O vs. XLRE
O (Realty Income Corporation) is a stock, while XLRE (Real Estate Select Sector SPDR Fund) is REIT fund tracking the Real Estate Select Sector Index. Over the past 10 years, O returned 4.89%/yr vs 7.15%/yr for XLRE. A 0.75 correlation means they provide meaningful diversification when combined.
Performance
O vs. XLRE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with O having a 13.70% return and XLRE slightly lower at 13.17%. Over the past 10 years, O has underperformed XLRE with an annualized return of 4.89%, while XLRE has yielded a comparatively higher 7.15% annualized return.
O
- 1D
- 1.31%
- 1M
- 1.67%
- YTD
- 13.70%
- 6M
- 11.57%
- 1Y
- 14.88%
- 3Y*
- 6.59%
- 5Y*
- 3.49%
- 10Y*
- 4.89%
XLRE
- 1D
- 0.98%
- 1M
- 3.30%
- YTD
- 13.17%
- 6M
- 13.29%
- 1Y
- 12.05%
- 3Y*
- 10.41%
- 5Y*
- 3.32%
- 10Y*
- 7.15%
O vs. XLRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
O Realty Income Corporation | 13.70% | 12.20% | -2.11% | -4.55% | -7.38% | 23.95% | -11.60% | 21.27% | 15.94% | 3.67% |
XLRE Real Estate Select Sector SPDR Fund | 13.17% | 2.63% | 5.09% | 12.36% | -26.25% | 46.10% | -2.18% | 28.68% | -2.39% | 10.69% |
Correlation
The correlation between O and XLRE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2015 | 0.75 |
The correlation between O and XLRE has been stable across timeframes, ranging from 0.66 to 0.76 - a consistent structural relationship.
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Return for Risk
O vs. XLRE — Risk / Return Rank
O
XLRE
O vs. XLRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Realty Income Corporation (O) and Real Estate Select Sector SPDR Fund (XLRE). 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.
| O | XLRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.15 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 1.34 | -0.05 |
| Martin ratioReturn relative to average drawdown | 3.12 | 3.69 | -0.58 |
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Drawdowns
O vs. XLRE - Drawdown Comparison
The maximum O drawdown since its inception was -48.45%, which is greater than XLRE's maximum drawdown of -38.83%. Use the drawdown chart below to compare losses from any high point for O and XLRE.
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Drawdown Indicators
| O | XLRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.45% | -38.83% | -9.62% |
Max Drawdown (1Y)Largest decline over 1 year | -11.10% | -8.33% | -2.77% |
Max Drawdown (3Y)Largest decline over 3 years | -26.49% | -16.74% | -9.75% |
Max Drawdown (5Y)Largest decline over 5 years | -34.48% | -34.12% | -0.36% |
Max Drawdown (10Y)Largest decline over 10 years | -48.28% | -38.83% | -9.45% |
Current DrawdownCurrent decline from peak | -5.94% | 0.00% | -5.94% |
Average DrawdownAverage peak-to-trough decline | -9.20% | -9.58% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 3.03% | +1.55% |
Volatility
O vs. XLRE - Volatility Comparison
Realty Income Corporation (O) has a higher volatility of 5.29% compared to Real Estate Select Sector SPDR Fund (XLRE) at 4.81%. This indicates that O's price experiences larger fluctuations and is considered to be riskier than XLRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| O | XLRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.29% | 4.81% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 11.98% | 10.20% | +1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.21% | 13.83% | +2.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 19.10% | -0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.64% | 20.42% | +5.22% |
Dividends
O vs. XLRE - Dividend Comparison
O's dividend yield for the trailing twelve months is around 5.16%, more than XLRE's 3.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
O Realty Income Corporation | 5.16% | 6.19% | 5.37% | 5.33% | 4.68% | 3.87% | 4.51% | 3.69% | 4.19% | 4.45% | 4.18% | 4.41% |
XLRE Real Estate Select Sector SPDR Fund | 3.08% | 3.45% | 3.43% | 3.31% | 3.70% | 2.61% | 3.15% | 3.06% | 3.78% | 3.25% | 4.22% | 1.09% |
Frequently Asked Questions
O and XLRE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
O has higher volatility (5.29%) compared to XLRE (4.81%). In terms of maximum drawdown, O dropped -48.45% vs XLRE's -38.83%.
O currently has the higher Sharpe Ratio (0.88 vs 0.81), 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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