Data as of Oct 28, 2026.

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GARP vs IYR: Differences, Returns & Fees

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Over the year to Oct 28, 2026, GARP returned +18.0% to IYR's +3.4%; 0% of their weight is in the same names.

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Net assets: $3.6bn on Oct 27, 2026 for iShares MSCI USA Quality GARP ETF, and $3.9bn on Oct 28, 2026 for iShares U.S. Real Estate ETF.

At a glance
+18.0%
GARP total return, 1 year
+3.4%
IYR total return, 1 year
0.15%
GARP expense ratio
0.37%
IYR expense ratio

Pair scorecard

GARP costs 0.22 points a year less; their one-year returns differ by 14.6 points; IYR is 1.1 times larger.

GARP vs IYR: Differences, Returns & Fees
MeasureGARPIYR
Return
Total return, 1 year+18.0%+3.4%
Drawdown
Below its high7.0%, high on Oct 6, 20268.6%, high on Jul 28, 2026
Benchmark
What it tracksMSCI USA Quality GARP Select IndexDow Jones U.S. Real Estate Capped Index
Cost and size
Expense ratio0.15%0.37%
Net assets, as of Oct 26, 2026$3.5bn$4.0bn
Holdings
Holdings in common0%
Top ten holdings, share of the fund43.5%52.5%

Holdings in common uses holdings dated Oct 27, 2026. Method

Risk and return

Jan 24, 2020 to Oct 23, 2026 · 352 weekly returns
GARP IYR
Return
Total return edge GARP +232.4% +22.1%
Annualized edge GARP +19.4% +3.0%
Price return edge GARP +215.4% +2.5%
Risk
Volatility edge GARP 22.3% 24.9%
Max drawdown edge GARP −30.1% −39.3%
Risk-adjusted
Sharpe edge GARP 0.78 0.13
Sortino edge GARP 1.16 0.18
Calmar edge GARP 0.65 0.08
Reading

GARP returned more: +232.4% to +22.1%. GARP swung less: 22.3% to 24.9%. GARP fell less at its worst: −30.1% to −39.3%.

Full scorecard

9 measures, with how each is measured
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Risk and return: GARP vs IYR: Differences, Returns & Fees
MeasureGARPIYREdgeHow it is measured
Return
Total return+232.4%+22.1%GARPPrice change plus distributions, reinvested.
Annualized+19.4%+3.0%GARPTotal return as a yearly rate.
Price return+215.4%+2.5%GARPPrice change alone, distributions left out.
Risk
Volatility22.3%24.9%GARPSpread of weekly returns, annualized. Lower is steadier.
Downside deviation14.9%17.4%GARPLike volatility, counting only weeks below the Treasury bill rate.
Max drawdown−30.1%−39.3%GARPDeepest fall from a high to the low after it.
Risk-adjusted
Sharpe0.780.13GARPReturn above Treasury bills per unit of volatility.
Sortino1.160.18GARPReturn above Treasury bills per unit of downside deviation.
Calmar0.650.08GARPAnnualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 352 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

0%

By the books each fund has filed, GARP and IYR hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

0 half 100%

half

0% in common

Positions both hold · largest shared weight first GARP IYR
WELLTOWER 0.28% 9.85%
Only in one fund ↓
Only in GARP
MICROSOFT 5.67%
APPLE 5.66%
NVIDIA 5.18%
VISA CLASS A 5.13%
META PLATFORMS CLASS A 4.72%
MICRON TECHNOLOGY 4.61%
LAM RESEARCH 3.31%
CATERPILLAR INC 3.29%
Only in IYR
PROLOGIS REIT 8.77%
AMERICAN TOWER REIT 4.96%
SIMON PROPERTY GROUP REIT INC 4.71%
EQUINIX REIT 4.57%
DIGITAL REALTY TRUST REIT 4.54%
REALTY INCOME REIT 4.19%
PUBLIC STORAGE REIT 4.10%
VIVMARK RESIDENTIAL 3.51%
Check overlap with more funds →

Side by side

GARP iShares MSCI USA Quality GARP ETF IYR iShares U.S. Real Estate ETF
Where it sits Stock ETF Stock ETF
What it is Tracks the MSCI USA Quality GARP Tracks an index of U.S. Real Estate
Total return, 1 year +18.0% +3.4%
Its benchmark over the same days +13.3% (PBUS) not measured
Gap to its benchmark +4.7 pts vs PBUS not measured
Expense ratio 0.15% 0.37%
Already in the S&P 500 94.4% 80.0%
Holdings 131 59
Net assets, GARP as of Oct 27, 2026 and IYR as of Oct 28, 2026 $3.6bn $3.9bn

GARP and IYR on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-F020D6A6F9

GARP and IYR do different jobs. What does each one do in a portfolio?

  1. What each follows. GARP follows MSCI USA Quality GARP Select Index and IYR follows Dow Jones U.S. Real Estate Capped Index.
  2. Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026).
  3. One-year total return. Over 1 year to Oct 28, 2026 GARP returned +18.0% and IYR +3.4% with distributions reinvested, a gap of 14.6 points.

Data as of Oct 28, 2026.

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About each fund
GARP

GARP tracks the MSCI USA Quality GARP. Over the year to Oct 28, 2026 it returned +18.0% with distributions reinvested, against +13.3% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 131 positions, with the top ten at 43.5%. It sat 7.0% below its high of Oct 6, 2026 on Oct 28, 2026.

IYR

IYR tracks an index of U.S. Real Estate. Over the year to Oct 28, 2026 it returned +3.4% with distributions reinvested. The prospectus expense ratio is 0.37% a year. By its holdings published by its issuer for Oct 27, 2026, 80% of the fund by weight is stocks the S&P 500 also holds, across 59 positions, with the top ten at 52.5%. It sat 8.6% below its high of Jul 28, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, GARP or IYR?
In the year to Oct 28, 2026, with distributions reinvested, GARP returned +18.0% and IYR +3.4%.
Which is cheaper, GARP or IYR?
GARP is cheaper, by 0.22 percentage points a year. That is about $22 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do GARP and IYR overlap with the S&P 500?
By their latest filed holdings, 94% of GARP and 80% of IYR by weight is stocks the S&P 500 already holds.
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ETFIQ, GARP against IYR, data as of Oct 28, 2026. https://etfiq.com/compare/any/garp-vs-iyr

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