IYR vs SCHH: Grades, Fees and Holdings Compared

iShares U.S. Real Estate ETF

IYRBNYSE Arca

Schwab U.S. REIT ETF

SCHHANYSE Arca

Overlap

87.9%by weight

Expense ratio

SCHH −0.30pt a year

IYR0.37%SCHH0.07%

Avg volume · 30D

SCHH 1.4×the volume

IYR5.58MSCHH7.72M

10Y return · a year

IYR +1.5pt

IYR+6.4%SCHH+4.9%

IYR vs SCHH Performance

Nov 9, 2021 – Nov 9, 2026

+6.9%IYR+11.4%SCHH

Expense ratio: IYR 0.37%; SCHH 0.07%, better
Fund size: IYR $3.99B; SCHH $11.2B
1Y total return: IYR +10.5%; SCHH +15.1%, better
Yield (12M): IYR 2.31%; SCHH 2.84%, better
Holdings: IYR 61; SCHH 119
Avg volume (30D): IYR 5.58M sh; SCHH 7.72M sh, better
NAV per share: IYR $101.63; SCHH $23.50
52W range

ETF.net Grade

Pillar letters and Scores for IYR, SCHH, with each pillar’s weight
Pillar	IYR	SCHH
Cost30% weight	C43	A93Higher
Mission25% weight	Not scored	A100
Risk15% weight	C49	B57Higher
Tradability15% weight	A96Higher	A78
Holdings10% weight	D39	B67Higher
Durability5% weight	A78	A78

Rank among US Real Estate funds

How we build Categories ›

Same Category. IYR and SCHH are both graded against the same 21 US Real Estate funds, so their Grades compare head to head.

US Real Estate⁠

Category · 21 funds

See all 21 ›

SCHH ranks 1st and IYR 12th of 21 funds in the US Real Estate Category.

Rank 1ASCHHSchwab U.S. REIT ETFScore 83
Rank 1AUSRTiShares Core U.S. REIT ETFScore 83
Rank 11BKBWYInvesco KBW Premium Yield Equity REIT ETFScore 58
Rank 12BIYRiShares U.S. Real Estate ETFScore 56
Rank 13CREZiShares Residential and Multisector Real Estate ETFScore 53

Our read on each fund

ETF.net Research

IYRBiShares U.S. Real Estate ETF

SCHHASchwab U.S. REIT ETF

In short

IYR Launched in 2000, IYR is one of the original one-ticker bets on U.S. real estate: REITs plus the developers, managers and property agencies that pure-REIT funds skip. Heavily traded, sector-median price.

SCHH Landlord exposure at a rounding-error price. SCHH owns the US equity REIT market, roughly 120 of them, for 0.07% a year, a fraction of what the typical real estate fund charges.

Stated mandate

IYR The fund seeks to track an index composed of U.S. equities in the real estate sector.

SCHH The fund seeks to track, before fees and expenses, an index of U.S. equity-classified real estate investment trusts.

Why people hold it

IYR Vintage 2000, and still one of the most actively traded real estate funds around, which is why traders reach for it when they want the sector in a hurry.
Broader than a pure REIT fund: the index also holds companies that develop, manage or own property, including property agencies.spglobal.com ishares.com
The index applies a cap so no single landlord dominates, across roughly 60 names, and the fund pays shareholders quarterly.spglobal.com

SCHH 0.07% a year undercuts every major broad REIT rival: VNQ at 0.13%, USRT, FREL and XLRE at 0.08%, against a 0.37% category median.
Straight-up landlords. The index covers US equity-classified REITs, the companies that own and rent property, not the wider real estate services trade.schwabassetmanagement.com
It hugs its index about as closely as anything in the broad US REIT group, one of the strongest implementations among its peers.
A multi-billion-dollar fund that trades heavily, which keeps spreads tight for retail-size orders and has done since its 2011 launch.

