Recent Performance Data Shows IYR Trails Benchmark Over Several Time Frames Performance figures reveal the iShares U.S. Real Estate ETF has underperformed its benchmark over 1-, 3-, and 5-year periods, despite a 9.22% annual return last year. The ETF’s expense ratio stands at 0.39%, and its long-term returns remain below the index, raising questions about its value for buy-and-hold investors.43