REZ vs. HYGI

Last updated Jun 9, 2026

REZ (iShares Residential Real Estate ETF) and HYGI (iShares Inflation Hedged High Yield Bond ETF) are both exchange-traded funds - REZ is a REIT fund tracking the FTSE NAREIT All Residential Capped Index, while HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Both are passively managed. At a 0.43 correlation, their price movements are largely independent. REZ charges 0.48%/yr vs 0.52%/yr for HYGI.

Performance

REZ vs. HYGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Residential Real Estate ETF (REZ) and iShares Inflation Hedged High Yield Bond ETF (HYGI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

REZ

• 1D: -1.64%
• 1M: -2.07%
• YTD: 8.03%
• 6M: 6.75%
• 1Y: 10.29%
• 3Y*: 9.61%
• 5Y*: 3.77%
• 10Y*: 6.63%

HYGI

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

REZ vs. HYGI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
REZ iShares Residential Real Estate ETF	8.03%	4.80%	12.73%	10.97%	-12.97%
HYGI iShares Inflation Hedged High Yield Bond ETF	0.00%	6.20%	9.16%	11.71%	0.65%

Correlation

The correlation between REZ and HYGI is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (All Time) Calculated using the full available price history since Jun 27, 2022	0.43

Over the past year, the correlation between REZ and HYGI has dropped to 0.14 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

REZ vs. HYGI - Sectors Allocation Comparison

Sectors	REZ	HYGI
Real Estate	99.4%	0.4%
Financial Services	0.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	99.6%

Return for Risk

REZ vs. HYGI — Risk / Return Rank

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

REZ

REZ Risk / Return Rank: 24
REZ Sharpe Ratio Rank: 23
REZ Sortino Ratio Rank: 21
REZ Omega Ratio Rank: 21
REZ Calmar Ratio Rank: 27
REZ Martin Ratio Rank: 28

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.

REZ vs. HYGI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Residential Real Estate ETF (REZ) and iShares Inflation Hedged High Yield Bond ETF (HYGI). 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.

	REZ	HYGI	Difference
Sharpe ratio: Return per unit of total volatility	0.71	—	—
Sortino ratio: Return per unit of downside risk	1.04	—	—
Omega ratio: Gain probability vs. loss probability	1.13	—	—
Calmar ratio: Return relative to maximum drawdown	1.18	—	—
Martin ratio: Return relative to average drawdown	3.59	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	REZ	HYGI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	—	—

Drawdowns

Drawdown Indicators

	REZ	HYGI	Difference
Max Drawdown Largest peak-to-trough decline	-66.87%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.76%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.05%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.15%	—	—
Current Drawdown Current decline from peak	-3.16%	—	—
Average Drawdown Average peak-to-trough decline	-12.68%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	—	—

Volatility

Volatility by Period

	REZ	HYGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.50%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.94%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.53%	—	—

REZ vs. HYGI - Expense Ratio Comparison

REZ has a 0.48% expense ratio, which is lower than HYGI's 0.52% expense ratio.

Dividends

REZ vs. HYGI - Dividend Comparison

REZ's dividend yield for the trailing twelve months is around 2.13%, while HYGI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYGI iShares Inflation Hedged High Yield Bond ETF	0.97%	3.41%	6.08%	6.22%	3.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
REZ iShares Residential Real Estate ETF	2.13%	2.74%	2.26%	2.94%	3.37%	1.81%	3.17%	2.90%	3.63%	3.57%	5.55%	3.18%

Frequently Asked Questions

Can I hold both REZ and HYGI in my portfolio?

REZ and HYGI have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, REZ or HYGI?

On fees, REZ is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, REZ or HYGI?

REZ is cheaper with a 0.48% expense ratio, compared with 0.52% for HYGI.

Which ETF pays a higher dividend yield, REZ or HYGI?

REZ has the higher dividend yield at 2.13%, compared with 0.97% for HYGI.

What is the main difference between REZ and HYGI?

REZ is categorized as REIT, while HYGI is Inflation-Protected Bonds. REZ tracks FTSE NAREIT All Residential Capped Index, while HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Their fees differ too: 0.48% for REZ and 0.52% for HYGI.