At a glance
IVRA charges 0.58% a year, above the 0.19% average of the 8 funds most like it (the most expensive of 9). It has $11.9M in assets, the 9th largest of that group; it paid 15.89% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +11.5% with distributions reinvested (S&P 500: +11.5%), the best of those 9 funds; over three years it returned +18.9% a year. At its worst it fell 26.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 22 months after the low. Its ten largest positions make up 36.5% of the fund, out of 57 in all.
The short version
Invesco Real Assets ESG ETF (IVRA) is an actively managed fund of North American real estate, infrastructure, natural resource and timber stocks that pass ESG (environmental, social and governance) screens. Beyond REITs (real estate investment trusts), it owns energy and materials stocks like Williams and Freeport-McMoRan. It charges 0.58% a year, more than any of eight similar funds (average 0.19%), though it beat them on one- and three-year returns as of October 27, 2026.
Price history
The interactive chart needs JavaScript.
IVRA +11.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| IVRA official prospectus, to Dec 31, 2024 | — | +12.86% | — | — | — | +11.33% |
| IVRA price data to Oct 27, 2026 | +11.7% | +11.5% | +18.9% | +6.6% | — | +9.3% |
- Over the year to Oct 27, 2026, IVRA returned +11.5%, 1st of 9 among similar funds.
- Its 5-year annualized return was +6.6%.
- Its worst full calendar year was 2022 (-10.3%); its best was 2024 (+12.9%).
- The deepest fall in its price history was 26.1% (Apr 20, 2022 to Oct 14, 2022), recovered by Aug 23, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +11.7% | — |
| 2025 | +10.2% | — |
| 2024 | +12.9% | +12.86% |
| 2023 | +8.7% | +9.43% |
| 2022 | -10.3% | -10.03% |
| 2021 | — | +35.93% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 19.1% over that stretch · deepest drop along the way 26%, back to its old high 22.4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.9700 | |
| 2025 | $0.9200 | +67.3% |
| 2024 | $0.5500 | +83.3% |
| 2023 | $0.3000 | +15.4% |
| 2022 | $0.2600 |
What's inside
As of Jan 31, 2026, the fund held 57 securities; the ten largest made up 36.45% of assets.
| Holding | Weight | |
|---|---|---|
| Williams Cos., Inc. (The) | 4.48% | |
| Welltower Inc. | 4.29% | |
| Prologis, Inc. | 4.25% | |
| American Tower Corp. | 3.90% | |
| Targa Resources Corp. | 3.84% | |
| ONEOK, Inc. | 3.53% | |
| Corteva, Inc. | 3.49% | |
| Equinix, Inc. | 3.06% | |
| Cheniere Energy, Inc. | 2.82% | |
| Freeport-McMoRan Inc. | 2.79% | |
| Enbridge Inc. | 2.77% | |
| Public Storage | 2.55% | |
| Digital Realty Trust, Inc. | 2.53% | |
| Newmont Corp. | 2.48% | |
| Nutrien Ltd. | 2.30% |
By country
United States 89.24%Canada 8.4%Ireland 1.47%Mexico 0.49%By asset type
Stocks 99.61%By sector
Sectors of the companies held, for the 61.2% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jan 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jan 31, 2026, investors withdrew a net $2.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +3.74%, -0.48%, +4.94%.
How it works
IVRA is actively managed. Its sub-adviser, Invesco Advisers, Inc., picks stocks rather than tracking an index. It puts at least 80% of net assets into North American "real assets" companies in real estate, infrastructure, natural resources and timber. More than 25% goes to U.S. real estate and infrastructure. Up to 25% can be foreign, including up to 10% in emerging markets.
Using data from an outside ESG provider, the team first drops companies substantially involved in tobacco, alcohol, weapons, recreational cannabis, thermal coal mining, unconventional fossil-fuel extraction or private prisons. It also drops companies that break UN Global Compact principles on human rights, labor, environment and corruption. It then weighs ESG factors alongside fundamentals such as growth, sustainable dividends, asset location and balance-sheet strength. The screens target coal and unconventional fuels, not energy as a whole: Williams, Targa Resources and ONEOK were top-six holdings as of January 31, 2026.
Managers sell when a stock no longer meets the criteria or a better one appears. The prospectus filed May 12, 2025, reported turnover of 132%, meaning the fund traded more than its whole portfolio in a year. Those trading costs come on top of the expense ratio. As of January 31, 2026, it held 57 stocks, with 36% of assets in the top 10 and no derivatives.
What it really costs
- IVRA charges 0.58% a year, versus an average of 0.19% for the similar funds below (9th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $59 in the first year and $726 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IVRA | $59 | $186 | $324 | $726 |
In a retirement portfolio
It is a small, actively managed fund concentrated in real estate, energy and other real-asset stocks, and it costs more than similar funds, so it fits better as a small slice than as a core position.
