iShares U.S. Real Estate ETF(IYR)
AI Look-Through Summary
AI GeneratedThe iShares U.S. Real Estate ETF maintains a highly concentrated exposure within the real estate sector, with holdings accounting for approximately 79.4% of its total assets under management. This structural focus is reinforced by a top-heavy concentration in individual equities, where the five largest positions collectively represent nearly one-third of the fund's portfolio value. Wells Fargo Residential and Prologis dominate this tier individually at roughly 10% and almost 9%, respectively, creating significant single-stock risk alongside strong alignment with specific subsectors such as industrial logistics and residential services. The remaining top ten holdings further deepen ties to specialized real estate niches, including data centers, retail properties, healthcare facilities, and office spaces, while also incorporating REIT-focused service providers like CBRE.
Geographically, the fund's composition is implicitly anchored in the United States market, reflecting its mandate for U.S.-based property owners and operators rather than offering global diversification. This domestic tilt means performance will be heavily correlated with local economic cycles, interest rate environments specific to American commercial real estate, and regulatory shifts within the U.S. jurisdiction. Quantitatively, the fund's profile suggests a strategy that prioritizes deep immersion in the sector over broad market dispersion or geographic hedging. The substantial weighting toward large-cap entities like Equinix and Public Storage indicates an investment approach favoring established players with significant scale, while the lack of diversification outside real estate amplifies volatility associated with this specific industry vertical. Investors analyzing this vehicle should weigh these concentration risks against the potential for sector-specific upside derived from its pure-play status.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-22 23:15:50.247583+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 98/100The investment theme implied by the iShares U.S. Real Estate ETF is strictly focused on the real estate sector, and this alignment appears nearly flawless given that every single top holding listed falls squarely within the Real Estate industry classification. The portfolio demonstrates a cohesive concentration across various sub-sectors including REITs involved in office spaces, data centers, hospitality, retail, and residential properties, ensuring no thematic drift toward unrelated industries like technology or healthcare services. There is no evidence of broad-market stabilization strategies; instead, the fund maintains an exclusive focus on property-related assets, reinforcing its identity as a pure-play vehicle for investors seeking exposure to the U.S. real estate market without dilution from non-sector peers.
Sector coherence is exceptionally high with Real Estate comprising nearly 80% of the total portfolio, which strongly supports the stated investment objective while leaving minimal room for unintended sector overlap. The significant weight assigned to the top ten holdings, totaling over half the fund's assets, indicates a strategy that balances deep specialization in large-cap real estate companies with exposure to smaller mid-tier players through the remaining thirty-one positions. This structure differentiates the fund from broad market indices by isolating performance drivers specific to property valuation and rental yields rather than general economic trends affecting all sectors equally. The consistency between the sector breakdown and the individual stock classifications confirms that the fund operates as a tightly defined thematic instrument rather than a diversified basket of unrelated assets, allowing it to function effectively as a dedicated proxy for the real estate economy.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-23 10:15:44.064008+00
🏢 Sector Analysis
AI GeneratedThe iShares U.S. Real Estate ETF presents an investment vehicle characterized by a highly concentrated exposure to the real estate sector, with nearly eighty percent of its assets allocated directly within this industry. This singular focus underscores a thesis that prioritizes deep specialization over diversification across other economic sectors such as technology or healthcare. The fund's structure suggests it is designed for investors seeking targeted participation in property-related markets rather than broad-based equity exposure, effectively functioning as a leveraged bet on the performance of specific real estate sub-segments including residential lodging, data centers, and retail spaces through its top holdings like Welltower and Prologis.
