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REET vs. GQRE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

REET vs. GQRE

Last updated Jun 4, 2026

REET (iShares Global REIT ETF) and GQRE (FlexShares Global Quality Real Estate Index Fund) are both REIT funds - REET tracks the FTSE EPRA/NAREIT Global REIT Index while GQRE tracks the Northern Trust Global Quality Real Estate (NR). Both are passively managed. Over the past 10 years, REET returned 3.99%/yr vs 3.78%/yr for GQRE. Their correlation of 0.94 suggests significant overlap in exposure. REET charges 0.14%/yr vs 0.45%/yr for GQRE.

Performance

REET vs. GQRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global REIT ETF (REET) and FlexShares Global Quality Real Estate Index Fund (GQRE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, REET achieves a 8.07% return, which is significantly higher than GQRE's 7.34% return. Over the past 10 years, REET has outperformed GQRE with an annualized return of 3.99%, while GQRE has yielded a comparatively lower 3.78% annualized return.

REET

1D
-0.15%
1M
-0.74%
YTD
8.07%
6M
7.69%
1Y
12.24%
3Y*
9.19%
5Y*
2.22%
10Y*
3.99%

GQRE

1D
-0.36%
1M
-1.32%
YTD
7.34%
6M
7.63%
1Y
11.71%
3Y*
10.30%
5Y*
1.99%
10Y*
3.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

REET vs. GQRE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
REET
iShares Global REIT ETF		8.07%7.97%2.65%10.28%-24.10%32.43%-10.48%24.42%-5.27%7.48%
GQRE
FlexShares Global Quality Real Estate Index Fund		7.34%8.27%6.09%9.21%-27.22%32.01%-9.17%21.84%-8.88%13.60%

Correlation

The correlation between REET and GQRE is 0.94, 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

0.94

Correlation (3Y)
Calculated over the trailing 3-year period

0.96

Correlation (5Y)
Calculated over the trailing 5-year period

0.97

Correlation (10Y)
Calculated over the trailing 10-year period

0.95

Correlation (All Time)
Calculated using the full available price history since Jul 11, 2014

0.94

The correlation between REET and GQRE has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

REET vs. GQRE - Sectors Allocation Comparison

Sectors
REET
GQRE

Real Estate

99.8%
87.9%

Financial Services

0.2%
2.0%

Basic Materials

-

0.0%

Communication Services

-

0.5%

Consumer Cyclical

-

1.0%

Consumer Defensive

-

0.5%

Energy

-

-

Healthcare

-

0.6%

Industrials

-

0.2%

Technology

-

0.8%

Utilities

-

0.5%

Real Estate

REET
99.8%
GQRE
87.9%

Financial Services

REET
0.2%
GQRE
2.0%

Basic Materials

REET

-

GQRE
0.0%

Communication Services

REET

-

GQRE
0.5%

Consumer Cyclical

REET

-

GQRE
1.0%

Consumer Defensive

REET

-

GQRE
0.5%

Energy

REET

-

GQRE

-

Healthcare

REET

-

GQRE
0.6%

Industrials

REET

-

GQRE
0.2%

Technology

REET

-

GQRE
0.8%

Utilities

REET

-

GQRE
0.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Global REIT ETF

FlexShares Global Quality Real Estate Index Fund

Often compared with REET:
REET vs. VNQREET vs. VNQIREET vs. XLREREET vs. USRTREET vs. SCHHREET vs. RWOREET vs. FREL
Often compared with GQRE:
GQRE vs. RWOGQRE vs. RLYGQRE vs. UCONGQRE vs. SPREGQRE vs. XLREGQRE vs. MORTGQRE vs. vnqi

Return for Risk

REET vs. GQRE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
REET
REET Risk / Return Rank: 2828
Overall Rank
REET Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
REET Sortino Ratio Rank: 2626
Sortino Ratio Rank
REET Omega Ratio Rank: 2727
Omega Ratio Rank
REET Calmar Ratio Rank: 2828
Calmar Ratio Rank
REET Martin Ratio Rank: 3232
Martin Ratio Rank
GQRE
GQRE Risk / Return Rank: 2727
Overall Rank
GQRE Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
GQRE Sortino Ratio Rank: 2626
Sortino Ratio Rank
GQRE Omega Ratio Rank: 2626
Omega Ratio Rank
GQRE Calmar Ratio Rank: 2525
Calmar Ratio Rank
GQRE Martin Ratio Rank: 3030
Martin Ratio Rank
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.