IVRA could add real estate, energy and natural-resource stocks to a portfolio. It launched in December 2020, so it has no record from the 2008 crisis or the 2020 COVID crash. In the 2022 bear market it fell about 26% between April 20 and October 14, 2022. It did not get back to that peak until August 23, 2024, about 22 months later. Its worst calendar year was 2022, down about 10%. Selling in that slump to cover spending would have locked in losses.
It pays quarterly. The trailing 12-month yield was 15.89% as of October 27, 2026. That is unusually high for a stock fund and may have been boosted by one-time payouts. The 0.58% expense ratio, versus a 0.19% average for similar funds, works out to $726 over 10 years on $10,000 in the SEC's standard example. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want North American real estate, energy and natural-resource stocks in one actively managed fund rather than a fund holding only REITs.
- ESG-minded investors comfortable with screens that drop tobacco, weapons, thermal coal and private prisons but still allow energy companies like Williams and ONEOK.
- Long-term holders who can sit through drops like its 26% fall in 2022, which took about 22 months to recover.
Look elsewhere if
- Cost-conscious investors: its 0.58% expense ratio is above all eight similar funds, including Schwab US REIT ETF (SCHH) at 0.07%.
- Those wary of a small fund closing: net assets were about $11.9 million as of January 31, 2026, after $2 million of outflows over three months.
- Investors who want a rules-based index fund: managers choose holdings themselves, and turnover was 132% per the prospectus filed May 12, 2025.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IVRA this fund | — | 0.58% | $11.9M | +11.5% | +18.9% |
| IYR iShares U.S. Real Estate ETF | 44% | 0.39% | $4.67B | +1.9% | +12.7% |
| ICF iShares Cohen & Steers REIT ETF | 43% | 0.33% | $2.10B | +7.6% | +14.2% |
| FREL Fidelity MSCI Real Estate Index ETF | 43% | 0.084% | $1.49B | +3.2% | +13.3% |
| DFAR Dimensional US Real Estate ETF | 42% | 0.19% | $1.78B | +7.6% | +14.0% |
| SCHH Schwab US REIT ETF | 42% | 0.07% | $11.20B | +7.1% | +14.1% |
| XLRE Real Estate Select Sector SPDR Fund | 41% | 0.08% | $8.10B | +2.8% | +13.3% |
| VNQ Vanguard Real Estate ETF | 41% | 0.13% | $73.11B | +9.6% | +13.8% |
Questions investors ask
Is IVRA good for retirement income?
It pays income quarterly, but its headline yield may not reflect future payouts. The trailing 12-month yield was 15.89% as of October 27, 2026, or $2.54 per share. That is unusually high for a stock fund, and one-time payouts can inflate trailing figures. The price also swings: the fund fell about 26% in 2022 and took about 22 months to recover. Its 0.58% expense ratio is above the 0.19% average of similar funds.
What does IVRA invest in?
IVRA holds North American real-asset stocks. As of January 31, 2026, its largest holdings were Williams Cos. (4.5%), Welltower (4.3%), Prologis (4.2%), American Tower (3.9%) and Targa Resources (3.8%). It held 57 stocks, with about 36% of assets in the top 10. About 89% was in U.S. companies and 8% in Canadian ones. Sector labels covered about 61% of assets: real estate 26.8%, energy 14.7%, utilities 8.1%, materials 6.4% and consumer staples 5.2%.
What's the difference between IVRA and IYR?
IVRA is actively managed and mixes real estate with energy, utilities and natural resources under ESG screens. IYR, the iShares U.S. Real Estate ETF, sticks to real estate. Their holdings overlap by 44%. IYR charges 0.39% versus 0.58%. It had about $4.7 billion in net assets as of June 30, 2026, against IVRA's $11.9 million as of January 31, 2026. Based on market prices through October 27, 2026, IVRA returned 11.5% over one year and 18.9% a year over three, versus 1.9% and 12.7% for IYR.
What is IVRA's expense ratio?
IVRA's expense ratio is 0.58%, all of it management fee, according to the prospectus filed May 12, 2025. The SEC's standard example assumes $10,000 invested and a 5% yearly return. On that basis, costs total about $59 after one year, $324 after five and $726 after 10. Eight similar funds average 0.19%, and Schwab US REIT ETF charges 0.07%. Turnover of 132% also adds trading costs that the expense ratio leaves out.
How has IVRA performed since launch?
It has risen in every full calendar year since launch except 2022. According to its prospectus, IVRA returned an average of 11.33% a year from its December 22, 2020, launch through December 31, 2024. That included 35.93% in 2021, a 10.03% loss in 2022, 9.43% in 2023 and 12.86% in 2024. Based on market prices, it gained 10.23% in 2025 and 11.7% in 2026 through October 27. Its worst quarter was a 13.45% loss in the three months ended June 30, 2022.