RWR vs. RWX

Last updated Jun 4, 2026

RWR (SPDR Dow Jones REIT ETF) and RWX (SPDR DJ Wilshire International Real Estate ETF) are both REIT funds from State Street - RWR tracks the Dow Jones U.S. Select REIT Index while RWX tracks the Dow Jones Global ex-U.S. Real Estate Securities Index. Both are passively managed. Over the past 10 years, RWR returned 5.15%/yr vs 0.36%/yr for RWX. A 0.60 correlation means they provide meaningful diversification when combined. RWR charges 0.25%/yr vs 0.59%/yr for RWX.

Performance

RWR vs. RWX - Performance Comparison

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

Returns By Period

In the year-to-date period, RWR achieves a 11.08% return, which is significantly higher than RWX's -3.34% return. Over the past 10 years, RWR has outperformed RWX with an annualized return of 5.15%, while RWX has yielded a comparatively lower 0.36% annualized return.

RWR

• 1D: 0.27%
• 1M: -0.13%
• YTD: 11.08%
• 6M: 9.50%
• 1Y: 15.44%
• 3Y*: 11.00%
• 5Y*: 4.15%
• 10Y*: 5.15%

RWX

• 1D: -1.01%
• 1M: -3.50%
• YTD: -3.34%
• 6M: -2.26%
• 1Y: 3.84%
• 3Y*: 5.03%
• 5Y*: -2.65%
• 10Y*: 0.36%

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

RWR vs. RWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RWR SPDR Dow Jones REIT ETF	11.08%	3.20%	7.74%	13.76%	-26.09%	45.47%	-11.40%	22.71%	-4.47%	3.47%
RWX SPDR DJ Wilshire International Real Estate ETF	-3.34%	26.24%	-12.15%	6.25%	-21.84%	9.34%	-9.03%	19.88%	-8.25%	15.50%

Correlation

The correlation between RWR and RWX is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Dec 20, 2006	0.60

The correlation between RWR and RWX has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.

RWR vs. RWX - Sectors Allocation Comparison

Sectors	RWR	RWX
Real Estate	98.6%	60.5%
Financial Services	0.0%	2.8%
Utilities	0.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	3.1%
Consumer Defensive	-	-
Energy	-	1.2%
Healthcare	-	1.5%
Industrials	-	0.6%
Technology	-	2.7%

Return for Risk

RWR vs. RWX — Risk / Return Rank

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

RWR

RWR Risk / Return Rank: 34
RWR Sharpe Ratio Rank: 31
RWR Sortino Ratio Rank: 30
RWR Omega Ratio Rank: 29
RWR Calmar Ratio Rank: 39
RWR Martin Ratio Rank: 41

RWX

RWX Risk / Return Rank: 12
RWX Sharpe Ratio Rank: 13
RWX Sortino Ratio Rank: 12
RWX Omega Ratio Rank: 12
RWX Calmar Ratio Rank: 12
RWX Martin Ratio Rank: 13

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. RWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones REIT ETF (RWR) and SPDR DJ Wilshire International Real Estate ETF (RWX). 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	RWX	Difference
Sharpe ratio: Return per unit of total volatility	1.16	0.29	+0.87
Sortino ratio: Return per unit of downside risk	1.63	0.50	+1.13
Omega ratio: Gain probability vs. loss probability	1.20	1.06	+0.14
Calmar ratio: Return relative to maximum drawdown	1.93	0.28	+1.65
Martin ratio: Return relative to average drawdown	6.55	0.85	+5.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RWR vs. RWX - Sharpe Ratio Comparison

The current RWR Sharpe Ratio is 1.16, which is higher than the RWX Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of RWR and RWX, 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

	RWR	RWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	0.29	+0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	-0.17	+0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.02	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.03	+0.28

Drawdowns

RWR vs. RWX - Drawdown Comparison

The maximum RWR drawdown since its inception was -74.92%, roughly equal to the maximum RWX drawdown of -73.62%. Use the drawdown chart below to compare losses from any high point for RWR and RWX.

Drawdown Indicators

	RWR	RWX	Difference
Max Drawdown Largest peak-to-trough decline	-74.92%	-73.62%	-1.30%
Max Drawdown (1Y) Largest decline over 1 year	-8.04%	-13.58%	+5.54%
Max Drawdown (3Y) Largest decline over 3 years	-18.85%	-19.05%	+0.20%
Max Drawdown (5Y) Largest decline over 5 years	-32.58%	-35.91%	+3.33%
Max Drawdown (10Y) Largest decline over 10 years	-44.39%	-43.37%	-1.02%
Current Drawdown Current decline from peak	-3.09%	-14.76%	+11.67%
Average Drawdown Average peak-to-trough decline	-13.11%	-20.30%	+7.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	4.54%	-2.18%

Volatility

RWR vs. RWX - Volatility Comparison

SPDR Dow Jones REIT ETF (RWR) and SPDR DJ Wilshire International Real Estate ETF (RWX) have volatilities of 4.09% and 4.07%, 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	RWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.09%	4.07%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	9.51%	10.85%	-1.34%
Volatility (1Y) Calculated over the trailing 1-year period	13.39%	13.26%	+0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.01%	15.84%	+3.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.51%	16.49%	+5.02%

RWR vs. RWX - Expense Ratio Comparison

RWR has a 0.25% expense ratio, which is lower than RWX's 0.59% expense ratio.

Dividends

RWR vs. RWX - Dividend Comparison

RWR's dividend yield for the trailing twelve months is around 3.44%, less than RWX's 3.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RWR SPDR Dow Jones REIT ETF	3.44%	3.78%	3.76%	3.75%	3.81%	2.79%	3.73%	3.36%	4.19%	3.05%	4.39%	3.17%
RWX SPDR DJ Wilshire International Real Estate ETF	3.78%	3.65%	4.32%	3.90%	4.05%	4.62%	2.92%	8.94%	5.28%	2.77%	8.74%	2.94%

Frequently Asked Questions

Can I hold both RWR and RWX in my portfolio?

RWR and RWX have a correlation of 0.57, 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 RWX?

RWR has higher volatility (4.09%) compared to RWX (4.07%). In terms of maximum drawdown, RWR dropped -74.92% vs RWX's -73.62%.

Which ETF is better, RWR or RWX?

On 10-year performance, RWR leads with 5.15% vs 0.36% for RWX. On fees, RWR is cheaper at 0.25% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RWR or RWX?

Over the 10-year period, RWR has performed better with a 5.15% return vs 0.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWR or RWX?

RWR is cheaper with a 0.25% expense ratio, compared with 0.59% for RWX.

Which ETF pays a higher dividend yield, RWR or RWX?

RWX has the higher dividend yield at 3.78%, compared with 3.44% for RWR.

What is the main difference between RWR and RWX?

RWR tracks Dow Jones U.S. Select REIT Index, while RWX tracks Dow Jones Global ex-U.S. Real Estate Securities Index. Their fees differ too: 0.25% for RWR and 0.59% for RWX.

Which has better risk-adjusted returns?

RWR currently has the higher Sharpe Ratio (1.16 vs 0.29), 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.