PPTY vs. REZ
PPTY (US Diversified Real Estate ETF) and REZ (iShares Residential Real Estate ETF) are both REIT funds - PPTY tracks the USREX - U.S. Diversified Real Estate Index while REZ tracks the FTSE NAREIT All Residential Capped Index. Both are passively managed. Over the past 5 years, PPTY returned 3.03%/yr vs 4.34%/yr for REZ. Their correlation of 0.91 suggests significant overlap in exposure. PPTY charges 0.49%/yr vs 0.48%/yr for REZ.
Performance
PPTY vs. REZ - Performance Comparison
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Returns By Period
In the year-to-date period, PPTY achieves a 13.64% return, which is significantly higher than REZ's 11.57% return.
PPTY
- 1D
- 1.21%
- 1M
- 2.70%
- YTD
- 13.64%
- 6M
- 14.29%
- 1Y
- 13.03%
- 3Y*
- 11.23%
- 5Y*
- 3.03%
- 10Y*
- —
REZ
- 1D
- 1.85%
- 1M
- 0.19%
- YTD
- 11.57%
- 6M
- 12.05%
- 1Y
- 12.95%
- 3Y*
- 12.29%
- 5Y*
- 4.34%
- 10Y*
- 6.81%
PPTY vs. REZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PPTY US Diversified Real Estate ETF | 13.64% | -3.47% | 9.85% | 12.66% | -26.10% | 40.36% | -7.25% | 30.19% | 4.86% |
REZ iShares Residential Real Estate ETF | 11.57% | 4.80% | 12.73% | 10.97% | -28.31% | 47.86% | -6.62% | 24.49% | 15.23% |
Correlation
The correlation between PPTY and REZ is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2018 | 0.91 |
The correlation between PPTY and REZ has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.
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Return for Risk
PPTY vs. REZ — Risk / Return Rank
PPTY
REZ
PPTY vs. REZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Diversified Real Estate ETF (PPTY) and iShares Residential Real Estate ETF (REZ). 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.
| PPTY | REZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.15 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 1.48 | +0.13 |
| Martin ratioReturn relative to average drawdown | 4.68 | 4.49 | +0.19 |
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Drawdowns
PPTY vs. REZ - Drawdown Comparison
The maximum PPTY drawdown since its inception was -41.69%, smaller than the maximum REZ drawdown of -66.87%. Use the drawdown chart below to compare losses from any high point for PPTY and REZ.
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Drawdown Indicators
| PPTY | REZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.69% | -66.87% | +25.18% |
Max Drawdown (1Y)Largest decline over 1 year | -8.09% | -8.76% | +0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -21.06% | -18.39% | -2.67% |
Max Drawdown (5Y)Largest decline over 5 years | -32.37% | -35.05% | +2.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.15% | — |
Current DrawdownCurrent decline from peak | -0.86% | -0.64% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -11.28% | -12.66% | +1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 2.89% | -0.10% |
Volatility
PPTY vs. REZ - Volatility Comparison
The current volatility for US Diversified Real Estate ETF (PPTY) is 4.88%, while iShares Residential Real Estate ETF (REZ) has a volatility of 6.03%. This indicates that PPTY experiences smaller price fluctuations and is considered to be less risky than REZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PPTY | REZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.88% | 6.03% | -1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 10.08% | 11.55% | -1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.15% | 15.07% | -0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.60% | 19.00% | -0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.90% | 21.58% | +0.32% |
PPTY vs. REZ - Expense Ratio Comparison
PPTY has a 0.49% expense ratio, which is higher than REZ's 0.48% expense ratio.
Dividends
PPTY vs. REZ - Dividend Comparison
PPTY's dividend yield for the trailing twelve months is around 2.56%, more than REZ's 2.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PPTY US Diversified Real Estate ETF | 2.56% | 3.04% | 3.29% | 4.08% | 4.29% | 2.87% | 3.43% | 3.30% | 1.97% | 0.00% | 0.00% | 0.00% |
REZ iShares Residential Real Estate ETF | 2.06% | 2.74% | 2.26% | 2.94% | 3.37% | 1.81% | 3.17% | 2.90% | 3.63% | 3.57% | 5.55% | 3.18% |
Frequently Asked Questions
PPTY and REZ have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REZ has higher volatility (6.03%) compared to PPTY (4.88%). In terms of maximum drawdown, PPTY dropped -41.69% vs REZ's -66.87%.
On 5-year performance, REZ leads with 4.34% vs 3.03% for PPTY. On fees, REZ is cheaper at 0.48% per year. On volatility, PPTY has been the lower-risk option at 4.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, REZ has performed better with a 4.34% return vs 3.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
REZ is cheaper with a 0.48% expense ratio, compared with 0.49% for PPTY.
PPTY has the higher dividend yield at 2.56%, compared with 2.06% for REZ.
PPTY tracks USREX - U.S. Diversified Real Estate Index, while REZ tracks FTSE NAREIT All Residential Capped Index. They also come from different issuers: Vident and iShares. Their fees differ too: 0.49% for PPTY and 0.48% for REZ.
PPTY currently has the higher Sharpe Ratio (0.93 vs 0.87), 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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