IYRI ETF — Holdings & Analysis

The NEOS Real Estate High Income ETF (IYRI) is an equity ETF managed by Neos, with $0.24 billion in assets under management.

Launched in January 2025, IYRI aims to generate high monthly income and potential equity appreciation through investments primarily in real estate companies. With an expense ratio of 0.68%, IYRI focuses on high-income opportunities within the real estate sector, distinguishing itself through its specific income-generating strategy.

NEOS Real Estate High Income ETF (IYRI) ETF — Price, Holdings & Analysis

The NEOS Real Estate High Income ETF (IYRI) is an equity ETF managed by Neos, with $0.24 billion in assets under management. Launched in January 2025, IYRI aims to generate high monthly income and potential equity appreciation through investments primarily in real estate companies. With an expense ratio of 0.68%, IYRI focuses on high-income opportunities within the real estate sector, distinguishing itself through its specific income-generating strategy.

ETF Overview

The NEOS Real Estate High Income ETF (the “Fund”) seeks to generate high monthly income with the potential for equity appreciation.

The NEOS Real Estate High Income ETF (IYRI) seeks to provide investors with high monthly income and potential equity appreciation by focusing on real estate-related investments. The fund primarily invests in companies within the real estate sector, allocating 99.3% of its assets to real estate and 0.7% to communication services. IYRI's top holdings include Welltower Inc (WELL) at 10.19%, Prologis Inc (PLD) at 9.73%, and Equinix Inc (EQIX) at 5.51%, indicating a significant concentration in large-cap real estate companies. The fund's strategy involves selecting companies with strong income-generating potential within the real estate market. With a strong focus on the United States (99.6% allocation), IYRI offers targeted exposure to the U.S. real estate market, aiming to deliver consistent monthly income to its investors. The fund's investment approach is designed for investors seeking both income and capital appreciation within the real estate sector.

Risk Metrics

Investing in IYRI involves several risks. The fund's concentration in the real estate sector (99.3%) exposes it to sector-specific risks, such as changes in interest rates, property values, and economic conditions affecting the real estate market. The fund's beta of 0.00 indicates that it has very low volatility relative to the market. The expense ratio of 0.68% can create a drag on returns, especially in a low-return environment. Additionally, the fund's concentrated holdings, with the top 10 holdings accounting for a significant portion of the portfolio, increase the risk associated with the performance of those specific companies. these may be worth researching concentration and sector-specific risks before investing in IYRI. Past performance does not guarantee future results.

Expense Ratio

0.68%

What does IYRI hold?

Holding	Weight
Welltower Inc (WELL)	10.19%
Prologis Inc (PLD)	9.73%
Equinix Inc (EQIX)	5.51%
American Tower Corp (AMT)	5.13%
Simon Property Group Inc (SPG)	4.70%
Realty Income Corp (O)	4.43%
Digital Realty Trust Inc (DLR)	4.22%
Public Storage (PSA)	3.61%
CBRE Group Inc Class A (CBRE)	3.28%
Crown Castle Inc (CCI)	2.95%

How Is the Fund Allocated?

Sector	Weight
Real Estate	99.3%
Communication Services	0.7%

Country	Weight
Other	0.4%
United States	99.6%

Dividend Yield

0.00%

State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
State Street Financial Select Sector SPDR ETF (XLF) — 0.08% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
iShares MSCI EAFE ETF (EFA) — 0.32% expense ratio

NEOS MSCI EAFE High Income ETF (NIHI) (Equity) — 0.75% expense ratio
NEOS Enhanced Income Credit Select ETF (HYBI) (Fixed Income) — 0.68% expense ratio
NEOS S&P 500 Hedged Equity Income ETF (SPYH) (Equity) — 0.68% expense ratio
NEOS Long/Short Equity Income ETF (NLSI) (Equity) — 2.89% expense ratio
NEOS Boosted Nasdaq-100 High Income ETF (XQQI) (Equity) — 0.98% expense ratio
NEOS Gold High Income ETF (IAUI) (Commodity) — 0.78% expense ratio

Risk Metrics

Beta: 0.00

Questions & Answers

What is IYRI and what does it track?

IYRI, the NEOS Real Estate High Income ETF, is designed to provide investors with high monthly income and potential equity appreciation.

Launched in January 2025, the fund primarily invests in real estate companies, allocating 99.3% of its assets to the real estate sector. Its top holdings include companies like Welltower Inc (WELL) and Prologis Inc (PLD).

What is the expense ratio for IYRI?

The expense ratio for IYRI is 0.68%. This means that for every $10,000 invested in the fund, $68 is used to cover the fund's operating expenses annually.

While this provides access to a diversified portfolio of real estate companies, the expense ratio can impact overall returns, especially when compared to passively managed ETFs with lower expense ratios. Investors should consider the expense ratio as part of their overall investment decision.

What are the top holdings in IYRI?

The top holdings in IYRI include some of the largest and most well-known companies in the real estate sector.

As of March 2026, the top three holdings are Welltower Inc (WELL) at 10.19%, Prologis Inc (PLD) at 9.73%, and Equinix Inc (EQIX) at 5.51%.

Is IYRI a good long-term investment?

Whether IYRI is a suitable long-term investment depends on an investor's individual financial goals and risk tolerance. The fund's focus on high monthly income may appeal to income-seeking investors.

However, the fund's concentration in the real estate sector (99.3%) exposes it to sector-specific risks. With an expense ratio of 0.68%, the fund's costs should be considered.

How does IYRI compare to similar ETFs?

IYRI distinguishes itself with its focus on high monthly income within the real estate sector. Its expense ratio is 0.68%. The fund's AUM is $0.24 billion, which may be smaller than some of its competitors.

Does IYRI pay dividends?

As of March 15, 2026, the NEOS Real Estate High Income ETF (IYRI) has a dividend yield of 0.00%.

While the fund's objective is to generate high monthly income, the current dividend yield indicates that it is not distributing dividends at this time. Investors seeking regular dividend income may need to consider other investment options that offer a higher or more consistent dividend payout.