Significant concentration risk emerges from the fund's composition, evidenced by nearly fifty percent of total assets being held within just ten positions. This heavy weighting implies that the portfolio's volatility will be disproportionately influenced by macroeconomic factors affecting real estate specifically, such as interest rate fluctuations or changes in occupancy rates for commercial properties. The dominance of individual stocks like Equinix and Simon Property Group further indicates a tilt toward large-cap, established entities rather than small-cap growth opportunities within the sector. Consequently, while this allocation offers precise access to real estate dynamics, it inherently limits the fund's ability to hedge against downturns in other industries or mitigate idiosyncratic risks associated with any single major holding through natural diversification effects found in broader market indices.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-21 00:54:38.905668+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share IYR's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of IYR's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| ITOTiShares Core S&P Total U.S. Stock Market ETF | $80B | — | 63 | 99.7% |
| SCHBSchwab U.S. Broad Market ETF | $37B | — | 60 | 99.4% |
| IWDiShares Russell 1000 Value ETF | $70B | — | 60 | 94.0% |
| SCHXSCHX | $61B | — | 48 | 94.0% |
| SCHHSchwab U.S. REIT ETF | $9B | — | 52 | 90.1% |
100% of IYR's portfolio by weight is also held by ITOT, which commands 20× more assets under management. When ITOT receives inflows, it mechanically buys these shared stocks — dragging IYR's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofIYR's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Replaces $249/yr MorningstarPeer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 80% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Based on 80% of fund weight with Piotroski data.
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation. Data that Vanguard and BlackRock don't surface.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside IYR collectively pay out 79% of their Free Cash Flow to maintain the current yield. This is stretched — a prolonged earnings slump could force constituent companies to cut dividends. Based on 44% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietaryIYR is up 8.1% over the last 12 months. The underlying weighted earnings growth of its constituents is +33.4%. Despite earnings growth, valuations have contracted by 25.3% — the market is paying less per dollar of earnings than a year ago.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 79% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of IYR's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of IYR's analyzed weight, 8% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 92% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 80% of fund weight with available data. Not investment advice.
Concentration Risk Monitor
ELEVATEDIYR's top holding WELL at 10.0% is above the 8% elevated-concentration threshold. The effective number of stocks is 26 vs. the actual count of 50.
Effective # of Stocks = 1 / HHI (Herfindahl-Hirschman Index). Variance share approximated as w² / Σw². Not investment advice.
Passive Crowding Score
HIGHHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
IYR has a Passive Crowding Score of 55/100. On average, 16.6% of the market capitalization of IYR's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.
Passive $ = Σ(ETF AUM × holding weight) across all 30 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | WELL | WELLTOWER INC. Real Estate | 9.96% | 99.2x | 7/9 |
| 2 | PLD | PROLOGIS, INC. Real Estate | 9.18% | 36.1x | 4/9 |
| 3 | EQIX | EQUINIX, INC. Real Estate | 4.69% | 74.1x | 5/9 |
| 4 | DLR | DIGITAL REALTY TRUST, INC. Real Estate | 4.63% | 50.5x | 6/9 |