REET vs. GQRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global REIT ETF (REET) and FlexShares Global Quality Real Estate Index Fund (GQRE). 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.

REETGQREDifference
Sharpe ratioReturn per unit of total volatility
1.02
1.01

+0.01

Sortino ratioReturn per unit of downside risk
1.44
1.43

+0.01

Omega ratioGain probability vs. loss probability

1.18

1.18

0.00

Calmar ratioReturn relative to maximum drawdown

1.36

1.16

+0.20

Martin ratioReturn relative to average drawdown

4.89

4.42

+0.47

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

REET vs. GQRE - Sharpe Ratio Comparison

The current REET Sharpe Ratio is 1.02, which is comparable to the GQRE Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of REET and GQRE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

REETGQREDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.02

1.01

+0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.13

0.12

+0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.21

0.21

0.00

Sharpe Ratio (All Time)

Calculated using the full available price history

0.25

0.30

-0.05

Drawdowns

REET vs. GQRE - Drawdown Comparison

The maximum REET drawdown since its inception was -44.59%, which is greater than GQRE's maximum drawdown of -41.87%. Use the drawdown chart below to compare losses from any high point for REET and GQRE.

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Drawdown Indicators

REETGQREDifference

Max Drawdown

Largest peak-to-trough decline

-44.59%

-41.87%

-2.72%

Max Drawdown (1Y)

Largest decline over 1 year

-9.04%

-10.15%

+1.11%

Max Drawdown (3Y)

Largest decline over 3 years

-18.02%

-16.17%

-1.85%

Max Drawdown (5Y)

Largest decline over 5 years

-32.11%

-35.08%

+2.97%

Max Drawdown (10Y)

Largest decline over 10 years

-44.59%

-41.87%

-2.72%

Current Drawdown

Current decline from peak

-2.83%

-3.43%

+0.60%

Average Drawdown

Average peak-to-trough decline

-9.79%

-9.24%

-0.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.51%

2.66%

-0.15%

Volatility

REET vs. GQRE - Volatility Comparison

iShares Global REIT ETF (REET) has a higher volatility of 3.79% compared to FlexShares Global Quality Real Estate Index Fund (GQRE) at 3.53%. This indicates that REET's price experiences larger fluctuations and is considered to be riskier than GQRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

REETGQREDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.79%

3.53%

+0.26%

Volatility (6M)

Calculated over the trailing 6-month period

8.81%

8.77%

+0.04%

Volatility (1Y)

Calculated over the trailing 1-year period

12.10%

11.64%

+0.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.95%

16.45%

+0.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.84%

17.66%

+1.18%

REET vs. GQRE - Expense Ratio Comparison

REET has a 0.14% expense ratio, which is lower than GQRE's 0.45% expense ratio.

Dividends

REET vs. GQRE - Dividend Comparison

REET's dividend yield for the trailing twelve months is around 3.42%, less than GQRE's 4.36% yield.

PositionTTM20252024202320222021202020192018201720162015
GQRE
FlexShares Global Quality Real Estate Index Fund		4.36%4.75%3.77%2.91%2.56%2.36%2.05%4.29%3.22%1.97%4.16%2.32%
REET
iShares Global REIT ETF		3.42%3.67%3.64%3.27%2.43%3.18%2.65%5.25%5.73%3.84%5.37%3.56%

Frequently Asked Questions

With a correlation of 0.94, REET and GQRE 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.

REET has higher volatility (3.79%) compared to GQRE (3.53%). In terms of maximum drawdown, REET dropped -44.59% vs GQRE's -41.87%.

On 10-year performance, REET leads with 3.99% vs 3.78% for GQRE. On fees, REET is cheaper at 0.14% per year. On volatility, GQRE has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, REET has performed better with a 3.99% return vs 3.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

REET is cheaper with a 0.14% expense ratio, compared with 0.45% for GQRE.

GQRE has the higher dividend yield at 4.36%, compared with 3.42% for REET.

REET tracks FTSE EPRA/NAREIT Global REIT Index, while GQRE tracks Northern Trust Global Quality Real Estate (NR). They also come from different issuers: iShares and Northern Trust. Their fees differ too: 0.14% for REET and 0.45% for GQRE.

REET currently has the higher Sharpe Ratio (1.02 vs 1.01), 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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