RIET vs USRT: Grades, Fees and Holdings Compared

Hoya Capital High Dividend Yield ETF

RIETCNYSE Arca

iShares Core U.S. REIT ETF

USRTANYSE Arca

Overlap

11.9%by weight

Expense ratio

USRT −0.42pt a year

RIET0.50%USRT0.08%

Avg volume · 30D

USRT 8.9×the volume

RIET89.1KUSRT789K

5Y return · a year

USRT +6.6pt

RIET−2.9%USRT+3.7%

RIET vs USRT Performance

Nov 9, 2021 – Nov 9, 2026

−13.8%RIET+20.0%USRT

Expense ratio: RIET 0.50%; USRT 0.08%, better
Fund size: RIET $97M; USRT $4.24B
1Y total return: RIET −0.6%; USRT +16.3%, better
Yield (12M): RIET 12.33%, better; USRT 2.65%
Holdings: RIET 96; USRT 125
Avg volume (30D): RIET 89.1K sh; USRT 789K sh, better
NAV per share: RIET $8.21; USRT $65.09
52W range

ETF.net Grade

Pillar letters and Scores for RIET, USRT, with each pillar’s weight
Pillar	RIET	USRT
Cost30% weight	F21	A93Higher
Mission25% weight	A81	A100Higher
Risk15% weight	D28	B59Higher
Tradability15% weight	F22	A82Higher
Holdings10% weight	A93Higher	C53
Durability5% weight	F22	A78Higher

Rank among US Real Estate funds

How we build Categories ›

Same Category. RIET and USRT 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 ›

USRT ranks 1st and RIET 16th 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 3AFRELFidelity MSCI Real Estate Index ETFScore 81
Rank 15CPPTYUS Diversified Real Estate ETFScore 48
Rank 16CRIETHoya Capital High Dividend Yield ETFScore 44
Rank 17CTRURVanEck Real Estate TruSector ETFScore 40

Our read on each fund

ETF.net Research

RIETCHoya Capital High Dividend Yield ETF

USRTAiShares Core U.S. REIT ETF

In short

RIET Real estate, sorted by the paycheck. RIET tracks Hoya Capital's own high dividend yield index, roughly 100 US real estate names, and distributes monthly. Trading since 2021.

USRT Cheap, plain-vanilla ownership of U.S. landlords: roughly 130 equity REITs for eight basis points, running since 2007. One of the least expensive doors into the real estate aisle.

Stated mandate

RIET The Fund seeks to track, before fees and expenses, the performance of the Hoya Capital High Dividend Yield Index.

USRT The fund seeks to track an index composed of U.S. real estate equities.

Why people hold it

RIET The index screens on dividend yield rather than company size, so the basket is built around payout first. A genuinely different starting point in a corner full of cap-weighted trackers.
Distributions arrive monthly, so income shows up on a bill-paying rhythm instead of in quarterly lumps.
Roughly 100 holdings spread the risk, so one landlord's bad quarter does not steer the whole fund. The portfolio also stays tightly aligned with the index it promises to follow.

USRT 0.08% a year against a 0.37% median for U.S. real estate funds. Among the category's heavyweights, only SCHH (0.07%) is cheaper.
Tracks the FTSE Nareit Equity REITs 40 Act Capped Index with very little drift, one of the tightest index jobs in its peer group.ishares.com
Live since 2007, a multi-billion-dollar fund from iShares, holding about 130 REITs across the U.S. property market.ishares.com

Worth knowing

RIET At 0.50% a year, it costs more than the typical US real estate ETF and several times what cap-weighted staples charge: SCHH at 0.07%, VNQ at 0.13%.
Assets and trading volume are modest next to the category's giants, which tends to mean wider bid-ask spreads on the way in and out.
Launched in 2021, so the track record does not yet cover a full rate-and-property cycle. Among the two dozen broad US real estate funds we track, it sits in the lower half overall.

USRT One sector, one country. Real estate swings with rates and property cycles, so expect a bumpier ride than a broad U.S. stock fund.
Actively traded, but the aisle's largest funds (VNQ, SCHH) turn over more shares. Worth watching the spread on chunky orders.
Income arrives quarterly, not monthly.ishares.com

Full RIET profile⁠

Full USRT profile⁠

RIET vs USRT Holdings

How RIET and USRT differ

Overlap by weight

11.9%

Shared holdings make up 58.7% of RIET and 12.6% of USRT.

