REM vs. IYRI
REM (iShares Mortgage Real Estate ETF) and IYRI (NEOS Real Estate High Income ETF) are both exchange-traded funds - REM is a REIT fund tracking the FTSE NAREIT All Mortgage Capped Index, while IYRI is a Derivative Income fund tracking the Dow Jones U.S. Real Estate Capped Index. Both are passively managed. Over the past year, REM returned 11.53% vs 8.34% for IYRI. A 0.61 correlation means they provide meaningful diversification when combined. REM charges 0.48%/yr vs 0.68%/yr for IYRI.
Performance
REM vs. IYRI - Performance Comparison
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Returns By Period
In the year-to-date period, REM achieves a -2.10% return, which is significantly lower than IYRI's 4.08% return.
REM
- 1D
- -1.24%
- 1M
- -4.86%
- YTD
- -2.10%
- 6M
- -2.10%
- 1Y
- 11.53%
- 3Y*
- 8.00%
- 5Y*
- -2.48%
- 10Y*
- 2.55%
IYRI
- 1D
- 0.17%
- 1M
- -1.04%
- YTD
- 4.08%
- 6M
- 3.47%
- 1Y
- 8.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
REM vs. IYRI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
REM iShares Mortgage Real Estate ETF | -2.10% | 12.30% |
IYRI NEOS Real Estate High Income ETF | 4.08% | 7.95% |
Correlation
The correlation between REM and IYRI is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2025 | 0.61 |
The correlation between REM and IYRI has been stable across timeframes, ranging from 0.57 to 0.61 - a consistent structural relationship.
REM vs. IYRI - Sectors Allocation Comparison
Sectors
REM
IYRI
Real Estate
Financial Services
-
Basic Materials
-
Communication Services
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
-
Healthcare
-
-
Industrials
-
-
Technology
-
-
Utilities
-
-
Real Estate
REM
IYRI
Financial Services
REM
IYRI
-
Basic Materials
REM
-
IYRI
Communication Services
REM
-
IYRI
Consumer Cyclical
REM
-
IYRI
-
Consumer Defensive
REM
-
IYRI
-
Energy
REM
-
IYRI
-
Healthcare
REM
-
IYRI
-
Industrials
REM
-
IYRI
-
Technology
REM
-
IYRI
-
Utilities
REM
-
IYRI
-
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Return for Risk
REM vs. IYRI — Risk / Return Rank
REM
IYRI
REM vs. IYRI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Mortgage Real Estate ETF (REM) 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.
| REM | IYRI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.15 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.81 | 1.11 | -0.30 |
| Martin ratioReturn relative to average drawdown | 2.33 | 4.00 | -1.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| REM | IYRI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.69 | 0.81 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.11 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.05 | 0.68 | -0.73 |
Drawdowns
REM vs. IYRI - Drawdown Comparison
The maximum REM drawdown since its inception was -74.73%, which is greater than IYRI's maximum drawdown of -12.12%. Use the drawdown chart below to compare losses from any high point for REM and IYRI.
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Drawdown Indicators
| REM | IYRI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.73% | -12.12% | -62.61% |
Max Drawdown (1Y)Largest decline over 1 year | -14.25% | -7.53% | -6.72% |
Max Drawdown (3Y)Largest decline over 3 years | -21.91% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -43.31% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -68.52% | — | — |
Current DrawdownCurrent decline from peak | -23.85% | -2.17% | -21.68% |
Average DrawdownAverage peak-to-trough decline | -38.35% | -1.72% | -36.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.95% | 2.09% | +2.86% |
Volatility
REM vs. IYRI - Volatility Comparison
iShares Mortgage Real Estate ETF (REM) has a higher volatility of 3.81% compared to NEOS Real Estate High Income ETF (IYRI) at 3.03%. This indicates that REM'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.
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Volatility by Period
| REM | IYRI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.81% | 3.03% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 13.01% | 7.17% | +5.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.85% | 10.31% | +6.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.57% | 13.07% | +10.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.27% | 13.07% | +15.20% |
REM vs. IYRI - Expense Ratio Comparison
REM has a 0.48% expense ratio, which is lower than IYRI's 0.68% expense ratio.
Dividends
REM vs. IYRI - Dividend Comparison
REM's dividend yield for the trailing twelve months is around 9.19%, less than IYRI's 11.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYRI NEOS Real Estate High Income ETF | 11.27% | 11.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
REM iShares Mortgage Real Estate ETF | 9.19% | 8.70% | 9.61% | 9.46% | 11.13% | 7.29% | 7.72% | 8.16% | 10.00% | 9.97% | 10.03% | 11.99% |
Frequently Asked Questions
REM and IYRI have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REM has higher volatility (3.81%) compared to IYRI (3.03%). In terms of maximum drawdown, REM dropped -74.73% vs IYRI's -12.12%.
On 1-year performance, REM leads with 11.53% vs 8.34% for IYRI. On fees, REM is cheaper at 0.48% per year. On volatility, IYRI has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, REM has performed better with a 11.53% return vs 8.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
REM is cheaper with a 0.48% expense ratio, compared with 0.68% for IYRI.
IYRI has the higher dividend yield at 11.27%, compared with 9.19% for REM.
REM is categorized as REIT, while IYRI is Derivative Income. REM tracks FTSE NAREIT All Mortgage Capped Index, while IYRI tracks Dow Jones U.S. Real Estate Capped Index. They also come from different issuers: iShares and Neos. Their fees differ too: 0.48% for REM and 0.68% for IYRI.
IYRI currently has the higher Sharpe Ratio (0.81 vs 0.69), 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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