DPRE vs PSR

DPRECVirtus Duff & Phelps Real Estate Income ETF

PSRAInvesco Active U.S. Real Estate ETF

In short

DPRE Most real estate ETFs buy REIT common stock and stop there. DPRE is actively run with income as the stated first goal, free to roam across REIT shares, preferred securities and property debt, in the US and abroad.

PSR Active REIT stock-picking without the active price tag: since 2008, PSR has run a tight book of about 30 US property names for 0.35% a year, roughly half the median fee among active US equity ETFs.

Stated mandate

DPRE The Fund seeks high current income, with capital appreciation as a secondary objective.

PSR The Fund seeks high total return through capital appreciation and current income, investing principally in equity real estate investment trusts.

Why people hold it

• DPRE Income leads the mandate: high current income is the primary objective, capital appreciation the secondary one, and the fund distributes quarterly.
• Works the whole capital stack, holding REIT equity, preferred securities and real estate debt rather than common stock alone.
• At 0.59%, the fee sits below the median for its active US equity peer group, unusual for a specialist active sleeve.
• The passport is open: global real estate companies, including emerging market issuers, sit inside the mandate alongside US property.

• PSR 0.35% a year against a 0.65% median for active US equity ETFs. Active management without the usual active-management markup.
• Running since 2008, across multiple rate regimes and property cycles, and it sits in the upper half of its active US equity peer group.
• Concentrated by design: about 30 equity REITs, so each holding carries real weight instead of being diluted across the entire property market.invesco.com
• The mandate targets capital appreciation plus current income from equity REITs, and the fund distributes quarterly.invesco.com

Worth knowing

• DPRE A small fund that trades thinly, which usually means wider bid-ask spreads than the giant index REIT funds.
• Launched in 2026 and actively managed, so there is little live history and outcomes ride on the managers' calls rather than an index.
• Roughly 60 positions, with rate-sensitive preferreds and debt in the mix, so single names and interest rates carry more weight than in a broad index.

• PSR Thinly traded. Spreads can widen and larger orders can move the price more than they would in a heavily traded index fund.
• One sector, one economy: US property. When rates jolt REITs, the portfolio has no other sector to lean on.
• Assets stay modest next to the giant index REIT funds, and smaller ETFs generally face a higher bar to stay open over the long haul.

Full DPRE profile⁠

Full PSR profile⁠