RWO vs. PFFR
RWO (SPDR Dow Jones Global Real Estate ETF) and PFFR (InfraCap REIT Preferred ETF) are both exchange-traded funds - RWO is a REIT fund tracking the Dow Jones Global Select Real Estate Securities Index, while PFFR is a Preferred Stock/Convertible Bonds fund tracking the Indxx REIT Preferred Stock Index. Both are passively managed. Over the past 5 years, RWO returned 2.53%/yr vs 0.99%/yr for PFFR. At a 0.41 correlation, their price movements are largely independent. RWO charges 0.50%/yr vs 0.45%/yr for PFFR.
Performance
RWO vs. PFFR - Performance Comparison
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Returns By Period
In the year-to-date period, RWO achieves a 11.44% return, which is significantly higher than PFFR's 1.56% return.
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%
PFFR
- 1D
- -0.54%
- 1M
- 1.00%
- YTD
- 1.56%
- 6M
- 1.11%
- 1Y
- 6.55%
- 3Y*
- 9.29%
- 5Y*
- 0.99%
- 10Y*
- —
RWO vs. PFFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 7.52% |
PFFR InfraCap REIT Preferred ETF | 1.56% | 5.36% | 7.12% | 21.04% | -23.90% | 6.76% | 0.19% | 20.28% | -7.45% | 7.82% |
Correlation
The correlation between RWO and PFFR is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2017 | 0.41 |
The correlation between RWO and PFFR shifts across timeframes, from 0.30 (1 year) to 0.42 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
RWO vs. PFFR — Risk / Return Rank
RWO
PFFR
RWO vs. PFFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones Global Real Estate ETF (RWO) and InfraCap REIT Preferred ETF (PFFR). 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 | PFFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.15 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 1.00 | +0.57 |
| Martin ratioReturn relative to average drawdown | 6.03 | 2.30 | +3.73 |
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Drawdowns
RWO vs. PFFR - Drawdown Comparison
The maximum RWO drawdown since its inception was -67.69%, which is greater than PFFR's maximum drawdown of -53.02%. Use the drawdown chart below to compare losses from any high point for RWO and PFFR.
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Drawdown Indicators
| RWO | PFFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.69% | -53.02% | -14.67% |
Max Drawdown (1Y)Largest decline over 1 year | -9.51% | -6.57% | -2.94% |
Max Drawdown (3Y)Largest decline over 3 years | -17.66% | -11.16% | -6.50% |
Max Drawdown (5Y)Largest decline over 5 years | -32.85% | -29.80% | -3.05% |
Max Drawdown (10Y)Largest decline over 10 years | -43.27% | — | — |
Current DrawdownCurrent decline from peak | -0.78% | -2.32% | +1.54% |
Average DrawdownAverage peak-to-trough decline | -12.64% | -6.97% | -5.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 2.85% | -0.38% |
Volatility
RWO vs. PFFR - Volatility Comparison
SPDR Dow Jones Global Real Estate ETF (RWO) has a higher volatility of 4.59% compared to InfraCap REIT Preferred ETF (PFFR) at 2.10%. This indicates that RWO's price experiences larger fluctuations and is considered to be riskier than PFFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RWO | PFFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.59% | 2.10% | +2.49% |
Volatility (6M)Calculated over the trailing 6-month period | 9.89% | 6.05% | +3.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.14% | 7.82% | +5.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.06% | 10.48% | +6.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.21% | 20.48% | -2.27% |
RWO vs. PFFR - Expense Ratio Comparison
RWO has a 0.50% expense ratio, which is higher than PFFR's 0.45% expense ratio.
Dividends
RWO vs. PFFR - Dividend Comparison
RWO's dividend yield for the trailing twelve months is around 3.24%, less than PFFR's 8.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFFR InfraCap REIT Preferred ETF | 8.30% | 7.99% | 7.78% | 7.72% | 8.60% | 6.08% | 6.11% | 5.77% | 6.48% | 6.59% | 0.00% | 0.00% |
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
RWO and PFFR have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RWO has higher volatility (4.59%) compared to PFFR (2.10%). In terms of maximum drawdown, RWO dropped -67.69% vs PFFR's -53.02%.
On 5-year performance, RWO leads with 2.53% vs 0.99% for PFFR. On fees, PFFR is cheaper at 0.45% per year. On volatility, PFFR has been the lower-risk option at 2.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, RWO has performed better with a 2.53% return vs 0.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFFR is cheaper with a 0.45% expense ratio, compared with 0.50% for RWO.
PFFR has the higher dividend yield at 8.30%, compared with 3.24% for RWO.
RWO is categorized as REIT, while PFFR is Preferred Stock/Convertible Bonds. RWO tracks Dow Jones Global Select Real Estate Securities Index, while PFFR tracks Indxx REIT Preferred Stock Index. They also come from different issuers: State Street and Virtus Investment Partners. Their fees differ too: 0.50% for RWO and 0.45% for PFFR.
RWO currently has the higher Sharpe Ratio (1.14 vs 0.84), 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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