At a glance
RIET charges 0.5% a year, above the 0.47% average of the 3 funds most like it (the 3rd cheapest of 4). It has $104.5M in assets, the 3rd largest of that group; it paid 13.03% of its price in distributions over the past 12 months, monthly. Over the past year it returned −2.1% with distributions reinvested (S&P 500: +11.5%), 3rd of those 4 funds; over three years it returned +9.4% a year. At its worst it fell 31.9% in the 2022 bear market (S&P 500: 24.5%), and is still below its earlier high. Its ten largest positions make up 16.7% of the fund, out of 100 in all.
The short version
Hoya Capital High Dividend Yield ETF (RIET) is an index fund that tracks the Hoya Capital High Dividend Yield Index. The index holds 100 high-yielding U.S. real estate stocks and REIT preferred shares. It pays monthly, and its trailing 12-month yield was 13.03% as of October 27, 2026. Equal-sized positions tilt it toward small and mid-size REITs. Its 0.50% expense ratio is slightly above the 0.47% average of similar funds.
Price history
The interactive chart needs JavaScript.
RIET -2.1% 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 | |
|---|---|---|---|---|---|---|
| RIET official prospectus, to Dec 31, 2025 | — | +2.34% | — | — | — | -1.63% |
| RIET price data to Oct 27, 2026 | -1.8% | -2.1% | +9.4% | -2.3% | — | -1.9% |
- Over the year to Oct 27, 2026, RIET returned -2.1%, 3rd of 4 among similar funds.
- Its 5-year annualized return was -2.3%.
- Its worst full calendar year was 2022 (-25.6%); its best was 2023 (+13.6%).
- The deepest fall in its price history was 34.5% (Jan 4, 2022 to Oct 27, 2023), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -1.8% | — |
| 2025 | +3.0% | +2.34% |
| 2024 | +1.7% | +1.59% |
| 2023 | +13.6% | +12.45% |
| 2022 | -25.6% | -24.97% |
| 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 30% over that stretch · deepest drop along the way 31.9%, not recovered by the end of the data |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.9000 | |
| 2025 | $1.0800 | 0.0% |
| 2024 | $1.0800 | 0.0% |
| 2023 | $1.0800 | +12.5% |
| 2022 | $0.9600 |
What's inside
As of May 31, 2026, the fund held 100 securities; the ten largest made up 16.71% of assets, and 9.99% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| National Storage Affiliates Tr | 2.10% | |
| Lineage Inc | 1.83% | |
| Apple Hospitality REIT Inc | 1.77% | |
| Americold Realty Trust Inc | 1.71% | |
| WP Carey Inc | 1.57% | |
| Broadstone Net Lease Inc | 1.56% | |
| EPR Properties | 1.56% | |
| Gaming and Leisure Properties | 1.54% | |
| NNN REIT Inc | 1.54% | |
| Realty Income Corp | 1.53% | |
| Healthpeak Properties Inc | 1.52% | |
| Sabra Health Care REIT Inc | 1.50% | |
| Omega Healthcare Investors Inc | 1.47% | |
| RLJ Lodging Trust | 1.47% | |
| Adamas Trust Inc | 1.46% |
By country
United States 99.37%By asset type
Stocks 89.89%Preferred stock 9.48%What changed recently
- Over the three months to May 31, 2026, investors added a net $4.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -5.40%, +7.13%, +1.68%.
How it works
RIET is an index fund tracking the Hoya Capital High Dividend Yield Index, built by Hoya Capital Index Innovations. The index holds 100 U.S.-listed real estate securities chosen for high dividend yields, drawn mainly from real estate investment trusts (REITs, companies that own or finance property and pay out most income as dividends).
First come 10 "Dividend Champions," high yielders picked from the largest companies in each property sector, such as storage, healthcare and lodging, after the lowest-yielding and most indebted candidates are set aside. Next come the highest-yielding remaining REITs in large-, mid- and small-cap tiers, then 30 preferred stocks (shares that usually pay set dividends) drawn from the 75 most actively traded. Target weights are 15% for Champions, 15% for large caps, 30% each for mid and small caps, and 10% for preferreds. Weights follow the group, not company size, so small REITs count nearly as much as large ones.
