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IYR vs VNQ

iShares U.S. Real Estate ETF

IYRBNYSE Arca

Vanguard Real Estate ETF

VNQANYSE Arca

Overlap

Expense ratio

VNQ −0.24pt a year

IYR0.37%VNQ0.13%

Avg volume · 30D

IYR 1.5×the volume

IYR5.58MVNQ3.69M

10Y return · a year

IYR +0.2pt

IYR+6.4%VNQ+6.2%

IYR vs VNQ Performance

Nov 9, 2021 – Nov 9, 2026

+6.9%IYR+7.4%VNQ

Nov 9, 2021 to Nov 9, 2026. IYR +6.9%. VNQ +7.4%. Use the arrow keys to read each point.−30%−20%−10%Nov 2021May 2024Nov 2026
Expense ratio
IYR 0.37%
VNQ 0.13%, better
Fund size
IYR $3.99B
VNQ $35.9B
1Y total return
IYR +10.5%
VNQ +11.9%, better
Yield (12M)
IYR 2.31%
VNQ 3.50%, better
Holdings
IYR 61
VNQ 157
Avg volume (30D)
IYR 5.58M sh, better
VNQ 3.69M sh
NAV per share
IYR $101.63
VNQ $95.72
52W range

ETF.net Grade

IYR: Cost 43, Risk 49, Mission not scored, Tradability 96, Holdings 39, Durability 78. VNQ: Cost 76, Risk 53, Mission 100, Tradability 57, Holdings 66, Durability 90.
Pillar letters and Scores for IYR, VNQ, with each pillar’s weight
PillarIYRVNQ
Cost30% weightC43A76Higher
Mission25% weightNot scoredA100
Risk15% weightC49C53Higher
Tradability15% weightA96HigherB57
Holdings10% weightD39B66Higher
Durability5% weightA78A90Higher

Rank among US Real Estate funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. IYR and VNQ 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 ›

VNQ ranks 6th and IYR 12th of 21 funds in the US Real Estate Category.

  1. Rank 5ADFARDFA Real Estate Securities Portfolio ETF Class SharesScore 76
  2. Rank 6AVNQVanguard Real Estate ETFScore 75
  3. Rank 7ARWRState Street SPDR Dow Jones REIT ETFScore 73
  4. Rank 11BKBWYInvesco KBW Premium Yield Equity REIT ETFScore 58
  5. Rank 12BIYRiShares U.S. Real Estate ETFScore 56
  6. Rank 13CREZiShares Residential and Multisector Real Estate ETFScore 53

Our read on each fund

ETF.net Research

IYRBiShares U.S. Real Estate ETF

VNQAVanguard Real Estate 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.

VNQ The 2004 original in US listed real estate: one ticker for nearly the whole property market, from the biggest landlords down to small ones, at a fraction of the typical sector fee.

Stated mandate

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

VNQ The fund seeks high income and moderate long-term capital appreciation by tracking an index of publicly traded equity REITs and other U.S. real-estate-related investments.

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.comishares.com
  • The index applies a cap so no single landlord dominates, across roughly 60 names, and the fund pays shareholders quarterly.spglobal.com
  • VNQ 0.13% a year versus a peer-group median of 0.37%. On a sector fund, the fee is the part you actually control.
  • Full replication of the MSCI US IM Real Estate 25/50 Index: about 160 names, and the 25/50 rules cap how big any single issuer can get.vanguard.com
  • A multi-tens-of-billions fund and one of the most actively traded in its category, so entering and exiting rarely means fighting the spread.
  • Income is the stated mandate: high income plus moderate long-term capital appreciation from listed REITs, paid out quarterly, with Vanguard running it since 2004.vanguard.com

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
  • VNQ Not the cheapest shelf in the aisle. SCHH charges 0.07% and USRT, FREL and XLRE 0.08%, so a few basis points separate it from its closest rivals.
  • One sector, and a rate-sensitive one. REIT borrowing costs and valuations track interest rates, so the ride is bumpier than a total-market fund.vanguard.com
  • The index reaches past classic landlords into data-center and other specialized REITs plus real estate services and development firms. Broader than pure property.vanguard.com

Full IYR profile⁠

Full VNQ profile⁠

IYR vs VNQ 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 VNQ Cost

Overpaying IYR vs VNQ

$4,787

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

  • IYR 0.37%

    $7,513

  • VNQ 0.13%

    $2,726

$10,000
30 years

Cost over time

  • IYR 0.37%
  • VNQ 0.13%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530IYR $7,513VNQ $2,726

