RWR vs. O

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR Dow Jones REIT ETF (RWR) and Realty Income Corporation (O).

RWR is a passively managed fund by State Street that tracks the performance of the Dow Jones U.S. Select REIT Index. It was launched on Apr 23, 2001.

Performance

RWR vs. O - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Dow Jones REIT ETF (RWR) and Realty Income Corporation (O). The values are adjusted to include any dividend payments, if applicable.

RWR vs. O - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RWR SPDR Dow Jones REIT ETF	4.04%	3.20%	7.74%	13.76%	-26.09%	45.47%	-11.40%	22.71%	-4.47%	3.47%
O Realty Income Corporation	11.21%	12.20%	-2.11%	-4.55%	-7.38%	23.95%	-11.60%	21.27%	15.94%	3.67%

Returns By Period

In the year-to-date period, RWR achieves a 4.04% return, which is significantly lower than O's 11.21% return. Over the past 10 years, RWR has underperformed O with an annualized return of 4.42%, while O has yielded a comparatively higher 5.07% annualized return.

RWR

• 1D: 0.59%
• 1M: -5.89%
• YTD: 4.04%
• 6M: 2.99%
• 1Y: 6.41%
• 3Y*: 8.65%
• 5Y*: 4.71%
• 10Y*: 4.42%

O

• 1D: 1.14%
• 1M: -8.00%
• YTD: 11.21%
• 6M: 5.16%
• 1Y: 14.40%
• 3Y*: 4.90%
• 5Y*: 4.79%
• 10Y*: 5.07%

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

Return for Risk

RWR vs. O — Risk / Return Rank

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

RWR

RWR Risk / Return Rank: 23
RWR Sharpe Ratio Rank: 22
RWR Sortino Ratio Rank: 21
RWR Omega Ratio Rank: 21
RWR Calmar Ratio Rank: 22
RWR Martin Ratio Rank: 26

O

O Risk / Return Rank: 65
O Sharpe Ratio Rank: 70
O Sortino Ratio Rank: 61
O Omega Ratio Rank: 58
O Calmar Ratio Rank: 65
O Martin Ratio Rank: 70

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. O - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones REIT ETF (RWR) and Realty Income Corporation (O). 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.

	RWR	O	Difference
Sharpe ratio Return per unit of total volatility	0.38	0.86	-0.48
Sortino ratio Return per unit of downside risk	0.63	1.24	-0.61
Omega ratio Gain probability vs. loss probability	1.08	1.15	-0.07
Calmar ratio Return relative to maximum drawdown	0.48	1.19	-0.71
Martin ratio Return relative to average drawdown	2.04	3.57	-1.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RWR vs. O - Sharpe Ratio Comparison

The current RWR Sharpe Ratio is 0.38, which is lower than the O Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of RWR and O, 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

	RWR	O	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.38	0.86	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.25	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.20	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.49	-0.19

Correlation

The correlation between RWR and O is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

RWR vs. O - Dividend Comparison

RWR's dividend yield for the trailing twelve months is around 3.67%, less than O's 5.22% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RWR SPDR Dow Jones REIT ETF	3.67%	3.78%	3.76%	3.75%	3.81%	2.79%	3.73%	3.36%	4.19%	3.05%	4.39%	3.17%
O Realty Income Corporation	5.22%	6.19%	5.37%	5.33%	4.68%	3.87%	4.51%	3.69%	4.19%	4.45%	4.18%	4.41%

Drawdowns

RWR vs. O - Drawdown Comparison

The maximum RWR drawdown since its inception was -74.92%, which is greater than O's maximum drawdown of -48.45%. Use the drawdown chart below to compare losses from any high point for RWR and O.

Drawdown Indicators

	RWR	O	Difference
Max Drawdown Largest peak-to-trough decline	-74.92%	-48.45%	-26.47%
Max Drawdown (1Y) Largest decline over 1 year	-13.42%	-11.10%	-2.32%
Max Drawdown (5Y) Largest decline over 5 years	-32.58%	-34.48%	+1.90%
Max Drawdown (10Y) Largest decline over 10 years	-44.39%	-48.28%	+3.89%
Current Drawdown Current decline from peak	-5.89%	-8.00%	+2.11%
Average Drawdown Average peak-to-trough decline	-13.19%	-9.22%	-3.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	3.70%	-0.55%

Volatility

RWR vs. O - Volatility Comparison

SPDR Dow Jones REIT ETF (RWR) and Realty Income Corporation (O) have volatilities of 4.64% and 4.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWR	O	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.64%	4.53%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	9.26%	11.31%	-2.05%
Volatility (1Y) Calculated over the trailing 1-year period	17.00%	16.84%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.01%	18.89%	+0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.51%	25.69%	-4.18%