RWO vs. PINE

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR Dow Jones Global Real Estate ETF (RWO) and Alpine Income Property Trust, Inc. (PINE).

RWO is a passively managed fund by State Street that tracks the performance of the Dow Jones Global Select Real Estate Securities Index. It was launched on May 13, 2008.

Performance

RWO vs. PINE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Dow Jones Global Real Estate ETF (RWO) and Alpine Income Property Trust, Inc. (PINE). The values are adjusted to include any dividend payments, if applicable.

RWO vs. PINE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
RWO SPDR Dow Jones Global Real Estate ETF	3.40%	8.87%	1.76%	10.91%	-25.11%	31.03%	-10.44%	1.54%
PINE Alpine Income Property Trust, Inc.	10.22%	6.97%	6.13%	-5.46%	0.95%	41.19%	-15.69%	0.47%

Returns By Period

In the year-to-date period, RWO achieves a 3.40% return, which is significantly lower than PINE's 10.22% return.

RWO

• 1D: 1.09%
• 1M: -5.92%
• YTD: 3.40%
• 6M: 2.59%
• 1Y: 9.75%
• 3Y*: 7.83%
• 5Y*: 2.85%
• 10Y*: 3.10%

PINE

• 1D: 0.78%
• 1M: -5.93%
• YTD: 10.22%
• 6M: 31.74%
• 1Y: 13.52%
• 3Y*: 9.71%
• 5Y*: 6.91%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

RWO vs. PINE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RWO

RWO Risk / Return Rank: 33
RWO Sharpe Ratio Rank: 32
RWO Sortino Ratio Rank: 31
RWO Omega Ratio Rank: 30
RWO Calmar Ratio Rank: 33
RWO Martin Ratio Rank: 38

PINE

PINE Risk / Return Rank: 57
PINE Sharpe Ratio Rank: 62
PINE Sortino Ratio Rank: 54
PINE Omega Ratio Rank: 52
PINE Calmar Ratio Rank: 59
PINE Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RWO vs. PINE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones Global Real Estate ETF (RWO) and Alpine Income Property Trust, Inc. (PINE). 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.

	RWO	PINE	Difference
Sharpe ratio Return per unit of total volatility	0.63	0.61	+0.02
Sortino ratio Return per unit of downside risk	0.96	1.00	-0.04
Omega ratio Gain probability vs. loss probability	1.13	1.12	+0.01
Calmar ratio Return relative to maximum drawdown	0.86	0.81	+0.05
Martin ratio Return relative to average drawdown	3.70	1.63	+2.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RWO vs. PINE - Sharpe Ratio Comparison

The current RWO Sharpe Ratio is 0.63, which is comparable to the PINE Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of RWO and PINE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	RWO	PINE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.63	0.61	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	0.29	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.15	+0.01

Correlation

The correlation between RWO and PINE is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

RWO vs. PINE - Dividend Comparison

RWO's dividend yield for the trailing twelve months is around 3.49%, less than PINE's 6.37% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RWO SPDR Dow Jones Global Real Estate ETF	3.49%	3.62%	3.68%	3.53%	3.69%	2.79%	3.25%	3.97%	3.90%	3.26%	3.77%	2.97%
PINE Alpine Income Property Trust, Inc.	6.37%	6.82%	6.61%	6.51%	5.71%	5.06%	5.47%	0.30%	0.00%	0.00%	0.00%	0.00%

Drawdowns

RWO vs. PINE - Drawdown Comparison

The maximum RWO drawdown since its inception was -67.69%, which is greater than PINE's maximum drawdown of -60.00%. Use the drawdown chart below to compare losses from any high point for RWO and PINE.

Drawdown Indicators

	RWO	PINE	Difference
Max Drawdown Largest peak-to-trough decline	-67.69%	-60.00%	-7.69%
Max Drawdown (1Y) Largest decline over 1 year	-11.48%	-18.23%	+6.75%
Max Drawdown (5Y) Largest decline over 5 years	-32.85%	-26.68%	-6.17%
Max Drawdown (10Y) Largest decline over 10 years	-43.27%	—	—
Current Drawdown Current decline from peak	-6.69%	-10.23%	+3.54%
Average Drawdown Average peak-to-trough decline	-12.78%	-12.43%	-0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	10.01%	-7.33%

Volatility

RWO vs. PINE - Volatility Comparison

The current volatility for SPDR Dow Jones Global Real Estate ETF (RWO) is 5.31%, while Alpine Income Property Trust, Inc. (PINE) has a volatility of 6.18%. This indicates that RWO experiences smaller price fluctuations and is considered to be less risky than PINE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWO	PINE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	6.18%	-0.87%
Volatility (6M) Calculated over the trailing 6-month period	9.05%	16.26%	-7.21%
Volatility (1Y) Calculated over the trailing 1-year period	15.56%	22.53%	-6.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.98%	24.08%	-7.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.19%	39.57%	-21.38%