PSR vs. IYRI

Last updated Jun 24, 2026

PSR (Invesco Active U.S. Real Estate Fund) and IYRI (NEOS Real Estate High Income ETF) are both exchange-traded funds - PSR is a REIT fund actively managed by Invesco, while IYRI is a Derivative Income fund actively managed by Neos. Both are actively managed. Over the past year, PSR returned 14.68% vs 9.17% for IYRI. Their correlation of 0.92 suggests significant overlap in exposure. PSR charges 0.35%/yr vs 0.68%/yr for IYRI.

Performance

PSR vs. IYRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Active U.S. Real Estate Fund (PSR) 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, PSR achieves a 16.36% return, which is significantly higher than IYRI's 7.08% return.

PSR

• 1D: 1.41%
• 1M: 1.61%
• YTD: 16.36%
• 6M: 16.93%
• 1Y: 14.68%
• 3Y*: 11.12%
• 5Y*: 2.80%
• 10Y*: 5.88%

IYRI

• 1D: 1.00%
• 1M: 0.83%
• YTD: 7.08%
• 6M: 7.36%
• 1Y: 9.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSR vs. IYRI - Yearly Performance Comparison

	2026 (YTD)	2025
PSR Invesco Active U.S. Real Estate Fund	16.36%	4.82%
IYRI NEOS Real Estate High Income ETF	7.08%	6.99%

Correlation

The correlation between PSR and IYRI is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.92

The correlation between PSR and IYRI has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

Return for Risk

PSR vs. IYRI — Risk / Return Rank

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

PSR

PSR Risk / Return Rank: 33
PSR Sharpe Ratio Rank: 31
PSR Sortino Ratio Rank: 29
PSR Omega Ratio Rank: 30
PSR Calmar Ratio Rank: 38
PSR Martin Ratio Rank: 37

IYRI

IYRI Risk / Return Rank: 26
IYRI Sharpe Ratio Rank: 25
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.

PSR vs. IYRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Active U.S. Real Estate Fund (PSR) 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.

	PSR	IYRI	Difference
Sharpe ratio: Return per unit of total volatility	1.07	0.86	+0.22
Sortino ratio: Return per unit of downside risk	1.50	1.23	+0.27
Omega ratio: Gain probability vs. loss probability	1.19	1.16	+0.04
Calmar ratio: Return relative to maximum drawdown	1.77	1.22	+0.55
Martin ratio: Return relative to average drawdown	5.53	4.37	+1.16

PSR vs. IYRI - Sharpe Ratio Comparison

The current PSR Sharpe Ratio is 1.07, which is comparable to the IYRI Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of PSR 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

PSR vs. IYRI - Drawdown Comparison

The maximum PSR drawdown since its inception was -42.31%, which is greater than IYRI's maximum drawdown of -12.12%. Use the drawdown chart below to compare losses from any high point for PSR and IYRI.

Drawdown Indicators

	PSR	IYRI	Difference
Max Drawdown Largest peak-to-trough decline	-42.31%	-12.12%	-30.19%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	-7.53%	-0.80%
Max Drawdown (3Y) Largest decline over 3 years	-16.58%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.81%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.31%	—	—
Current Drawdown Current decline from peak	-1.92%	-0.52%	-1.40%
Average Drawdown Average peak-to-trough decline	-9.31%	-1.69%	-7.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	2.10%	+0.56%

Volatility

PSR vs. IYRI - Volatility Comparison

Invesco Active U.S. Real Estate Fund (PSR) has a higher volatility of 5.32% compared to NEOS Real Estate High Income ETF (IYRI) at 4.21%. This indicates that PSR'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

	PSR	IYRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	4.21%	+1.11%
Volatility (6M) Calculated over the trailing 6-month period	10.46%	7.94%	+2.52%
Volatility (1Y) Calculated over the trailing 1-year period	13.80%	10.80%	+3.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.58%	13.20%	+5.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.36%	13.20%	+7.16%

PSR vs. IYRI - Expense Ratio Comparison

PSR has a 0.35% expense ratio, which is lower than IYRI's 0.68% expense ratio.

Dividends

PSR vs. IYRI - Dividend Comparison

PSR's dividend yield for the trailing twelve months is around 2.54%, less than IYRI's 11.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IYRI NEOS Real Estate High Income ETF	11.96%	11.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSR Invesco Active U.S. Real Estate Fund	2.54%	2.56%	3.06%	2.93%	2.95%	2.12%	3.09%	2.55%	2.64%	0.14%	3.60%	3.20%

Frequently Asked Questions

Can I hold both PSR and IYRI in my portfolio?

With a correlation of 0.91, PSR and IYRI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PSR or IYRI?

PSR has higher volatility (5.32%) compared to IYRI (4.21%). In terms of maximum drawdown, PSR dropped -42.31% vs IYRI's -12.12%.

Which ETF is better, PSR or IYRI?

On 1-year performance, PSR leads with 14.68% vs 9.17% for IYRI. On fees, PSR is cheaper at 0.35% 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, PSR or IYRI?

Over the 1-year period, PSR has performed better with a 14.68% return vs 9.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSR or IYRI?

PSR is cheaper with a 0.35% expense ratio, compared with 0.68% for IYRI.

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

IYRI has the higher dividend yield at 11.96%, compared with 2.54% for PSR.

What is the main difference between PSR and IYRI?

PSR is categorized as REIT, while IYRI is Derivative Income. They also come from different issuers: Invesco and Neos. Their fees differ too: 0.35% for PSR and 0.68% for IYRI.

Which has better risk-adjusted returns?

PSR currently has the higher Sharpe Ratio (1.07 vs 0.86), 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.