REM vs. RWX
REM (iShares Mortgage Real Estate ETF) and RWX (SPDR DJ Wilshire International Real Estate ETF) are both REIT funds - REM tracks the FTSE NAREIT All Mortgage Capped Index while RWX tracks the Dow Jones Global ex-U.S. Real Estate Securities Index. Both are passively managed. Over the past 10 years, REM returned 2.86%/yr vs 0.79%/yr for RWX. A 0.53 correlation means they provide meaningful diversification when combined. REM charges 0.48%/yr vs 0.59%/yr for RWX.
Performance
REM vs. RWX - Performance Comparison
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Returns By Period
In the year-to-date period, REM achieves a -0.15% return, which is significantly higher than RWX's -4.24% return. Over the past 10 years, REM has outperformed RWX with an annualized return of 2.86%, while RWX has yielded a comparatively lower 0.79% annualized return.
REM
- 1D
- 0.94%
- 1M
- 1.19%
- YTD
- -0.15%
- 6M
- 0.03%
- 1Y
- 11.49%
- 3Y*
- 8.08%
- 5Y*
- -2.46%
- 10Y*
- 2.86%
RWX
- 1D
- -0.42%
- 1M
- -2.81%
- YTD
- -4.24%
- 6M
- -3.90%
- 1Y
- 1.35%
- 3Y*
- 6.38%
- 5Y*
- -2.78%
- 10Y*
- 0.79%
REM vs. RWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REM iShares Mortgage Real Estate ETF | -0.15% | 13.30% | -1.00% | 14.43% | -27.56% | 16.14% | -19.99% | 21.34% | -3.09% | 18.43% |
RWX SPDR DJ Wilshire International Real Estate ETF | -4.24% | 26.24% | -12.15% | 6.25% | -21.84% | 9.34% | -9.03% | 19.88% | -8.25% | 15.50% |
Correlation
The correlation between REM and RWX is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since May 4, 2007 | 0.53 |
The correlation between REM and RWX has been stable across timeframes, ranging from 0.53 to 0.60 - a consistent structural relationship.
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Return for Risk
REM vs. RWX — Risk / Return Rank
REM
RWX
REM vs. RWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Mortgage Real Estate ETF (REM) and SPDR DJ Wilshire International Real Estate ETF (RWX). 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.
| REM | RWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.03 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.81 | 0.10 | +0.71 |
| Martin ratioReturn relative to average drawdown | 2.18 | 0.26 | +1.91 |
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Drawdowns
REM vs. RWX - Drawdown Comparison
The maximum REM drawdown since its inception was -74.73%, roughly equal to the maximum RWX drawdown of -73.62%. Use the drawdown chart below to compare losses from any high point for REM and RWX.
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Drawdown Indicators
| REM | RWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.73% | -73.62% | -1.11% |
Max Drawdown (1Y)Largest decline over 1 year | -14.25% | -13.58% | -0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -21.91% | -19.05% | -2.86% |
Max Drawdown (5Y)Largest decline over 5 years | -43.31% | -35.91% | -7.40% |
Max Drawdown (10Y)Largest decline over 10 years | -68.52% | -43.37% | -25.15% |
Current DrawdownCurrent decline from peak | -22.34% | -15.55% | -6.79% |
Average DrawdownAverage peak-to-trough decline | -38.30% | -20.28% | -18.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.29% | 5.16% | +0.13% |
Volatility
REM vs. RWX - Volatility Comparison
iShares Mortgage Real Estate ETF (REM) has a higher volatility of 4.80% compared to SPDR DJ Wilshire International Real Estate ETF (RWX) at 4.02%. This indicates that REM's price experiences larger fluctuations and is considered to be riskier than RWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REM | RWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 4.02% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 13.38% | 11.25% | +2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.01% | 13.56% | +3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.57% | 15.85% | +7.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.31% | 16.32% | +11.99% |
REM vs. RWX - Expense Ratio Comparison
REM has a 0.48% expense ratio, which is lower than RWX's 0.59% expense ratio.
Dividends
REM vs. RWX - Dividend Comparison
REM's dividend yield for the trailing twelve months is around 9.02%, more than RWX's 4.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
REM iShares Mortgage Real Estate ETF | 9.02% | 8.70% | 9.61% | 9.46% | 11.13% | 7.29% | 7.72% | 8.16% | 10.00% | 9.97% | 10.03% | 11.99% |
RWX SPDR DJ Wilshire International Real Estate ETF | 4.09% | 3.65% | 4.32% | 3.90% | 4.05% | 4.62% | 2.92% | 8.94% | 5.28% | 2.77% | 8.74% | 2.94% |
Frequently Asked Questions
REM and RWX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REM has higher volatility (4.80%) compared to RWX (4.02%). In terms of maximum drawdown, REM dropped -74.73% vs RWX's -73.62%.
On 10-year performance, REM leads with 2.86% vs 0.79% for RWX. On fees, REM is cheaper at 0.48% per year. On volatility, RWX has been the lower-risk option at 4.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, REM has performed better with a 2.86% return vs 0.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
REM is cheaper with a 0.48% expense ratio, compared with 0.59% for RWX.
REM has the higher dividend yield at 9.02%, compared with 4.09% for RWX.
REM tracks FTSE NAREIT All Mortgage Capped Index, while RWX tracks Dow Jones Global ex-U.S. Real Estate Securities Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.48% for REM and 0.59% for RWX.
REM currently has the higher Sharpe Ratio (0.68 vs 0.10), 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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