Level by level

Asset classStocks, Real Estate0.0%
Sector11 Sectors0.0%
Holdings39 in both11.9%
Countryby domicile100%

Sector

Sector weights in RIET and USRT, widest gap first
Sector	Gap	RIET	USRT
Real Estate	RIET +100.0 points	100.0%	0.0%
Health Care REITs	USRT +21.8 points	0.0%	21.8%
Retail Reits	USRT +19.6 points	0.0%	19.6%
Industrial REITs	USRT +12.1 points	0.0%	12.1%
Data Center REITs	USRT +11.0 points	0.0%	11.0%
Multi-Family Residential REITs	USRT +9.9 points	0.0%	9.9%
Self Storage REITs	USRT +9.3 points	0.0%	9.3%
Single-Family Residential REITs	USRT +5.2 points	0.0%	5.2%
Hotel & Resort REITs	USRT +4.2 points	0.0%	4.2%
Office REITs	USRT +4.1 points	0.0%	4.1%
Diversified REIT's	USRT +2.7 points	0.0%	2.7%

Country, concentration and asset class

Country by domicile

Country weights in RIET and USRT, widest gap first
Country	More in RIETMore in USRT	Gap	RIET	USRT
United States		Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

RIET19.7%
USRT50.5%

Securities held

RIET95
USRT122

Asset class

RIET: Stocks
USRT: Real Estate

Holdings

Only in RIET56
In both39
Only in USRT83

Only in RIET

56 securities, 41.0% of RIET by weight

Rithm Capital Corp1.78%
Clipper Realty Inc1.59%
Annaly Capital Management Inc1.56%
AGNC Investment Corp1.53%
Ladder Capital Corp1.26%
Nexpoint Real Estate Finance Inc1.26%
Starwood Property Trust Inc1.24%
Dynex Capital Inc1.20%
Ellington Financial Inc1.19%
Sunrise Realty Trust Inc1.16%
TPG RE Finance Trust Inc1.16%
Seven Hills Realty Trust1.13%
Chicago Atlantic Real Estate Finance Inc1.11%
Blackstone Mortgage Trust Inc1.11%
Ares Commercial Real Estate Corp1.09%
ARMOUR Residential REIT Inc1.09%
PennyMac Mortgage Investment Trust1.07%
Franklin BSP Realty Trust Inc1.05%
Angel Oak Mortgage REIT Inc1.04%
Orchid Island Capital Inc1.04%
Invesco Mortgage Capital Inc0.98%
MFA Financial Inc0.94%
Adamas Trust Inc0.91%
Redwood Trust Inc0.84%
BrightSpire Capital Inc0.84%
TPG Mortgage Investment Trust Inc0.83%
Chimera Investment Corp0.79%
Arbor Realty Trust Inc0.41%
KKR Real Estate Finance Trust Inc 6.5% 12/15/21740.41%
Innovative Industrial Properties Inc 9% 10/15/21750.40%
Dynex Capital Inc 6.9% 10/15/21750.39%
Pebblebrook Hotel Trust 6.375% 10/15/21750.39%
Rithm Capital Corp 7.5% 11/16/21740.39%
Annaly Capital Management Inc 6.5% 09/30/21750.39%
AGNC Investment Corp 7% 10/15/21750.39%
Rithm Capital Corp 7.125% 11/16/21740.39%
AGNC Investment Corp 6.5% 10/15/21750.39%
Annaly Capital Management Inc 6.95% 09/30/21750.39%
AGNC Investment Corp 6.875% 10/15/21750.38%
Adamas Trust Inc 7.875% 10/15/21750.38%
Rithm Capital Corp 6.375% 11/16/21740.37%
Global Net Lease Inc 7.5% 10/15/21750.37%
TPG Mortgage Investment Trust Inc 8% 12/17/21740.37%
Rithm Capital Corp 8.75% 11/16/21740.37%
Hudson Pacific Properties Inc 4.75% 09/30/21750.37%
Adamas Trust Inc 8% 10/15/21750.36%
MFA Financial Inc 6.5% 09/30/21750.35%
Franklin BSP Realty Trust Inc 7.5% 10/15/21750.34%
Chimera Investment Corp 8% 12/30/21740.33%
Chimera Investment Corp 8% 12/30/21740.33%

