RWO vs. VRAI

Last updated Jun 5, 2026

RWO (SPDR Dow Jones Global Real Estate ETF) and VRAI (Virtus Real Asset Income ETF) are both REIT funds - RWO tracks the Dow Jones Global Select Real Estate Securities Index while VRAI tracks the Indxx Real Asset Income Index. Both are passively managed. Over the past 5 years, RWO returned 2.16%/yr vs 5.64%/yr for VRAI. A 0.73 correlation means they provide meaningful diversification when combined. RWO charges 0.50%/yr vs 0.55%/yr for VRAI.

Performance

RWO vs. VRAI - Performance Comparison

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

Returns By Period

In the year-to-date period, RWO achieves a 9.15% return, which is significantly lower than VRAI's 22.49% return.

RWO

• 1D: 1.12%
• 1M: -0.43%
• YTD: 9.15%
• 6M: 8.96%
• 1Y: 13.90%
• 3Y*: 10.09%
• 5Y*: 2.16%
• 10Y*: 3.58%

VRAI

• 1D: 1.14%
• 1M: 0.11%
• YTD: 22.49%
• 6M: 19.28%
• 1Y: 29.47%
• 3Y*: 12.52%
• 5Y*: 5.64%
• 10Y*: —

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

RWO vs. VRAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
RWO SPDR Dow Jones Global Real Estate ETF	9.15%	8.87%	1.76%	10.91%	-25.11%	31.03%	-10.44%	9.52%
VRAI Virtus Real Asset Income ETF	22.49%	6.67%	2.66%	6.12%	-9.96%	24.35%	-5.94%	5.61%

Correlation

The correlation between RWO and VRAI 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	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Feb 11, 2019	0.73

The correlation between RWO and VRAI shifts across timeframes, from 0.54 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.

RWO vs. VRAI - Sectors Allocation Comparison

Sectors	RWO	VRAI
Real Estate	89.3%	33.6%
Consumer Cyclical	0.8%	-
Financial Services	0.8%	-
Technology	0.7%	1.3%
Healthcare	0.4%	-
Energy	0.3%	32.4%
Industrials	0.2%	-
Utilities	0.0%	18.0%
Basic Materials	-	7.7%
Communication Services	-	2.7%
Consumer Defensive	-	1.9%

Return for Risk

RWO vs. VRAI — Risk / Return Rank

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

RWO

RWO Risk / Return Rank: 32
RWO Sharpe Ratio Rank: 31
RWO Sortino Ratio Rank: 29
RWO Omega Ratio Rank: 30
RWO Calmar Ratio Rank: 31
RWO Martin Ratio Rank: 37

VRAI

VRAI Risk / Return Rank: 83
VRAI Sharpe Ratio Rank: 79
VRAI Sortino Ratio Rank: 81
VRAI Omega Ratio Rank: 75
VRAI Calmar Ratio Rank: 92
VRAI Martin Ratio Rank: 89

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. VRAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones Global Real Estate ETF (RWO) and Virtus Real Asset Income ETF (VRAI). 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	VRAI	Difference
Sharpe ratio: Return per unit of total volatility	1.10	2.50	-1.41
Sortino ratio: Return per unit of downside risk	1.55	3.54	-1.99
Omega ratio: Gain probability vs. loss probability	1.19	1.44	-0.24
Calmar ratio: Return relative to maximum drawdown	1.47	6.14	-4.68
Martin ratio: Return relative to average drawdown	5.68	19.39	-13.70
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. VRAI - Sharpe Ratio Comparison

The current RWO Sharpe Ratio is 1.10, which is lower than the VRAI Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of RWO and VRAI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RWO	VRAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.10	2.50	-1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.34	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.29	-0.13

Drawdowns

RWO vs. VRAI - Drawdown Comparison

The maximum RWO drawdown since its inception was -67.69%, which is greater than VRAI's maximum drawdown of -47.51%. Use the drawdown chart below to compare losses from any high point for RWO and VRAI.

Drawdown Indicators

	RWO	VRAI	Difference
Max Drawdown Largest peak-to-trough decline	-67.69%	-47.51%	-20.18%
Max Drawdown (1Y) Largest decline over 1 year	-9.51%	-4.82%	-4.69%
Max Drawdown (3Y) Largest decline over 3 years	-17.66%	-16.89%	-0.77%
Max Drawdown (5Y) Largest decline over 5 years	-32.85%	-26.71%	-6.14%
Max Drawdown (10Y) Largest decline over 10 years	-43.27%	—	—
Current Drawdown Current decline from peak	-2.14%	0.00%	-2.14%
Average Drawdown Average peak-to-trough decline	-12.68%	-10.09%	-2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	1.52%	+0.93%

Volatility

RWO vs. VRAI - Volatility Comparison

SPDR Dow Jones Global Real Estate ETF (RWO) has a higher volatility of 4.06% compared to Virtus Real Asset Income ETF (VRAI) at 3.63%. This indicates that RWO's price experiences larger fluctuations and is considered to be riskier than VRAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWO	VRAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.06%	3.63%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	9.39%	8.47%	+0.92%
Volatility (1Y) Calculated over the trailing 1-year period	12.72%	11.88%	+0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.04%	16.65%	+0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.21%	22.13%	-3.92%

RWO vs. VRAI - Expense Ratio Comparison

RWO has a 0.50% expense ratio, which is lower than VRAI's 0.55% expense ratio.

Dividends

RWO vs. VRAI - Dividend Comparison

RWO's dividend yield for the trailing twelve months is around 3.31%, more than VRAI's 3.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RWO SPDR Dow Jones Global Real Estate ETF	3.31%	3.62%	3.68%	3.53%	3.69%	2.79%	3.25%	3.97%	3.90%	3.26%	3.77%	2.97%
VRAI Virtus Real Asset Income ETF	3.19%	4.68%	7.13%	5.02%	4.48%	3.34%	3.91%	2.80%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RWO and VRAI in my portfolio?

RWO and VRAI 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.

Which is riskier, RWO or VRAI?

RWO has higher volatility (4.06%) compared to VRAI (3.63%). In terms of maximum drawdown, RWO dropped -67.69% vs VRAI's -47.51%.

Which ETF is better, RWO or VRAI?

On 5-year performance, VRAI leads with 5.64% vs 2.16% for RWO. On fees, RWO is cheaper at 0.50% per year. On volatility, VRAI has been the lower-risk option at 3.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RWO or VRAI?

Over the 5-year period, VRAI has performed better with a 5.64% return vs 2.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWO or VRAI?

RWO is cheaper with a 0.50% expense ratio, compared with 0.55% for VRAI.

Which ETF pays a higher dividend yield, RWO or VRAI?

RWO has the higher dividend yield at 3.31%, compared with 3.19% for VRAI.

What is the main difference between RWO and VRAI?

RWO tracks Dow Jones Global Select Real Estate Securities Index, while VRAI tracks Indxx Real Asset Income Index. They also come from different issuers: State Street and Virtus Investment Partners. Their fees differ too: 0.50% for RWO and 0.55% for VRAI.

Which has better risk-adjusted returns?

VRAI currently has the higher Sharpe Ratio (2.50 vs 1.10), 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.