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RWR vs. USRT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RWR vs. USRT

Last updated Jun 4, 2026

RWR (SPDR Dow Jones REIT ETF) and USRT (iShares Core U.S. REIT ETF) are both REIT funds - RWR tracks the Dow Jones U.S. Select REIT Index while USRT tracks the FTSE NAREIT Equity REITs Index. Both are passively managed. Over the past 10 years, RWR returned 5.15%/yr vs 6.21%/yr for USRT. Their correlation of 0.93 suggests significant overlap in exposure. RWR charges 0.25%/yr vs 0.08%/yr for USRT.

Performance

RWR vs. USRT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Dow Jones REIT ETF (RWR) and iShares Core U.S. REIT ETF (USRT). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RWR achieves a 11.08% return, which is significantly lower than USRT's 12.59% return. Over the past 10 years, RWR has underperformed USRT with an annualized return of 5.15%, while USRT has yielded a comparatively higher 6.21% 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%

USRT

1D
0.08%
1M
-0.19%
YTD
12.59%
6M
11.36%
1Y
15.26%
3Y*
11.53%
5Y*
4.73%
10Y*
6.21%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RWR vs. USRT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
USRT
iShares Core U.S. REIT ETF		12.59%2.44%8.58%13.64%-24.43%43.26%-8.06%25.98%-4.67%5.27%

Correlation

The correlation between RWR and USRT is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.99

Correlation (3Y)
Calculated over the trailing 3-year period

0.99

Correlation (5Y)
Calculated over the trailing 5-year period

0.99

Correlation (10Y)
Calculated over the trailing 10-year period

0.99

Correlation (All Time)
Calculated using the full available price history since May 7, 2007

0.93

The correlation between RWR and USRT has been stable across timeframes, ranging from 0.93 to 0.99 - a consistent structural relationship.

RWR vs. USRT - Sectors Allocation Comparison

Sectors
RWR
USRT

Real Estate

98.6%
99.4%

Financial Services

0.0%
0.1%

Utilities

0.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Technology

-

-

Real Estate

RWR
98.6%
USRT
99.4%

Financial Services

RWR
0.0%
USRT
0.1%

Utilities

RWR
0.0%
USRT

-

Basic Materials

RWR

-

USRT

-

Communication Services

RWR

-

USRT

-

Consumer Cyclical

RWR

-

USRT

-

Consumer Defensive

RWR

-

USRT

-

Energy

RWR

-

USRT

-

Healthcare

RWR

-

USRT

-

Industrials

RWR

-

USRT

-

Technology

RWR

-

USRT

-

Compare stocks, funds, or ETFs

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SPDR Dow Jones REIT ETF

iShares Core U.S. REIT ETF

Often compared with RWR:
RWR vs. VNQRWR vs. SCHHRWR vs. FRIRWR vs. VOORWR vs. SPYRWR vs. VGSLXRWR vs. EUEA.AS
Often compared with USRT:
USRT vs. VNQUSRT vs. XLREUSRT vs. REETUSRT vs. ICFUSRT vs. BBREUSRT vs. VOOUSRT vs. SCHD

Return for Risk

RWR vs. USRT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RWR
RWR Risk / Return Rank: 3434
Overall Rank
RWR Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
RWR Sortino Ratio Rank: 3030
Sortino Ratio Rank
RWR Omega Ratio Rank: 2929
Omega Ratio Rank
RWR Calmar Ratio Rank: 3939
Calmar Ratio Rank
RWR Martin Ratio Rank: 4141
Martin Ratio Rank
USRT
USRT Risk / Return Rank: 3333
Overall Rank
USRT Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
USRT Sortino Ratio Rank: 2929
Sortino Ratio Rank
USRT Omega Ratio Rank: 2929
Omega Ratio Rank
USRT Calmar Ratio Rank: 3838
Calmar Ratio Rank
USRT Martin Ratio Rank: 3838
Martin Ratio Rank
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. USRT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones REIT ETF (RWR) and iShares Core U.S. REIT ETF (USRT). 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.

RWRUSRTDifference
Sharpe ratioReturn per unit of total volatility
1.16
1.15

0.00

Sortino ratioReturn per unit of downside risk
1.63
1.63

0.00

Omega ratioGain probability vs. loss probability

1.20

1.20

0.00

Calmar ratioReturn relative to maximum drawdown

1.93

1.91

+0.02

Martin ratioReturn relative to average drawdown

6.55

6.15

+0.40

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. USRT - Sharpe Ratio Comparison

The current RWR Sharpe Ratio is 1.16, which is comparable to the USRT Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of RWR and USRT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

RWRUSRTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.16

1.15

0.00

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.22

0.25

-0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.24

0.29

-0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.31

0.18

+0.13

Drawdowns

RWR vs. USRT - Drawdown Comparison

The maximum RWR drawdown since its inception was -74.92%, which is greater than USRT's maximum drawdown of -69.91%. Use the drawdown chart below to compare losses from any high point for RWR and USRT.

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Drawdown Indicators

RWRUSRTDifference

Max Drawdown

Largest peak-to-trough decline

-74.92%

-69.91%

-5.01%

Max Drawdown (1Y)

Largest decline over 1 year

-8.04%

-8.04%

0.00%

Max Drawdown (3Y)

Largest decline over 3 years

-18.85%

-18.70%

-0.15%

Max Drawdown (5Y)

Largest decline over 5 years

-32.58%

-31.03%

-1.55%

Max Drawdown (10Y)

Largest decline over 10 years

-44.39%

-44.38%

-0.01%

Current Drawdown

Current decline from peak

-3.09%

-3.01%

-0.08%

Average Drawdown

Average peak-to-trough decline

-13.11%

-12.97%

-0.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.36%

2.49%

-0.13%

Volatility

RWR vs. USRT - Volatility Comparison

SPDR Dow Jones REIT ETF (RWR) and iShares Core U.S. REIT ETF (USRT) have volatilities of 4.09% and 3.92%, 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.

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Volatility by Period

RWRUSRTDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.09%

3.92%

+0.17%

Volatility (6M)

Calculated over the trailing 6-month period

9.51%

9.25%

+0.26%

Volatility (1Y)

Calculated over the trailing 1-year period

13.39%

13.28%

+0.11%

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%

21.28%

+0.23%

RWR vs. USRT - Expense Ratio Comparison

RWR has a 0.25% expense ratio, which is higher than USRT's 0.08% 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. USRT - Dividend Comparison

RWR's dividend yield for the trailing twelve months is around 3.44%, more than USRT's 2.67% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
USRT
iShares Core U.S. REIT ETF		2.67%3.07%2.85%3.18%3.46%2.27%3.12%3.34%5.66%3.44%3.98%3.59%

Frequently Asked Questions

With a correlation of 0.99, RWR and USRT 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 (4.09%) compared to USRT (3.92%). In terms of maximum drawdown, RWR dropped -74.92% vs USRT's -69.91%.

On 10-year performance, USRT leads with 6.21% vs 5.15% for RWR. On fees, USRT is cheaper at 0.08% per year. On volatility, USRT has been the lower-risk option at 3.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, USRT has performed better with a 6.21% return vs 5.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

USRT is cheaper with a 0.08% expense ratio, compared with 0.25% for RWR.

RWR has the higher dividend yield at 3.44%, compared with 2.67% for USRT.

RWR tracks Dow Jones U.S. Select REIT Index, while USRT tracks FTSE NAREIT Equity REITs Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.25% for RWR and 0.08% for USRT.

RWR currently has the higher Sharpe Ratio (1.16 vs 1.15), 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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