Only in USRT

83 securities, 87.2% of USRT by weight

Welltower9.28%
Prologis Reit6.77%
Equinix Reit6.02%
Simon Property Group Reit Inc4.87%
Public Storage Reit4.57%
Digital Realty Trust Reit4.13%
Realty Income Reit4.11%
Vivmark Residential4.02%
Ventas Reit3.88%
Extra Space Storage Reit2.86%
Iron Mountain Inc2.70%
Essex Property Trust Reit1.49%
Kimco Realty Reit Corp1.45%
Host Hotels & Resorts Reit1.43%
Invitation Homes1.38%
Sun Communities Reit Inc1.24%
Mid America Apartment Communities1.18%
Regency Centers Reit Corp1.17%
Lamar Advertising Company Clas1.14%
Equity Lifestyle Properties Reit I1.04%
Udr Reit1.01%
American Healthcare Reit0.95%
American Homes Rent Reit Class A0.93%
Eastgroup Properties Reit0.89%
Bxp0.88%
Cubesmart Reit0.87%
Camden Property Trust Reit0.84%
Federal Realty Investment Trust Re0.83%
Brixmor Property Group Reit Inc0.78%
Caretrust Reit0.77%
Ryman Hospitality Properties Reit0.75%
Agree Realty Reit0.73%
Rexford Industrial Realty Reit0.72%
Alexandria Real Estate Equities Re0.66%
Macerich Reit0.61%
First Industrial Realty Trust0.61%
Stag Industrial Reit0.60%
Terreno Realty Reit0.59%
Healthcare Realty Trust Inc Class0.54%
Vornado Realty Trust Reit0.54%
Essential Properties Realty Trust0.52%
Phillips Edison and Company0.45%
Kite Realty Group Trust Reit0.43%
Outfront Media0.42%
Cousins Properties Reit Inc0.41%
Tanger0.37%
Copt Defense Properties0.32%
Sl Green Realty Reit Corp0.31%
Independence Realty0.30%
National Health Investors Reit0.29%

Weight gaps

All 39 Holdings in both funds, largest gap first.

Holding weights in RIET and USRT, widest gap first
Holding	Gap	RIET	USRT
Global Net Lease IncGNL	RIET +1.99 points	2.11%	0.12%
Apple Hospitality REIT IncAPLE	RIET +1.98 points	2.33%	0.35%
Highwoods Properties IncHIW	RIET +1.90 points	2.19%	0.29%
RLJ Lodging TrustRLJ	RIET +1.73 points	1.87%	0.14%
Park Hotels & Resorts IncPK	RIET +1.70 points	1.95%	0.25%
Americold Realty Trust IncCOLD	RIET +1.54 points	1.93%	0.39%
Kilroy Realty CorpKRC	RIET +1.53 points	1.88%	0.35%
Brandywine Realty TrustBDN	RIET +1.49 points	1.54%	0.05%
Lineage IncLINE	RIET +1.48 points	1.71%	0.23%
LTC Properties IncLTC	RIET +1.47 points	1.66%	0.19%
EPR PropertiesEPR	RIET +1.43 points	1.81%	0.38%
Alexanders IncALX	RIET +1.39 points	1.44%	0.05%
Sabra Health Care REIT IncSBRA	RIET +1.36 points	1.81%	0.45%
CTO Realty Growth IncCTO	RIET +1.36 points	1.42%	0.06%
Millrose Properties IncMRP	RIET +1.33 points	1.67%	0.34%
UMH Properties IncUMH	RIET +1.29 points	1.39%	0.10%
Universal Health Realty Income TrustUHT	RIET +1.28 points	1.32%	0.04%
AH Realty Trust IncAHRT	RIET +1.28 points	1.32%	0.04%
Easterly Government Properties IncDEA	RIET +1.27 points	1.35%	0.08%
American Assets Trust IncAAT	RIET +1.26 points	1.35%	0.09%
One Liberty Properties IncOLP	RIET +1.26 points	1.29%	0.03%
Broadstone Net Lease IncBNL	RIET +1.24 points	1.53%	0.29%
Innovative Industrial Properties IncIIPR	RIET +1.24 points	1.37%	0.13%
BRT Apartments CorpBRT	RIET +1.22 points	1.23%	0.01%
Alpine Income Property Trust IncPINE	RIET +1.21 points	1.23%	0.02%
Community Healthcare Trust IncCHCT	RIET +1.18 points	1.21%	0.03%
Saul Centers IncBFS	RIET +1.15 points	1.18%	0.03%
Douglas Emmett IncDEI	RIET +1.14 points	1.27%	0.13%
Gladstone Commercial CorpGOOD	RIET +1.10 points	1.14%	0.04%
Getty Realty CorpGTY	RIET +1.09 points	1.23%	0.14%
NNN REIT IncNNN	RIET +0.96 points	1.63%	0.67%
Braemar Hotels & Resorts IncBHR	RIET +0.88 points	0.89%	<0.01%
VICI Properties IncVICI	USRT +0.76 points	1.55%	2.31%
NexPoint Residential Trust IncNXRT	RIET +0.75 points	0.78%	0.03%
Healthpeak Properties Inc.DOC	RIET +0.62 points	1.83%	1.21%
Omega Healthcare Investors IncOHI	RIET +0.55 points	1.80%	1.25%
Gaming and Leisure Properties IncGLPI	RIET +0.52 points	1.45%	0.93%
Medical Properties Trust IncMPT	RIET +0.43 points	0.51%	0.08%
WP Carey IncWPC	RIET +0.30 points	1.56%	1.26%

