IVRA vs. RWO
IVRA (Invesco Real Assets ESG ETF) and RWO (SPDR Dow Jones Global Real Estate ETF) are both exchange-traded funds - IVRA is a ESG fund actively managed by Invesco, while RWO is a REIT fund tracking the Dow Jones Global Select Real Estate Securities Index. IVRA is actively managed, while RWO is passively managed. Over the past 5 years, IVRA returned 7.62%/yr vs 2.52%/yr for RWO. Their correlation of 0.83 suggests significant overlap in exposure. IVRA charges 0.59%/yr vs 0.50%/yr for RWO.
Performance
IVRA vs. RWO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IVRA having a 11.70% return and RWO slightly higher at 11.91%.
IVRA
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 11.70%
- 6M
- 11.36%
- 1Y
- 14.88%
- 3Y*
- 15.44%
- 5Y*
- 7.62%
- 10Y*
- —
RWO
- 1D
- 0.42%
- 1M
- 1.19%
- YTD
- 11.91%
- 6M
- 11.02%
- 1Y
- 15.03%
- 3Y*
- 12.01%
- 5Y*
- 2.52%
- 10Y*
- 3.93%
IVRA vs. RWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IVRA Invesco Real Assets ESG ETF | 11.70% | 10.20% | 13.07% | 9.13% | -10.00% | 32.74% | 1.28% |
RWO SPDR Dow Jones Global Real Estate ETF | 11.91% | 8.87% | 1.76% | 10.91% | -25.11% | 31.03% | 3.13% |
Correlation
The correlation between IVRA and RWO is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2020 | 0.83 |
Over the past year, the correlation between IVRA and RWO has dropped to 0.60 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.
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Return for Risk
IVRA vs. RWO — Risk / Return Rank
IVRA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
RWO
IVRA vs. RWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Real Assets ESG ETF (IVRA) 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.
| IVRA | RWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.20 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.57 | 1.59 | +1.98 |
| Martin ratioReturn relative to average drawdown | 12.38 | 6.13 | +6.25 |
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Drawdowns
IVRA vs. RWO - Drawdown Comparison
The maximum IVRA drawdown since its inception was -25.99%, smaller than the maximum RWO drawdown of -67.69%. Use the drawdown chart below to compare losses from any high point for IVRA and RWO.
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Drawdown Indicators
| IVRA | RWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.99% | -67.69% | +41.70% |
Max Drawdown (1Y)Largest decline over 1 year | -4.60% | -9.51% | +4.91% |
Max Drawdown (3Y)Largest decline over 3 years | -15.03% | -17.66% | +2.63% |
Max Drawdown (5Y)Largest decline over 5 years | -25.99% | -32.85% | +6.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.27% | — |
Current DrawdownCurrent decline from peak | -0.92% | -0.36% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -7.25% | -12.64% | +5.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 2.47% | -1.15% |
Volatility
IVRA vs. RWO - Volatility Comparison
The current volatility for Invesco Real Assets ESG ETF (IVRA) is 0.00%, while SPDR Dow Jones Global Real Estate ETF (RWO) has a volatility of 4.61%. This indicates that IVRA experiences smaller price fluctuations and is considered to be less risky 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
| IVRA | RWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 4.61% | -4.61% |
Volatility (6M)Calculated over the trailing 6-month period | 5.37% | 9.88% | -4.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.26% | 13.10% | -3.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.58% | 17.07% | -0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.37% | 18.20% | -1.83% |
IVRA vs. RWO - Expense Ratio Comparison
IVRA has a 0.59% expense ratio, which is higher than RWO's 0.50% expense ratio.
Dividends
IVRA vs. RWO - Dividend Comparison
IVRA has not paid dividends to shareholders, while RWO's dividend yield for the trailing twelve months is around 3.23%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVRA Invesco Real Assets ESG ETF | 16.80% | 5.68% | 3.71% | 2.47% | 2.30% | 3.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RWO SPDR Dow Jones Global Real Estate ETF | 3.23% | 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
IVRA and RWO have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RWO has higher volatility (4.61%) compared to IVRA (0.00%). In terms of maximum drawdown, IVRA dropped -25.99% vs RWO's -67.69%.
On 5-year performance, IVRA leads with 7.62% vs 2.52% for RWO. On fees, RWO is cheaper at 0.50% per year. On volatility, IVRA has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IVRA has performed better with a 7.62% return vs 2.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RWO is cheaper with a 0.50% expense ratio, compared with 0.59% for IVRA.
IVRA has the higher dividend yield at 16.80%, compared with 3.23% for RWO.
IVRA is categorized as ESG, while RWO is REIT. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.59% for IVRA and 0.50% for RWO.
IVRA currently has the higher Sharpe Ratio (1.77 vs 1.15), 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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