RWR vs. KBWY
RWR (SPDR Dow Jones REIT ETF) and KBWY (Invesco KBW Premium Yield Equity REIT ETF) are both REIT funds - RWR tracks the Dow Jones U.S. Select REIT Index while KBWY tracks the KBW Nasdaq Premium Yield Equity REIT Index. Both are passively managed. Over the past 10 years, RWR returned 5.51%/yr vs 1.46%/yr for KBWY. Their correlation of 0.85 suggests significant overlap in exposure. RWR charges 0.25%/yr vs 0.35%/yr for KBWY.
Performance
RWR vs. KBWY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, RWR achieves a 16.14% return, which is significantly lower than KBWY's 22.56% return. Over the past 10 years, RWR has outperformed KBWY with an annualized return of 5.51%, while KBWY has yielded a comparatively lower 1.46% annualized return.
RWR
- 1D
- 1.31%
- 1M
- 1.96%
- YTD
- 16.14%
- 6M
- 16.59%
- 1Y
- 19.02%
- 3Y*
- 13.63%
- 5Y*
- 4.96%
- 10Y*
- 5.51%
KBWY
- 1D
- 1.25%
- 1M
- 4.73%
- YTD
- 22.56%
- 6M
- 24.93%
- 1Y
- 25.07%
- 3Y*
- 11.98%
- 5Y*
- 3.00%
- 10Y*
- 1.46%
RWR vs. KBWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RWR SPDR Dow Jones REIT ETF | 16.14% | 3.20% | 7.74% | 13.76% | -26.09% | 45.47% | -11.40% | 22.71% | -4.47% | 3.47% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 22.56% | -5.30% | -3.49% | 12.88% | -19.00% | 31.22% | -25.83% | 23.36% | -18.20% | 0.81% |
Correlation
The correlation between RWR and KBWY is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2010 | 0.85 |
The correlation between RWR and KBWY has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
RWR vs. KBWY — Risk / Return Rank
RWR
KBWY
RWR vs. KBWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones REIT ETF (RWR) and Invesco KBW Premium Yield Equity REIT ETF (KBWY). 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 | KBWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.25 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 2.72 | -0.35 |
| Martin ratioReturn relative to average drawdown | 8.03 | 6.48 | +1.55 |
Loading charts...
Drawdowns
RWR vs. KBWY - Drawdown Comparison
The maximum RWR drawdown since its inception was -74.92%, which is greater than KBWY's maximum drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for RWR and KBWY.
Loading charts...
Drawdown Indicators
| RWR | KBWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.92% | -57.68% | -17.24% |
Max Drawdown (1Y)Largest decline over 1 year | -8.04% | -9.24% | +1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -18.85% | -29.93% | +11.08% |
Max Drawdown (5Y)Largest decline over 5 years | -32.58% | -32.29% | -0.29% |
Max Drawdown (10Y)Largest decline over 10 years | -44.39% | -57.68% | +13.29% |
Current DrawdownCurrent decline from peak | -0.46% | -6.64% | +6.18% |
Average DrawdownAverage peak-to-trough decline | -13.08% | -14.15% | +1.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.38% | 3.88% | -1.50% |
Volatility
RWR vs. KBWY - Volatility Comparison
SPDR Dow Jones REIT ETF (RWR) has a higher volatility of 5.42% compared to Invesco KBW Premium Yield Equity REIT ETF (KBWY) at 4.85%. This indicates that RWR's price experiences larger fluctuations and is considered to be riskier than KBWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| RWR | KBWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.42% | 4.85% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 10.37% | 12.16% | -1.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.05% | 16.79% | -2.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.05% | 21.61% | -2.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.55% | 27.08% | -5.53% |
RWR vs. KBWY - Expense Ratio Comparison
RWR has a 0.25% expense ratio, which is lower than KBWY's 0.35% expense ratio.
Dividends
RWR vs. KBWY - Dividend Comparison
RWR's dividend yield for the trailing twelve months is around 3.36%, less than KBWY's 8.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWY Invesco KBW Premium Yield Equity REIT ETF | 8.28% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
RWR SPDR Dow Jones REIT ETF | 3.36% | 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
RWR and KBWY have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RWR has higher volatility (5.42%) compared to KBWY (4.85%). In terms of maximum drawdown, RWR dropped -74.92% vs KBWY's -57.68%.
On 10-year performance, RWR leads with 5.51% vs 1.46% for KBWY. On fees, RWR is cheaper at 0.25% per year. On volatility, KBWY has been the lower-risk option at 4.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RWR has performed better with a 5.51% return vs 1.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RWR is cheaper with a 0.25% expense ratio, compared with 0.35% for KBWY.
KBWY has the higher dividend yield at 8.28%, compared with 3.36% for RWR.
RWR tracks Dow Jones U.S. Select REIT Index, while KBWY tracks KBW Nasdaq Premium Yield Equity REIT Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.25% for RWR and 0.35% for KBWY.
KBWY currently has the higher Sharpe Ratio (1.50 vs 1.37), 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.
Find the right allocation for RWR and KBWY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer