REET vs. RWO
REET (iShares Global REIT ETF) and RWO (SPDR Dow Jones Global Real Estate ETF) are both REIT funds - REET tracks the FTSE EPRA/NAREIT Global REIT Index while RWO tracks the Dow Jones Global Select Real Estate Securities Index. Both are passively managed. Over the past 10 years, REET returned 4.37%/yr vs 3.88%/yr for RWO. With a 0.97 correlation, they move nearly in lockstep. REET charges 0.14%/yr vs 0.50%/yr for RWO.
Performance
REET vs. RWO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with REET having a 11.67% return and RWO slightly lower at 11.44%. Over the past 10 years, REET has outperformed RWO with an annualized return of 4.37%, while RWO has yielded a comparatively lower 3.88% annualized return.
REET
- 1D
- 0.77%
- 1M
- 1.11%
- YTD
- 11.67%
- 6M
- 12.03%
- 1Y
- 14.10%
- 3Y*
- 11.63%
- 5Y*
- 2.85%
- 10Y*
- 4.37%
RWO
- 1D
- 0.96%
- 1M
- 0.76%
- YTD
- 11.44%
- 6M
- 11.34%
- 1Y
- 14.87%
- 3Y*
- 11.85%
- 5Y*
- 2.53%
- 10Y*
- 3.88%
REET vs. RWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REET iShares Global REIT ETF | 11.67% | 7.97% | 2.65% | 10.28% | -24.10% | 32.43% | -10.48% | 24.42% | -5.27% | 7.48% |
RWO SPDR Dow Jones Global Real Estate ETF | 11.44% | 8.87% | 1.76% | 10.91% | -25.11% | 31.03% | -10.44% | 21.17% | -6.04% | 7.80% |
Correlation
The correlation between REET and RWO is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2014 | 0.97 |
The correlation between REET and RWO has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
REET vs. RWO — Risk / Return Rank
REET
RWO
REET vs. RWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global REIT ETF (REET) 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.
| REET | RWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.20 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 1.57 | 0.00 |
| Martin ratioReturn relative to average drawdown | 5.60 | 6.03 | -0.43 |
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Drawdowns
REET vs. RWO - Drawdown Comparison
The maximum REET drawdown since its inception was -44.59%, smaller than the maximum RWO drawdown of -67.69%. Use the drawdown chart below to compare losses from any high point for REET and RWO.
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Drawdown Indicators
| REET | RWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.59% | -67.69% | +23.10% |
Max Drawdown (1Y)Largest decline over 1 year | -9.04% | -9.51% | +0.47% |
Max Drawdown (3Y)Largest decline over 3 years | -18.02% | -17.66% | -0.36% |
Max Drawdown (5Y)Largest decline over 5 years | -32.11% | -32.85% | +0.74% |
Max Drawdown (10Y)Largest decline over 10 years | -44.59% | -43.27% | -1.32% |
Current DrawdownCurrent decline from peak | -0.66% | -0.78% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -9.75% | -12.64% | +2.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 2.47% | +0.05% |
Volatility
REET vs. RWO - Volatility Comparison
The current volatility for iShares Global REIT ETF (REET) is 4.36%, while SPDR Dow Jones Global Real Estate ETF (RWO) has a volatility of 4.59%. This indicates that REET 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
| REET | RWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.36% | 4.59% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 9.39% | 9.89% | -0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.52% | 13.14% | -0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.97% | 17.06% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.85% | 18.21% | +0.64% |
REET vs. RWO - Expense Ratio Comparison
REET has a 0.14% expense ratio, which is lower than RWO's 0.50% expense ratio.
Dividends
REET vs. RWO - Dividend Comparison
REET's dividend yield for the trailing twelve months is around 3.37%, more than RWO's 3.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
REET iShares Global REIT ETF | 3.37% | 3.67% | 3.64% | 3.27% | 2.43% | 3.18% | 2.65% | 5.25% | 5.73% | 3.84% | 5.37% | 3.56% |
RWO SPDR Dow Jones Global Real Estate ETF | 3.24% | 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
With a correlation of 0.96, REET and RWO 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.
RWO has higher volatility (4.59%) compared to REET (4.36%). In terms of maximum drawdown, REET dropped -44.59% vs RWO's -67.69%.
On 10-year performance, REET leads with 4.37% vs 3.88% for RWO. On fees, REET is cheaper at 0.14% per year. On volatility, REET has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, REET has performed better with a 4.37% return vs 3.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
REET is cheaper with a 0.14% expense ratio, compared with 0.50% for RWO.
REET has the higher dividend yield at 3.37%, compared with 3.24% for RWO.
REET tracks FTSE EPRA/NAREIT Global REIT Index, while RWO tracks Dow Jones Global Select Real Estate Securities Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.14% for REET and 0.50% for RWO.
RWO currently has the higher Sharpe Ratio (1.14 vs 1.14), 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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