GQRE vs. RWR
GQRE (FlexShares Global Quality Real Estate Index Fund) and RWR (SPDR Dow Jones REIT ETF) are both REIT funds - GQRE tracks the Northern Trust Global Quality Real Estate (NR) while RWR tracks the Dow Jones U.S. Select REIT Index. Both are passively managed. Over the past 10 years, GQRE returned 4.10%/yr vs 5.51%/yr for RWR. Their correlation of 0.88 suggests significant overlap in exposure. GQRE charges 0.45%/yr vs 0.25%/yr for RWR.
Performance
GQRE vs. RWR - Performance Comparison
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Returns By Period
In the year-to-date period, GQRE achieves a 9.32% return, which is significantly lower than RWR's 16.14% return. Over the past 10 years, GQRE has underperformed RWR with an annualized return of 4.10%, while RWR has yielded a comparatively higher 5.51% annualized return.
GQRE
- 1D
- 0.69%
- 1M
- -0.17%
- YTD
- 9.32%
- 6M
- 9.88%
- 1Y
- 11.39%
- 3Y*
- 11.94%
- 5Y*
- 2.35%
- 10Y*
- 4.10%
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%
GQRE vs. RWR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GQRE FlexShares Global Quality Real Estate Index Fund | 9.32% | 8.27% | 6.09% | 9.21% | -27.22% | 32.01% | -9.17% | 21.84% | -8.88% | 13.60% |
RWR SPDR Dow Jones REIT ETF | 16.14% | 3.20% | 7.74% | 13.76% | -26.09% | 45.47% | -11.40% | 22.71% | -4.47% | 3.47% |
Correlation
The correlation between GQRE and RWR is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2013 | 0.88 |
The correlation between GQRE and RWR has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
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Return for Risk
GQRE vs. RWR — Risk / Return Rank
GQRE
RWR
GQRE vs. RWR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Global Quality Real Estate Index Fund (GQRE) 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.
| GQRE | RWR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.24 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 2.38 | -1.25 |
| Martin ratioReturn relative to average drawdown | 4.24 | 8.03 | -3.79 |
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Drawdowns
GQRE vs. RWR - Drawdown Comparison
The maximum GQRE drawdown since its inception was -41.87%, smaller than the maximum RWR drawdown of -74.92%. Use the drawdown chart below to compare losses from any high point for GQRE and RWR.
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Drawdown Indicators
| GQRE | RWR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.87% | -74.92% | +33.05% |
Max Drawdown (1Y)Largest decline over 1 year | -10.15% | -8.04% | -2.11% |
Max Drawdown (3Y)Largest decline over 3 years | -16.17% | -18.85% | +2.68% |
Max Drawdown (5Y)Largest decline over 5 years | -35.08% | -32.58% | -2.50% |
Max Drawdown (10Y)Largest decline over 10 years | -41.87% | -44.39% | +2.52% |
Current DrawdownCurrent decline from peak | -1.64% | -0.46% | -1.18% |
Average DrawdownAverage peak-to-trough decline | -9.20% | -13.08% | +3.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.70% | 2.38% | +0.32% |
Volatility
GQRE vs. RWR - Volatility Comparison
The current volatility for FlexShares Global Quality Real Estate Index Fund (GQRE) is 3.69%, while SPDR Dow Jones REIT ETF (RWR) has a volatility of 5.42%. This indicates that GQRE 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.
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Volatility by Period
| GQRE | RWR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.69% | 5.42% | -1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 9.20% | 10.37% | -1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.91% | 14.05% | -2.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.46% | 19.05% | -2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.65% | 21.55% | -3.90% |
GQRE vs. RWR - Expense Ratio Comparison
GQRE has a 0.45% expense ratio, which is higher than RWR's 0.25% expense ratio.
Dividends
GQRE vs. RWR - Dividend Comparison
GQRE's dividend yield for the trailing twelve months is around 4.29%, more than RWR's 3.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GQRE FlexShares Global Quality Real Estate Index Fund | 4.29% | 4.75% | 3.77% | 2.91% | 2.56% | 2.36% | 2.05% | 4.29% | 3.22% | 1.97% | 4.16% | 2.32% |
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
With a correlation of 0.90, GQRE 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.
RWR has higher volatility (5.42%) compared to GQRE (3.69%). In terms of maximum drawdown, GQRE dropped -41.87% vs RWR's -74.92%.
On 10-year performance, RWR leads with 5.51% vs 4.10% for GQRE. On fees, RWR is cheaper at 0.25% per year. On volatility, GQRE has been the lower-risk option at 3.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RWR has performed better with a 5.51% return vs 4.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RWR is cheaper with a 0.25% expense ratio, compared with 0.45% for GQRE.
GQRE has the higher dividend yield at 4.29%, compared with 3.36% for RWR.
GQRE tracks Northern Trust Global Quality Real Estate (NR), while RWR tracks Dow Jones U.S. Select REIT Index. They also come from different issuers: Northern Trust and State Street. Their fees differ too: 0.45% for GQRE and 0.25% for RWR.
RWR currently has the higher Sharpe Ratio (1.37 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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