RWR vs. XLI

Last updated Jun 13, 2026

RWR (SPDR Dow Jones REIT ETF) and XLI (Industrial Select Sector SPDR Fund) are both exchange-traded funds - RWR is a REIT fund tracking the Dow Jones U.S. Select REIT Index, while XLI is a Industrials Equities fund tracking the Industrial Select Sector Index. Both are passively managed. Over the past 10 years, RWR returned 5.69%/yr vs 14.15%/yr for XLI. A 0.57 correlation means they provide meaningful diversification when combined. RWR charges 0.25%/yr vs 0.08%/yr for XLI.

Performance

RWR vs. XLI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Dow Jones REIT ETF (RWR) and Industrial Select Sector SPDR Fund (XLI). 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 XLI's 13.90% return. Over the past 10 years, RWR has underperformed XLI with an annualized return of 5.69%, while XLI has yielded a comparatively higher 14.15% 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%

XLI

• 1D: 0.59%
• 1M: 1.47%
• YTD: 13.90%
• 6M: 13.10%
• 1Y: 24.12%
• 3Y*: 20.87%
• 5Y*: 12.93%
• 10Y*: 14.15%

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

RWR vs. XLI - 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%
XLI Industrial Select Sector SPDR Fund	13.90%	19.35%	17.31%	18.13%	-5.57%	21.08%	10.91%	29.08%	-13.25%	23.98%

Correlation

The correlation between RWR and XLI is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Apr 27, 2001	0.57

The correlation between RWR and XLI shifts across timeframes, from 0.48 (1 year) to 0.64 (5 years), reflecting how their relationship changes across market environments.

RWR vs. XLI - Sectors Allocation Comparison

Sectors	RWR	XLI
Real Estate	98.6%	-
Financial Services	0.0%	-
Utilities	0.0%	4.8%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	0.5%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	90.7%
Technology	-	4.0%

Return for Risk

RWR vs. XLI — 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

XLI

XLI Risk / Return Rank: 48
XLI Sharpe Ratio Rank: 49
XLI Sortino Ratio Rank: 50
XLI Omega Ratio Rank: 46
XLI Calmar Ratio Rank: 45
XLI Martin Ratio Rank: 52

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. XLI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones REIT ETF (RWR) and Industrial Select Sector SPDR Fund (XLI). 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	XLI	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.50	-0.04
Sortino ratio: Return per unit of downside risk	2.03	2.17	-0.14
Omega ratio: Gain probability vs. loss probability	1.25	1.26	-0.01
Calmar ratio: Return relative to maximum drawdown	2.49	1.98	+0.50
Martin ratio: Return relative to average drawdown	8.47	7.82	+0.65

RWR vs. XLI - Sharpe Ratio Comparison

The current RWR Sharpe Ratio is 1.46, which is comparable to the XLI Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of RWR and XLI, 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. XLI - Drawdown Comparison

The maximum RWR drawdown since its inception was -74.92%, which is greater than XLI's maximum drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for RWR and XLI.

Drawdown Indicators

	RWR	XLI	Difference
Max Drawdown Largest peak-to-trough decline	-74.92%	-62.26%	-12.66%
Max Drawdown (1Y) Largest decline over 1 year	-8.04%	-12.21%	+4.17%
Max Drawdown (3Y) Largest decline over 3 years	-18.85%	-18.49%	-0.36%
Max Drawdown (5Y) Largest decline over 5 years	-32.58%	-21.64%	-10.94%
Max Drawdown (10Y) Largest decline over 10 years	-44.39%	-42.33%	-2.06%
Current Drawdown Current decline from peak	0.00%	-1.24%	+1.24%
Average Drawdown Average peak-to-trough decline	-13.09%	-9.20%	-3.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	3.09%	-0.73%

Volatility

RWR vs. XLI - Volatility Comparison

The current volatility for SPDR Dow Jones REIT ETF (RWR) is 4.93%, while Industrial Select Sector SPDR Fund (XLI) has a volatility of 6.22%. This indicates that RWR experiences smaller price fluctuations and is considered to be less risky than XLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWR	XLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.93%	6.22%	-1.29%
Volatility (6M) Calculated over the trailing 6-month period	9.94%	13.59%	-3.65%
Volatility (1Y) Calculated over the trailing 1-year period	13.72%	16.17%	-2.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.04%	17.55%	+1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.52%	20.04%	+1.48%

RWR vs. XLI - Expense Ratio Comparison

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

RWR's dividend yield for the trailing twelve months is around 3.27%, more than XLI's 1.16% 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%
XLI Industrial Select Sector SPDR Fund	1.16%	1.29%	1.44%	1.63%	1.63%	1.25%	1.55%	1.94%	2.15%	1.77%	2.07%	2.15%

Frequently Asked Questions

Can I hold both RWR and XLI in my portfolio?

RWR and XLI have a correlation of 0.48, 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 XLI?

XLI has higher volatility (6.22%) compared to RWR (4.93%). In terms of maximum drawdown, RWR dropped -74.92% vs XLI's -62.26%.

Which ETF is better, RWR or XLI?

On 10-year performance, XLI leads with 14.15% vs 5.69% for RWR. On fees, XLI is cheaper at 0.08% 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 XLI?

Over the 10-year period, XLI has performed better with a 14.15% 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 XLI?

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

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

RWR has the higher dividend yield at 3.27%, compared with 1.16% for XLI.

What is the main difference between RWR and XLI?

RWR is categorized as REIT, while XLI is Industrials Equities. RWR tracks Dow Jones U.S. Select REIT Index, while XLI tracks Industrial Select Sector Index. Their fees differ too: 0.25% for RWR and 0.08% for XLI.

Which has better risk-adjusted returns?

XLI currently has the higher Sharpe Ratio (1.50 vs 1.46), 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.