IYR: iShares U.S. Real Estate ETF returns, drawdowns and risk
Funds on listed real estate companies (REITs), in the US and abroad.
Data updated October 2026
IYR · US exchange · USDCategory: Real estate (REIT) ETFsData from October 2006
From October 2006 to October 2026 IYR returned 4.6% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $24,760.
Its deepest fall was 74.1%, from February 2007 to March 2009, and it took about 74 months to get back to the previous high. Annual volatility was 28.4%; at the last close it was 8.0% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 240 months both have data, the correlation of monthly returns was 0.76: they usually moved together. Beta was 1.05. In months when SPY rose, IYR moved 90% as much on average; in months when SPY fell, 113% as much.
Key figures
- Annual return (CAGR)
- +4.6%
- 1-year return
- +2.5%
- 5 years, a year
- +0.5%
- 10 years, a year
- +5.3%
- Annual volatility
- 28.4%
- Maximum drawdown
- −74.1%
- Sharpe ratio
- 0.25
- Worst year
- 2008: −39.9%
Trailing returns
| Period | IYR | SPY |
|---|---|---|
| 1 year | +2.5% | +16.6% |
| 3 years, a year | +12.1% | +23.1% |
| 5 years, a year | +0.5% | +12.7% |
| 10 years, a year | +5.3% | +15.4% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: IYR vs SPY
Month-end values from November 2006, the first month both funds have data.
IYR drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | IYR | SPY |
|---|---|---|
| 2026(partial) | +6.0% | +13.3% |
| 2025 | +3.4% | +17.7% |
| 2024 | +4.4% | +24.9% |
| 2023 | +11.9% | +26.2% |
| 2022 | −25.5% | −18.2% |
| 2021 | +38.7% | +28.7% |
| 2020 | −5.2% | +18.3% |
| 2019 | +28.2% | +31.2% |
| 2018 | −4.3% | −4.6% |
| 2017 | +9.3% | +21.7% |
| 2016 | +7.0% | +12.0% |
| 2015 | +1.6% | +1.2% |
| 2014 | +26.7% | +13.5% |
| 2013 | +1.2% | +32.3% |
| 2012 | +18.2% | +16.0% |
| 2011 | +5.5% | +1.9% |
| 2010 | +26.5% | +15.1% |
| 2009 | +30.6% | +26.4% |
| 2008 | −39.9% | −36.8% |
| 2007 | −18.1% | +5.1% |
| 2006(partial) | +4.2% | — |
IYR compared
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of IYR?
From October 2006 to October 2026 IYR returned 4.6% a year on average (CAGR) with dividends reinvested, in USD. Over the last 5 years: +0.5% a year. Over the last 12 months: +2.5%.
What was the worst drawdown of IYR?
74.1%, from February 2007 to March 2009; it took about 74 months from the previous high to get back to it.
How volatile is IYR?
Annual volatility was 28.4% over the period. Its worst month was −31.3% and 60% of months were positive. Worst calendar year: 2008 (−39.9%).
How closely does IYR follow SPY?
Over 240 months the correlation of monthly returns was 0.76, so they usually moved together, with a beta of 1.05.
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Other Real estate (REIT) ETFs
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.