Worth knowing

IYR The 0.37% fee sits at the middle of the real estate pack but well above index rivals like SCHH (0.07%) and VNQ (0.13%).
One sector, about 60 names. Expect moves that look nothing like the broad market in either direction.
Reaching past REITs means part of the portfolio is operating and service companies, whose income looks different from a rent collector's.spglobal.com

SCHH One sector, about 120 names. It moves with property markets and interest rates, not the broad market, so the ride is bumpier than a total-market fund.
Income arrives quarterly, not monthly, which matters if you budget off distributions.
US only, and equity REITs only: no overseas property and no mortgage REITs in the mix.schwabassetmanagement.com

Full IYR profile⁠

Full SCHH profile⁠

IYR vs SCHH Holdings

How IYR and SCHH differ

Overlap by weight

87.9%

Shared holdings make up 91.8% of IYR and 87.9% of SCHH.

Level by level

Asset classReal Estate, Stocks0.0%
Sector15 Sectors0.0%
Holdings49 in both87.9%
Countryby domicile100%

Sector

Sector weights in IYR and SCHH, widest gap first
Sector	Gap	IYR	SCHH
Real Estate	SCHH +100.0 points	0.0%	100.0%
Health Care REITs	IYR +19.4 points	19.4%	0.0%
Retail Reits	IYR +14.9 points	14.9%	0.0%
Industrial REITs	IYR +12.0 points	12.0%	0.0%
Telecom Tower REITs	IYR +10.1 points	10.1%	0.0%
Data Center REITs	IYR +9.2 points	9.2%	0.0%
Self Storage REITs	IYR +8.1 points	8.1%	0.0%
Multi-Family Residential REITs	IYR +8.0 points	8.0%	0.0%
Real Estate Services	IYR +6.0 points	6.0%	0.0%
Single-Family Residential REITs	IYR +4.2 points	4.2%	0.0%
Mortgage Reits	IYR +2.8 points	2.8%	0.0%
Office REITs	IYR +1.7 points	1.7%	0.0%
Hotel & Resort REITs	IYR +1.3 points	1.3%	0.0%
TIMBER REITS	IYR +1.3 points	1.3%	0.0%
Diversified REIT's	IYR +1.2 points	1.2%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in IYR and SCHH, widest gap first
Country	More in IYRMore in SCHH	Gap	IYR	SCHH
United States		Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

IYR52.8%
SCHH51.4%

Securities held

IYR58
SCHH118

Asset class

IYR: Real Estate
SCHH: Stocks

Holdings

Only in IYR9
In both49
Only in SCHH69

Only in IYR

9 securities, 8.1% of IYR by weight

Cbre Group Class A2.91%
Jones Lang Lasalle1.29%
Annaly Capital Management Reit1.07%
Costar Group0.93%
Agnc Investment Reit0.78%
Rithm Capital0.39%
Zillow Group Class C0.35%
Starwood Property Trust Reit Inc0.32%
Zillow Group Class A0.09%

Only in SCHH

69 securities, 12.1% of SCHH by weight

Caretrust Reit0.64%
Ryman Hospitality Properties Reit0.64%
Terreno Realty Reit0.51%
Macerich Reit0.50%
Essential Properties Realty Trust0.43%
Rayonier Reit0.42%
Outfront Media0.38%
Phillips Edison and Company0.37%
Kite Realty Group Trust Reit0.36%
Americold Realty Inc Trust0.32%
Epr Properties Reit0.32%
Tanger0.31%
Kilroy Realty Reit0.29%
Apple Hospitality Reit Inc0.29%
Millrose Properties Inc Class A0.28%
Copt Defense Properties0.26%
Sl Green Realty Reit Corp0.25%
Independence Realty0.25%
National Health Investors Reit0.25%
Highwoods Properties Reit0.25%
Broadstone Net Lease0.24%
Park Hotels Resorts Inc0.22%
Curbline Properties0.22%
Diamondrock Hospitality0.20%
Janus Living Inc Class A0.20%
Acadia Realty Trust Reit0.19%
Urban Edge Properties0.18%
Four Corners Property Inc Trust0.18%
Inventrust Properties0.17%
Ltc Properties Reit0.17%
Pebblebrook Hotel Trust Reit0.17%
Sunstone Hotel Investors Reit Inc0.16%
Smartstop Self Storage Reit Inc0.15%
Xenia Hotels Resorts Reit0.14%
Netstreit0.13%
Rlj Lodging Trust Reit0.12%
Douglas Emmett Reit0.12%
Getty Realty Reit0.12%
Diversified Healthcare Trust0.11%
Innovative Industrial Properties I0.11%
Blackstone Digital Infrastructure0.10%
Global Net Lease Inc0.10%
Piedmont Realty Trust Class A0.09%
Umh Properties Inc0.08%
American Assets Trust Reit0.07%
Easterly Government Properties Inc0.07%
Centerspace0.07%
Cbl Associates Properties0.06%
Medical Properties Trust Reit0.06%
Ssc Government Mm Gvmxx0.05%