Year by year

YearIYRVNQOverpaying
10$670$238$432
20$2,590$930$1,660
30$7,513$2,726$4,787

Expense ratio

  • 0.37%IYR
  • 0.13%VNQ, cheaper
  • Middle half of US Real Estate funds
  • Median 0.35%

VNQ 6th cheapest of 21 funds

IYR 13th cheapest of 21 funds

IYR vs VNQ Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
IYR 2.31%
VNQ 3.50%, better
Payout (12M)
IYR $2.39
VNQ $3.41
Last payment
IYR $0.74
VNQ $0.80
Ex-dividend
IYR Sep 15, 2026
VNQ Sep 23, 2026
Paid on
IYR Sep 18, 2026
VNQ Sep 25, 2026
Frequency
IYR Quarterly
VNQ Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IYRQuarterly · 39 paymentsAll IYR payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 24, 2017 $0.75; Jun 27, 2017 $0.72; Sep 26, 2017 $0.68; Dec 19, 2017 $0.87; Mar 22, 2018 $0.62; Jun 26, 2018 $0.78; Sep 26, 2018 $0.78; Dec 17, 2018 $0.47; Mar 20, 2019 $0.60; Jun 17, 2019 $0.69; Sep 24, 2019 $0.66; Dec 16, 2019 $0.89; Mar 25, 2020 $0.60; Jun 15, 2020 $0.53; Sep 23, 2020 $0.48; Dec 14, 2020 $0.60; Mar 25, 2021 $0.44; Jun 10, 2021 $0.52; Sep 24, 2021 $0.29; Dec 13, 2021 $1.14; Mar 24, 2022 $0.43; Jun 9, 2022 $0.35; Sep 26, 2022 $0.89; Dec 13, 2022 $0.78; Mar 23, 2023 $0.45; Jun 7, 2023 $0.40; Sep 26, 2023 $0.90; Dec 20, 2023 $0.77; Mar 21, 2024 $0.34; Jun 11, 2024 $0.55; Sep 25, 2024 $0.71; Dec 17, 2024 $0.80; Mar 18, 2025 $0.36; Jun 16, 2025 $0.49; Sep 16, 2025 $0.62; Dec 16, 2025 $0.86; Mar 17, 2026 $0.28; Jun 15, 2026 $0.51; Sep 15, 2026 $0.74. Use the arrow keys to read each point.$0$12017202020232026YTD
VNQQuarterly · 39 paymentsAll VNQ payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 22, 2017 $0.60; Jun 23, 2017 $0.80; Sep 22, 2017 $0.85; Dec 21, 2017 $1.26; Mar 26, 2018 $0.71; Jun 18, 2018 $0.73; Sep 24, 2018 $1.14; Dec 13, 2018 $0.95; Mar 28, 2019 $0.62; Jun 27, 2019 $0.83; Sep 24, 2019 $0.74; Dec 18, 2019 $0.96; Mar 10, 2020 $0.65; Jun 25, 2020 $0.76; Sep 25, 2020 $0.59; Dec 24, 2020 $1.34; Mar 25, 2021 $0.53; Jun 24, 2021 $0.73; Sep 24, 2021 $0.66; Dec 27, 2021 $1.05; Mar 23, 2022 $0.58; Jun 23, 2022 $0.57; Sep 23, 2022 $0.92; Dec 22, 2022 $1.16; Mar 24, 2023 $0.77; Jun 29, 2023 $0.93; Sep 28, 2023 $0.73; Dec 21, 2023 $1.07; Mar 22, 2024 $0.73; Jun 28, 2024 $1.03; Sep 27, 2024 $0.81; Dec 23, 2024 $0.86; Mar 25, 2025 $0.93; Jun 26, 2025 $0.87; Sep 24, 2025 $0.87; Dec 22, 2025 $0.80; Mar 24, 2026 $0.95; Jun 24, 2026 $0.86; Sep 23, 2026 $0.80. Use the arrow keys to read each point.$0$12017202020232026YTD

IYR vs VNQ Risk

Fall from peak · 5 years

  • IYR
  • VNQ
Nov 9, 2021 to Nov 9, 2026. Worst fall: VNQ −34.5% · Oct 2023. Use the arrow keys to read each point.−30%−20%−10%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
IYR 16.5%VNQ 16.5%Same figure. Both funds show the same value, so neither comes out ahead.
Return per unit of riskSharpe ratio, 3 years
IYR 0.53VNQ 0.56, better
Worst fallMax drawdown, 5 years
IYR −33.7%, betterVNQ −34.5%
Market sensitivityBeta, 5 years
IYR 0.98VNQ 0.97

IYR and VNQ in the news

All news⁠

Popular comparisons

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    iShares U.S. Real Estate ETF · State Street Real Estate Select Sector SPDR ETF

    Expense ratio
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