REM vs. KBWY
REM (iShares Mortgage Real Estate ETF) and KBWY (Invesco KBW Premium Yield Equity REIT ETF) are both REIT funds - REM tracks the FTSE NAREIT All Mortgage Capped Index while KBWY tracks the KBW Premium Yield Equity REIT Index. Both are passively managed. Over the past 10 years, REM returned 2.55%/yr vs 1.18%/yr for KBWY. A 0.66 correlation means they provide meaningful diversification when combined. REM charges 0.48%/yr vs 0.35%/yr for KBWY.
Performance
REM vs. KBWY - 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 KBWY's 17.06% return. Over the past 10 years, REM has outperformed KBWY with an annualized return of 2.55%, while KBWY has yielded a comparatively lower 1.18% annualized 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%
KBWY
- 1D
- -0.81%
- 1M
- 5.63%
- YTD
- 17.06%
- 6M
- 17.05%
- 1Y
- 22.51%
- 3Y*
- 9.10%
- 5Y*
- 2.15%
- 10Y*
- 1.18%
REM vs. KBWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REM iShares Mortgage Real Estate ETF | -2.10% | 13.30% | -1.00% | 14.43% | -27.56% | 16.14% | -19.99% | 21.34% | -3.09% | 18.43% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 17.06% | -5.30% | -3.49% | 12.88% | -19.00% | 31.22% | -25.83% | 23.36% | -18.20% | 0.81% |
Correlation
The correlation between REM and KBWY is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2010 | 0.66 |
The correlation between REM and KBWY has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.
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Return for Risk
REM vs. KBWY — Risk / Return Rank
REM
KBWY
REM vs. KBWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Mortgage Real Estate ETF (REM) and Invesco KBW Premium Yield Equity REIT ETF (KBWY). 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 | KBWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.23 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.81 | 2.45 | -1.63 |
| Martin ratioReturn relative to average drawdown | 2.33 | 5.82 | -3.48 |
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 | KBWY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.69 | 1.38 | -0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.11 | 0.10 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | 0.04 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.05 | 0.20 | -0.24 |
Drawdowns
REM vs. KBWY - Drawdown Comparison
The maximum REM drawdown since its inception was -74.73%, which is greater than KBWY's maximum drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for REM and KBWY.
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Drawdown Indicators
| REM | KBWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.73% | -57.68% | -17.05% |
Max Drawdown (1Y)Largest decline over 1 year | -14.25% | -9.24% | -5.01% |
Max Drawdown (3Y)Largest decline over 3 years | -21.91% | -29.93% | +8.02% |
Max Drawdown (5Y)Largest decline over 5 years | -43.31% | -32.29% | -11.02% |
Max Drawdown (10Y)Largest decline over 10 years | -68.52% | -57.68% | -10.84% |
Current DrawdownCurrent decline from peak | -23.85% | -10.82% | -13.03% |
Average DrawdownAverage peak-to-trough decline | -38.35% | -14.18% | -24.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.95% | 3.88% | +1.07% |
Volatility
REM vs. KBWY - Volatility Comparison
The current volatility for iShares Mortgage Real Estate ETF (REM) is 3.81%, while Invesco KBW Premium Yield Equity REIT ETF (KBWY) has a volatility of 4.73%. This indicates that REM experiences smaller price fluctuations and is considered to be less risky than KBWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REM | KBWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.81% | 4.73% | -0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 13.01% | 11.61% | +1.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.85% | 16.44% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.57% | 21.61% | +1.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.27% | 27.05% | +1.22% |
REM vs. KBWY - Expense Ratio Comparison
REM has a 0.48% expense ratio, which is higher than KBWY's 0.35% expense ratio.
Dividends
REM vs. KBWY - Dividend Comparison
REM's dividend yield for the trailing twelve months is around 9.19%, more than KBWY's 8.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWY Invesco KBW Premium Yield Equity REIT ETF | 8.64% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
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 KBWY have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KBWY has higher volatility (4.73%) compared to REM (3.81%). In terms of maximum drawdown, REM dropped -74.73% vs KBWY's -57.68%.
On 10-year performance, REM leads with 2.55% vs 1.18% for KBWY. On fees, KBWY is cheaper at 0.35% per year. On volatility, REM has been the lower-risk option at 3.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, REM has performed better with a 2.55% return vs 1.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KBWY is cheaper with a 0.35% expense ratio, compared with 0.48% for REM.
REM has the higher dividend yield at 9.19%, compared with 8.64% for KBWY.
REM tracks FTSE NAREIT All Mortgage Capped Index, while KBWY tracks KBW Premium Yield Equity REIT Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.48% for REM and 0.35% for KBWY.
KBWY currently has the higher Sharpe Ratio (1.38 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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