Michael Chabon's Summerland might count - 2002, sometimes shelved in YA (sometimes in middle-grade), spends a lot of time in a fantasy world but starts out in ours, there is sort of an item but it's not a power ring or anything.
Graphic novel: Clubbing, from the short-lived Minx line. I didn't think it was great, but it fits what you're looking for.
Shiver, Maggie Stiefvater, werewolves, YA urban fantasy. First book fits, later books borderline.
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Michael Chabon's Summerland might count - 2002, sometimes shelved in YA (sometimes in middle-grade), spends a lot of time in a fantasy world but starts out in ours, there is sort of an item but it's not a power ring or anything.
Graphic novel: Clubbing, from the short-lived Minx line. I didn't think it was great, but it fits what you're looking for.
Shiver, Maggie Stiefvater, werewolves, YA urban fantasy. First book fits, later books borderline.