NETL vs. IYRI

Last updated Jun 25, 2026

NETL (NETLease Corporate Real Estate ETF) and IYRI (NEOS Real Estate High Income ETF) are both exchange-traded funds - NETL is a REIT fund tracking the Fundamental Income Net Lease Real Estate Index, while IYRI is a Derivative Income fund actively managed by Neos. NETL is passively managed, while IYRI is actively managed. Over the past year, NETL returned 12.86% vs 8.76% for IYRI. A 0.77 correlation means they provide meaningful diversification when combined. NETL charges 0.60%/yr vs 0.68%/yr for IYRI.

Performance

NETL vs. IYRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NETLease Corporate Real Estate ETF (NETL) and NEOS Real Estate High Income ETF (IYRI). 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 higher than IYRI's 7.03% return.

NETL

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

IYRI

• 1D: -0.04%
• 1M: 0.79%
• YTD: 7.03%
• 6M: 6.33%
• 1Y: 8.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NETL vs. IYRI - Yearly Performance Comparison

	2026 (YTD)	2025
NETL NETLease Corporate Real Estate ETF	14.61%	7.72%
IYRI NEOS Real Estate High Income ETF	7.03%	6.99%

Correlation

The correlation between NETL and IYRI is 0.75, 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	0.75
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.77

The correlation between NETL and IYRI has been stable across timeframes, ranging from 0.75 to 0.77 - a consistent structural relationship.

Return for Risk

NETL vs. IYRI — 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

IYRI

IYRI Risk / Return Rank: 25
IYRI Sharpe Ratio Rank: 24
IYRI Sortino Ratio Rank: 23
IYRI Omega Ratio Rank: 23
IYRI Calmar Ratio Rank: 26
IYRI Martin Ratio Rank: 31

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. IYRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NETLease Corporate Real Estate ETF (NETL) and NEOS Real Estate High Income ETF (IYRI). 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	IYRI	Difference
Sharpe ratio: Return per unit of total volatility	0.92	0.82	+0.10
Sortino ratio: Return per unit of downside risk	1.33	1.18	+0.15
Omega ratio: Gain probability vs. loss probability	1.16	1.15	+0.01
Calmar ratio: Return relative to maximum drawdown	1.41	1.17	+0.24
Martin ratio: Return relative to average drawdown	4.43	4.20	+0.23

NETL vs. IYRI - Sharpe Ratio Comparison

The current NETL Sharpe Ratio is 0.92, which is comparable to the IYRI Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of NETL and IYRI, 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. IYRI - Drawdown Comparison

The maximum NETL drawdown since its inception was -51.48%, which is greater than IYRI's maximum drawdown of -12.12%. Use the drawdown chart below to compare losses from any high point for NETL and IYRI.

Drawdown Indicators

	NETL	IYRI	Difference
Max Drawdown Largest peak-to-trough decline	-51.48%	-12.12%	-39.36%
Max Drawdown (1Y) Largest decline over 1 year	-9.16%	-7.53%	-1.63%
Max Drawdown (3Y) Largest decline over 3 years	-19.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.74%	—	—
Current Drawdown Current decline from peak	-1.23%	-0.56%	-0.67%
Average Drawdown Average peak-to-trough decline	-11.57%	-1.69%	-9.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	2.10%	+0.82%

Volatility

NETL vs. IYRI - Volatility Comparison

NETLease Corporate Real Estate ETF (NETL) has a higher volatility of 5.28% compared to NEOS Real Estate High Income ETF (IYRI) at 4.21%. This indicates that NETL's price experiences larger fluctuations and is considered to be riskier than IYRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NETL	IYRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.28%	4.21%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	7.92%	+2.44%
Volatility (1Y) Calculated over the trailing 1-year period	14.04%	10.74%	+3.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.00%	13.18%	+4.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.87%	13.18%	+12.69%

NETL vs. IYRI - Expense Ratio Comparison

NETL has a 0.60% expense ratio, which is lower than IYRI's 0.68% expense ratio.

Dividends

NETL vs. IYRI - Dividend Comparison

NETL's dividend yield for the trailing twelve months is around 4.65%, less than IYRI's 11.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IYRI NEOS Real Estate High Income ETF	11.97%	11.72%	0.00%	0.00%	0.00%	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 IYRI in my portfolio?

NETL and IYRI have a correlation of 0.75, 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 IYRI?

NETL has higher volatility (5.28%) compared to IYRI (4.21%). In terms of maximum drawdown, NETL dropped -51.48% vs IYRI's -12.12%.

Which ETF is better, NETL or IYRI?

On 1-year performance, NETL leads with 12.86% vs 8.76% for IYRI. On fees, NETL is cheaper at 0.60% per year. On volatility, IYRI has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NETL or IYRI?

Over the 1-year period, NETL has performed better with a 12.86% return vs 8.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NETL or IYRI?

NETL is cheaper with a 0.60% expense ratio, compared with 0.68% for IYRI.

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

IYRI has the higher dividend yield at 11.97%, compared with 4.65% for NETL.

What is the main difference between NETL and IYRI?

NETL is categorized as REIT, while IYRI is Derivative Income. They also come from different issuers: Exchange Traded Concepts and Neos. Their fees differ too: 0.60% for NETL and 0.68% for IYRI.

Which has better risk-adjusted returns?

NETL currently has the higher Sharpe Ratio (0.92 vs 0.82), 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.