REIT vs. IYRI

Last updated Jun 24, 2026

REIT (ALPS Active REIT ETF) and IYRI (NEOS Real Estate High Income ETF) are both exchange-traded funds - REIT is a REIT fund actively managed by ALPS, while IYRI is a Derivative Income fund actively managed by Neos. Both are actively managed. Over the past year, REIT returned 16.74% vs 9.17% for IYRI. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.68% expense ratio.

Performance

REIT vs. IYRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Active REIT ETF (REIT) 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, REIT achieves a 17.16% return, which is significantly higher than IYRI's 7.08% return.

REIT

• 1D: 1.28%
• 1M: 1.64%
• YTD: 17.16%
• 6M: 17.61%
• 1Y: 16.74%
• 3Y*: 12.73%
• 5Y*: 4.91%
• 10Y*: —

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)

REIT vs. IYRI - Yearly Performance Comparison

	2026 (YTD)	2025
REIT ALPS Active REIT ETF	17.16%	1.31%
IYRI NEOS Real Estate High Income ETF	7.08%	6.99%

Correlation

The correlation between REIT 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	0.91

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

Return for Risk

REIT vs. IYRI — Risk / Return Rank

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

REIT

REIT Risk / Return Rank: 39
REIT Sharpe Ratio Rank: 37
REIT Sortino Ratio Rank: 34
REIT Omega Ratio Rank: 35
REIT Calmar Ratio Rank: 49
REIT Martin Ratio Rank: 42

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.

REIT vs. IYRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Active REIT ETF (REIT) 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.

	REIT	IYRI	Difference
Sharpe ratio: Return per unit of total volatility	1.26	0.86	+0.40
Sortino ratio: Return per unit of downside risk	1.71	1.23	+0.48
Omega ratio: Gain probability vs. loss probability	1.22	1.16	+0.07
Calmar ratio: Return relative to maximum drawdown	2.29	1.22	+1.06
Martin ratio: Return relative to average drawdown	6.59	4.37	+2.22

REIT vs. IYRI - Sharpe Ratio Comparison

The current REIT Sharpe Ratio is 1.26, which is higher than the IYRI Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of REIT 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

REIT vs. IYRI - Drawdown Comparison

The maximum REIT drawdown since its inception was -29.30%, which is greater than IYRI's maximum drawdown of -12.12%. Use the drawdown chart below to compare losses from any high point for REIT and IYRI.

Drawdown Indicators

	REIT	IYRI	Difference
Max Drawdown Largest peak-to-trough decline	-29.30%	-12.12%	-17.18%
Max Drawdown (1Y) Largest decline over 1 year	-7.35%	-7.53%	+0.18%
Max Drawdown (3Y) Largest decline over 3 years	-18.19%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.30%	—	—
Current Drawdown Current decline from peak	-0.23%	-0.52%	+0.29%
Average Drawdown Average peak-to-trough decline	-10.28%	-1.69%	-8.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	2.10%	+0.44%

Volatility

REIT vs. IYRI - Volatility Comparison

ALPS Active REIT ETF (REIT) has a higher volatility of 5.05% compared to NEOS Real Estate High Income ETF (IYRI) at 4.21%. This indicates that REIT'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

	REIT	IYRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.05%	4.21%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	9.82%	7.94%	+1.88%
Volatility (1Y) Calculated over the trailing 1-year period	13.38%	10.80%	+2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.51%	13.20%	+5.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.38%	13.20%	+5.18%

REIT vs. IYRI - Expense Ratio Comparison

Both REIT and IYRI have an expense ratio of 0.68%.

Dividends

REIT vs. IYRI - Dividend Comparison

REIT's dividend yield for the trailing twelve months is around 2.72%, less than IYRI's 11.96% yield.

Position	TTM	2025	2024	2023	2022	2021
IYRI NEOS Real Estate High Income ETF	11.96%	11.72%	0.00%	0.00%	0.00%	0.00%
REIT ALPS Active REIT ETF	2.72%	3.20%	3.06%	3.13%	2.81%	4.71%

Frequently Asked Questions

Can I hold both REIT and IYRI in my portfolio?

With a correlation of 0.91, REIT 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, REIT or IYRI?

REIT has higher volatility (5.05%) compared to IYRI (4.21%). In terms of maximum drawdown, REIT dropped -29.30% vs IYRI's -12.12%.

Which ETF is better, REIT or IYRI?

On 1-year performance, REIT leads with 16.74% vs 9.17% for IYRI. Both ETFs have the same 0.68% expense ratio. 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, REIT or IYRI?

Over the 1-year period, REIT has performed better with a 16.74% return vs 9.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, REIT or IYRI?

REIT and IYRI have the same expense ratio: 0.68% per year.

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

IYRI has the higher dividend yield at 11.96%, compared with 2.72% for REIT.

What is the main difference between REIT and IYRI?

REIT is categorized as REIT, while IYRI is Derivative Income. They also come from different issuers: ALPS and Neos.

Which has better risk-adjusted returns?

REIT currently has the higher Sharpe Ratio (1.26 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.