PFFR vs. IYRI

Last updated Aug 6, 2026

PFFR (InfraCap REIT Preferred ETF) and IYRI (NEOS Real Estate High Income ETF) are both exchange-traded funds - PFFR is a REIT fund tracking the Indxx REIT Preferred Stock Index, while IYRI is a Derivative Income fund actively managed by Neos. PFFR is passively managed, while IYRI is actively managed. Over the past year, PFFR returned 3.99% vs 10.60% for IYRI. Their 0.23 correlation means their historical movements had little consistent relationship. PFFR charges 0.45%/yr vs 0.68%/yr for IYRI.

Performance

PFFR vs. IYRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in InfraCap REIT Preferred ETF (PFFR) 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, PFFR achieves a 2.85% return, which is significantly lower than IYRI's 9.49% return.

PFFR

• 1D: -0.44%
• 1M: 0.29%
• 6M: 1.42%
• YTD: 2.85%
• 1Y: 3.99%
• 3Y*: 8.60%
• 5Y*: 0.99%
• 10Y*: —
• ALL TIME*: 3.40%

IYRI

• 1D: 0.06%
• 1M: 1.97%
• 6M: 6.89%
• YTD: 9.49%
• 1Y: 10.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.73%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IYRI NEOS Real Estate High Income ETF	$3.46M	$3.52M	$3.84M
PFFR InfraCap REIT Preferred ETF	$783.15K	$723.76K	$619.25K

PFFR vs. IYRI - Yearly Performance Comparison

	2026 (YTD)	2025
PFFR InfraCap REIT Preferred ETF	2.85%	5.70%
IYRI NEOS Real Estate High Income ETF	9.49%	6.99%

Correlation

The correlation between PFFR and IYRI is 0.24, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.24
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.23

Return for Risk

PFFR vs. IYRI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PFFR

PFFR Risk / Return Rank: 19
PFFR Sharpe Ratio Rank: 21
PFFR Sortino Ratio Rank: 19
PFFR Omega Ratio Rank: 19
PFFR Calmar Ratio Rank: 20
PFFR Martin Ratio Rank: 19

IYRI

IYRI Risk / Return Rank: 36
IYRI Sharpe Ratio Rank: 35
IYRI Sortino Ratio Rank: 33
IYRI Omega Ratio Rank: 34
IYRI Calmar Ratio Rank: 36
IYRI Martin Ratio Rank: 42

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PFFR vs. IYRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for InfraCap REIT Preferred ETF (PFFR) 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.

	PFFR	IYRI	Difference
Sharpe ratio: Return per unit of total volatility	0.50	1.00	-0.51
Sortino ratio: Return per unit of downside risk	0.75	1.44	-0.69
Omega ratio: Gain probability vs. loss probability	1.09	1.18	-0.09
Calmar ratio: Return relative to maximum drawdown	0.61	1.41	-0.80
Martin ratio: Return relative to average drawdown	1.37	5.17	-3.79

PFFR vs. IYRI - Sharpe Ratio Comparison

The current PFFR Sharpe Ratio is 0.50, which is lower than the IYRI Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of PFFR 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

PFFR vs. IYRI - Drawdown Comparison

The maximum PFFR drawdown since its inception was -53.02%, which is greater than IYRI's maximum drawdown of -12.12%. Use the drawdown chart below to compare losses from any high point for PFFR and IYRI.

Drawdown Indicators

	PFFR	IYRI	Difference
Max Drawdown Largest peak-to-trough decline	-53.02%	-12.12%	-40.90%
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	-7.53%	+0.96%
Max Drawdown (3Y) Largest decline over 3 years	-11.16%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.80%	—	—
Current Drawdown Current decline from peak	-1.09%	-0.79%	-0.30%
Average Drawdown Average peak-to-trough decline	-6.90%	-1.60%	-5.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	2.06%	+0.86%

Volatility

PFFR vs. IYRI - Volatility Comparison

The current volatility for InfraCap REIT Preferred ETF (PFFR) is 2.21%, while NEOS Real Estate High Income ETF (IYRI) has a volatility of 2.55%. This indicates that PFFR experiences smaller price fluctuations and is considered to be less risky than IYRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFFR	IYRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	2.55%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	6.28%	8.10%	-1.82%
Volatility (1Y) Calculated over the trailing 1-year period	8.07%	10.61%	-2.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.54%	12.96%	-2.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.37%	12.96%	+7.41%

PFFR vs. IYRI - Expense Ratio Comparison

PFFR has a 0.45% expense ratio, which is lower than IYRI's 0.68% expense ratio.

Dividends

PFFR vs. IYRI - Dividend Comparison

PFFR's dividend yield for the trailing twelve months is around 8.27%, less than IYRI's 10.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IYRI NEOS Real Estate High Income ETF	10.84%	11.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PFFR InfraCap REIT Preferred ETF	8.27%	7.99%	7.78%	7.72%	8.60%	6.08%	6.11%	5.77%	6.48%	6.59%

Frequently Asked Questions

Can I hold both PFFR and IYRI in my portfolio?

PFFR and IYRI have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFFR or IYRI?

IYRI has higher volatility (2.55%) compared to PFFR (2.21%). In terms of maximum drawdown, PFFR dropped -53.02% vs IYRI's -12.12%.

Which ETF is better, PFFR or IYRI?

On 1-year performance, IYRI leads with 10.60% vs 3.99% for PFFR. On fees, PFFR is cheaper at 0.45% per year. On volatility, PFFR has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFFR or IYRI?

Over the 1-year period, IYRI has performed better with a 10.60% return vs 3.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFFR or IYRI?

PFFR is cheaper with a 0.45% expense ratio, compared with 0.68% for IYRI.

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

IYRI has the higher dividend yield at 10.84%, compared with 8.27% for PFFR.

What is the main difference between PFFR and IYRI?

PFFR is categorized as REIT, while IYRI is Derivative Income. They also come from different issuers: Virtus and Neos. Their fees differ too: 0.45% for PFFR and 0.68% for IYRI.

Which has better risk-adjusted returns?

IYRI currently has the higher Sharpe Ratio (1.00 vs 0.50), 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.