^DWRTF vs. USRT

Last updated Jun 3, 2026

^DWRTF (Dow Jones U.S. Select REIT Index) is an index, while USRT (iShares Core U.S. REIT ETF) is REIT fund tracking the FTSE NAREIT Equity REITs Index. Over the past 10 years, ^DWRTF returned 1.62%/yr vs 6.21%/yr for USRT. With a 0.97 correlation, they move nearly in lockstep.

Performance

^DWRTF vs. USRT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dow Jones U.S. Select REIT Index (^DWRTF) and iShares Core U.S. REIT ETF (USRT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ^DWRTF achieves a 10.43% return, which is significantly lower than USRT's 12.59% return. Over the past 10 years, ^DWRTF has underperformed USRT with an annualized return of 1.62%, while USRT has yielded a comparatively higher 6.21% annualized return.

^DWRTF

• 1D: 0.56%
• 1M: -1.67%
• YTD: 10.43%
• 6M: 8.32%
• 1Y: 10.88%
• 3Y*: 7.22%
• 5Y*: 0.73%
• 10Y*: 1.62%

USRT

• 1D: 0.08%
• 1M: -0.19%
• YTD: 12.59%
• 6M: 11.36%
• 1Y: 15.26%
• 3Y*: 11.53%
• 5Y*: 4.73%
• 10Y*: 6.21%

*Multi-year figures are annualized to reflect compound growth (CAGR)

^DWRTF vs. USRT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^DWRTF Dow Jones U.S. Select REIT Index	10.43%	-0.33%	4.06%	9.32%	-28.53%	41.64%	-14.64%	18.60%	-8.02%	-0.08%
USRT iShares Core U.S. REIT ETF	12.59%	2.44%	8.58%	13.64%	-24.43%	43.26%	-8.06%	25.98%	-4.67%	5.27%

Correlation

The correlation between ^DWRTF and USRT is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since May 19, 2010	0.97

The correlation between ^DWRTF and USRT has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

Return for Risk

^DWRTF vs. USRT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^DWRTF

^DWRTF Risk / Return Rank: 40
^DWRTF Sharpe Ratio Rank: 38
^DWRTF Sortino Ratio Rank: 35
^DWRTF Omega Ratio Rank: 37
^DWRTF Calmar Ratio Rank: 43
^DWRTF Martin Ratio Rank: 45

USRT

USRT Risk / Return Rank: 33
USRT Sharpe Ratio Rank: 31
USRT Sortino Ratio Rank: 29
USRT Omega Ratio Rank: 29
USRT Calmar Ratio Rank: 38
USRT Martin Ratio Rank: 38

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^DWRTF vs. USRT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dow Jones U.S. Select REIT Index (^DWRTF) and iShares Core U.S. REIT ETF (USRT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	^DWRTF	USRT	Difference
Sharpe ratio Return per unit of total volatility	0.82	1.15	-0.34
Sortino ratio Return per unit of downside risk	1.18	1.63	-0.45
Omega ratio Gain probability vs. loss probability	1.15	1.20	-0.06
Calmar ratio Return relative to maximum drawdown	1.38	1.91	-0.53
Martin ratio Return relative to average drawdown	4.32	6.15	-1.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^DWRTF vs. USRT - Sharpe Ratio Comparison

The current ^DWRTF Sharpe Ratio is 0.82, which is comparable to the USRT Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of ^DWRTF and USRT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^DWRTF	USRT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.82	1.15	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.25	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	0.29	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.18	+0.03

Drawdowns

^DWRTF vs. USRT - Drawdown Comparison

The maximum ^DWRTF drawdown since its inception was -44.52%, smaller than the maximum USRT drawdown of -69.91%. Use the drawdown chart below to compare losses from any high point for ^DWRTF and USRT.

Drawdown Indicators

	^DWRTF	USRT	Difference
Max Drawdown Largest peak-to-trough decline	-44.52%	-69.91%	+25.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.04%	-8.04%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-19.92%	-18.70%	-1.22%
Max Drawdown (5Y) Largest decline over 5 years	-36.72%	-31.03%	-5.69%
Max Drawdown (10Y) Largest decline over 10 years	-44.52%	-44.38%	-0.14%
Current Drawdown Current decline from peak	-10.51%	-3.01%	-7.50%
Average Drawdown Average peak-to-trough decline	-11.71%	-12.97%	+1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	2.49%	+0.07%

Volatility

^DWRTF vs. USRT - Volatility Comparison

Dow Jones U.S. Select REIT Index (^DWRTF) has a higher volatility of 4.17% compared to iShares Core U.S. REIT ETF (USRT) at 3.92%. This indicates that ^DWRTF's price experiences larger fluctuations and is considered to be riskier than USRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^DWRTF	USRT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	3.92%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	9.49%	9.25%	+0.24%
Volatility (1Y) Calculated over the trailing 1-year period	13.37%	13.28%	+0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.10%	18.89%	+0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.53%	21.28%	+0.25%

Frequently Asked Questions

Can I hold both ^DWRTF and USRT in my portfolio?

With a correlation of 0.99, ^DWRTF and USRT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ^DWRTF or USRT?

^DWRTF has higher volatility (4.17%) compared to USRT (3.92%). In terms of maximum drawdown, ^DWRTF dropped -44.52% vs USRT's -69.91%.

Which has better risk-adjusted returns?

USRT currently has the higher Sharpe Ratio (1.15 vs 0.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.