EEMV vs. RWO
EEMV (iShares MSCI Emerging Markets Min Vol Factor ETF) and RWO (SPDR Dow Jones Global Real Estate ETF) are both exchange-traded funds - EEMV is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Minimum Volatility Index, while RWO is a REIT fund tracking the Dow Jones Global Select Real Estate Securities Index. Both are passively managed. Over the past 10 years, EEMV returned 5.61%/yr vs 3.52%/yr for RWO. A 0.56 correlation means they provide meaningful diversification when combined. EEMV charges 0.25%/yr vs 0.50%/yr for RWO.
Performance
EEMV vs. RWO - Performance Comparison
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Returns By Period
In the year-to-date period, EEMV achieves a 11.64% return, which is significantly lower than RWO's 15.38% return. Over the past 10 years, EEMV has outperformed RWO with an annualized return of 5.61%, while RWO has yielded a comparatively lower 3.52% annualized return.
EEMV
- 1D
- -0.08%
- 1M
- -7.54%
- 6M
- 8.10%
- YTD
- 11.64%
- 1Y
- 15.38%
- 3Y*
- 11.47%
- 5Y*
- 5.12%
- 10Y*
- 5.61%
- ALL TIME*
- 5.18%
RWO
- 1D
- -0.58%
- 1M
- 5.52%
- 6M
- 10.45%
- YTD
- 15.38%
- 1Y
- 20.37%
- 3Y*
- 9.96%
- 5Y*
- 2.73%
- 10Y*
- 3.52%
- ALL TIME*
- 4.10%
EEMV vs. RWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF | 11.64% | 13.45% | 7.98% | 7.75% | -13.94% | 5.05% | 6.90% | 7.83% | -5.81% | 27.28% |
RWO SPDR Dow Jones Global Real Estate ETF | 15.38% | 8.87% | 1.76% | 10.91% | -25.11% | 31.03% | -10.44% | 21.17% | -6.04% | 7.80% |
Correlation
The correlation between EEMV and RWO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011 | 0.56 |
Over the past year, the correlation between EEMV and RWO has dropped to 0.28 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.
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Return for Risk
EEMV vs. RWO — Risk / Return Rank
EEMV
RWO
EEMV vs. RWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) and SPDR Dow Jones Global Real Estate ETF (RWO). 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.
| EEMV | RWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.27 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 2.15 | -0.48 |
| Martin ratioReturn relative to average drawdown | 5.34 | 8.31 | -2.97 |
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Drawdowns
EEMV vs. RWO - Drawdown Comparison
The maximum EEMV drawdown since its inception was -31.56%, smaller than the maximum RWO drawdown of -67.69%. Use the drawdown chart below to compare losses from any high point for EEMV and RWO.
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Drawdown Indicators
| EEMV | RWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.56% | -67.69% | +36.13% |
Max Drawdown (1Y)Largest decline over 1 year | -9.22% | -9.51% | +0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -12.47% | -17.66% | +5.19% |
Max Drawdown (5Y)Largest decline over 5 years | -21.90% | -32.85% | +10.95% |
Max Drawdown (10Y)Largest decline over 10 years | -31.56% | -43.27% | +11.71% |
Current DrawdownCurrent decline from peak | -7.88% | -0.58% | -7.30% |
Average DrawdownAverage peak-to-trough decline | -7.94% | -12.60% | +4.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 2.46% | +0.43% |
Volatility
EEMV vs. RWO - Volatility Comparison
iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) has a higher volatility of 6.62% compared to SPDR Dow Jones Global Real Estate ETF (RWO) at 4.00%. This indicates that EEMV's price experiences larger fluctuations and is considered to be riskier than RWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EEMV | RWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.62% | 4.00% | +2.62% |
Volatility (6M)Calculated over the trailing 6-month period | 14.93% | 10.41% | +4.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.97% | 13.26% | +2.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.51% | 17.04% | -4.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.00% | 18.21% | -4.21% |
EEMV vs. RWO - Expense Ratio Comparison
EEMV has a 0.25% expense ratio, which is lower than RWO's 0.50% expense ratio.
Dividends
EEMV vs. RWO - Dividend Comparison
EEMV's dividend yield for the trailing twelve months is around 2.29%, less than RWO's 3.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF | 2.29% | 2.65% | 3.50% | 2.75% | 1.93% | 2.14% | 2.45% | 2.63% | 2.46% | 2.34% | 2.79% | 2.55% |
RWO SPDR Dow Jones Global Real Estate ETF | 3.13% | 3.62% | 3.68% | 3.53% | 3.69% | 2.79% | 3.25% | 3.97% | 3.90% | 3.26% | 3.77% | 2.97% |
Frequently Asked Questions
EEMV and RWO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EEMV has higher volatility (6.62%) compared to RWO (4.00%). In terms of maximum drawdown, EEMV dropped -31.56% vs RWO's -67.69%.
On 10-year performance, EEMV leads with 5.61% vs 3.52% for RWO. On fees, EEMV is cheaper at 0.25% per year. On volatility, RWO has been the lower-risk option at 4.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EEMV has performed better with a 5.61% return vs 3.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EEMV is cheaper with a 0.25% expense ratio, compared with 0.50% for RWO.
RWO has the higher dividend yield at 3.13%, compared with 2.29% for EEMV.
EEMV is categorized as Emerging Markets Equities, while RWO is REIT. EEMV tracks MSCI Emerging Markets Minimum Volatility Index, while RWO tracks Dow Jones Global Select Real Estate Securities Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.25% for EEMV and 0.50% for RWO.
RWO currently has the higher Sharpe Ratio (1.55 vs 0.97), 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.
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