DFGR vs. RWR

Last updated Jun 24, 2026

DFGR (Dimensional Global Real Estate ETF) and RWR (SPDR Dow Jones REIT ETF) are both REIT funds. DFGR is actively managed, while RWR is passively managed. Over the past 3 years, DFGR returned 11.14%/yr vs 13.63%/yr for RWR. With a 0.96 correlation, they move nearly in lockstep. DFGR charges 0.22%/yr vs 0.25%/yr for RWR.

Performance

DFGR vs. RWR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Global Real Estate ETF (DFGR) and SPDR Dow Jones REIT ETF (RWR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFGR achieves a 10.41% return, which is significantly lower than RWR's 16.14% return.

DFGR

• 1D: 0.41%
• 1M: 0.41%
• YTD: 10.41%
• 6M: 10.83%
• 1Y: 11.18%
• 3Y*: 11.14%
• 5Y*: —
• 10Y*: —

RWR

• 1D: 1.31%
• 1M: 1.96%
• YTD: 16.14%
• 6M: 16.59%
• 1Y: 19.02%
• 3Y*: 13.63%
• 5Y*: 4.96%
• 10Y*: 5.51%

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

DFGR vs. RWR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFGR Dimensional Global Real Estate ETF	10.41%	7.65%	1.89%	9.64%	-1.20%
RWR SPDR Dow Jones REIT ETF	16.14%	3.20%	7.74%	13.76%	-2.06%

Correlation

The correlation between DFGR and RWR is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 7, 2022	0.96

The correlation between DFGR and RWR has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

DFGR vs. RWR — Risk / Return Rank

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

DFGR

DFGR Risk / Return Rank: 27
DFGR Sharpe Ratio Rank: 26
DFGR Sortino Ratio Rank: 25
DFGR Omega Ratio Rank: 25
DFGR Calmar Ratio Rank: 26
DFGR Martin Ratio Rank: 31

RWR

RWR Risk / Return Rank: 43
RWR Sharpe Ratio Rank: 41
RWR Sortino Ratio Rank: 38
RWR Omega Ratio Rank: 37
RWR Calmar Ratio Rank: 51
RWR Martin Ratio Rank: 50

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.

DFGR vs. RWR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Global Real Estate ETF (DFGR) and SPDR Dow Jones REIT ETF (RWR). 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.

	DFGR	RWR	Difference
Sharpe ratio: Return per unit of total volatility	0.92	1.37	-0.45
Sortino ratio: Return per unit of downside risk	1.32	1.89	-0.57
Omega ratio: Gain probability vs. loss probability	1.17	1.24	-0.07
Calmar ratio: Return relative to maximum drawdown	1.23	2.38	-1.15
Martin ratio: Return relative to average drawdown	4.32	8.03	-3.71

DFGR vs. RWR - Sharpe Ratio Comparison

The current DFGR Sharpe Ratio is 0.92, which is lower than the RWR Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of DFGR and RWR, 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

DFGR vs. RWR - Drawdown Comparison

The maximum DFGR drawdown since its inception was -21.28%, smaller than the maximum RWR drawdown of -74.92%. Use the drawdown chart below to compare losses from any high point for DFGR and RWR.

Drawdown Indicators

	DFGR	RWR	Difference
Max Drawdown Largest peak-to-trough decline	-21.28%	-74.92%	+53.64%
Max Drawdown (1Y) Largest decline over 1 year	-9.15%	-8.04%	-1.11%
Max Drawdown (3Y) Largest decline over 3 years	-17.57%	-18.85%	+1.28%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.58%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.39%	—
Current Drawdown Current decline from peak	-1.42%	-0.46%	-0.96%
Average Drawdown Average peak-to-trough decline	-6.22%	-13.08%	+6.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	2.38%	+0.21%

Volatility

DFGR vs. RWR - Volatility Comparison

The current volatility for Dimensional Global Real Estate ETF (DFGR) is 4.22%, while SPDR Dow Jones REIT ETF (RWR) has a volatility of 5.42%. This indicates that DFGR experiences smaller price fluctuations and is considered to be less risky than RWR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFGR	RWR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.22%	5.42%	-1.20%
Volatility (6M) Calculated over the trailing 6-month period	9.34%	10.37%	-1.03%
Volatility (1Y) Calculated over the trailing 1-year period	12.29%	14.05%	-1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.42%	19.05%	-3.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.42%	21.55%	-6.13%

DFGR vs. RWR - Expense Ratio Comparison

DFGR has a 0.22% expense ratio, which is lower than RWR's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DFGR vs. RWR - Dividend Comparison

DFGR's dividend yield for the trailing twelve months is around 3.85%, more than RWR's 3.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFGR Dimensional Global Real Estate ETF	3.85%	4.05%	3.73%	2.77%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RWR SPDR Dow Jones REIT ETF	3.36%	3.78%	3.76%	3.75%	3.81%	2.79%	3.73%	3.36%	4.19%	3.05%	4.39%	3.17%

Frequently Asked Questions

Can I hold both DFGR and RWR in my portfolio?

With a correlation of 0.93, DFGR and RWR 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, DFGR or RWR?

RWR has higher volatility (5.42%) compared to DFGR (4.22%). In terms of maximum drawdown, DFGR dropped -21.28% vs RWR's -74.92%.

Which ETF is better, DFGR or RWR?

On 3-year performance, RWR leads with 13.63% vs 11.14% for DFGR. On fees, DFGR is cheaper at 0.22% per year. On volatility, DFGR has been the lower-risk option at 4.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFGR or RWR?

Over the 3-year period, RWR has performed better with a 13.63% return vs 11.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFGR or RWR?

DFGR is cheaper with a 0.22% expense ratio, compared with 0.25% for RWR.

Which ETF pays a higher dividend yield, DFGR or RWR?

DFGR has the higher dividend yield at 3.85%, compared with 3.36% for RWR.

What is the main difference between DFGR and RWR?

They also come from different issuers: Dimensional and State Street. Their fees differ too: 0.22% for DFGR and 0.25% for RWR.

Which has better risk-adjusted returns?

RWR currently has the higher Sharpe Ratio (1.37 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.