| 5 | SPG | SIMON PROPERTY GROUP, INC. Real Estate | 4.58% | 14.2x | 4/9 |
| 6 | O | REALTY INCOME CORPORATION Real Estate | 4.40% | 50.2x | 5/9 |
| 7 | AMT | AMERICAN TOWER CORPORATION Real Estate | 4.39% | 30.1x | 6/9 |
| 8 | PSA | PUBLIC STORAGE. Real Estate | 3.41% | 31.3x | 4/9 |
| 9 | CBRE | CBRE GROUP, INC. Real Estate | 3.13% | 28.5x | 5/9 |
| 10 | VTR | VENTAS, INC. Real Estate | 3.09% | 153.5x | 6/9 |
| 11 | CCI | CROWN CASTLE INC. Real Estate | 2.82% | 38.6x | 5/9 |
| 12 | IRM | IRON MOUNTAIN INCORPORATED Real Estate | 2.40% | 139.4x | 4/9 |
| 13 | VICI | VICI PROPERTIES INC. Real Estate | 2.32% | 9.7x | 6/9 |
| 14 | EXR | EXTRA SPACE STORAGE INC. Real Estate | 2.21% | 32.5x | 7/9 |
| 15 | AVB | AVALONBAY COMMUNITIES, INC. Real Estate | 1.84% | 22.6x | 4/9 |
Historical Holdings Snapshots
Browse how IYR’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
15 holdings · 63.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | WELL | 9.96% | 2,000,885 | $395.6M |
| 2 | PLD | 9.18% | 2,758,214 | $364.6M |
| 3 | EQIX | 4.69% | 189,923 | $186.2M |
| 4 | DLR | 4.63% | 1,020,499 | $183.9M |
| 5 | SPG | 4.58% | 975,307 | $181.9M |
| 6 | O | 4.40% | 2,857,035 | $174.8M |
| 7 | AMT | 4.39% | 1,011,095 | $174.5M |
| 8 | PSA | 3.41% | 499,136 | $135.2M |
| 9 | CBRE | 3.13% | 918,178 | $124.4M |
| 10 | VTR | 3.09% | 1,500,885 | $122.7M |
| 11 | CCI | 2.82% | 1,376,110 | $111.9M |
| 12 | IRM | 2.40% | 934,834 | $95.5M |
| 13 | VICI | 2.32% | 3,377,433 | $92.3M |
| 14 | EXR | 2.21% | 670,702 | $87.9M |
| 15 | AVB | 1.84% | 447,439 | $73.1M |
2026-05-23
15 holdings · 63.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | WELL | 9.96% | 2,000,885 | $395.6M |
| 2 | PLD | 9.18% | 2,758,214 | $364.6M |
| 3 | EQIX | 4.69% | 189,923 | $186.2M |
| 4 | DLR | 4.63% | 1,020,499 | $183.9M |
| 5 | SPG | 4.58% | 975,307 | $181.9M |
| 6 | O | 4.40% | 2,857,035 | $174.8M |
| 7 | AMT | 4.39% | 1,011,095 | $174.5M |
| 8 | PSA | 3.41% | 499,136 | $135.2M |
| 9 | CBRE | 3.13% | 918,178 | $124.4M |
| 10 | VTR | 3.09% | 1,500,885 | $122.7M |
| 11 | CCI | 2.82% | 1,376,110 | $111.9M |
| 12 | IRM | 2.40% | 934,834 | $95.5M |
| 13 | VICI | 2.32% | 3,377,433 | $92.3M |
| 14 | EXR | 2.21% | 670,702 | $87.9M |
| 15 | AVB | 1.84% | 447,439 | $73.1M |
2026-05-22
15 holdings · 61.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | WELL | 9.55% | 2,246,526 | $417.0M |
| 2 | PLD | 8.89% | 3,040,419 | $388.1M |
| 3 | EQIX | 4.68% | 266,831 | $204.4M |
| 4 | SPG | 4.57% | 1,078,783 | $199.7M |
| 5 | AMT | 4.37% | 1,087,102 | $190.9M |
| 6 | O | 4.05% | 3,137,384 | $176.9M |
| 7 | DLR | 3.90% | 1,101,238 | $170.4M |
| 8 | CBRE | 3.68% | 999,754 | $160.8M |
| 9 | PSA | 3.20% | 538,583 | $139.8M |
| 10 | CCI | 3.02% | 1,485,222 | $132.0M |
| 11 | VTR | 2.84% | 1,602,046 | $124.0M |
| 12 | VICI | 2.35% | 3,645,230 | $102.5M |
| 13 | CSGP | 2.23% | 1,445,468 | $97.2M |
| 14 | EXR | 2.16% | 723,881 | $94.3M |
| 15 | AVB | 2.00% | 482,333 | $87.5M |
2026-05-21
15 holdings · 61.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | WELL | 9.55% | 2,246,526 | $417.0M |
| 2 | PLD | 8.89% | 3,040,419 | $388.1M |
| 3 | EQIX | 4.68% | 266,831 | $204.4M |
| 4 | SPG | 4.57% | 1,078,783 | $199.7M |
| 5 | AMT | 4.37% | 1,087,102 | $190.9M |
| 6 | O | 4.05% | 3,137,384 | $176.9M |
| 7 | DLR | 3.90% | 1,101,238 | $170.4M |
| 8 | CBRE | 3.68% | 999,754 | $160.8M |
| 9 | PSA | 3.20% | 538,583 | $139.8M |
| 10 | CCI | 3.02% | 1,485,222 | $132.0M |
| 11 | VTR | 2.84% | 1,602,046 | $124.0M |
| 12 | VICI | 2.35% | 3,645,230 | $102.5M |
| 13 | CSGP | 2.23% | 1,445,468 | $97.2M |
| 14 | EXR | 2.16% | 723,881 | $94.3M |
| 15 | AVB | 2.00% | 482,333 | $87.5M |
2026-05-20
15 holdings · 61.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | WELL | 9.55% | 2,246,526 | $417.0M |
| 2 | PLD | 8.89% | 3,040,419 | $388.1M |
| 3 | EQIX | 4.68% | 266,831 | $204.4M |
| 4 | SPG | 4.57% | 1,078,783 | $199.7M |
