Dividend comparison
XLRE vs IYR: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for State Street Real Estate Select Sector SPDR ETF and iShares U.S. Real Estate ETF, side by side. Updated October 21, 2026.
XLRE vs IYR: key differences
The short answer, from the latest data on this page.
- Fees. XLRE is cheaper at 0.08% a year versus 0.37% for IYR. On $10,000 that is $29 a year less in fees.
- Income. XLRE pays more income, yielding 3.40% over the last twelve months versus 2.43% for IYR. That is about $97 more a year on $10,000. Both pay quarterly.
- Performance. Over the last 5 years, XLRE returned 2.8% versus 1.6% for IYR, with dividends reinvested. $10,000 would have grown to $10,281 in XLRE and $10,162 in IYR.
- Risk. Their worst declines over the last 5 years were similar: -34.1% for XLRE and -33.8% for IYR from peak to trough.
- Diversification. IYR holds 58 positions and XLRE holds 30. The ten largest positions make up 59.5% of XLRE and 52.8% of IYR.
- Overlap. 85% of the two portfolios overlap by weight, across 32 shared holdings. Owning both adds little diversification.
- Dividend growth. XLRE grew its yearly payout 0.7% a year over the last 4 years, versus -0.7% for IYR.
Bottom line: XLRE fits better if you care most about lower fees, more income today and faster dividend growth. IYR fits better if you care most about broader diversification. With 85% 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 | XLRE State Street Real Estate Select Sector SPDR ETF | IYR iShares U.S. Real Estate ETF |
|---|---|---|
| Dividend yield (TTM) | 3.40% | 2.43% |
| Dividend / share (TTM) | $1.44 | $2.39 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.3547 on Sep 23, 2026 | $0.7382 on Sep 18, 2026 |
| Ex-dividend date | Sep 21, 2026 | Sep 15, 2026 |
| Dividend growth (CAGR) | 0.7% over 4 yrs | -0.7% over 4 yrs |
| Price | $42.38 | $98.00 |
| Beta | 0.98 | 0.98 |
| Max drawdown (5Y) | -34.1% | -33.8% |
| Market cap | $7.83B | $4.09B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.08% | 0.37% |
| Assets under management | $7.79B | $3.95B |
| Number of holdings | 30 | 58 |
| Top 10 concentration | 59.5% | 52.8% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
XLRE
$28.38/mo
$341 /yr at 3.40% yield
IYR
$20.29/mo
$243 /yr at 2.43% yield
Dividend history
Total dividends paid per share in each calendar year. XLRE pays quarterly; IYR pays quarterly.
| Year | XLRE | IYR |
|---|---|---|
| 2025 | $1.3918 | $2.3302 |
| 2024 | $1.3958 | $2.3934 |
| 2023 | $1.3265 | $2.5136 |
| 2022 | $1.3654 | $2.4550 |
| 2021 | $1.3540 | $2.3950 |
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 $10,281 in XLRE and $10,162 in IYR.
| Period | XLRE | IYR |
|---|---|---|
| 1 month | 0.47% | 0.00% |
| 3 months | -6.69% | -6.46% |
| Year to date | 5.03% | 5.97% |
| 1 year | -0.24% | 2.49% |
| 3 years | 38.54% | 40.02% |
| 5 years | 2.81% | 1.62% |
- XLRE
- IYR
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.
- XLRE
- IYR
XLRE vs IYR holdings overlap
85% overlap by weight, with 32 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 | XLRE weight | IYR weight |
|---|---|---|
| WELLWELLTOWER INC | 11.64% | 10.33% |
| PLDPROLOGIS INC | 8.16% | 8.76% |
| AMTAMERICAN TOWER CORP | 5.90% | 5.03% |
| SPGSIMON PROPERTY GROUP INC | 4.61% | 4.57% |
| EQIXEQUINIX INC | 6.66% | 4.55% |
| DLRDIGITAL REALTY TRUST INC | 4.26% | 4.47% |
| OREALTY INCOME CORP | 4.30% | 4.17% |
| PSAPUBLIC STORAGE | 4.67% | 3.95% |
| EQREQUITY RESIDENTIAL | 4.75% | 3.52% |
| VMRKVIVMARK RESIDENTIAL | 4.36% | 3.48% |
Top 10 holdings
Largest positions by portfolio weight.
XLRE30 holdings total
Quick verdict
XLRE fits better if you care most about lower fees, more income today and faster dividend growth. IYR fits better if you care most about broader diversification. With 85% 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
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Frequently asked questions
Is XLRE or IYR better for dividend income?
It depends on your goals. XLRE currently yields 3.40% Trailing Twelve Months (TTM) while IYR yields 2.43%. 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 XLRE and IYR?
State Street Real Estate Select Sector SPDR ETF (XLRE) is an ETF listed on AMEX. iShares U.S. Real Estate ETF (IYR) 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, XLRE or IYR?
XLRE has the lower expense ratio. XLRE charges 0.08% a year and IYR charges 0.37%, a difference of $29 a year on a $10,000 investment.
Which has performed better, XLRE or IYR?
Over the last 5 years, XLRE has the higher total return with dividends reinvested: XLRE returned 2.8% and IYR returned 1.6%. Past performance does not predict future returns.
Which is riskier, XLRE or IYR?
Measured by the worst peak-to-trough decline over the last five years, XLRE has been riskier: XLRE fell as much as 34.1% and IYR as much as 33.8%. Their betas are 0.98 and 0.98.
How much do XLRE and IYR overlap?
About 85% of the two portfolios overlap by weight, across 32 shared holdings. The largest shared positions are WELL, PLD, AMT. Holding both adds little diversification.
How often do XLRE and IYR pay dividends?
Both pay quarterly. The most recent payments were $0.3547 for XLRE and $0.7382 for IYR.
How much income does $10,000 in XLRE vs IYR generate?
At current TTM yields, $10,000 in XLRE would generate roughly $28.38 per month ($341 annually). The same amount in IYR would produce about $20.29 per month ($243 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both XLRE and IYR?
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 XLRE vs IYR with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how XLRE and IYR 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.