All 100 RIET holdings⁠All 122 USRT 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.

RIET vs USRT Cost

Overpaying RIET vs USRT

$8,290

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

RIET 0.50%
$9,979
USRT 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

RIET 0.50%
USRT 0.08%
Overpaying

Year by year

Year	RIET	USRT	Overpaying
10	$900	$147	$753
20	$3,460	$575	$2,885
30	$9,979	$1,689	$8,290

Expense ratio

0.50%RIET
0.08%USRT, cheaper

USRT0.08%RIET0.50%

0.07%0.65%

Middle half of US Real Estate funds
Median 0.35%

USRT 2nd cheapest of 21 funds

RIET 17th cheapest of 21 funds

RIET vs USRT Dividends

Last 12 months to Nov 9, 2026

Yield (12M): RIET 12.33%, better; USRT 2.65%
Payout (12M): RIET $1.03; USRT $1.75
Last payment: RIET $0.09; USRT $0.47
Ex-dividend: RIET Oct 20, 2026; USRT Sep 15, 2026
Paid on: RIET Oct 21, 2026; USRT Sep 18, 2026
Frequency: RIET Monthly; USRT Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

RIETMonthly · 46 paymentsAll RIET payments⁠

USRTQuarterly · 15 paymentsAll USRT payments⁠

RIET vs USRT Risk

Fall from peak · 5 years

RIET
USRT

Risk facts

VolatilityStd dev, 3 years: RIET 16.4%USRT 16.1%, better
Return per unit of riskSharpe ratio, 3 years: RIET 0.26USRT 0.70, better
Worst fallMax drawdown, 5 years: RIET −34.6%USRT −31.0%, better
Market sensitivityBeta, 5 years: RIET 0.94USRT 0.96; Market = 1

RIET and USRT in the news

All news⁠

Category Review
Vanguard's property fund lost a first-half lead over stocks
Updated Oct 8, 2026USRT
Deep Dive
Vanguard's property fund is up 4% this year. Mortgage funds are down 15%
Oct 5, 2026USRT
ETF Filings
PGIM files for a CLO fund at 0.28% and a real estate fund at 0.49%
Sep 28, 2026USRT
Deep Dive
Equity REIT funds fell 1.3%. VanEck's mortgage REIT fund hit a 52-week low
Sep 12, 2026USRT
Deep Dive
September's $2.74 billion CMBS wall is half of August's, with more already in special servicing
Sep 5, 2026USRT

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