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XRES.L vs. IYR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XRES.L vs. IYR

Last updated Jun 5, 2026

XRES.L (Invesco Real Estate S&P US Select Sector UCITS ETF Acc) and IYR (iShares U.S. Real Estate ETF) are both REIT funds - XRES.L tracks the S&P Select Sector Capped 20% Real Estate Index while IYR tracks the Dow Jones U.S. Real Estate Index. Both are passively managed. Over the past 10 years, XRES.L returned 6.39%/yr vs 5.72%/yr for IYR. A 0.60 correlation means they provide meaningful diversification when combined. XRES.L charges 0.14%/yr vs 0.42%/yr for IYR.

Performance

XRES.L vs. IYR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Real Estate S&P US Select Sector UCITS ETF Acc (XRES.L) and iShares U.S. Real Estate ETF (IYR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with XRES.L having a 9.04% return and IYR slightly lower at 8.72%. Over the past 10 years, XRES.L has outperformed IYR with an annualized return of 6.39%, while IYR has yielded a comparatively lower 5.72% annualized return.

XRES.L

1D
-0.02%
1M
-0.28%
YTD
9.04%
6M
8.82%
1Y
9.37%
3Y*
9.53%
5Y*
2.78%
10Y*
6.39%

IYR

1D
1.79%
1M
-0.15%
YTD
8.72%
6M
7.83%
1Y
10.09%
3Y*
9.57%
5Y*
2.39%
10Y*
5.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XRES.L vs. IYR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XRES.L
Invesco Real Estate S&P US Select Sector UCITS ETF Acc		9.04%3.99%2.44%12.71%-25.97%46.91%-3.45%27.10%-2.96%10.89%
IYR
iShares U.S. Real Estate ETF		8.72%3.38%4.41%11.89%-25.51%38.74%-5.23%28.21%-4.33%9.31%

Correlation

The correlation between XRES.L and IYR is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.55

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

0.60

Correlation (5Y)
Calculated over the trailing 5-year period

0.57

Correlation (10Y)
Calculated over the trailing 10-year period

0.60

Correlation (All Time)
Calculated using the full available price history since Feb 22, 2016

0.60

The correlation between XRES.L and IYR has been stable across timeframes, ranging from 0.55 to 0.60 - a consistent structural relationship.

XRES.L vs. IYR - Sectors Allocation Comparison

Sectors
XRES.L
IYR

Real Estate

100.0%
97.9%

Basic Materials

-

1.3%

Communication Services

-

0.6%

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

-

-

Real Estate

XRES.L
100.0%
IYR
97.9%

Basic Materials

XRES.L

-

IYR
1.3%

Communication Services

XRES.L

-

IYR
0.6%

Consumer Cyclical

XRES.L

-

IYR

-

Consumer Defensive

XRES.L

-

IYR

-

Energy

XRES.L

-

IYR

-

Financial Services

XRES.L

-

IYR

-

Healthcare

XRES.L

-

IYR

-

Industrials

XRES.L

-

IYR

-

Technology

XRES.L

-

IYR

-

Utilities

XRES.L

-

IYR

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Real Estate S&P US Select Sector UCITS ETF Acc

iShares U.S. Real Estate ETF

Often compared with XRES.L:
XRES.L vs. XLREXRES.L vs. VNQXRES.L vs. VWRA.LXRES.L vs. IUSP.LXRES.L vs. REMXRES.L vs. GBRE.LXRES.L vs. FREL
Often compared with IYR:
IYR vs. VNQIYR vs. XLREIYR vs. VOOIYR vs. REZIYR vs. ICFIYR vs. REMIYR vs. FRI

Return for Risk

XRES.L vs. IYR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XRES.L
XRES.L Risk / Return Rank: 2323
Overall Rank
XRES.L Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
XRES.L Sortino Ratio Rank: 2121
Sortino Ratio Rank
XRES.L Omega Ratio Rank: 2020
Omega Ratio Rank
XRES.L Calmar Ratio Rank: 2626
Calmar Ratio Rank
XRES.L Martin Ratio Rank: 2525
Martin Ratio Rank
IYR
IYR Risk / Return Rank: 2424
Overall Rank
IYR Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
IYR Sortino Ratio Rank: 2222
Sortino Ratio Rank
IYR Omega Ratio Rank: 2222
Omega Ratio Rank
IYR Calmar Ratio Rank: 2525
Calmar Ratio Rank
IYR Martin Ratio Rank: 2727
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.

