2 Real Estate ETFs With Opposite Strategies: HAUZ Spans the Globe, ICF Bets Big on the U.S.
Key Points
HAUZ charges a lower expense ratio and delivers a higher dividend yield than ICF.
ICF outperformed HAUZ over five years, but HAUZ has delivered stronger one-year returns and holds more international diversification.
Both ETFs experienced similar maximum drawdowns, though HAUZ shows lower beta and broader sector exposure.
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Xtrackers International Real Estate ETF (NYSEMKT:HAUZ) stands out for its lower cost, higher yield, and international diversification, while iShares Select U.S. REIT ETF (NYSEMKT:ICF) maintains a more concentrated U.S. REIT approach with stronger long-term growth.
Both ICF and HAUZ target real estate exposure, but they go about it very differently. ICF focuses exclusively on U.S. real estate investment trusts, while HAUZ casts a much wider net across global developed and emerging markets (excluding the U.S., Pakistan, and Vietnam). This comparison explores cost, performance, risk, liquidity, and portfolio makeup to help clarify which may appeal more for real estate allocation.
Snapshot (cost & size)
| Metric | ICF | HAUZ |
|---|---|---|
| Issuer | iShares | Xtrackers |
| Expense ratio | 0.32% | 0.10% |
| 1-yr return (as of 2026-03-18) | 7.4% | 19.6% |
| Dividend yield | 2.6% | 4.0% |
| Beta | 1.11 | 0.05 |
| AUM | $2.1 billion | $1.1 billion |
Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months.
HAUZ is more affordable on fees, charging less than half the expense ratio of ICF, and offers a notably higher dividend yield, which could appeal to income-focused investors as well as those seeking cost efficiency.
Performance & risk comparison
| Metric | ICF | HAUZ |
|---|---|---|
| Max drawdown (5 y) | -34.75% | -34.53% |
| Growth of $1,000 over 5 years | $1,117 | $850 |
What's inside
HAUZ tracks international real estate, spanning 445 holdings across developed and emerging markets (excluding the U.S., Pakistan, and Vietnam), and has been operating for 12 years. Its portfolio is 96% real estate, with smaller allocations to industrials and communication services. Top holdings include Goodman, Mitsubishi, and Mitsui Fudosan, reflecting a strong tilt toward Asia-Pacific property companies and broad diversification.
By contrast, ICF is tightly focused on U.S. REITs, holding just 34 names. Its top holdings are Equinix(NASDAQ:EQIX), Welltower (NYSE:WELL), and American Tower(NYSE:AMT), which together make up a significant portion of the fund. This concentrated approach means investors are more exposed to large-cap U.S. property operators, with no exposure to international real estate trends.
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What this means for investors
Real estate investment trusts (REITs) are companies required by law to distribute at least 90% of their taxable income as dividends, making them a natural fit for income investors. ICF is a concentrated pure-play on that structure, holding just 34 of the largest U.S. REITs with nearly 60% of the fund riding on its top 10 names. That tight focus has supported solid long-term growth, but it also means the fund rises and falls closely with U.S. real estate sentiment.
By contrast, HAUZ gives you vast exposure to global real estate, tracking more than 400 international real estate securities across developed and emerging markets in Japan, Australia, and Europe. It includes real estate operating companies alongside REITs, which can modestly soften the income profile. But its yield is still meaningfully higher than ICF's, and it costs less than a third as much to own, a gap that compounds significantly over time.
For investors who already hold U.S. real estate exposure and want genuine international diversification at a low cost, HAUZ makes a compelling case. ICF is the stronger choice for those prioritizing pure domestic REIT exposure and a long, established track record.
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Sara Appino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends American Tower and Equinix. The Motley Fool has a disclosure policy.
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