REZ vs. PGZ
REZ (iShares Residential Real Estate ETF) is REIT fund tracking the FTSE NAREIT All Residential Capped Index, while PGZ (Principal Real Estate Income Fund) is a stock. Over the past 10 years, REZ returned 7.05%/yr vs 4.01%/yr for PGZ. At a 0.43 correlation, their price movements are largely independent.
Performance
REZ vs. PGZ - Performance Comparison
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Returns By Period
In the year-to-date period, REZ achieves a 12.29% return, which is significantly higher than PGZ's 6.74% return. Over the past 10 years, REZ has outperformed PGZ with an annualized return of 7.05%, while PGZ has yielded a comparatively lower 4.01% annualized return.
REZ
- 1D
- 0.89%
- 1M
- 0.88%
- YTD
- 12.29%
- 6M
- 12.93%
- 1Y
- 13.92%
- 3Y*
- 10.92%
- 5Y*
- 4.39%
- 10Y*
- 7.05%
PGZ
- 1D
- -0.03%
- 1M
- 3.28%
- YTD
- 6.74%
- 6M
- 7.55%
- 1Y
- 8.40%
- 3Y*
- 15.84%
- 5Y*
- 2.17%
- 10Y*
- 4.01%
REZ vs. PGZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REZ iShares Residential Real Estate ETF | 12.29% | 4.80% | 12.73% | 10.97% | -28.31% | 47.86% | -6.62% | 24.49% | 3.89% | 3.87% |
PGZ Principal Real Estate Income Fund | 6.74% | 14.50% | 17.99% | 4.05% | -27.98% | 38.70% | -36.50% | 36.77% | 3.92% | 18.23% |
Correlation
The correlation between REZ and PGZ is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2013 | 0.43 |
The correlation between REZ and PGZ shifts across timeframes, from 0.40 (1 year) to 0.51 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
REZ vs. PGZ — Risk / Return Rank
REZ
PGZ
REZ vs. PGZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Residential Real Estate ETF (REZ) and Principal Real Estate Income Fund (PGZ). 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.
| REZ | PGZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.17 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 0.86 | +0.74 |
| Martin ratioReturn relative to average drawdown | 4.86 | 3.22 | +1.64 |
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Drawdowns
REZ vs. PGZ - Drawdown Comparison
The maximum REZ drawdown since its inception was -66.87%, which is greater than PGZ's maximum drawdown of -53.58%. Use the drawdown chart below to compare losses from any high point for REZ and PGZ.
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Drawdown Indicators
| REZ | PGZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.87% | -53.58% | -13.29% |
Max Drawdown (1Y)Largest decline over 1 year | -8.76% | -9.82% | +1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -18.39% | -10.56% | -7.83% |
Max Drawdown (5Y)Largest decline over 5 years | -35.05% | -35.34% | +0.29% |
Max Drawdown (10Y)Largest decline over 10 years | -44.15% | -53.58% | +9.43% |
Current DrawdownCurrent decline from peak | 0.00% | -9.07% | +9.07% |
Average DrawdownAverage peak-to-trough decline | -12.67% | -16.12% | +3.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.87% | 2.61% | +0.26% |
Volatility
REZ vs. PGZ - Volatility Comparison
iShares Residential Real Estate ETF (REZ) has a higher volatility of 5.69% compared to Principal Real Estate Income Fund (PGZ) at 3.05%. This indicates that REZ's price experiences larger fluctuations and is considered to be riskier than PGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REZ | PGZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 3.05% | +2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 11.14% | 8.85% | +2.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.73% | 10.27% | +4.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.97% | 14.94% | +4.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.55% | 21.80% | -0.25% |
Dividends
REZ vs. PGZ - Dividend Comparison
REZ's dividend yield for the trailing twelve months is around 2.05%, less than PGZ's 12.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGZ Principal Real Estate Income Fund | 12.42% | 12.59% | 12.75% | 13.33% | 11.86% | 6.32% | 10.34% | 6.25% | 7.98% | 9.51% | 10.90% | 10.40% |
REZ iShares Residential Real Estate ETF | 2.05% | 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
REZ and PGZ have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REZ has higher volatility (5.69%) compared to PGZ (3.05%). In terms of maximum drawdown, REZ dropped -66.87% vs PGZ's -53.58%.
REZ currently has the higher Sharpe Ratio (0.95 vs 0.82), 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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