XRT vs. IYR
XRT (SPDR S&P Retail ETF) and IYR (iShares U.S. Real Estate ETF) are both exchange-traded funds - XRT is a Consumer Discretionary Equities fund tracking the S&P Retail Select Industry, while IYR is a REIT fund tracking the Dow Jones U.S. Real Estate Index. Both are passively managed. Over the past 10 years, XRT returned 9.52%/yr vs 5.97%/yr for IYR. A 0.57 correlation means they provide meaningful diversification when combined. XRT charges 0.35%/yr vs 0.42%/yr for IYR.
Performance
XRT vs. IYR - Performance Comparison
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Returns By Period
In the year-to-date period, XRT achieves a 3.14% return, which is significantly lower than IYR's 11.47% return. Over the past 10 years, XRT has outperformed IYR with an annualized return of 9.52%, while IYR has yielded a comparatively lower 5.97% annualized return.
XRT
- 1D
- 0.07%
- 1M
- 9.14%
- YTD
- 3.14%
- 6M
- 0.29%
- 1Y
- 17.43%
- 3Y*
- 12.80%
- 5Y*
- -0.36%
- 10Y*
- 9.52%
IYR
- 1D
- 0.89%
- 1M
- 3.00%
- YTD
- 11.47%
- 6M
- 11.46%
- 1Y
- 12.40%
- 3Y*
- 9.71%
- 5Y*
- 2.47%
- 10Y*
- 5.97%
XRT vs. IYR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XRT SPDR S&P Retail ETF | 3.14% | 8.07% | 11.78% | 21.53% | -31.64% | 42.60% | 41.91% | 14.12% | -8.04% | 4.22% |
IYR iShares U.S. Real Estate ETF | 11.47% | 3.38% | 4.41% | 11.89% | -25.51% | 38.74% | -5.23% | 28.21% | -4.33% | 9.31% |
Correlation
The correlation between XRT and IYR is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2006 | 0.57 |
The correlation between XRT and IYR has been stable across timeframes, ranging from 0.48 to 0.57 - a consistent structural relationship.
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Return for Risk
XRT vs. IYR — Risk / Return Rank
XRT
IYR
XRT vs. IYR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Retail ETF (XRT) 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.
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.
| XRT | IYR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.15 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.34 | -0.25 |
| Martin ratioReturn relative to average drawdown | 2.48 | 4.19 | -1.71 |
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Drawdowns
XRT vs. IYR - Drawdown Comparison
The maximum XRT drawdown since its inception was -65.81%, smaller than the maximum IYR drawdown of -74.13%. Use the drawdown chart below to compare losses from any high point for XRT and IYR.
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Drawdown Indicators
| XRT | IYR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.81% | -74.13% | +8.32% |
Max Drawdown (1Y)Largest decline over 1 year | -13.53% | -8.54% | -4.99% |
Max Drawdown (3Y)Largest decline over 3 years | -25.62% | -17.52% | -8.10% |
Max Drawdown (5Y)Largest decline over 5 years | -44.57% | -33.75% | -10.82% |
Max Drawdown (10Y)Largest decline over 10 years | -47.02% | -42.32% | -4.70% |
Current DrawdownCurrent decline from peak | -9.32% | 0.00% | -9.32% |
Average DrawdownAverage peak-to-trough decline | -14.99% | -12.89% | -2.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.92% | 2.73% | +3.19% |
Volatility
XRT vs. IYR - Volatility Comparison
SPDR S&P Retail ETF (XRT) has a higher volatility of 5.73% compared to iShares U.S. Real Estate ETF (IYR) at 4.80%. This indicates that XRT'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
| XRT | IYR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.73% | 4.80% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 13.90% | 9.87% | +4.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.59% | 13.58% | +7.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.91% | 18.76% | +8.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.17% | 20.34% | +6.83% |
XRT vs. IYR - Expense Ratio Comparison
XRT has a 0.35% expense ratio, which is lower than IYR's 0.42% expense ratio.
Dividends
XRT vs. IYR - Dividend Comparison
XRT's dividend yield for the trailing twelve months is around 0.79%, less than IYR's 2.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYR iShares U.S. Real Estate ETF | 2.15% | 2.48% | 2.57% | 2.75% | 2.92% | 2.06% | 2.58% | 3.05% | 3.53% | 3.73% | 4.41% | 3.92% |
XRT SPDR S&P Retail ETF | 0.79% | 0.77% | 1.52% | 1.40% | 2.15% | 1.55% | 1.01% | 1.57% | 1.51% | 1.52% | 1.36% | 1.30% |
Frequently Asked Questions
XRT and IYR have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XRT has higher volatility (5.73%) compared to IYR (4.80%). In terms of maximum drawdown, XRT dropped -65.81% vs IYR's -74.13%.
On 10-year performance, XRT leads with 9.52% vs 5.97% for IYR. On fees, XRT is cheaper at 0.35% per year. On volatility, IYR has been the lower-risk option at 4.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XRT has performed better with a 9.52% return vs 5.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XRT is cheaper with a 0.35% expense ratio, compared with 0.42% for IYR.
IYR has the higher dividend yield at 2.15%, compared with 0.79% for XRT.
XRT is categorized as Consumer Discretionary Equities, while IYR is REIT. XRT tracks S&P Retail Select Industry, while IYR tracks Dow Jones U.S. Real Estate Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.35% for XRT and 0.42% for IYR.
IYR currently has the higher Sharpe Ratio (0.84 vs 0.72), 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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