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SLF.AX vs. STW.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SLF.AX vs. STW.AX

Last updated Jul 18, 2026
Documentation

SLF.AX (SPDR ETFs Australia - State Street SPDR S&P/ASX 200 Listed Property ETF) and STW.AX (SPDR S&P/ASX 200 ETF) are both exchange-traded funds - SLF.AX is a REIT fund tracking the SPDR Index, while STW.AX is a Large Cap Blend Equities fund tracking the S&P/ASX 200 Index. Both are passively managed. Over the past 10 years, SLF.AX returned 7.06%/yr vs 8.92%/yr for STW.AX. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

SLF.AX vs. STW.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in SPDR ETFs Australia - State Street SPDR S&P/ASX 200 Listed Property ETF (SLF.AX) and SPDR S&P/ASX 200 ETF (STW.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SLF.AX achieves a -8.20% return, which is significantly lower than STW.AX's 2.53% return. Over the past 10 years, SLF.AX has underperformed STW.AX with an annualized return of 7.06%, while STW.AX has yielded a comparatively higher 8.92% annualized return.

SLF.AX

1D
-0.33%
1M
-5.86%
6M
-9.00%
YTD
-8.20%
1Y
-7.58%
3Y*
9.76%
5Y*
6.67%
10Y*
7.06%

STW.AX

1D
-0.52%
1M
-1.85%
6M
0.18%
YTD
2.53%
1Y
5.00%
3Y*
10.21%
5Y*
7.62%
10Y*
8.92%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SLF.AX vs. STW.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SLF.AX
SPDR ETFs Australia - State Street SPDR S&P/ASX 200 Listed Property ETF		-8.20%8.02%19.77%21.15%-17.73%28.03%0.02%22.20%7.29%6.80%
STW.AX
SPDR S&P/ASX 200 ETF		2.53%10.21%11.50%12.18%-1.26%16.70%1.89%23.18%-2.92%11.55%

Correlation

The correlation between SLF.AX and STW.AX is 0.55, 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

0.55

Correlation (3Y)
Calculated over the trailing 3-year period

0.62

Correlation (5Y)
Calculated over the trailing 5-year period

0.61

Correlation (10Y)
Calculated over the trailing 10-year period

0.55

Correlation (All Time)
Calculated using the full available price history since Oct 31, 2006

0.54

The correlation between SLF.AX and STW.AX has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.

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SPDR ETFs Australia - State Street SPDR S&P/ASX 200 Listed Property ETF

SPDR S&P/ASX 200 ETF

Often compared with SLF.AX:
SLF.AX vs. SSO.AXSLF.AX vs. BOND.AXSLF.AX vs. DJRE.AXSLF.AX vs. GOVT.AXSLF.AX vs. MVA.AXSLF.AX vs. OZF.AXSLF.AX vs. OZR.AX
Often compared with STW.AX:
STW.AX vs. DJRE.AXSTW.AX vs. GOVT.AXSTW.AX vs. OZF.AXSTW.AX vs. OZR.AXSTW.AX vs. SFY.AXSTW.AX vs. SSO.AXSTW.AX vs. SPY.AX

Return for Risk

SLF.AX vs. STW.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SLF.AX
SLF.AX Risk / Return Rank: 66
Overall Rank
SLF.AX Sharpe Ratio Rank: 66
Sharpe Ratio Rank
SLF.AX Sortino Ratio Rank: 66
Sortino Ratio Rank
SLF.AX Omega Ratio Rank: 66
Omega Ratio Rank
SLF.AX Calmar Ratio Rank: 77
Calmar Ratio Rank
SLF.AX Martin Ratio Rank: 77
Martin Ratio Rank
STW.AX
STW.AX Risk / Return Rank: 1818
Overall Rank
STW.AX Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
STW.AX Sortino Ratio Rank: 1717
Sortino Ratio Rank
STW.AX Omega Ratio Rank: 1717
Omega Ratio Rank
STW.AX Calmar Ratio Rank: 1919
Calmar Ratio Rank
STW.AX Martin Ratio Rank: 1919
Martin Ratio Rank
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.

SLF.AX vs. STW.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR ETFs Australia - State Street SPDR S&P/ASX 200 Listed Property ETF (SLF.AX) and SPDR S&P/ASX 200 ETF (STW.AX). 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.

SLF.AXSTW.AXDifference
Sharpe ratioReturn per unit of total volatility
-0.40
0.40

-0.80

Sortino ratioReturn per unit of downside risk
-0.43
0.65

-1.09

Omega ratioGain probability vs. loss probability

0.95

1.08

-0.13

Calmar ratioReturn relative to maximum drawdown

-0.33

0.57

-0.90

Martin ratioReturn relative to average drawdown

-0.70

1.35

-2.05

SLF.AX vs. STW.AX - Sharpe Ratio Comparison

The current SLF.AX Sharpe Ratio is -0.40, which is lower than the STW.AX Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of SLF.AX and STW.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SLF.AX vs. STW.AX - Drawdown Comparison

The maximum SLF.AX drawdown since its inception was -75.42%, which is greater than STW.AX's maximum drawdown of -50.66%. Use the drawdown chart below to compare losses from any high point for SLF.AX and STW.AX.

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Drawdown Indicators

SLF.AXSTW.AXDifference

Max Drawdown

Largest peak-to-trough decline

-75.42%

-50.66%

-24.76%

Max Drawdown (1Y)

Largest decline over 1 year

-22.29%

-8.44%

-13.85%

Max Drawdown (3Y)

Largest decline over 3 years

-22.29%

-13.18%

-9.11%

Max Drawdown (5Y)

Largest decline over 5 years

-28.42%

-14.82%

-13.60%

Max Drawdown (10Y)

Largest decline over 10 years

-49.10%

-34.99%

-14.11%

Current Drawdown

Current decline from peak

-13.76%

-3.40%

-10.36%

Average Drawdown

Average peak-to-trough decline

-24.76%

-9.77%

-14.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.75%

3.61%

+7.14%

Volatility

SLF.AX vs. STW.AX - Volatility Comparison

SPDR ETFs Australia - State Street SPDR S&P/ASX 200 Listed Property ETF (SLF.AX) has a higher volatility of 4.08% compared to SPDR S&P/ASX 200 ETF (STW.AX) at 2.26%. This indicates that SLF.AX's price experiences larger fluctuations and is considered to be riskier than STW.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SLF.AXSTW.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.08%

2.26%

+1.82%

Volatility (6M)

Calculated over the trailing 6-month period

15.24%

9.93%

+5.31%

Volatility (1Y)

Calculated over the trailing 1-year period

18.69%

12.03%

+6.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.32%

12.69%

+7.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.58%

14.34%

+8.24%

Dividends

SLF.AX vs. STW.AX - Dividend Comparison

SLF.AX's dividend yield for the trailing twelve months is around 4.98%, more than STW.AX's 3.71% yield.

PositionTTM20252024202320222021202020192018201720162015
SLF.AX
SPDR ETFs Australia - State Street SPDR S&P/ASX 200 Listed Property ETF		4.98%4.33%4.15%11.34%11.20%7.47%9.34%8.99%13.05%5.78%3.81%3.29%
STW.AX
SPDR S&P/ASX 200 ETF		3.71%3.49%3.65%4.22%6.80%3.75%2.27%4.68%4.55%4.10%3.89%3.85%

Frequently Asked Questions

SLF.AX and STW.AX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SLF.AX is categorized as REIT, while STW.AX is Large Cap Blend Equities. SLF.AX tracks SPDR Index, while STW.AX tracks S&P/ASX 200 Index.

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