RWR vs. BBRE
RWR (State Street SPDR Dow Jones REIT ETF) and BBRE (JPMorgan BetaBuilders MSCI US REIT ETF) are both REIT funds - RWR tracks the Dow Jones U.S. Select REIT Capped Index while BBRE tracks the MSCI US REIT Index. Both are passively managed. Over the past 5 years, RWR returned 4.74%/yr vs 4.94%/yr for BBRE. Their 0.97 correlation means they have historically moved very closely together. RWR charges 0.25%/yr vs 0.11%/yr for BBRE.
Performance
RWR vs. BBRE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with RWR having a 19.80% return and BBRE slightly higher at 19.92%.
RWR
- 1D
- -0.40%
- 1M
- 0.66%
- 6M
- 16.61%
- YTD
- 19.80%
- 1Y
- 26.30%
- 3Y*
- 11.91%
- 5Y*
- 4.74%
- 10Y*
- 5.04%
- ALL TIME*
- 8.88%
BBRE
- 1D
- -0.53%
- 1M
- 0.88%
- 6M
- 16.77%
- YTD
- 19.92%
- 1Y
- 24.62%
- 3Y*
- 11.76%
- 5Y*
- 4.94%
- 10Y*
- —
- ALL TIME*
- 7.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.15M | $3.29M | $5.12M | |
| $43.72M | $37.86M | $34.73M |
RWR vs. BBRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
RWR State Street SPDR Dow Jones REIT ETF | 19.80% | 3.20% | 7.74% | 13.76% | -26.09% | 45.47% | -11.40% | 22.71% | -3.10% |
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 19.92% | 2.09% | 8.24% | 13.85% | -24.68% | 42.99% | -7.55% | 26.06% | -2.41% |
Correlation
The correlation between RWR and BBRE is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2018 | 0.97 |
The correlation between RWR and BBRE has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
RWR vs. BBRE — Risk / Return Rank
RWR
BBRE
RWR vs. BBRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Dow Jones REIT ETF (RWR) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE). 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.
| RWR | BBRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.30 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 2.99 | +0.23 |
| Martin ratioReturn relative to average drawdown | 11.41 | 9.87 | +1.54 |
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Drawdowns
RWR vs. BBRE - Drawdown Comparison
The maximum RWR drawdown since its inception was -74.92%, which is greater than BBRE's maximum drawdown of -43.61%. Use the drawdown chart below to compare losses from any high point for RWR and BBRE.
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Drawdown Indicators
| RWR | BBRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.92% | -43.61% | -31.31% |
Max Drawdown (1Y)Largest decline over 1 year | -8.04% | -8.07% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -18.85% | -18.92% | +0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -32.58% | -31.15% | -1.43% |
Max Drawdown (10Y)Largest decline over 10 years | -44.39% | — | — |
Current DrawdownCurrent decline from peak | -2.72% | -2.82% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -13.03% | -10.33% | -2.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 2.44% | -0.18% |
Volatility
RWR vs. BBRE - Volatility Comparison
State Street SPDR Dow Jones REIT ETF (RWR) has a higher volatility of 4.99% compared to JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) at 4.70%. This indicates that RWR's price experiences larger fluctuations and is considered to be riskier than BBRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RWR | BBRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.99% | 4.70% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 10.99% | 10.87% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.14% | 14.06% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.05% | 18.82% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.57% | 22.47% | -0.90% |
RWR vs. BBRE - Expense Ratio Comparison
RWR has a 0.25% expense ratio, which is higher than BBRE's 0.11% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
RWR vs. BBRE - Dividend Comparison
RWR's dividend yield for the trailing twelve months is around 3.26%, more than BBRE's 2.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 2.58% | 3.24% | 3.19% | 3.68% | 2.62% | 1.70% | 3.17% | 2.19% | 1.96% | 0.00% | 0.00% | 0.00% |
RWR State Street SPDR Dow Jones REIT ETF | 3.26% | 3.78% | 3.76% | 3.75% | 3.81% | 2.79% | 3.73% | 3.36% | 4.19% | 3.05% | 4.39% | 3.17% |
Frequently Asked Questions
With a correlation of 0.99, RWR and BBRE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
RWR has higher volatility (4.99%) compared to BBRE (4.70%). In terms of maximum drawdown, RWR dropped -74.92% vs BBRE's -43.61%.
On 5-year performance, BBRE leads with 4.94% vs 4.74% for RWR. On fees, BBRE is cheaper at 0.11% per year. On volatility, BBRE has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BBRE has performed better with a 4.94% return vs 4.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBRE is cheaper with a 0.11% expense ratio, compared with 0.25% for RWR.
RWR has the higher dividend yield at 3.26%, compared with 2.58% for BBRE.
RWR tracks Dow Jones U.S. Select REIT Capped Index, while BBRE tracks MSCI US REIT Index. They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.25% for RWR and 0.11% for BBRE.
RWR currently has the higher Sharpe Ratio (1.84 vs 1.73), 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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