TSRS vs. IYRI

Last updated Jul 24, 2026

TSRS (Truth Social American Red State REITs ETF) and IYRI (NEOS Real Estate High Income ETF) are both exchange-traded funds - TSRS is a REIT fund tracking the Truth Social - Yorkville American Red State REITs Index, while IYRI is a Derivative Income fund actively managed by Neos. TSRS is passively managed, while IYRI is actively managed. A 0.80 correlation means they provide meaningful diversification when combined. TSRS charges 0.65%/yr vs 0.68%/yr for IYRI.

Performance

TSRS vs. IYRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Truth Social American Red State REITs ETF (TSRS) and NEOS Real Estate High Income ETF (IYRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSRS achieves a 14.71% return, which is significantly higher than IYRI's 9.05% return.

TSRS

• 1D: -0.64%
• 1M: 4.16%
• 6M: 12.04%
• YTD: 14.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

IYRI

• 1D: -0.02%
• 1M: 1.85%
• 6M: 7.03%
• YTD: 9.05%
• 1Y: 9.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.71%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IYRI NEOS Real Estate High Income ETF	$3.75M	$3.65M	$3.78M
TSRS Truth Social American Red State REITs ETF	$17.48K	$17.31K	$21.52K

TSRS vs. IYRI - Yearly Performance Comparison

	2026 (YTD)	2025
TSRS Truth Social American Red State REITs ETF	14.71%	-0.30%
IYRI NEOS Real Estate High Income ETF	9.05%	-0.78%

Correlation

The correlation between TSRS and IYRI is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 30, 2025	0.80

Return for Risk

TSRS vs. IYRI — Risk / Return Rank

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

TSRS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

IYRI

IYRI Risk / Return Rank: 32
IYRI Sharpe Ratio Rank: 32
IYRI Sortino Ratio Rank: 30
IYRI Omega Ratio Rank: 30
IYRI Calmar Ratio Rank: 33
IYRI Martin Ratio Rank: 38

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.

TSRS vs. IYRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Truth Social American Red State REITs ETF (TSRS) 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.

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.

	TSRS	IYRI	Difference
Sharpe ratio: Return per unit of total volatility	—	0.83	—
Sortino ratio: Return per unit of downside risk	—	1.21	—
Omega ratio: Gain probability vs. loss probability	—	1.15	—
Calmar ratio: Return relative to maximum drawdown	—	1.20	—
Martin ratio: Return relative to average drawdown	—	4.31	—

Drawdowns

TSRS vs. IYRI - Drawdown Comparison

The maximum TSRS drawdown since its inception was -8.32%, smaller than the maximum IYRI drawdown of -12.12%. Use the drawdown chart below to compare losses from any high point for TSRS and IYRI.

Drawdown Indicators

	TSRS	IYRI	Difference
Max Drawdown Largest peak-to-trough decline	-8.32%	-12.12%	+3.80%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.53%	—
Current Drawdown Current decline from peak	-1.86%	-0.61%	-1.25%
Average Drawdown Average peak-to-trough decline	-1.72%	-1.63%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.10%	—

Volatility

Volatility by Period

	TSRS	IYRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.00%	10.89%	+3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.00%	13.09%	+0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.00%	13.09%	+0.91%

TSRS vs. IYRI - Expense Ratio Comparison

TSRS has a 0.65% expense ratio, which is lower than IYRI's 0.68% expense ratio.

Dividends

TSRS vs. IYRI - Dividend Comparison

TSRS's dividend yield for the trailing twelve months is around 2.14%, less than IYRI's 10.88% yield.

Position	TTM	2025
IYRI NEOS Real Estate High Income ETF	10.88%	11.72%
TSRS Truth Social American Red State REITs ETF	2.14%	0.00%

Frequently Asked Questions

Can I hold both TSRS and IYRI in my portfolio?

TSRS and IYRI have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TSRS or IYRI?

On fees, TSRS is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSRS or IYRI?

TSRS is cheaper with a 0.65% expense ratio, compared with 0.68% for IYRI.

Which ETF pays a higher dividend yield, TSRS or IYRI?

IYRI has the higher dividend yield at 10.88%, compared with 2.14% for TSRS.

What is the main difference between TSRS and IYRI?

TSRS is categorized as REIT, while IYRI is Derivative Income. They also come from different issuers: Truth Social Funds and Neos. Their fees differ too: 0.65% for TSRS and 0.68% for IYRI.