RWX vs. FIVA

Last updated Jun 23, 2026

RWX (SPDR DJ Wilshire International Real Estate ETF) and FIVA (Fidelity International Value Factor ETF) are both exchange-traded funds - RWX is a REIT fund tracking the Dow Jones Global ex-U.S. Real Estate Securities Index, while FIVA is a Foreign Large Cap Equities fund tracking the Fidelity International Value Factor Index. Both are passively managed. Over the past 5 years, RWX returned -2.62%/yr vs 13.94%/yr for FIVA. A 0.70 correlation means they provide meaningful diversification when combined. RWX charges 0.59%/yr vs 0.18%/yr for FIVA.

Performance

RWX vs. FIVA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR DJ Wilshire International Real Estate ETF (RWX) and Fidelity International Value Factor ETF (FIVA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RWX achieves a -3.84% return, which is significantly lower than FIVA's 15.93% return.

RWX

• 1D: -0.59%
• 1M: -2.41%
• YTD: -3.84%
• 6M: -3.04%
• 1Y: 2.91%
• 3Y*: 6.53%
• 5Y*: -2.62%
• 10Y*: 0.83%

FIVA

• 1D: 0.75%
• 1M: 4.11%
• YTD: 15.93%
• 6M: 16.68%
• 1Y: 41.51%
• 3Y*: 23.69%
• 5Y*: 13.94%
• 10Y*: —

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

RWX vs. FIVA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
RWX SPDR DJ Wilshire International Real Estate ETF	-3.84%	26.24%	-12.15%	6.25%	-21.84%	9.34%	-9.03%	19.88%	-10.54%
FIVA Fidelity International Value Factor ETF	15.93%	45.83%	2.53%	20.38%	-10.37%	15.90%	-1.78%	19.78%	-18.62%

Correlation

The correlation between RWX and FIVA is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 18, 2018	0.70

The correlation between RWX and FIVA has been stable across timeframes, ranging from 0.70 to 0.74 - a consistent structural relationship.

Return for Risk

RWX vs. FIVA — Risk / Return Rank

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

RWX

RWX Risk / Return Rank: 11
RWX Sharpe Ratio Rank: 11
RWX Sortino Ratio Rank: 10
RWX Omega Ratio Rank: 10
RWX Calmar Ratio Rank: 11
RWX Martin Ratio Rank: 11

FIVA

FIVA Risk / Return Rank: 80
FIVA Sharpe Ratio Rank: 85
FIVA Sortino Ratio Rank: 85
FIVA Omega Ratio Rank: 81
FIVA Calmar Ratio Rank: 73
FIVA Martin Ratio Rank: 76

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.

RWX vs. FIVA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR DJ Wilshire International Real Estate ETF (RWX) and Fidelity International Value Factor ETF (FIVA). 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.

	RWX	FIVA	Difference
Sharpe ratio: Return per unit of total volatility	0.22	2.65	-2.43
Sortino ratio: Return per unit of downside risk	0.40	3.62	-3.22
Omega ratio: Gain probability vs. loss probability	1.05	1.46	-0.42
Calmar ratio: Return relative to maximum drawdown	0.22	3.56	-3.35
Martin ratio: Return relative to average drawdown	0.57	13.94	-13.37

RWX vs. FIVA - Sharpe Ratio Comparison

The current RWX Sharpe Ratio is 0.22, which is lower than the FIVA Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of RWX and FIVA, 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

RWX vs. FIVA - Drawdown Comparison

The maximum RWX drawdown since its inception was -73.62%, which is greater than FIVA's maximum drawdown of -39.76%. Use the drawdown chart below to compare losses from any high point for RWX and FIVA.

Drawdown Indicators

	RWX	FIVA	Difference
Max Drawdown Largest peak-to-trough decline	-73.62%	-39.76%	-33.86%
Max Drawdown (1Y) Largest decline over 1 year	-13.58%	-11.71%	-1.87%
Max Drawdown (3Y) Largest decline over 3 years	-19.05%	-14.77%	-4.28%
Max Drawdown (5Y) Largest decline over 5 years	-35.91%	-28.70%	-7.21%
Max Drawdown (10Y) Largest decline over 10 years	-43.37%	—	—
Current Drawdown Current decline from peak	-15.20%	0.00%	-15.20%
Average Drawdown Average peak-to-trough decline	-20.28%	-7.74%	-12.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.11%	2.99%	+2.12%

Volatility

RWX vs. FIVA - Volatility Comparison

The current volatility for SPDR DJ Wilshire International Real Estate ETF (RWX) is 4.01%, while Fidelity International Value Factor ETF (FIVA) has a volatility of 5.52%. This indicates that RWX experiences smaller price fluctuations and is considered to be less risky than FIVA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWX	FIVA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	5.52%	-1.51%
Volatility (6M) Calculated over the trailing 6-month period	11.26%	13.24%	-1.98%
Volatility (1Y) Calculated over the trailing 1-year period	13.58%	15.80%	-2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.85%	16.43%	-0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.48%	17.93%	-1.45%

RWX vs. FIVA - Expense Ratio Comparison

RWX has a 0.59% expense ratio, which is higher than FIVA's 0.18% expense ratio.

Dividends

RWX vs. FIVA - Dividend Comparison

RWX's dividend yield for the trailing twelve months is around 5.09%, more than FIVA's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIVA Fidelity International Value Factor ETF	2.60%	2.68%	3.52%	3.63%	3.62%	3.76%	2.46%	3.61%	3.28%	0.00%	0.00%	0.00%
RWX SPDR DJ Wilshire International Real Estate ETF	5.09%	3.65%	4.32%	3.90%	4.05%	4.62%	2.92%	8.94%	5.28%	2.77%	8.74%	2.94%

Frequently Asked Questions

Can I hold both RWX and FIVA in my portfolio?

RWX and FIVA have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWX or FIVA?

FIVA has higher volatility (5.52%) compared to RWX (4.01%). In terms of maximum drawdown, RWX dropped -73.62% vs FIVA's -39.76%.

Which ETF is better, RWX or FIVA?

On 5-year performance, FIVA leads with 13.94% vs -2.62% for RWX. On fees, FIVA is cheaper at 0.18% per year. On volatility, RWX has been the lower-risk option at 4.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RWX or FIVA?

Over the 5-year period, FIVA has performed better with a 13.94% return vs -2.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWX or FIVA?

FIVA is cheaper with a 0.18% expense ratio, compared with 0.59% for RWX.

Which ETF pays a higher dividend yield, RWX or FIVA?

RWX has the higher dividend yield at 5.09%, compared with 2.60% for FIVA.

What is the main difference between RWX and FIVA?

RWX is categorized as REIT, while FIVA is Foreign Large Cap Equities. RWX tracks Dow Jones Global ex-U.S. Real Estate Securities Index, while FIVA tracks Fidelity International Value Factor Index. They also come from different issuers: State Street and Fidelity. Their fees differ too: 0.59% for RWX and 0.18% for FIVA.

Which has better risk-adjusted returns?

FIVA currently has the higher Sharpe Ratio (2.65 vs 0.22), 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.