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USRT vs. DFAR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USRT vs. DFAR

Last updated Jun 4, 2026

USRT (iShares Core U.S. REIT ETF) and DFAR (Dimensional US Real Estate ETF) are both REIT funds. USRT is passively managed, while DFAR is actively managed. Over the past 3 years, USRT returned 11.53%/yr vs 9.64%/yr for DFAR. With a 0.98 correlation, they move nearly in lockstep. USRT charges 0.08%/yr vs 0.19%/yr for DFAR.

Performance

USRT vs. DFAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core U.S. REIT ETF (USRT) and Dimensional US Real Estate ETF (DFAR). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, USRT achieves a 12.59% return, which is significantly higher than DFAR's 11.46% return.

USRT

1D
0.08%
1M
-0.19%
YTD
12.59%
6M
11.36%
1Y
15.26%
3Y*
11.53%
5Y*
4.73%
10Y*
6.21%

DFAR

1D
-0.04%
1M
-0.51%
YTD
11.46%
6M
10.41%
1Y
11.45%
3Y*
9.64%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

USRT vs. DFAR - Yearly Performance Comparison

2026 (YTD)2025202420232022
USRT
iShares Core U.S. REIT ETF		12.59%2.44%8.58%13.64%-15.46%
DFAR
Dimensional US Real Estate ETF		11.46%1.31%5.25%11.04%-14.30%

Correlation

The correlation between USRT and DFAR is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.98

Correlation (3Y)
Calculated over the trailing 3-year period

0.98

Correlation (All Time)
Calculated using the full available price history since Feb 25, 2022

0.98

The correlation between USRT and DFAR has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

USRT vs. DFAR - Sectors Allocation Comparison

Sectors
USRT
DFAR

Real Estate

99.4%
99.8%

Financial Services

0.1%
0.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

-

-

Real Estate

USRT
99.4%
DFAR
99.8%

Financial Services

USRT
0.1%
DFAR
0.0%

Basic Materials

USRT

-

DFAR

-

Communication Services

USRT

-

DFAR

-

Consumer Cyclical

USRT

-

DFAR

-

Consumer Defensive

USRT

-

DFAR

-

Energy

USRT

-

DFAR

-

Healthcare

USRT

-

DFAR

-

Industrials

USRT

-

DFAR

-

Technology

USRT

-

DFAR

-

Utilities

USRT

-

DFAR

-

Compare stocks, funds, or ETFs

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iShares Core U.S. REIT ETF

Dimensional US Real Estate ETF

Often compared with USRT:
USRT vs. VNQUSRT vs. XLREUSRT vs. REETUSRT vs. ICFUSRT vs. BBREUSRT vs. VOOUSRT vs. SCHD
Often compared with DFAR:
DFAR vs. DFGRDFAR vs. VNQDFAR vs. DFREXDFAR vs. AYEP.DEDFAR vs. FRELDFAR vs. RWODFAR vs. IXUS

Return for Risk

USRT vs. DFAR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USRT
USRT Risk / Return Rank: 3333
Overall Rank
USRT Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
USRT Sortino Ratio Rank: 2929
Sortino Ratio Rank
USRT Omega Ratio Rank: 2929
Omega Ratio Rank
USRT Calmar Ratio Rank: 3838
Calmar Ratio Rank
USRT Martin Ratio Rank: 3838
Martin Ratio Rank
DFAR
DFAR Risk / Return Rank: 2525
Overall Rank
DFAR Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
DFAR Sortino Ratio Rank: 2323
Sortino Ratio Rank
DFAR Omega Ratio Rank: 2323
Omega Ratio Rank
DFAR Calmar Ratio Rank: 2828
Calmar Ratio Rank
DFAR Martin Ratio Rank: 2929
Martin Ratio Rank
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.

USRT vs. DFAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core U.S. REIT ETF (USRT) and Dimensional US Real Estate ETF (DFAR). 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.

USRTDFARDifference
Sharpe ratioReturn per unit of total volatility
1.15
0.88

+0.28

Sortino ratioReturn per unit of downside risk
1.63
1.25

+0.37

Omega ratioGain probability vs. loss probability

1.20

1.16

+0.05

Calmar ratioReturn relative to maximum drawdown

1.91

1.36

+0.54

Martin ratioReturn relative to average drawdown

6.15

4.29

+1.86

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USRT vs. DFAR - Sharpe Ratio Comparison

The current USRT Sharpe Ratio is 1.15, which is higher than the DFAR Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of USRT and DFAR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

USRTDFARDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.15

0.88

+0.28

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.25

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.29

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.18

0.15

+0.03

Drawdowns

USRT vs. DFAR - Drawdown Comparison

The maximum USRT drawdown since its inception was -69.91%, which is greater than DFAR's maximum drawdown of -32.27%. Use the drawdown chart below to compare losses from any high point for USRT and DFAR.

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Drawdown Indicators

USRTDFARDifference

Max Drawdown

Largest peak-to-trough decline

-69.91%

-32.27%

-37.64%

Max Drawdown (1Y)

Largest decline over 1 year

-8.04%

-8.43%

+0.39%

Max Drawdown (3Y)

Largest decline over 3 years

-18.70%

-17.64%

-1.06%

Max Drawdown (5Y)

Largest decline over 5 years

-31.03%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-44.38%

—

—

Current Drawdown

Current decline from peak

-3.01%

-3.01%

0.00%

Average Drawdown

Average peak-to-trough decline

-12.97%

-14.22%

+1.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.49%

2.67%

-0.18%

Volatility

USRT vs. DFAR - Volatility Comparison

iShares Core U.S. REIT ETF (USRT) has a higher volatility of 3.92% compared to Dimensional US Real Estate ETF (DFAR) at 3.71%. This indicates that USRT's price experiences larger fluctuations and is considered to be riskier than DFAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USRTDFARDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.92%

3.71%

+0.21%

Volatility (6M)

Calculated over the trailing 6-month period

9.25%

9.40%

-0.15%

Volatility (1Y)

Calculated over the trailing 1-year period

13.28%

13.10%

+0.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.89%

19.13%

-0.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.28%

19.13%

+2.15%

USRT vs. DFAR - Expense Ratio Comparison

USRT has a 0.08% expense ratio, which is lower than DFAR's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

USRT vs. DFAR - Dividend Comparison

USRT's dividend yield for the trailing twelve months is around 2.67%, less than DFAR's 2.77% yield.

PositionTTM20252024202320222021202020192018201720162015
DFAR
Dimensional US Real Estate ETF		2.77%2.97%2.89%3.06%1.69%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
USRT
iShares Core U.S. REIT ETF		2.67%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

With a correlation of 0.98, USRT and DFAR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

USRT has higher volatility (3.92%) compared to DFAR (3.71%). In terms of maximum drawdown, USRT dropped -69.91% vs DFAR's -32.27%.

On 3-year performance, USRT leads with 11.53% vs 9.64% for DFAR. On fees, USRT is cheaper at 0.08% per year. On volatility, DFAR has been the lower-risk option at 3.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, USRT has performed better with a 11.53% return vs 9.64%. 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 0.19% for DFAR.

DFAR has the higher dividend yield at 2.77%, compared with 2.67% for USRT.

They also come from different issuers: iShares and Dimensional. Their fees differ too: 0.08% for USRT and 0.19% for DFAR.

USRT currently has the higher Sharpe Ratio (1.15 vs 0.88), 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.

Portfolio Optimizer

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