USRT vs. FRI
Compare and contrast key facts about iShares Core U.S. REIT ETF (USRT) and First Trust S&P REIT Index Fund (FRI).
USRT and FRI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. USRT is a passively managed fund by iShares that tracks the performance of the FTSE NAREIT Equity REITs Index. It was launched on May 4, 2007. FRI is a passively managed fund by First Trust that tracks the performance of the S&P United States REIT. It was launched on May 8, 2007. Both USRT and FRI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
USRT vs. FRI - Performance Comparison
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USRT vs. FRI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USRT iShares Core U.S. REIT ETF | 4.27% | 2.44% | 8.58% | 13.64% | -24.43% | 43.26% | -8.06% | 25.98% | -4.67% | 5.27% |
FRI First Trust S&P REIT Index Fund | 4.55% | 2.80% | 7.84% | 13.33% | -24.66% | 42.55% | -7.90% | 23.67% | -4.28% | 3.86% |
Returns By Period
In the year-to-date period, USRT achieves a 4.27% return, which is significantly lower than FRI's 4.55% return. Over the past 10 years, USRT has outperformed FRI with an annualized return of 5.42%, while FRI has yielded a comparatively lower 4.97% annualized return.
USRT
- 1D
- 1.42%
- 1M
- -6.02%
- YTD
- 4.27%
- 6M
- 2.38%
- 1Y
- 5.82%
- 3Y*
- 8.72%
- 5Y*
- 5.12%
- 10Y*
- 5.42%
FRI
- 1D
- 1.58%
- 1M
- -5.55%
- YTD
- 4.55%
- 6M
- 2.82%
- 1Y
- 6.47%
- 3Y*
- 8.59%
- 5Y*
- 5.00%
- 10Y*
- 4.97%
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USRT vs. FRI - Expense Ratio Comparison
USRT has a 0.08% expense ratio, which is lower than FRI's 0.50% expense ratio.
Return for Risk
USRT vs. FRI — Risk / Return Rank
USRT
FRI
USRT vs. FRI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core U.S. REIT ETF (USRT) and First Trust S&P REIT Index Fund (FRI). 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.
| USRT | FRI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.35 | 0.39 | -0.04 |
Sortino ratioReturn per unit of downside risk | 0.59 | 0.64 | -0.05 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.09 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.53 | 0.59 | -0.05 |
Martin ratioReturn relative to average drawdown | 2.23 | 2.57 | -0.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| USRT | FRI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.35 | 0.39 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.27 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | 0.24 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.17 | 0.00 |
Correlation
The correlation between USRT and FRI is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
USRT vs. FRI - Dividend Comparison
USRT's dividend yield for the trailing twelve months is around 2.89%, more than FRI's 2.78% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USRT iShares Core U.S. REIT ETF | 2.89% | 3.07% | 2.85% | 3.18% | 3.46% | 2.27% | 3.12% | 3.34% | 5.66% | 3.44% | 3.98% | 3.59% |
FRI First Trust S&P REIT Index Fund | 2.78% | 2.99% | 3.33% | 3.24% | 2.52% | 1.44% | 3.08% | 2.28% | 3.21% | 2.82% | 3.27% | 2.66% |
Drawdowns
USRT vs. FRI - Drawdown Comparison
The maximum USRT drawdown since its inception was -69.91%, roughly equal to the maximum FRI drawdown of -71.95%. Use the drawdown chart below to compare losses from any high point for USRT and FRI.
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Drawdown Indicators
| USRT | FRI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.91% | -71.95% | +2.04% |
Max Drawdown (1Y)Largest decline over 1 year | -12.95% | -13.12% | +0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -31.03% | -31.21% | +0.18% |
Max Drawdown (10Y)Largest decline over 10 years | -44.38% | -44.16% | -0.22% |
Current DrawdownCurrent decline from peak | -6.38% | -5.88% | -0.50% |
Average DrawdownAverage peak-to-trough decline | -13.08% | -13.82% | +0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 2.99% | +0.10% |
Volatility
USRT vs. FRI - Volatility Comparison
iShares Core U.S. REIT ETF (USRT) and First Trust S&P REIT Index Fund (FRI) have volatilities of 4.44% and 4.33%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USRT | FRI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.44% | 4.33% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 9.21% | 9.01% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.84% | 16.75% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 18.67% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.28% | 21.06% | +0.22% |