TRET.L vs. RWO

Last updated Jun 5, 2026

TRET.L (VanEck Global Real Estate UCITS ETF) and RWO (SPDR Dow Jones Global Real Estate ETF) are both REIT funds - TRET.L tracks the GPR Global 100 Index while RWO tracks the Dow Jones Global Select Real Estate Securities Index. Both are passively managed. Over the past 5 years, TRET.L returned 2.34%/yr vs 2.16%/yr for RWO. A 0.62 correlation means they provide meaningful diversification when combined. TRET.L charges 0.25%/yr vs 0.50%/yr for RWO.

Performance

TRET.L vs. RWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Global Real Estate UCITS ETF (TRET.L) and SPDR Dow Jones Global Real Estate ETF (RWO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRET.L achieves a 4.02% return, which is significantly lower than RWO's 9.15% return.

TRET.L

• 1D: 0.22%
• 1M: -2.23%
• YTD: 4.02%
• 6M: 3.83%
• 1Y: 10.68%
• 3Y*: 10.83%
• 5Y*: 2.34%
• 10Y*: —

RWO

• 1D: 1.12%
• 1M: -0.43%
• YTD: 9.15%
• 6M: 8.96%
• 1Y: 13.90%
• 3Y*: 10.09%
• 5Y*: 2.16%
• 10Y*: 3.58%

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

TRET.L vs. RWO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TRET.L VanEck Global Real Estate UCITS ETF	4.02%	14.43%	1.05%	13.94%	-25.68%	29.73%	-6.91%	10.01%
RWO SPDR Dow Jones Global Real Estate ETF	9.15%	8.87%	1.76%	10.91%	-25.11%	31.03%	-10.44%	14.42%

Correlation

The correlation between TRET.L and RWO is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jan 21, 2019	0.62

The correlation between TRET.L and RWO has been stable across timeframes, ranging from 0.60 to 0.62 - a consistent structural relationship.

TRET.L vs. RWO - Sectors Allocation Comparison

Sectors	TRET.L	RWO
Real Estate	99.9%	89.3%
Consumer Cyclical	0.1%	0.8%
Financial Services	0.0%	0.8%
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	0.3%
Healthcare	-	0.4%
Industrials	-	0.2%
Technology	-	0.7%
Utilities	-	0.0%

Return for Risk

TRET.L vs. RWO — Risk / Return Rank

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

TRET.L

TRET.L Risk / Return Rank: 24
TRET.L Sharpe Ratio Rank: 24
TRET.L Sortino Ratio Rank: 25
TRET.L Omega Ratio Rank: 24
TRET.L Calmar Ratio Rank: 23
TRET.L Martin Ratio Rank: 26

RWO

RWO Risk / Return Rank: 32
RWO Sharpe Ratio Rank: 31
RWO Sortino Ratio Rank: 29
RWO Omega Ratio Rank: 30
RWO Calmar Ratio Rank: 31
RWO Martin Ratio Rank: 37

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.

TRET.L vs. RWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Global Real Estate UCITS ETF (TRET.L) and SPDR Dow Jones Global Real Estate ETF (RWO). 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.

	TRET.L	RWO	Difference
Sharpe ratio: Return per unit of total volatility	0.86	1.10	-0.23
Sortino ratio: Return per unit of downside risk	1.31	1.55	-0.24
Omega ratio: Gain probability vs. loss probability	1.15	1.19	-0.04
Calmar ratio: Return relative to maximum drawdown	1.01	1.47	-0.45
Martin ratio: Return relative to average drawdown	3.55	5.68	-2.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRET.L vs. RWO - Sharpe Ratio Comparison

The current TRET.L Sharpe Ratio is 0.86, which is comparable to the RWO Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of TRET.L and RWO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TRET.L	RWO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	1.10	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	0.13	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.20	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.17	+0.05

Drawdowns

TRET.L vs. RWO - Drawdown Comparison

The maximum TRET.L drawdown since its inception was -42.26%, smaller than the maximum RWO drawdown of -67.69%. Use the drawdown chart below to compare losses from any high point for TRET.L and RWO.

Drawdown Indicators

	TRET.L	RWO	Difference
Max Drawdown Largest peak-to-trough decline	-42.26%	-67.69%	+25.43%
Max Drawdown (1Y) Largest decline over 1 year	-10.49%	-9.51%	-0.98%
Max Drawdown (3Y) Largest decline over 3 years	-16.92%	-17.66%	+0.74%
Max Drawdown (5Y) Largest decline over 5 years	-33.35%	-32.85%	-0.50%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.27%	—
Current Drawdown Current decline from peak	-5.89%	-2.14%	-3.75%
Average Drawdown Average peak-to-trough decline	-11.96%	-12.68%	+0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.45%	+0.55%

Volatility

TRET.L vs. RWO - Volatility Comparison

VanEck Global Real Estate UCITS ETF (TRET.L) and SPDR Dow Jones Global Real Estate ETF (RWO) have volatilities of 3.91% and 4.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRET.L	RWO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.91%	4.06%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	9.60%	9.39%	+0.21%
Volatility (1Y) Calculated over the trailing 1-year period	12.33%	12.72%	-0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.82%	17.04%	-0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.18%	18.21%	+0.97%

TRET.L vs. RWO - Expense Ratio Comparison

TRET.L has a 0.25% expense ratio, which is lower than RWO's 0.50% expense ratio.

Dividends

TRET.L vs. RWO - Dividend Comparison

TRET.L's dividend yield for the trailing twelve months is around 3.49%, more than RWO's 3.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RWO SPDR Dow Jones Global Real Estate ETF	3.31%	3.62%	3.68%	3.53%	3.69%	2.79%	3.25%	3.97%	3.90%	3.26%	3.77%	2.97%
TRET.L VanEck Global Real Estate UCITS ETF	3.49%	3.54%	3.56%	3.54%	4.56%	1.86%	4.18%	0.62%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TRET.L and RWO in my portfolio?

TRET.L and RWO have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TRET.L or RWO?

On fees, TRET.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TRET.L or RWO?

TRET.L is cheaper with a 0.25% expense ratio, compared with 0.50% for RWO.

What is the main difference between TRET.L and RWO?

TRET.L tracks GPR Global 100 Index, while RWO tracks Dow Jones Global Select Real Estate Securities Index. They also come from different issuers: VanEck and State Street. Their fees differ too: 0.25% for TRET.L and 0.50% for RWO.