PPTY vs. RWR
PPTY (US Diversified Real Estate ETF) and RWR (SPDR Dow Jones REIT ETF) are both REIT funds - PPTY tracks the USREX - U.S. Diversified Real Estate Index while RWR tracks the Dow Jones U.S. Select REIT Index. Both are passively managed. Over the past 5 years, PPTY returned 2.69%/yr vs 4.74%/yr for RWR. Their 0.97 correlation means they have historically moved very closely together. PPTY charges 0.49%/yr vs 0.25%/yr for RWR.
Performance
PPTY vs. RWR - Performance Comparison
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Returns By Period
In the year-to-date period, PPTY achieves a 16.67% return, which is significantly lower than RWR's 19.80% return.
PPTY
- 1D
- -0.59%
- 1M
- 0.11%
- 6M
- 14.60%
- YTD
- 16.67%
- 1Y
- 20.67%
- 3Y*
- 8.78%
- 5Y*
- 2.69%
- 10Y*
- —
- ALL TIME*
- 7.51%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $217.61K | $190.74K | $109.18K | |
| $43.72M | $37.86M | $34.73M |
PPTY vs. RWR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PPTY US Diversified Real Estate ETF | 16.67% | -3.47% | 9.85% | 12.66% | -26.10% | 40.36% | -7.25% | 30.19% | 4.86% |
RWR SPDR Dow Jones REIT ETF | 19.80% | 3.20% | 7.74% | 13.76% | -26.09% | 45.47% | -11.40% | 22.71% | 6.38% |
Correlation
The correlation between PPTY and RWR is 0.95 - 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. | 0.95 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2018 | 0.97 |
The correlation between PPTY and RWR has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
PPTY vs. RWR — Risk / Return Rank
PPTY
RWR
PPTY vs. RWR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Diversified Real Estate ETF (PPTY) 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.
| PPTY | RWR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.32 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 3.21 | -0.76 |
| Martin ratioReturn relative to average drawdown | 7.57 | 11.41 | -3.84 |
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Drawdowns
PPTY vs. RWR - Drawdown Comparison
The maximum PPTY drawdown since its inception was -41.69%, smaller than the maximum RWR drawdown of -74.92%. Use the drawdown chart below to compare losses from any high point for PPTY and RWR.
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Drawdown Indicators
| PPTY | RWR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.69% | -74.92% | +33.23% |
Max Drawdown (1Y)Largest decline over 1 year | -8.09% | -8.04% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -21.06% | -18.85% | -2.21% |
Max Drawdown (5Y)Largest decline over 5 years | -32.37% | -32.58% | +0.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.39% | — |
Current DrawdownCurrent decline from peak | -2.17% | -2.72% | +0.55% |
Average DrawdownAverage peak-to-trough decline | -11.14% | -13.03% | +1.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 2.26% | +0.35% |
Volatility
PPTY vs. RWR - Volatility Comparison
The current volatility for US Diversified Real Estate ETF (PPTY) is 4.35%, while SPDR Dow Jones REIT ETF (RWR) has a volatility of 4.99%. This indicates that PPTY 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
| PPTY | RWR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.35% | 4.99% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 10.37% | 10.99% | -0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.98% | 14.14% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.57% | 19.05% | -0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.82% | 21.57% | +0.25% |
PPTY vs. RWR - Expense Ratio Comparison
PPTY has a 0.49% expense ratio, which is higher than RWR's 0.25% expense ratio.
Dividends
PPTY vs. RWR - Dividend Comparison
PPTY's dividend yield for the trailing twelve months is around 2.46%, less than RWR's 3.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PPTY US Diversified Real Estate ETF | 2.46% | 3.04% | 3.29% | 4.08% | 4.29% | 2.87% | 3.43% | 3.30% | 1.97% | 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
With a correlation of 0.95, PPTY 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 (4.99%) compared to PPTY (4.35%). In terms of maximum drawdown, PPTY dropped -41.69% vs RWR's -74.92%.
On 5-year performance, RWR leads with 4.74% vs 2.69% for PPTY. On fees, RWR is cheaper at 0.25% per year. On volatility, PPTY has been the lower-risk option at 4.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, RWR has performed better with a 4.74% return vs 2.69%. 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 0.49% for PPTY.
RWR has the higher dividend yield at 3.26%, compared with 2.46% for PPTY.
PPTY tracks USREX - U.S. Diversified Real Estate Index, while RWR tracks Dow Jones U.S. Select REIT Index. They also come from different issuers: Vident and State Street. Their fees differ too: 0.49% for PPTY and 0.25% for RWR.
RWR currently has the higher Sharpe Ratio (1.84 vs 1.43), 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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