XRES.L vs. IYR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Real Estate S&P US Select Sector UCITS ETF Acc (XRES.L) and iShares U.S. Real Estate ETF (IYR). 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.

XRES.LIYRDifference
Sharpe ratioReturn per unit of total volatility
0.71
0.76

-0.06

Sortino ratioReturn per unit of downside risk
1.08
1.12

-0.04

Omega ratioGain probability vs. loss probability

1.12

1.14

-0.01

Calmar ratioReturn relative to maximum drawdown

1.23

1.19

+0.05

Martin ratioReturn relative to average drawdown

3.26

3.70

-0.45

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

XRES.L vs. IYR - Sharpe Ratio Comparison

The current XRES.L Sharpe Ratio is 0.71, which is comparable to the IYR Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of XRES.L and IYR, 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

XRES.LIYRDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.71

0.76

-0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.15

0.13

+0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.34

0.28

+0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.39

0.33

+0.06

Drawdowns

XRES.L vs. IYR - Drawdown Comparison

The maximum XRES.L drawdown since its inception was -37.84%, smaller than the maximum IYR drawdown of -74.13%. Use the drawdown chart below to compare losses from any high point for XRES.L and IYR.

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Drawdown Indicators

XRES.LIYRDifference

Max Drawdown

Largest peak-to-trough decline

-37.84%

-74.13%

+36.29%

Max Drawdown (1Y)

Largest decline over 1 year

-7.56%

-8.54%

+0.98%

Max Drawdown (3Y)

Largest decline over 3 years

-17.95%

-17.52%

-0.43%

Max Drawdown (5Y)

Largest decline over 5 years

-34.70%

-33.75%

-0.95%

Max Drawdown (10Y)

Largest decline over 10 years

-37.84%

-42.32%

+4.48%

Current Drawdown

Current decline from peak

-3.19%

-2.19%

-1.00%

Average Drawdown

Average peak-to-trough decline

-10.17%

-12.91%

+2.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.87%

2.73%

+0.14%

Volatility

XRES.L vs. IYR - Volatility Comparison

Invesco Real Estate S&P US Select Sector UCITS ETF Acc (XRES.L) has a higher volatility of 4.47% compared to iShares U.S. Real Estate ETF (IYR) at 4.12%. This indicates that XRES.L's price experiences larger fluctuations and is considered to be riskier than IYR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XRES.LIYRDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.47%

4.12%

+0.35%

Volatility (6M)

Calculated over the trailing 6-month period

9.68%

9.50%

+0.18%

Volatility (1Y)

Calculated over the trailing 1-year period

13.25%

13.30%

-0.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.47%

18.73%

-0.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.89%

20.32%

-1.43%

XRES.L vs. IYR - Expense Ratio Comparison

XRES.L has a 0.14% expense ratio, which is lower than IYR's 0.42% expense ratio.

Dividends

XRES.L vs. IYR - Dividend Comparison

XRES.L has not paid dividends to shareholders, while IYR's dividend yield for the trailing twelve months is around 2.21%.

PositionTTM20252024202320222021202020192018201720162015
IYR
iShares U.S. Real Estate ETF		2.21%2.48%2.57%2.75%2.92%2.06%2.58%3.05%3.53%3.73%4.41%3.92%
XRES.L
Invesco Real Estate S&P US Select Sector UCITS ETF Acc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XRES.L and IYR have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XRES.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XRES.L is cheaper with a 0.14% expense ratio, compared with 0.42% for IYR.

XRES.L tracks S&P Select Sector Capped 20% Real Estate Index, while IYR tracks Dow Jones U.S. Real Estate Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.14% for XRES.L and 0.42% for IYR.

Portfolio Optimizer

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