RWR vs. VPU

Last updated Jun 13, 2026

RWR (SPDR Dow Jones REIT ETF) and VPU (Vanguard Utilities ETF) are both exchange-traded funds - RWR is a REIT fund tracking the Dow Jones U.S. Select REIT Index, while VPU is a Utilities Equities fund tracking the MSCI US Investable Market Utilities 25/50 Index. Both are passively managed. Over the past 10 years, RWR returned 5.69%/yr vs 9.06%/yr for VPU. A 0.58 correlation means they provide meaningful diversification when combined. RWR charges 0.25%/yr vs 0.09%/yr for VPU.

Performance

RWR vs. VPU - Performance Comparison

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

Returns By Period

In the year-to-date period, RWR achieves a 16.67% return, which is significantly higher than VPU's 4.93% return. Over the past 10 years, RWR has underperformed VPU with an annualized return of 5.69%, while VPU has yielded a comparatively higher 9.06% annualized return.

RWR

• 1D: 0.93%
• 1M: 3.35%
• YTD: 16.67%
• 6M: 16.81%
• 1Y: 19.90%
• 3Y*: 12.26%
• 5Y*: 4.59%
• 10Y*: 5.69%

VPU

• 1D: 1.15%
• 1M: -0.33%
• YTD: 4.93%
• 6M: 5.15%
• 1Y: 11.89%
• 3Y*: 13.65%
• 5Y*: 9.17%
• 10Y*: 9.06%

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

RWR vs. VPU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RWR SPDR Dow Jones REIT ETF	16.67%	3.20%	7.74%	13.76%	-26.09%	45.47%	-11.40%	22.71%	-4.47%	3.47%
VPU Vanguard Utilities ETF	4.93%	16.46%	23.04%	-7.45%	1.06%	17.40%	-0.74%	24.89%	4.38%	12.44%

Correlation

The correlation between RWR and VPU is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.58

The correlation between RWR and VPU shifts across timeframes, from 0.46 (1 year) to 0.60 (5 years), reflecting how their relationship changes across market environments.

RWR vs. VPU - Sectors Allocation Comparison

Sectors	RWR	VPU
Real Estate	98.6%	-
Financial Services	0.0%	-
Utilities	0.0%	99.3%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	0.5%
Healthcare	-	-
Industrials	-	0.2%
Technology	-	-

Return for Risk

RWR vs. VPU — Risk / Return Rank

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

RWR

RWR Risk / Return Rank: 50
RWR Sharpe Ratio Rank: 48
RWR Sortino Ratio Rank: 46
RWR Omega Ratio Rank: 44
RWR Calmar Ratio Rank: 57
RWR Martin Ratio Rank: 55

VPU

VPU Risk / Return Rank: 26
VPU Sharpe Ratio Rank: 26
VPU Sortino Ratio Rank: 24
VPU Omega Ratio Rank: 25
VPU Calmar Ratio Rank: 31
VPU Martin Ratio Rank: 24

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. VPU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones REIT ETF (RWR) and Vanguard Utilities ETF (VPU). 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	VPU	Difference
Sharpe ratio: Return per unit of total volatility	1.46	0.83	+0.63
Sortino ratio: Return per unit of downside risk	2.03	1.20	+0.83
Omega ratio: Gain probability vs. loss probability	1.25	1.15	+0.10
Calmar ratio: Return relative to maximum drawdown	2.49	1.34	+1.15
Martin ratio: Return relative to average drawdown	8.47	2.91	+5.56

RWR vs. VPU - Sharpe Ratio Comparison

The current RWR Sharpe Ratio is 1.46, which is higher than the VPU Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of RWR and VPU, 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. VPU - Drawdown Comparison

The maximum RWR drawdown since its inception was -74.92%, which is greater than VPU's maximum drawdown of -46.31%. Use the drawdown chart below to compare losses from any high point for RWR and VPU.

Drawdown Indicators

	RWR	VPU	Difference
Max Drawdown Largest peak-to-trough decline	-74.92%	-46.31%	-28.61%
Max Drawdown (1Y) Largest decline over 1 year	-8.04%	-8.90%	+0.86%
Max Drawdown (3Y) Largest decline over 3 years	-18.85%	-17.34%	-1.51%
Max Drawdown (5Y) Largest decline over 5 years	-32.58%	-25.15%	-7.43%
Max Drawdown (10Y) Largest decline over 10 years	-44.39%	-36.42%	-7.97%
Current Drawdown Current decline from peak	0.00%	-5.69%	+5.69%
Average Drawdown Average peak-to-trough decline	-13.09%	-7.78%	-5.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	4.10%	-1.74%

Volatility

RWR vs. VPU - Volatility Comparison

The current volatility for SPDR Dow Jones REIT ETF (RWR) is 4.93%, while Vanguard Utilities ETF (VPU) has a volatility of 5.55%. This indicates that RWR experiences smaller price fluctuations and is considered to be less risky than VPU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWR	VPU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.93%	5.55%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	9.94%	11.52%	-1.58%
Volatility (1Y) Calculated over the trailing 1-year period	13.72%	14.41%	-0.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.04%	17.07%	+1.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.52%	19.13%	+2.39%

RWR vs. VPU - Expense Ratio Comparison

RWR has a 0.25% expense ratio, which is higher than VPU's 0.09% 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. VPU - Dividend Comparison

RWR's dividend yield for the trailing twelve months is around 3.27%, more than VPU's 2.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RWR SPDR Dow Jones REIT ETF	3.27%	3.78%	3.76%	3.75%	3.81%	2.79%	3.73%	3.36%	4.19%	3.05%	4.39%	3.17%
VPU Vanguard Utilities ETF	2.64%	2.73%	3.02%	3.49%	2.98%	2.70%	3.17%	2.83%	3.23%	3.18%	3.19%	3.63%

Frequently Asked Questions

Can I hold both RWR and VPU in my portfolio?

RWR and VPU have a correlation of 0.46, 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 VPU?

VPU has higher volatility (5.55%) compared to RWR (4.93%). In terms of maximum drawdown, RWR dropped -74.92% vs VPU's -46.31%.

Which ETF is better, RWR or VPU?

On 10-year performance, VPU leads with 9.06% vs 5.69% for RWR. On fees, VPU is cheaper at 0.09% per year. On volatility, RWR has been the lower-risk option at 4.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RWR or VPU?

Over the 10-year period, VPU has performed better with a 9.06% return vs 5.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWR or VPU?

VPU is cheaper with a 0.09% expense ratio, compared with 0.25% for RWR.

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

RWR has the higher dividend yield at 3.27%, compared with 2.64% for VPU.

What is the main difference between RWR and VPU?

RWR is categorized as REIT, while VPU is Utilities Equities. RWR tracks Dow Jones U.S. Select REIT Index, while VPU tracks MSCI US Investable Market Utilities 25/50 Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.25% for RWR and 0.09% for VPU.

Which has better risk-adjusted returns?

RWR currently has the higher Sharpe Ratio (1.46 vs 0.83), 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.