RWR vs. VGSLX

Last updated Jun 23, 2026

RWR (SPDR Dow Jones REIT ETF) and VGSLX (Vanguard Real Estate Index Fund Admiral Shares) are both REIT funds - RWR tracks the Dow Jones U.S. Select REIT Index while VGSLX tracks the MSCI US Investable Market Real Estate 25/50 Index. Both are passively managed. Over the past 10 years, RWR returned 5.37%/yr vs 5.16%/yr for VGSLX. With a 0.97 correlation, they move nearly in lockstep. RWR charges 0.25%/yr vs 0.13%/yr for VGSLX.

Performance

RWR vs. VGSLX - Performance Comparison

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

Returns By Period

In the year-to-date period, RWR achieves a 14.64% return, which is significantly higher than VGSLX's 9.18% return. Both investments have delivered pretty close results over the past 10 years, with RWR having a 5.37% annualized return and VGSLX not far behind at 5.16%.

RWR

• 1D: 1.26%
• 1M: 0.64%
• YTD: 14.64%
• 6M: 14.73%
• 1Y: 19.15%
• 3Y*: 13.14%
• 5Y*: 4.64%
• 10Y*: 5.37%

VGSLX

• 1D: -0.03%
• 1M: -1.24%
• YTD: 9.18%
• 6M: 9.43%
• 1Y: 10.58%
• 3Y*: 8.72%
• 5Y*: 2.56%
• 10Y*: 5.16%

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

RWR vs. VGSLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RWR SPDR Dow Jones REIT ETF	14.64%	3.20%	7.74%	13.76%	-26.09%	45.47%	-11.40%	22.71%	-4.47%	3.47%
VGSLX Vanguard Real Estate Index Fund Admiral Shares	9.18%	3.18%	3.67%	13.13%	-26.20%	40.39%	-4.75%	28.90%	-5.99%	4.91%

Correlation

The correlation between RWR and VGSLX is 0.95 - 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001	0.97

The correlation between RWR and VGSLX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

Return for Risk

RWR vs. VGSLX — 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: 40
RWR Sortino Ratio Rank: 38
RWR Omega Ratio Rank: 37
RWR Calmar Ratio Rank: 50
RWR Martin Ratio Rank: 49

VGSLX

VGSLX Risk / Return Rank: 12
VGSLX Sharpe Ratio Rank: 10
VGSLX Sortino Ratio Rank: 10
VGSLX Omega Ratio Rank: 10
VGSLX Calmar Ratio Rank: 15
VGSLX Martin Ratio Rank: 16

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. VGSLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones REIT ETF (RWR) and Vanguard Real Estate Index Fund Admiral Shares (VGSLX). 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	VGSLX	Difference
Sharpe ratio: Return per unit of total volatility	1.37	0.77	+0.61
Sortino ratio: Return per unit of downside risk	1.90	1.13	+0.77
Omega ratio: Gain probability vs. loss probability	1.24	1.14	+0.10
Calmar ratio: Return relative to maximum drawdown	2.39	1.27	+1.12
Martin ratio: Return relative to average drawdown	8.08	3.98	+4.11

RWR vs. VGSLX - Sharpe Ratio Comparison

The current RWR Sharpe Ratio is 1.37, which is higher than the VGSLX Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of RWR and VGSLX, 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. VGSLX - Drawdown Comparison

The maximum RWR drawdown since its inception was -74.92%, roughly equal to the maximum VGSLX drawdown of -73.05%. Use the drawdown chart below to compare losses from any high point for RWR and VGSLX.

Drawdown Indicators

	RWR	VGSLX	Difference
Max Drawdown Largest peak-to-trough decline	-74.92%	-73.05%	-1.87%
Max Drawdown (1Y) Largest decline over 1 year	-8.04%	-8.33%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	-18.85%	-17.41%	-1.44%
Max Drawdown (5Y) Largest decline over 5 years	-32.58%	-34.41%	+1.83%
Max Drawdown (10Y) Largest decline over 10 years	-44.39%	-42.34%	-2.05%
Current Drawdown Current decline from peak	-1.74%	-3.02%	+1.28%
Average Drawdown Average peak-to-trough decline	-13.09%	-12.56%	-0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.38%	2.65%	-0.27%

Volatility

RWR vs. VGSLX - Volatility Comparison

SPDR Dow Jones REIT ETF (RWR) and Vanguard Real Estate Index Fund Admiral Shares (VGSLX) have volatilities of 5.27% and 5.10%, 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	VGSLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.27%	5.10%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	10.32%	10.12%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	14.03%	13.76%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.04%	18.93%	+0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.55%	20.88%	+0.67%

RWR vs. VGSLX - Expense Ratio Comparison

RWR has a 0.25% expense ratio, which is higher than VGSLX's 0.13% 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. VGSLX - Dividend Comparison

RWR's dividend yield for the trailing twelve months is around 4.23%, more than VGSLX's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RWR SPDR Dow Jones REIT ETF	4.23%	3.78%	3.76%	3.75%	3.81%	2.79%	3.73%	3.36%	4.19%	3.05%	4.39%	3.17%
VGSLX Vanguard Real Estate Index Fund Admiral Shares	3.65%	3.92%	3.85%	3.91%	3.91%	2.56%	3.92%	3.39%	4.73%	4.23%	4.82%	3.92%

Frequently Asked Questions

Can I hold both RWR and VGSLX in my portfolio?

With a correlation of 0.95, RWR and VGSLX 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.

Which is riskier, RWR or VGSLX?

RWR has higher volatility (5.27%) compared to VGSLX (5.10%). In terms of maximum drawdown, RWR dropped -74.92% vs VGSLX's -73.05%.

Which has better risk-adjusted returns?

RWR currently has the higher Sharpe Ratio (1.37 vs 0.77), 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.