Dividend comparison
IYR vs USRT: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares U.S. Real Estate ETF and iShares Core U.S. REIT ETF, side by side. Updated October 21, 2026.
IYR vs USRT: key differences
The short answer, from the latest data on this page.
- Fees. USRT is cheaper at 0.08% a year versus 0.37% for IYR. On $10,000 that is $29 a year less in fees.
- Income. USRT pays more income, yielding 2.80% over the last twelve months versus 2.43% for IYR. That is about $36 more a year on $10,000. Both pay quarterly.
- Performance. Over the last 5 years, USRT returned 12.7% versus 1.6% for IYR, with dividends reinvested. $10,000 would have grown to $11,269 in USRT and $10,162 in IYR.
- Risk. IYR has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -33.8%, against -31.0% for USRT.
- Diversification. USRT holds 123 positions and IYR holds 58. The ten largest positions make up 52.8% of IYR and 51.5% of USRT.
- Overlap. 84% of the two portfolios overlap by weight, across 50 shared holdings. Owning both adds little diversification.
- Dividend growth. USRT grew its yearly payout 3.3% a year over the last 4 years, versus -0.7% for IYR.
Bottom line: USRT has the edge on these figures, with lower fees, more income today, stronger 5-year returns, faster dividend growth and broader diversification. IYR does not lead on any of the measures compared here. With 84% overlap, most investors would hold one or the other rather than both.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | IYR iShares U.S. Real Estate ETF | USRT iShares Core U.S. REIT ETF |
|---|---|---|
| Dividend yield (TTM) | 2.43% | 2.80% |
| Dividend / share (TTM) | $2.39 | $1.75 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.7382 on Sep 18, 2026 | $0.4731 on Sep 18, 2026 |
| Ex-dividend date | Sep 15, 2026 | Sep 15, 2026 |
| Dividend growth (CAGR) | -0.7% over 4 yrs | 3.3% over 4 yrs |
| Price | $98.00 | $62.71 |
| Dividend growth streak | — | 1 year |
| Beta | 0.98 | 0.96 |
| Max drawdown (5Y) | -33.8% | -31.0% |
| Market cap | $4.09B | $4.20B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.37% | 0.08% |
| Assets under management | $3.95B | $4.14B |
| Number of holdings | 58 | 123 |
| Top 10 concentration | 52.8% | 51.5% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
IYR
$20.29/mo
$243 /yr at 2.43% yield
USRT
$23.31/mo
$280 /yr at 2.80% yield
Dividend history
Total dividends paid per share in each calendar year. IYR pays quarterly; USRT pays quarterly.
| Year | IYR | USRT |
|---|---|---|
| 2025 | $2.3302 | $1.7465 |
| 2024 | $2.3934 | $1.6318 |
| 2023 | $2.5136 | $1.7268 |
| 2022 | $2.4550 | $1.7131 |
| 2021 | $2.3950 | $1.5365 |
Strategy: Alternative income
Income vehicles outside ordinary stocks and bonds: real estate investment trusts, preferred shares, business development companies that lend to private firms, and energy pipeline partnerships. Each is structured to pass most of its earnings through to shareholders, which is why yields are high. Their payouts depend on rents, loan books or pipeline volumes rather than on corporate dividend policy.
These income streams are sensitive to interest rates and credit conditions, and much of the income is taxed as ordinary income rather than qualified dividends.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $10,162 in IYR and $11,269 in USRT.
| Period | IYR | USRT |
|---|---|---|
| 1 month | 0.00% | -0.14% |
| 3 months | -6.46% | -8.89% |
| Year to date | 5.97% | 10.09% |
| 1 year | 2.49% | 5.80% |
| 3 years | 40.02% | 46.45% |
| 5 years | 1.62% | 12.69% |
- IYR
- USRT
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- IYR
- USRT
IYR vs USRT holdings overlap
84% overlap by weight, with 50 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
| Largest shared holdings | IYR weight | USRT weight |
|---|---|---|
| WELLWELLTOWER | 10.33% | 9.26% |
| PLDPROLOGIS REIT | 8.76% | 6.98% |
| SPGSIMON PROPERTY GROUP REIT INC | 4.57% | 4.56% |
| EQIXEQUINIX REIT | 4.55% | 6.10% |
| DLRDIGITAL REALTY TRUST REIT | 4.47% | 4.34% |
| OREALTY INCOME REIT | 4.17% | 4.07% |
| PSAPUBLIC STORAGE REIT | 3.95% | 4.21% |
| EQRVIVMARK RESIDENTIAL | 3.52% | 4.21% |
| VMRKVIVMARK RESIDENTIAL | 3.48% | 3.91% |
| VTRVENTAS REIT | 3.44% | 3.91% |
Top 10 holdings
Largest positions by portfolio weight.
IYR58 holdings total
Quick verdict
USRT has the edge on these figures, with lower fees, more income today, stronger 5-year returns, faster dividend growth and broader diversification. IYR does not lead on any of the measures compared here. With 84% overlap, most investors would hold one or the other rather than both. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how IYR vs USRT fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is IYR or USRT better for dividend income?
It depends on your goals. IYR currently yields 2.43% Trailing Twelve Months (TTM) while USRT yields 2.80%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between IYR and USRT?
iShares U.S. Real Estate ETF (IYR) is an ETF listed on AMEX. iShares Core U.S. REIT ETF (USRT) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, IYR or USRT?
USRT has the lower expense ratio. IYR charges 0.37% a year and USRT charges 0.08%, a difference of $29 a year on a $10,000 investment.
Which has performed better, IYR or USRT?
Over the last 5 years, USRT has the higher total return with dividends reinvested: IYR returned 1.6% and USRT returned 12.7%. Past performance does not predict future returns.
Which is riskier, IYR or USRT?
Measured by the worst peak-to-trough decline over the last five years, IYR has been riskier: IYR fell as much as 33.8% and USRT as much as 31.0%. Their betas are 0.98 and 0.96.
How much do IYR and USRT overlap?
About 84% of the two portfolios overlap by weight, across 50 shared holdings. The largest shared positions are WELL, PLD, SPG. Holding both adds little diversification.
How often do IYR and USRT pay dividends?
Both pay quarterly. The most recent payments were $0.7382 for IYR and $0.4731 for USRT.
How much income does $10,000 in IYR vs USRT generate?
At current TTM yields, $10,000 in IYR would generate roughly $20.29 per month ($243 annually). The same amount in USRT would produce about $23.31 per month ($280 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both IYR and USRT?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare IYR vs USRT with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how IYR and USRT fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.