The iShares U.S. Real Estate ETF (NYSEArca: IYR) was down for the fifth straight session on Wednesday as investors sell REIT funds on expectations the sector will be damaged by rising interest rates.

IYR and other real estate funds such as Vanguard REIT Index ETF (NYSEArca: VNQ) and SPDR Dow Jones REIT ETF (NYSEArca: RWR) have seen trading volume accelerate this week.

“IYR continued higher into mid May, but peaked last week and fell sharply the last four days,” said senior technical analyst Arthur Hill in a blog post Tuesday. “Interest rate sensitive issues are not having a good time right now.”

Another technical analyst, Chris Kimble at Kimble Charting Solutions, points out that IYR is breaking down from a so-called rising wedge, a bearish development.

Investors have hammered rate-sensitive sectors like REITs and utilities in May as Treasury yields rise and on speculation the Federal Reserve may step back from its bond purchases.

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