| 5 | AMT | 4.37% | 1,087,102 | $190.9M |
| 6 | O | 4.05% | 3,137,384 | $176.9M |
| 7 | DLR | 3.90% | 1,101,238 | $170.4M |
| 8 | CBRE | 3.68% | 999,754 | $160.8M |
| 9 | PSA | 3.20% | 538,583 | $139.8M |
| 10 | CCI | 3.02% | 1,485,222 | $132.0M |
| 11 | VTR | 2.84% | 1,602,046 | $124.0M |
| 12 | VICI | 2.35% | 3,645,230 | $102.5M |
| 13 | CSGP | 2.23% | 1,445,468 | $97.2M |
| 14 | EXR | 2.16% | 723,881 | $94.3M |
| 15 | AVB | 2.00% | 482,333 | $87.5M |
2026-05-19
15 holdings · 61.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | WELL | 9.55% | 2,246,526 | $417.0M |
| 2 | PLD | 8.89% | 3,040,419 | $388.1M |
| 3 | EQIX | 4.68% | 266,831 | $204.4M |
| 4 | SPG | 4.57% | 1,078,783 | $199.7M |
| 5 | AMT | 4.37% | 1,087,102 | $190.9M |
| 6 | O | 4.05% | 3,137,384 | $176.9M |
| 7 | DLR | 3.90% | 1,101,238 | $170.4M |
| 8 | CBRE | 3.68% | 999,754 | $160.8M |
| 9 | PSA | 3.20% | 538,583 | $139.8M |
| 10 | CCI | 3.02% | 1,485,222 | $132.0M |
| 11 | VTR | 2.84% | 1,602,046 | $124.0M |
| 12 | VICI | 2.35% | 3,645,230 | $102.5M |
| 13 | CSGP | 2.23% | 1,445,468 | $97.2M |
| 14 | EXR | 2.16% | 723,881 | $94.3M |
| 15 | AVB | 2.00% | 482,333 | $87.5M |
Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Fama-French 5-Factor Exposure
Academic factor model decomposition — what's really driving this ETF's returns.
Fama-French 5-Factor Model. Data: Kenneth French Data Library. Regression over 3 years of daily returns.
Price Chart with Moving Averages
What Drove IYR Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedThe current price of $102.72 for the iShares U.S. Real Estate ETF reflects a specific snapshot in its trading range, yet without access to historical moving averages or relative strength index data, any definitive statement regarding momentum direction remains speculative. In a typical technical analysis framework, determining whether short-term trend strength is bullish or bearish requires comparing the current valuation against key exponential and simple moving averages, as well as evaluating the RSI level for signs of overbought or oversold conditions. Since these critical comparative metrics are absent from the provided dataset, it is impossible to ascertain if the asset is currently trading above its long-term trend lines or exhibiting specific momentum characteristics that would signal a continuation or reversal of recent price action. Furthermore, isolating a single data point such as $102.72 does not provide sufficient context to evaluate the sustainability of the current trajectory within the broader Real Estate sector. Technical indicators rely on the interaction between multiple timeframes and statistical thresholds; without knowing where this price sits relative to its recent history or how velocity is changing, one cannot deduce whether short-term momentum is accelerating or decelerating. Consequently, while the market may be reacting to fundamental shifts in interest rates or housing data that influence Real Estate securities generally, the technical setup itself remains undefined based solely on the available information. Readers must await further price action and complete indicator readings before forming a view on potential trend reversals or continuations for this specific instrument.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How IYR’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
AUM & Capital Flow Tracker
Estimated assets under management derived from SEC filings and daily price movements — tracks how the fund's value evolves over time.
Estimated AUM derived from the latest SEC N-PORT filing TNA ($3.97B) scaled by daily price changes. Filing snapshots update when new regulatory filings are published (quarterly for most funds, daily for ARK).
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-02.
SecuritiesDB is for informational purposes only. Not investment advice.