RWO vs. ISCMF
RWO (SPDR Dow Jones Global Real Estate ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - RWO is a REIT fund tracking the Dow Jones Global Select Real Estate Securities Index, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past 3 years, RWO returned 11.49%/yr vs 16.78%/yr for ISCMF. At a correlation of -0.03, they often move in opposite directions. RWO charges 0.50%/yr vs 0.19%/yr for ISCMF.
Performance
RWO vs. ISCMF - Performance Comparison
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Returns By Period
In the year-to-date period, RWO achieves a 10.38% return, which is significantly lower than ISCMF's 22.87% return.
RWO
- 1D
- 0.94%
- 1M
- -0.20%
- YTD
- 10.38%
- 6M
- 10.62%
- 1Y
- 15.08%
- 3Y*
- 11.49%
- 5Y*
- 2.33%
- 10Y*
- 3.78%
ISCMF
- 1D
- 0.00%
- 1M
- -4.99%
- YTD
- 22.87%
- 6M
- 22.87%
- 1Y
- 31.30%
- 3Y*
- 16.78%
- 5Y*
- —
- 10Y*
- —
RWO vs. ISCMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
RWO SPDR Dow Jones Global Real Estate ETF | 10.38% | 8.87% | 1.76% | 10.91% | -19.35% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 22.87% | 19.65% | 3.13% | -9.58% | -5.82% |
Correlation
The correlation between RWO and ISCMF is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | -0.03 |
The correlation between RWO and ISCMF shifts across timeframes, from -0.13 (1 year) to -0.02 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
RWO vs. ISCMF — Risk / Return Rank
RWO
ISCMF
RWO vs. ISCMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones Global Real Estate ETF (RWO) and iShares Diversified Commodity Swap UCITS ETF (ISCMF). 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.
| RWO | ISCMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 2.31 | -1.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 5.53 | -3.94 |
| Martin ratioReturn relative to average drawdown | 6.11 | 11.95 | -5.83 |
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Drawdowns
RWO vs. ISCMF - Drawdown Comparison
The maximum RWO drawdown since its inception was -67.69%, which is greater than ISCMF's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for RWO and ISCMF.
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Drawdown Indicators
| RWO | ISCMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.69% | -25.42% | -42.27% |
Max Drawdown (1Y)Largest decline over 1 year | -9.51% | -5.69% | -3.82% |
Max Drawdown (3Y)Largest decline over 3 years | -17.66% | -7.62% | -10.04% |
Max Drawdown (5Y)Largest decline over 5 years | -32.85% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.27% | — | — |
Current DrawdownCurrent decline from peak | -1.73% | -5.26% | +3.53% |
Average DrawdownAverage peak-to-trough decline | -12.65% | -13.36% | +0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 2.63% | -0.16% |
Volatility
RWO vs. ISCMF - Volatility Comparison
The current volatility for SPDR Dow Jones Global Real Estate ETF (RWO) is 4.50%, while iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a volatility of 5.11%. This indicates that RWO experiences smaller price fluctuations and is considered to be less risky than ISCMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RWO | ISCMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.50% | 5.11% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 9.86% | 15.45% | -5.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.14% | 17.87% | -4.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.06% | 14.29% | +2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.24% | 14.29% | +3.95% |
RWO vs. ISCMF - Expense Ratio Comparison
RWO has a 0.50% expense ratio, which is higher than ISCMF's 0.19% expense ratio.
Dividends
RWO vs. ISCMF - Dividend Comparison
RWO's dividend yield for the trailing twelve months is around 4.20%, while ISCMF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISCMF iShares Diversified Commodity Swap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RWO SPDR Dow Jones Global Real Estate ETF | 4.20% | 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
RWO and ISCMF have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISCMF has higher volatility (5.11%) compared to RWO (4.50%). In terms of maximum drawdown, RWO dropped -67.69% vs ISCMF's -25.42%.
On 3-year performance, ISCMF leads with 16.78% vs 11.49% for RWO. On fees, ISCMF is cheaper at 0.19% per year. On volatility, RWO has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ISCMF has performed better with a 16.78% return vs 11.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISCMF is cheaper with a 0.19% expense ratio, compared with 0.50% for RWO.
RWO has the higher dividend yield at 4.20%, compared with 0.00% for ISCMF.
RWO is categorized as REIT, while ISCMF is Commodities. RWO tracks Dow Jones Global Select Real Estate Securities Index, while ISCMF tracks Bloomberg Commodity Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.50% for RWO and 0.19% for ISCMF.
ISCMF currently has the higher Sharpe Ratio (1.76 vs 1.16), 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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