JRE vs. RWR

Last updated Aug 2, 2026

JRE (Janus Henderson U.S. Real Estate ETF) and RWR (SPDR Dow Jones REIT ETF) are both REIT funds. JRE is actively managed, while RWR is passively managed. Over the past 5 years, JRE returned 4.22%/yr vs 4.74%/yr for RWR. Their 0.97 correlation means they have historically moved very closely together. JRE charges 0.65%/yr vs 0.25%/yr for RWR.

Performance

JRE vs. RWR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson U.S. Real Estate ETF (JRE) 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, JRE achieves a 21.26% return, which is significantly higher than RWR's 19.80% return.

JRE

• 1D: -0.56%
• 1M: 1.57%
• 6M: 18.21%
• YTD: 21.26%
• 1Y: 25.57%
• 3Y*: 11.22%
• 5Y*: 4.22%
• 10Y*: —
• ALL TIME*: 5.28%

RWR

• 1D: -0.40%
• 1M: 0.66%
• 6M: 16.61%
• YTD: 19.80%
• 1Y: 26.30%
• 3Y*: 11.91%
• 5Y*: 4.74%
• 10Y*: 5.04%
• ALL TIME*: 8.88%

*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)
JRE Janus Henderson U.S. Real Estate ETF	$46.81K	$44.87K	$37.37K
RWR SPDR Dow Jones REIT ETF	$43.72M	$37.86M	$34.73M

JRE vs. RWR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JRE Janus Henderson U.S. Real Estate ETF	21.26%	2.97%	7.65%	8.79%	-23.47%	16.20%
RWR SPDR Dow Jones REIT ETF	19.80%	3.20%	7.74%	13.76%	-26.09%	17.14%

Correlation

The correlation between JRE and RWR is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.96
Correlation (3Y) Balances recent behavior with more history.	0.97
Correlation (5Y) Shows whether the relationship held over a longer period.	0.97
Correlation (All Time) Calculated using the full available price history since Jun 23, 2021	0.97

The correlation between JRE and RWR has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

JRE vs. RWR — Risk / Return Rank

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

JRE

JRE Risk / Return Rank: 83
JRE Sharpe Ratio Rank: 81
JRE Sortino Ratio Rank: 80
JRE Omega Ratio Rank: 79
JRE Calmar Ratio Rank: 88
JRE Martin Ratio Rank: 85

RWR

RWR Risk / Return Rank: 81
RWR Sharpe Ratio Rank: 80
RWR Sortino Ratio Rank: 79
RWR Omega Ratio Rank: 77
RWR Calmar Ratio Rank: 85
RWR Martin Ratio Rank: 84

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.

JRE vs. RWR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson U.S. Real Estate ETF (JRE) 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.

	JRE	RWR	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.84	+0.02
Sortino ratio: Return per unit of downside risk	2.59	2.56	+0.03
Omega ratio: Gain probability vs. loss probability	1.33	1.32	+0.01
Calmar ratio: Return relative to maximum drawdown	3.62	3.21	+0.40
Martin ratio: Return relative to average drawdown	11.81	11.41	+0.40

JRE vs. RWR - Sharpe Ratio Comparison

The current JRE Sharpe Ratio is 1.87, which is comparable to the RWR Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of JRE 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

JRE vs. RWR - Drawdown Comparison

The maximum JRE drawdown since its inception was -31.69%, smaller than the maximum RWR drawdown of -74.92%. Use the drawdown chart below to compare losses from any high point for JRE and RWR.

Drawdown Indicators

	JRE	RWR	Difference
Max Drawdown Largest peak-to-trough decline	-31.69%	-74.92%	+43.23%
Max Drawdown (1Y) Largest decline over 1 year	-7.14%	-8.04%	+0.90%
Max Drawdown (3Y) Largest decline over 3 years	-18.37%	-18.85%	+0.48%
Max Drawdown (5Y) Largest decline over 5 years	-31.69%	-32.58%	+0.89%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.39%	—
Current Drawdown Current decline from peak	-2.97%	-2.72%	-0.25%
Average Drawdown Average peak-to-trough decline	-12.26%	-13.03%	+0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	2.26%	-0.08%

Volatility

JRE vs. RWR - Volatility Comparison

Janus Henderson U.S. Real Estate ETF (JRE) and SPDR Dow Jones REIT ETF (RWR) have volatilities of 5.05% and 4.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JRE	RWR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.05%	4.99%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	11.02%	10.99%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	13.93%	14.14%	-0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.75%	19.05%	-0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.69%	21.57%	-2.88%

JRE vs. RWR - Expense Ratio Comparison

JRE has a 0.65% expense ratio, which is higher than RWR's 0.25% expense ratio.

Dividends

JRE vs. RWR - Dividend Comparison

JRE's dividend yield for the trailing twelve months is around 4.64%, more than RWR's 3.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JRE Janus Henderson U.S. Real Estate ETF	4.64%	5.81%	2.20%	2.77%	2.87%	0.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RWR SPDR Dow Jones REIT ETF	3.26%	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 JRE and RWR in my portfolio?

With a correlation of 0.96, JRE 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, JRE or RWR?

JRE has higher volatility (5.05%) compared to RWR (4.99%). In terms of maximum drawdown, JRE dropped -31.69% vs RWR's -74.92%.

Which ETF is better, JRE or RWR?

On 5-year performance, RWR leads with 4.74% vs 4.22% for JRE. On fees, RWR is cheaper at 0.25% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JRE or RWR?

Over the 5-year period, RWR has performed better with a 4.74% return vs 4.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JRE or RWR?

RWR is cheaper with a 0.25% expense ratio, compared with 0.65% for JRE.

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

JRE has the higher dividend yield at 4.64%, compared with 3.26% for RWR.

What is the main difference between JRE and RWR?

They also come from different issuers: Janus Henderson and State Street. Their fees differ too: 0.65% for JRE and 0.25% for RWR.

Which has better risk-adjusted returns?

JRE currently has the higher Sharpe Ratio (1.87 vs 1.84), 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.