Weight gaps

All 49 Holdings in both funds, largest gap first.

Holding weights in IYR and SCHH, widest gap first
Holding	Gap	IYR	SCHH
Prologis ReitPLD	IYR +0.40 points	8.51%	8.11%
Public Storage ReitPSA	IYR +0.27 points	4.28%	4.01%
Realty Income ReitO	IYR +0.26 points	4.21%	3.94%
Vivmark ResidentialVMRK	IYR +0.22 points	3.55%	3.33%
Ventas ReitVTR	IYR +0.22 points	3.43%	3.21%
Crown Castle IncCCI	IYR +0.18 points	2.84%	2.66%
Extra Space Storage ReitEXR	IYR +0.16 points	2.54%	2.38%
Iron Mountain IncIRM	IYR +0.15 points	2.39%	2.24%
Vici Pptys IncVICI	IYR +0.13 points	2.06%	1.93%
Sba Communications Reit Corp ClassSBAC	IYR +0.10 points	1.52%	1.42%
Essex Property Trust ReitESS	IYR +0.08 points	1.32%	1.24%
Kimco Realty Reit CorpKIM	IYR +0.08 points	1.29%	1.21%
Host Hotels & Resorts ReitHST	IYR +0.08 points	1.27%	1.19%
Weyerhaeuser ReitWY	IYR +0.07 points	1.14%	1.07%
W. P. Carey ReitWPC	IYR +0.07 points	1.12%	1.05%
Sun Communities Reit IncSUI	IYR +0.07 points	1.10%	1.03%
Omega Healthcare Investors ReitOHI	IYR +0.07 points	1.10%	1.03%
Invitation HomesINVH	IYR +0.07 points	1.10%	1.03%
Healthpeak Properties IncDOC	IYR +0.06 points	1.05%	0.99%
Mid America Apartment CommunitiesMAA	IYR +0.07 points	1.04%	0.97%
Lamar Advertising Company ClasLAMR	IYR +0.06 points	1.02%	0.96%
American Healthcare ReitAHR	IYR +0.06 points	0.95%	0.89%
Regency Centers Reit CorpREG	IYR +0.06 points	0.94%	0.88%
Equity Lifestyle Properties Reit IELS	IYR +0.06 points	0.92%	0.86%
Gaming and Leisure Properties ReitGLPI	IYR +0.05 points	0.85%	0.80%
Udr ReitUDR	IYR +0.05 points	0.81%	0.76%
Eastgroup Properties ReitEGP	IYR +0.05 points	0.78%	0.73%
BxpBXP	IYR +0.05 points	0.78%	0.73%
American Homes Rent Reit Class AAMH	IYR +0.05 points	0.78%	0.73%
Camden Property Trust ReitCPT	IYR +0.04 points	0.75%	0.71%
Cubesmart ReitCUBE	IYR +0.05 points	0.72%	0.67%
Brixmor Property Group Reit IncBRX	IYR +0.04 points	0.69%	0.65%
Rexford Industrial Realty ReitREXR	IYR +0.05 points	0.64%	0.59%
Federal Realty Investment Trust ReFRT	IYR +0.04 points	0.68%	0.64%
Agree Realty ReitADC	IYR +0.04 points	0.65%	0.61%
Nnn ReitNNN	IYR +0.04 points	0.59%	0.56%
Alexandria Real Estate Equities ReARE	IYR +0.03 points	0.53%	0.50%
First Industrial Realty TrustFR	IYR +0.04 points	0.54%	0.50%
Stag Industrial ReitSTAG	IYR +0.03 points	0.53%	0.50%
Healthcare Realty Trust Inc ClassHR	IYR +0.04 points	0.50%	0.46%
Vornado Realty Trust ReitVNO	IYR +0.02 points	0.43%	0.41%
Sabra Health Care ReitSBRA	IYR +0.02 points	0.40%	0.38%
Cousins Properties Reit IncCUZ	IYR +0.03 points	0.37%	0.34%
WelltowerWELL	IYR +0.02 points	10.29%	10.27%
LineageLINE	IYR +0.01 points	0.17%	0.16%
American Tower ReitAMT	IYR +0.01 points	4.92%	4.91%
Simon Property Group Reit IncSPG	IYR +0.01 points	4.90%	4.89%
Equinix ReitEQIX	IYR +0.01 points	4.48%	4.47%
Digital Realty Trust ReitDLR	Same weight	4.27%	4.27%

