ETF Comparison
EPRT vs O: Which Is the Better Pick in 2026?
A head-to-head comparison of Essential Properties Realty Trust and Realty Income Corporation covering yield, cost, risk, and income potential.
Data updated May 20, 2026
Side-by-side snapshot
| EPRT | O | |
|---|---|---|
| Full name | Essential Properties Realty Trust | Realty Income Corporation |
| Issuer | — | — |
| Last Close | $30.91 as of May 20, 2026 | $61.71 as of May 20, 2026 |
| Distribution yield | 3.95% | 5.26% |
| Expense ratio | — | — |
| AUM | — | — |
| Distribution frequency | Quarterly | Monthly |
| Underlying index | — | — |
| Objective | A real estate investment trust focused on acquiring, owning, and managing single-tenant net lease commercial properties. EPRT targets service-oriented and experience-based tenants with unit-level profitability data to support underwriting decisions. | A real estate investment trust that invests in freestanding, single-tenant commercial properties subject to long-term net lease agreements. Known as "The Monthly Dividend Company," Realty Income has a long track record of monthly dividend payments and consistent dividend growth. |
| Asset class | Real Estate | Real Estate |
| Inception date | 06/22/2018 | 10/18/1994 |
| Last dividend | $0.31 | $0.27 |
| Ex-dividend date | 03/31/2026 | 04/30/2026 |
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Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
EPRT (Essential Properties Realty Trust) and O (Realty Income Corporation) are both dividend ETFs, but they take different approaches.
O offers the higher yield at 5.26% vs 3.95% for EPRT. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
Deep dive
Yield & income
On a $10,000 investment, EPRT would generate roughly $32.92/month, while O would produce $43.83/month, at current distribution rates.
Cost & efficiency
Over 10 years on $10,000, EPRT would cost approximately $0 in fees vs $0 for O (simplified, not compounded). Both charge the same expense ratio.
Strategy & risk
EPRT tracks — with a reit approach, while O tracks — using a reit strategy.
Fund details
EPRT is managed by — (launched 06/22/2018) with — in assets. O is managed by — (launched 10/18/1994) with — in assets.
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Frequently asked questions
Is EPRT or O better for dividend income?
It depends on your goals. O currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between EPRT and O?
EPRT (Essential Properties Realty Trust) tracks — with a reit strategy, while O (Realty Income Corporation) tracks — with a reit approach. They are issued by — and — respectively.
Can I hold both EPRT and O?
Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has lower fees, EPRT or O?
EPRT has an expense ratio of — while O charges —. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in EPRT vs O generate?
At current rates, $10,000 in EPRT would generate roughly $32.92 per month ($395.00 annually). The same in O would produce about $43.83 per month ($526.00 annually).
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EPRT vs O — at a glance
Generated April 2026 from current fund data.
Overview
EPRT and O are both net lease REITs that own single-tenant commercial properties and collect predictable rent payments from tenants. The key difference: O pays monthly dividends and trades at a 5.07% yield, while EPRT pays quarterly and offers a 3.73% yield. O has been around since 1994 and built a reputation as a dividend-growth machine; EPRT is newer (2018) and takes a more selective underwriting approach focused on service-based and experience-driven retail tenants.
How they differ
The most obvious gap is distribution frequency and yield. O delivers 12 payments annually and currently yields 134 basis points higher than EPRT's quarterly schedule. That yield gap reflects O's scale (trading near $64 per share versus EPRT's $32.67) and market perception of its earnings stability and capital recycling capacity.
The second difference is tenant and property diversification philosophy. O's portfolio spans a wide spectrum of retail, restaurant, and service properties; EPRT explicitly targets unit-level tenant profitability data and concentrates in service-oriented and experience-based sectors. This means EPRT takes a narrower, more analytical approach to underwriting, while O's broader strategy relies on its size and decades of operational history.
Third is the valuation and risk profile baked into recent price action. Over the past 52 weeks, O has traded in a $54–$68 range (25% spread); EPRT has moved $28.95–$34.73 (20% range). O's higher yield and monthly cadence have attracted more capital, lifting its share price closer to historical highs; EPRT trades toward its range midpoint, suggesting less frothy sentiment or possibly less investor familiarity.
Who each is best for
EPRT: Income investors with a longer time horizon who can tolerate quarterly cash flow and prefer a smaller, more focused operator with selective underwriting discipline over the household-name stability of a mega-cap REIT. Works well in taxable accounts due to the lower yield.
O: Investors who prioritize monthly income stability, benefit from a large, operationally seasoned platform, and want dividend-growth exposure without having to chase capital appreciation. Monthly distributions suit retirees and those reinvesting dividends in tax-advantaged accounts.
Key risks to know
- Net lease structure risk: Both REITs depend on tenant rent payments and lease renewals. If economic conditions weaken and retail foot traffic declines, tenants may struggle or decline to renew, pressuring both portfolios.
- Interest rate sensitivity: Rising rates can cap cap-rate compression and limit REIT NAV upside. O's higher price and yield make it more sensitive to rate moves; a 100 bps rate increase could pressure both share prices.
- O's valuation premium: At 5.07% yield, O is priced for minimal cap-rate expansion and relies on steady dividend growth to justify its multiple. If growth stalls or yields widen, downside risk is material.
- EPRT scale and liquidity: As the smaller player, EPRT has less capital for opportunistic acquisitions during market dislocations and tighter bid-ask spreads than O, making large position entries or exits costlier.
Bottom line
If you want monthly income, a proven 30-year operator, and can accept a premium valuation, O fits that brief. If you prefer quarterly dividends, a tighter underwriting standard, and exposure to an emerging but disciplined manager at a lower yield, EPRT may suit your portfolio better. Neither is a "best" choice—it depends on your cash flow timing and conviction on REIT fundamentals. Past performance doesn't guarantee future returns.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
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