REM vs. USRT
REM (iShares Mortgage Real Estate ETF) and USRT (iShares Core U.S. REIT ETF) are both REIT funds from iShares - REM tracks the FTSE NAREIT All Mortgage Capped Index while USRT tracks the FTSE Nareit Equity REITS 40 Act Capped Index. Both are passively managed. Over the past 10 years, REM returned 2.86%/yr vs 6.53%/yr for USRT. A 0.64 correlation means they provide meaningful diversification when combined. REM charges 0.48%/yr vs 0.08%/yr for USRT.
Performance
REM vs. USRT - Performance Comparison
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Returns By Period
In the year-to-date period, REM achieves a -0.15% return, which is significantly lower than USRT's 17.49% return. Over the past 10 years, REM has underperformed USRT with an annualized return of 2.86%, while USRT has yielded a comparatively higher 6.53% annualized return.
REM
- 1D
- 0.94%
- 1M
- 1.19%
- YTD
- -0.15%
- 6M
- 0.03%
- 1Y
- 11.49%
- 3Y*
- 8.08%
- 5Y*
- -2.46%
- 10Y*
- 2.86%
USRT
- 1D
- 1.30%
- 1M
- 1.84%
- YTD
- 17.49%
- 6M
- 17.97%
- 1Y
- 18.57%
- 3Y*
- 14.08%
- 5Y*
- 5.53%
- 10Y*
- 6.53%
REM vs. USRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REM iShares Mortgage Real Estate ETF | -0.15% | 13.30% | -1.00% | 14.43% | -27.56% | 16.14% | -19.99% | 21.34% | -3.09% | 18.43% |
USRT iShares Core U.S. REIT ETF | 17.49% | 2.44% | 8.58% | 13.64% | -24.43% | 43.26% | -8.06% | 25.98% | -4.67% | 5.27% |
Correlation
The correlation between REM and USRT is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since May 4, 2007 | 0.64 |
The correlation between REM and USRT has been stable across timeframes, ranging from 0.59 to 0.66 - a consistent structural relationship.
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Return for Risk
REM vs. USRT — Risk / Return Rank
REM
USRT
REM vs. USRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Mortgage Real Estate ETF (REM) and iShares Core U.S. REIT ETF (USRT). 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.
| REM | USRT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.24 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.81 | 2.32 | -1.51 |
| Martin ratioReturn relative to average drawdown | 2.18 | 7.44 | -5.27 |
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Drawdowns
REM vs. USRT - Drawdown Comparison
The maximum REM drawdown since its inception was -74.73%, which is greater than USRT's maximum drawdown of -69.92%. Use the drawdown chart below to compare losses from any high point for REM and USRT.
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Drawdown Indicators
| REM | USRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.73% | -69.92% | -4.81% |
Max Drawdown (1Y)Largest decline over 1 year | -14.25% | -8.04% | -6.21% |
Max Drawdown (3Y)Largest decline over 3 years | -21.91% | -18.70% | -3.21% |
Max Drawdown (5Y)Largest decline over 5 years | -43.31% | -31.03% | -12.28% |
Max Drawdown (10Y)Largest decline over 10 years | -68.52% | -44.38% | -24.14% |
Current DrawdownCurrent decline from peak | -22.34% | -0.25% | -22.09% |
Average DrawdownAverage peak-to-trough decline | -38.30% | -12.94% | -25.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.29% | 2.50% | +2.79% |
Volatility
REM vs. USRT - Volatility Comparison
The current volatility for iShares Mortgage Real Estate ETF (REM) is 4.80%, while iShares Core U.S. REIT ETF (USRT) has a volatility of 5.19%. This indicates that REM experiences smaller price fluctuations and is considered to be less risky than USRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REM | USRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 5.19% | -0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 13.38% | 10.06% | +3.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.01% | 13.89% | +3.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.57% | 18.93% | +4.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.31% | 21.33% | +6.98% |
REM vs. USRT - Expense Ratio Comparison
REM has a 0.48% expense ratio, which is higher than USRT's 0.08% expense ratio.
Dividends
REM vs. USRT - Dividend Comparison
REM's dividend yield for the trailing twelve months is around 9.02%, more than USRT's 2.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
REM iShares Mortgage Real Estate ETF | 9.02% | 8.70% | 9.61% | 9.46% | 11.13% | 7.29% | 7.72% | 8.16% | 10.00% | 9.97% | 10.03% | 11.99% |
USRT iShares Core U.S. REIT ETF | 2.57% | 3.07% | 2.85% | 3.18% | 3.46% | 2.27% | 3.12% | 3.34% | 5.66% | 3.44% | 3.98% | 3.59% |
Frequently Asked Questions
REM and USRT have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USRT has higher volatility (5.19%) compared to REM (4.80%). In terms of maximum drawdown, REM dropped -74.73% vs USRT's -69.92%.
On 10-year performance, USRT leads with 6.53% vs 2.86% for REM. On fees, USRT is cheaper at 0.08% per year. On volatility, REM has been the lower-risk option at 4.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USRT has performed better with a 6.53% return vs 2.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USRT is cheaper with a 0.08% expense ratio, compared with 0.48% for REM.
REM has the higher dividend yield at 9.02%, compared with 2.57% for USRT.
REM tracks FTSE NAREIT All Mortgage Capped Index, while USRT tracks FTSE Nareit Equity REITS 40 Act Capped Index. Their fees differ too: 0.48% for REM and 0.08% for USRT.
USRT currently has the higher Sharpe Ratio (1.35 vs 0.68), 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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