RWR vs. NGREX

Last updated Jun 24, 2026

RWR (SPDR Dow Jones REIT ETF) and NGREX (Northern Global Real Estate Index Fund) are both REIT funds. Over the past 10 years, RWR returned 5.51%/yr vs 4.22%/yr for NGREX. Their correlation of 0.87 suggests significant overlap in exposure. RWR charges 0.25%/yr vs 0.47%/yr for NGREX.

Performance

RWR vs. NGREX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Dow Jones REIT ETF (RWR) and Northern Global Real Estate Index Fund (NGREX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RWR achieves a 16.14% return, which is significantly higher than NGREX's 8.30% return. Over the past 10 years, RWR has outperformed NGREX with an annualized return of 5.51%, while NGREX has yielded a comparatively lower 4.22% 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%

NGREX

• 1D: 0.64%
• 1M: -0.54%
• YTD: 8.30%
• 6M: 8.41%
• 1Y: 12.22%
• 3Y*: 11.43%
• 5Y*: 1.70%
• 10Y*: 4.22%

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

RWR vs. NGREX - 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%
NGREX Northern Global Real Estate Index Fund	8.30%	10.42%	2.63%	9.98%	-24.31%	22.71%	-8.35%	23.17%	-6.70%	14.36%

Correlation

The correlation between RWR and NGREX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jul 27, 2006	0.87

The correlation between RWR and NGREX has been stable across timeframes, ranging from 0.80 to 0.90 - a consistent structural relationship.

Return for Risk

RWR vs. NGREX — Risk / Return Rank

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

RWR

RWR Risk / Return Rank: 43
RWR Sharpe Ratio Rank: 41
RWR Sortino Ratio Rank: 38
RWR Omega Ratio Rank: 37
RWR Calmar Ratio Rank: 51
RWR Martin Ratio Rank: 50

NGREX

NGREX Risk / Return Rank: 16
NGREX Sharpe Ratio Rank: 14
NGREX Sortino Ratio Rank: 14
NGREX Omega Ratio Rank: 17
NGREX Calmar Ratio Rank: 15
NGREX Martin Ratio Rank: 21

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.

RWR vs. NGREX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones REIT ETF (RWR) and Northern Global Real Estate Index Fund (NGREX). 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	NGREX	Difference
Sharpe ratio: Return per unit of total volatility	1.37	0.96	+0.40
Sortino ratio: Return per unit of downside risk	1.89	1.43	+0.46
Omega ratio: Gain probability vs. loss probability	1.24	1.20	+0.04
Calmar ratio: Return relative to maximum drawdown	2.38	1.29	+1.09
Martin ratio: Return relative to average drawdown	8.03	4.72	+3.31

RWR vs. NGREX - Sharpe Ratio Comparison

The current RWR Sharpe Ratio is 1.37, which is higher than the NGREX Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of RWR and NGREX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RWR vs. NGREX - Drawdown Comparison

The maximum RWR drawdown since its inception was -74.92%, roughly equal to the maximum NGREX drawdown of -72.37%. Use the drawdown chart below to compare losses from any high point for RWR and NGREX.

Drawdown Indicators

	RWR	NGREX	Difference
Max Drawdown Largest peak-to-trough decline	-74.92%	-72.37%	-2.55%
Max Drawdown (1Y) Largest decline over 1 year	-8.04%	-10.33%	+2.29%
Max Drawdown (3Y) Largest decline over 3 years	-18.85%	-17.07%	-1.78%
Max Drawdown (5Y) Largest decline over 5 years	-32.58%	-32.14%	-0.44%
Max Drawdown (10Y) Largest decline over 10 years	-44.39%	-41.06%	-3.33%
Current Drawdown Current decline from peak	-0.46%	-2.40%	+1.94%
Average Drawdown Average peak-to-trough decline	-13.08%	-15.86%	+2.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.38%	2.80%	-0.42%

Volatility

RWR vs. NGREX - Volatility Comparison

SPDR Dow Jones REIT ETF (RWR) has a higher volatility of 5.42% compared to Northern Global Real Estate Index Fund (NGREX) at 3.80%. This indicates that RWR's price experiences larger fluctuations and is considered to be riskier than NGREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWR	NGREX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	3.80%	+1.62%
Volatility (6M) Calculated over the trailing 6-month period	10.37%	11.55%	-1.18%
Volatility (1Y) Calculated over the trailing 1-year period	14.05%	13.89%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.05%	16.00%	+3.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.55%	17.12%	+4.43%

RWR vs. NGREX - Expense Ratio Comparison

RWR has a 0.25% expense ratio, which is lower than NGREX's 0.47% expense ratio.

Dividends

RWR vs. NGREX - Dividend Comparison

RWR's dividend yield for the trailing twelve months is around 3.36%, less than NGREX's 3.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NGREX Northern Global Real Estate Index Fund	3.48%	3.92%	3.71%	2.40%	1.85%	3.11%	2.09%	4.49%	3.91%	2.59%	4.36%	2.49%
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

Can I hold both RWR and NGREX in my portfolio?

RWR and NGREX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWR or NGREX?

RWR has higher volatility (5.42%) compared to NGREX (3.80%). In terms of maximum drawdown, RWR dropped -74.92% vs NGREX's -72.37%.

Which has better risk-adjusted returns?

RWR currently has the higher Sharpe Ratio (1.37 vs 0.96), 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.