The index is rebuilt and reset to its target weights each June and December, and the provider may move a group's weight by up to ten percentage points. The fund usually owns every index security in matching proportions but may hold a representative subset. At least 80% of net assets must be in dividend-paying securities. It uses no leverage or options.
What it really costs
- RIET charges 0.5% a year, versus an average of 0.47% for the similar funds below (3rd of 4, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $51 in the first year and $628 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| RIET | $51 | $160 | $280 | $628 |
In a retirement portfolio
RIET is built to deliver high monthly payouts from real estate securities, not broad growth or downside protection.
RIET's main appeal is income. It pays monthly, and its trailing 12-month yield was 13.03% as of October 27, 2026. The fund launched in September 2021, so it has no record in the 2008 or 2020 crashes. In the 2022 bear market it fell 31.9%, and it lost 24.97% for 2022 as a whole. Its deepest drop was 34.5%, from January 2022 to October 2023, and it had not recovered as of October 27, 2026. Anyone who sold shares for cash during a stretch like that would have locked in losses. High payouts can also be cut when REITs are under strain. In the SEC's standard example, costs come to $51 in the first year on a $10,000 investment. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Income seekers who want monthly payouts from real estate. The trailing yield was 13.03% as of October 27, 2026, though payouts can change.
- Investors who want REIT exposure spread across 100 securities. As of May 31, 2026, no position was larger than about 2.1%.
- Those who want more weight in small and mid-size REITs and REIT preferred shares than funds weighted by company size give them.
Look elsewhere if
- Investors focused on total return. The fund averaged -1.63% a year from its 2021 launch through December 31, 2025.
- Cost-conscious buyers. Its 0.50% expense ratio is above the 0.35% charged by ALPS REIT Dividend Dogs ETF (RDOG), a similar fund.
- Anyone who can't ride out deep drops. It fell 34.5% from January 2022 to October 2023 and had not recovered by October 27, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
Does RIET pay monthly dividends?
Yes. RIET pays distributions every month. In the 12 months to October 27, 2026, it paid $1.08 per share, a trailing yield of 13.03%. A trailing yield looks backward and does not promise future payments. The payout depends on the dividends from the fund's REITs and preferred shares. High-yielding real estate companies can cut dividends when business weakens or borrowing costs rise.
Is RIET good for retirement income?
It can provide large monthly income, but with real risk. The trailing yield was 13.03% as of October 27, 2026. Even so, the fund lost 24.97% in 2022. From its September 2021 launch through December 31, 2025, it averaged -1.63% a year. Its deepest drop, 34.5%, had not been recovered as of October 27, 2026. Because it holds only real estate, it may fit better as one part of a broader mix than as a whole portfolio.
What's the difference between RIET and RDOG?
Both hold high-dividend REITs, and about 38% of their holdings overlap. RDOG, the ALPS REIT Dividend Dogs ETF, is cheaper: 0.35% a year against RIET's 0.50%. As of October 27, 2026, it also did better, returning 12.8% over one year against RIET's -2.1%. Over three years it returned 14.3% a year against RIET's 9.4%. RIET is larger, with $104.5 million in net assets as of May 31, 2026. RDOG had $11.1 million as of August 31, 2026. RIET also holds 30 REIT preferred shares.
What stocks are in RIET?
As of May 31, 2026, RIET held 100 real estate securities, and no position was larger than about 2.1%. The biggest were National Storage Affiliates Trust (2.1%), Lineage (1.8%), Apple Hospitality REIT (1.8%), Americold Realty Trust (1.7%) and WP Carey (1.6%). Other top holdings included net lease REITs such as Realty Income and NNN REIT, and healthcare REITs such as Omega Healthcare and Sabra. The 10 largest made up just 16.71% of assets. Preferred shares made up 9.48%.
Why is RIET's dividend yield so high?
Its index is designed to pick the highest-yielding real estate securities. REITs must pay out most of their taxable income as dividends, so the group already yields a lot. RIET then screens for the biggest payers, including small REITs, mortgage lenders and preferred shares. A yield also rises when a stock's price falls, so some holdings yield more because investors see more risk. The cost shows in price returns: -2.3% a year over five years as of October 27, 2026.