RWR vs. XLRE
RWR (SPDR Dow Jones REIT ETF) and XLRE (Real Estate Select Sector SPDR Fund) are both REIT funds from State Street - RWR tracks the Dow Jones U.S. Select REIT Index while XLRE tracks the Real Estate Select Sector Index. Both are passively managed. Over the past 10 years, RWR returned 5.05%/yr vs 6.29%/yr for XLRE. Their correlation of 0.94 suggests significant overlap in exposure. RWR charges 0.25%/yr vs 0.13%/yr for XLRE.
Performance
RWR vs. XLRE - Performance Comparison
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Returns By Period
In the year-to-date period, RWR achieves a 18.45% return, which is significantly higher than XLRE's 12.50% return. Over the past 10 years, RWR has underperformed XLRE with an annualized return of 5.05%, while XLRE has yielded a comparatively higher 6.29% annualized return.
RWR
- 1D
- 0.67%
- 1M
- 1.53%
- 6M
- 16.74%
- YTD
- 18.45%
- 1Y
- 22.28%
- 3Y*
- 11.14%
- 5Y*
- 4.74%
- 10Y*
- 5.05%
XLRE
- 1D
- 0.56%
- 1M
- -0.59%
- 6M
- 11.76%
- YTD
- 12.50%
- 1Y
- 11.24%
- 3Y*
- 8.48%
- 5Y*
- 2.76%
- 10Y*
- 6.29%
RWR vs. XLRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RWR SPDR Dow Jones REIT ETF | 18.45% | 3.20% | 7.74% | 13.76% | -26.09% | 45.47% | -11.40% | 22.71% | -4.47% | 3.47% |
XLRE Real Estate Select Sector SPDR Fund | 12.50% | 2.63% | 5.09% | 12.36% | -26.25% | 46.10% | -2.18% | 28.68% | -2.39% | 10.69% |
Correlation
The correlation between RWR and XLRE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2015 | 0.94 |
The correlation between RWR and XLRE has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
RWR vs. XLRE — Risk / Return Rank
RWR
XLRE
RWR vs. XLRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones REIT ETF (RWR) and Real Estate Select Sector SPDR Fund (XLRE). 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 | XLRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.14 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 1.35 | +1.43 |
| Martin ratioReturn relative to average drawdown | 9.46 | 3.72 | +5.74 |
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Drawdowns
RWR vs. XLRE - Drawdown Comparison
The maximum RWR drawdown since its inception was -74.92%, which is greater than XLRE's maximum drawdown of -38.83%. Use the drawdown chart below to compare losses from any high point for RWR and XLRE.
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Drawdown Indicators
| RWR | XLRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.92% | -38.83% | -36.09% |
Max Drawdown (1Y)Largest decline over 1 year | -8.04% | -8.33% | +0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -18.85% | -16.74% | -2.11% |
Max Drawdown (5Y)Largest decline over 5 years | -32.58% | -34.12% | +1.54% |
Max Drawdown (10Y)Largest decline over 10 years | -44.39% | -38.83% | -5.56% |
Current DrawdownCurrent decline from peak | -0.90% | -1.19% | +0.29% |
Average DrawdownAverage peak-to-trough decline | -13.06% | -9.52% | -3.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.36% | 3.03% | -0.67% |
Volatility
RWR vs. XLRE - Volatility Comparison
The current volatility for SPDR Dow Jones REIT ETF (RWR) is 4.89%, while Real Estate Select Sector SPDR Fund (XLRE) has a volatility of 5.20%. This indicates that RWR experiences smaller price fluctuations and is considered to be less risky than XLRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RWR | XLRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.89% | 5.20% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 10.70% | 11.06% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.12% | 14.31% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.06% | 19.17% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.55% | 20.45% | +1.10% |
RWR vs. XLRE - Expense Ratio Comparison
RWR has a 0.25% expense ratio, which is higher than XLRE'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. XLRE - Dividend Comparison
RWR's dividend yield for the trailing twelve months is around 3.30%, more than XLRE's 3.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RWR SPDR Dow Jones REIT ETF | 3.30% | 3.78% | 3.76% | 3.75% | 3.81% | 2.79% | 3.73% | 3.36% | 4.19% | 3.05% | 4.39% | 3.17% |
XLRE Real Estate Select Sector SPDR Fund | 3.14% | 3.45% | 3.43% | 3.31% | 3.70% | 2.61% | 3.15% | 3.06% | 3.78% | 3.25% | 4.22% | 1.09% |
Frequently Asked Questions
With a correlation of 0.93, RWR and XLRE 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.
XLRE has higher volatility (5.20%) compared to RWR (4.89%). In terms of maximum drawdown, RWR dropped -74.92% vs XLRE's -38.83%.
On 10-year performance, XLRE leads with 6.29% vs 5.05% for RWR. On fees, XLRE is cheaper at 0.13% per year. On volatility, RWR has been the lower-risk option at 4.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLRE has performed better with a 6.29% return vs 5.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLRE is cheaper with a 0.13% expense ratio, compared with 0.25% for RWR.
RWR has the higher dividend yield at 3.30%, compared with 3.14% for XLRE.
RWR tracks Dow Jones U.S. Select REIT Index, while XLRE tracks Real Estate Select Sector Index. Their fees differ too: 0.25% for RWR and 0.13% for XLRE.
RWR currently has the higher Sharpe Ratio (1.59 vs 0.79), 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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