
• 10Y*: —

DFAR

• 1D: 0.00%
• 1M: 1.23%
• YTD: 15.71%
• 6M: 15.42%
• 1Y: 13.52%
• 3Y*: 11.91%
• 5Y*: —
• 10Y*: —

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

NETL vs. DFAR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NETL NETLease Corporate Real Estate ETF	14.61%	6.05%	-1.08%	2.69%	-4.98%
DFAR Dimensional US Real Estate ETF	15.71%	1.31%	5.25%	11.04%	-12.16%

Correlation

The correlation between NETL and DFAR is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (All Time) Calculated using the full available price history since Feb 24, 2022	0.87

The correlation between NETL and DFAR has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

NETL vs. DFAR — Risk / Return Rank

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

NETL

NETL Risk / Return Rank: 29
NETL Sharpe Ratio Rank: 28
NETL Sortino Ratio Rank: 26
NETL Omega Ratio Rank: 25
NETL Calmar Ratio Rank: 31
NETL Martin Ratio Rank: 33

DFAR

DFAR Risk / Return Rank: 31
DFAR Sharpe Ratio Rank: 30
DFAR Sortino Ratio Rank: 28
DFAR Omega Ratio Rank: 28
DFAR Calmar Ratio Rank: 35
DFAR Martin Ratio Rank: 36

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.

NETL vs. DFAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NETLease Corporate Real Estate ETF (NETL) and Dimensional US Real Estate ETF (DFAR). 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.

	NETL	DFAR	Difference
Sharpe ratio: Return per unit of total volatility	0.92	0.99	-0.07
Sortino ratio: Return per unit of downside risk	1.33	1.41	-0.08
Omega ratio: Gain probability vs. loss probability	1.16	1.18	-0.02
Calmar ratio: Return relative to maximum drawdown	1.41	1.61	-0.20
Martin ratio: Return relative to average drawdown	4.43	5.09	-0.66

NETL vs. DFAR - Sharpe Ratio Comparison

The current NETL Sharpe Ratio is 0.92, which is comparable to the DFAR Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of NETL and DFAR, 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

NETL vs. DFAR - Drawdown Comparison

The maximum NETL drawdown since its inception was -51.48%, which is greater than DFAR's maximum drawdown of -32.27%. Use the drawdown chart below to compare losses from any high point for NETL and DFAR.

Drawdown Indicators

	NETL	DFAR	Difference
Max Drawdown Largest peak-to-trough decline	-51.48%	-32.27%	-19.21%
Max Drawdown (1Y) Largest decline over 1 year	-9.16%	-8.43%	-0.73%
Max Drawdown (3Y) Largest decline over 3 years	-19.30%	-17.64%	-1.66%
Max Drawdown (5Y) Largest decline over 5 years	-30.74%	—	—
Current Drawdown Current decline from peak	-1.23%	-0.78%	-0.45%
Average Drawdown Average peak-to-trough decline	-11.57%	-14.04%	+2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	2.69%	+0.23%

Volatility

NETL vs. DFAR - Volatility Comparison

NETLease Corporate Real Estate ETF (NETL) and Dimensional US Real Estate ETF (DFAR) have volatilities of 5.28% and 5.14%, 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

	NETL	DFAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.28%	5.14%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	10.25%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	14.04%	13.73%	+0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.00%	19.16%	-1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.87%	19.16%	+6.71%

NETL vs. DFAR - Expense Ratio Comparison

NETL has a 0.60% expense ratio, which is higher than DFAR's 0.19% expense ratio.

Dividends

NETL vs. DFAR - Dividend Comparison

NETL's dividend yield for the trailing twelve months is around 4.65%, more than DFAR's 2.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DFAR Dimensional US Real Estate ETF	2.68%	2.97%	2.89%	3.06%	1.69%	0.00%	0.00%	0.00%
NETL NETLease Corporate Real Estate ETF	4.65%	5.12%	5.08%	4.57%	4.47%	4.03%	3.98%	2.52%

Frequently Asked Questions

Can I hold both NETL and DFAR in my portfolio?

NETL and DFAR have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NETL or DFAR?

NETL has higher volatility (5.28%) compared to DFAR (5.14%). In terms of maximum drawdown, NETL dropped -51.48% vs DFAR's -32.27%.

Which ETF is better, NETL or DFAR?

On 3-year performance, DFAR leads with 11.91% vs 9.82% for NETL. On fees, DFAR is cheaper at 0.19% per year. On volatility, DFAR has been the lower-risk option at 5.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NETL or DFAR?

Over the 3-year period, DFAR has performed better with a 11.91% return vs 9.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NETL or DFAR?

DFAR is cheaper with a 0.19% expense ratio, compared with 0.60% for NETL.

Which ETF pays a higher dividend yield, NETL or DFAR?

NETL has the higher dividend yield at 4.65%, compared with 2.68% for DFAR.

What is the main difference between NETL and DFAR?

They also come from different issuers: Exchange Traded Concepts and Dimensional. Their fees differ too: 0.60% for NETL and 0.19% for DFAR.

Which has better risk-adjusted returns?

DFAR currently has the higher Sharpe Ratio (0.99 vs 0.92), 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.