All 58 IYR holdings⁠All 120 SCHH holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IYR vs SCHH Cost

Overpaying IYR vs SCHH

$6,033

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

IYR 0.37%
$7,513
SCHH 0.07%
$1,480

Amount$10,000

Years30 years

Cost over time

IYR 0.37%
SCHH 0.07%
Overpaying

Year by year

Year	IYR	SCHH	Overpaying
10	$670	$128	$542
20	$2,590	$503	$2,087
30	$7,513	$1,480	$6,033

Expense ratio

0.37%IYR
0.07%SCHH, cheaper

SCHH0.07%IYR0.37%

0.07%0.65%

Middle half of US Real Estate funds
Median 0.35%

SCHH cheapest of 21 funds

IYR 13th cheapest of 21 funds

IYR vs SCHH Dividends

Last 12 months to Nov 9, 2026

Yield (12M): IYR 2.31%; SCHH 2.84%, better
Payout (12M): IYR $2.39; SCHH $0.68
Last payment: IYR $0.74; SCHH $0.17
Ex-dividend: IYR Sep 15, 2026; SCHH Sep 23, 2026
Paid on: IYR Sep 18, 2026; SCHH Sep 28, 2026
Frequency: IYR Quarterly; SCHH Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IYRQuarterly · 39 paymentsAll IYR payments⁠

SCHHQuarterly · 40 paymentsAll SCHH payments⁠

IYR vs SCHH Risk

Fall from peak · 5 years

IYR
SCHH

Risk facts

VolatilityStd dev, 3 years: IYR 16.5%SCHH 16.3%, better
Return per unit of riskSharpe ratio, 3 years: IYR 0.53SCHH 0.60, better
Worst fallMax drawdown, 5 years: IYR −33.7%SCHH −33.3%, better
Market sensitivityBeta, 5 years: IYR 0.98SCHH 0.93; Market = 1

IYR and SCHH in the news

All news⁠

Deep Dive
The 10-year is back at 5.01%. Listed REIT funds fell 2%
Sep 19, 2026IYRSCHH
Category Review
Vanguard's property fund lost a first-half lead over stocks
Updated Oct 8, 2026SCHH
Deep Dive
Vanguard's property fund is up 4% this year. Mortgage funds are down 15%
Oct 5, 2026SCHH
Deep Dive
Equity REIT funds fell 1.3%. VanEck's mortgage REIT fund hit a 52-week low
Sep 12, 2026SCHH
News
Independence Realty to take Centerspace in 3.800-share all-stock merger
Sep 9, 2026SCHH
Deep Dive
September's $2.74 billion CMBS wall is half of August's, with more already in special servicing
Sep 5, 2026SCHH

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