DFAR vs. XLRI

Last updated Aug 4, 2026

DFAR (Dimensional US Real Estate ETF) and XLRI (State Street Real Estate Select Sector SPDR Premium Income ETF) are both exchange-traded funds - DFAR is a REIT fund actively managed by Dimensional, while XLRI is a Derivative Income fund actively managed by State Street. Both are actively managed. Over the past year, DFAR returned 19.56% vs 10.04% for XLRI. Their correlation of 0.94 means they have usually moved in the same direction. DFAR charges 0.19%/yr vs 0.35%/yr for XLRI.

Performance

DFAR vs. XLRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Real Estate ETF (DFAR) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFAR achieves a 17.78% return, which is significantly higher than XLRI's 7.92% return.

DFAR

• 1D: -0.04%
• 1M: 0.79%
• 6M: 15.96%
• YTD: 17.78%
• 1Y: 19.56%
• 3Y*: 11.02%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.68%

XLRI

• 1D: -0.49%
• 1M: 0.85%
• 6M: 6.33%
• YTD: 7.92%
• 1Y: 10.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.22%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFAR Dimensional US Real Estate ETF	$67.51M	$62.78M	$64.52M
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	$67.65K	$68.45K	$64.14K

DFAR vs. XLRI - Yearly Performance Comparison

	2026 (YTD)	2025
DFAR Dimensional US Real Estate ETF	17.78%	-1.85%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	7.92%	-0.57%

Correlation

The correlation between DFAR and XLRI is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.94

The correlation between DFAR and XLRI has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.

Return for Risk

DFAR vs. XLRI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DFAR

DFAR Risk / Return Rank: 60
DFAR Sharpe Ratio Rank: 59
DFAR Sortino Ratio Rank: 57
DFAR Omega Ratio Rank: 55
DFAR Calmar Ratio Rank: 64
DFAR Martin Ratio Rank: 63

XLRI

XLRI Risk / Return Rank: 36
XLRI Sharpe Ratio Rank: 35
XLRI Sortino Ratio Rank: 32
XLRI Omega Ratio Rank: 33
XLRI Calmar Ratio Rank: 38
XLRI Martin Ratio Rank: 42

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DFAR vs. XLRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Real Estate ETF (DFAR) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DFAR	XLRI	Difference
Sharpe ratio: Return per unit of total volatility	1.44	0.92	+0.52
Sortino ratio: Return per unit of downside risk	2.03	1.29	+0.74
Omega ratio: Gain probability vs. loss probability	1.25	1.17	+0.09
Calmar ratio: Return relative to maximum drawdown	2.33	1.42	+0.91
Martin ratio: Return relative to average drawdown	7.87	4.95	+2.91

DFAR vs. XLRI - Sharpe Ratio Comparison

The current DFAR Sharpe Ratio is 1.44, which is higher than the XLRI Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of DFAR and XLRI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DFAR vs. XLRI - Drawdown Comparison

The maximum DFAR drawdown since its inception was -32.27%, which is greater than XLRI's maximum drawdown of -7.12%. Use the drawdown chart below to compare losses from any high point for DFAR and XLRI.

Drawdown Indicators

	DFAR	XLRI	Difference
Max Drawdown Largest peak-to-trough decline	-32.27%	-7.12%	-25.15%
Max Drawdown (1Y) Largest decline over 1 year	-8.43%	-7.12%	-1.31%
Max Drawdown (3Y) Largest decline over 3 years	-17.64%	—	—
Current Drawdown Current decline from peak	-2.26%	-1.11%	-1.15%
Average Drawdown Average peak-to-trough decline	-13.72%	-1.54%	-12.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	2.03%	+0.46%

Volatility

DFAR vs. XLRI - Volatility Comparison

Dimensional US Real Estate ETF (DFAR) has a higher volatility of 4.32% compared to State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI) at 3.34%. This indicates that DFAR's price experiences larger fluctuations and is considered to be riskier than XLRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAR	XLRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	3.34%	+0.98%
Volatility (6M) Calculated over the trailing 6-month period	10.74%	8.74%	+2.00%
Volatility (1Y) Calculated over the trailing 1-year period	13.71%	11.02%	+2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.08%	11.10%	+7.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.08%	11.10%	+7.98%

DFAR vs. XLRI - Expense Ratio Comparison

DFAR has a 0.19% expense ratio, which is lower than XLRI's 0.35% expense ratio.

Dividends

DFAR vs. XLRI - Dividend Comparison

DFAR's dividend yield for the trailing twelve months is around 2.63%, less than XLRI's 14.37% yield.

Position	TTM	2025	2024	2023	2022
DFAR Dimensional US Real Estate ETF	2.63%	2.97%	2.89%	3.06%	1.69%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	14.37%	6.85%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFAR and XLRI in my portfolio?

With a correlation of 0.94, DFAR and XLRI 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, DFAR or XLRI?

DFAR has higher volatility (4.32%) compared to XLRI (3.34%). In terms of maximum drawdown, DFAR dropped -32.27% vs XLRI's -7.12%.

Which ETF is better, DFAR or XLRI?

On 1-year performance, DFAR leads with 19.56% vs 10.04% for XLRI. On fees, DFAR is cheaper at 0.19% per year. On volatility, XLRI has been the lower-risk option at 3.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFAR or XLRI?

Over the 1-year period, DFAR has performed better with a 19.56% return vs 10.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFAR or XLRI?

DFAR is cheaper with a 0.19% expense ratio, compared with 0.35% for XLRI.

Which ETF pays a higher dividend yield, DFAR or XLRI?

XLRI has the higher dividend yield at 14.37%, compared with 2.63% for DFAR.

What is the main difference between DFAR and XLRI?

DFAR is categorized as REIT, while XLRI is Derivative Income. They also come from different issuers: Dimensional and State Street. Their fees differ too: 0.19% for DFAR and 0.35% for XLRI.

Which has better risk-adjusted returns?

DFAR currently has the higher Sharpe Ratio (1.44 vs 0.92), 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.