VGSLX vs. RWR
VGSLX (Vanguard Real Estate Index Fund Admiral Shares) and RWR (State Street SPDR Dow Jones REIT ETF) are both REIT funds - VGSLX tracks the MSCI US Investable Market Real Estate 25/50 Index while RWR tracks the Dow Jones U.S. Select REIT Capped Index. Both are passively managed. Over the past 10 years, VGSLX returned 4.76%/yr vs 5.04%/yr for RWR. Their 0.97 correlation means they have historically moved very closely together. VGSLX charges 0.13%/yr vs 0.25%/yr for RWR.
Performance
VGSLX vs. RWR - Performance Comparison
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Returns By Period
In the year-to-date period, VGSLX achieves a 14.64% return, which is significantly lower than RWR's 19.80% return. Over the past 10 years, VGSLX has underperformed RWR with an annualized return of 4.76%, while RWR has yielded a comparatively higher 5.04% annualized return.
VGSLX
- 1D
- -1.21%
- 1M
- 1.45%
- 6M
- 11.69%
- YTD
- 14.64%
- 1Y
- 16.19%
- 3Y*
- 9.52%
- 5Y*
- 2.54%
- 10Y*
- 4.76%
- ALL TIME*
- 8.97%
RWR
- 1D
- -0.40%
- 1M
- 0.66%
- 6M
- 16.61%
- YTD
- 19.80%
- 1Y
- 26.30%
- 3Y*
- 11.91%
- 5Y*
- 4.74%
- 10Y*
- 5.04%
- ALL TIME*
- 8.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $43.72M | $37.86M | $34.73M | |
| $0.00 | $0.00 | $0.00 |
VGSLX vs. RWR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGSLX Vanguard Real Estate Index Fund Admiral Shares | 14.64% | 3.18% | 3.67% | 13.13% | -26.20% | 40.39% | -4.75% | 28.90% | -5.99% | 4.91% |
RWR State Street SPDR Dow Jones REIT ETF | 19.80% | 3.20% | 7.74% | 13.76% | -26.09% | 45.47% | -11.40% | 22.71% | -4.47% | 3.47% |
Correlation
The correlation between VGSLX and RWR is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.96 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001 | 0.97 |
The correlation between VGSLX and RWR has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
VGSLX vs. RWR — Risk / Return Rank
VGSLX
RWR
VGSLX vs. RWR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate Index Fund Admiral Shares (VGSLX) and State Street SPDR Dow Jones REIT ETF (RWR). 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.
| VGSLX | RWR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.32 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 3.21 | -1.49 |
| Martin ratioReturn relative to average drawdown | 5.59 | 11.41 | -5.82 |
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Drawdowns
VGSLX vs. RWR - Drawdown Comparison
The maximum VGSLX drawdown since its inception was -73.05%, roughly equal to the maximum RWR drawdown of -74.92%. Use the drawdown chart below to compare losses from any high point for VGSLX and RWR.
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Drawdown Indicators
| VGSLX | RWR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.05% | -74.92% | +1.87% |
Max Drawdown (1Y)Largest decline over 1 year | -8.33% | -8.04% | -0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -17.41% | -18.85% | +1.44% |
Max Drawdown (5Y)Largest decline over 5 years | -34.41% | -32.58% | -1.83% |
Max Drawdown (10Y)Largest decline over 10 years | -42.34% | -44.39% | +2.05% |
Current DrawdownCurrent decline from peak | -1.41% | -2.72% | +1.31% |
Average DrawdownAverage peak-to-trough decline | -12.50% | -13.03% | +0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 2.26% | +0.31% |
Volatility
VGSLX vs. RWR - Volatility Comparison
The current volatility for Vanguard Real Estate Index Fund Admiral Shares (VGSLX) is 4.43%, while State Street SPDR Dow Jones REIT ETF (RWR) has a volatility of 4.99%. This indicates that VGSLX experiences smaller price fluctuations and is considered to be less risky than RWR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGSLX | RWR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.43% | 4.99% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 10.79% | 10.99% | -0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.95% | 14.14% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.95% | 19.05% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.90% | 21.57% | -0.67% |
VGSLX vs. RWR - Expense Ratio Comparison
VGSLX has a 0.13% expense ratio, which is lower than RWR's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VGSLX vs. RWR - Dividend Comparison
VGSLX's dividend yield for the trailing twelve months is around 3.49%, more than RWR's 3.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RWR State Street SPDR Dow Jones REIT ETF | 3.26% | 3.78% | 3.76% | 3.75% | 3.81% | 2.79% | 3.73% | 3.36% | 4.19% | 3.05% | 4.39% | 3.17% |
VGSLX Vanguard Real Estate Index Fund Admiral Shares | 3.49% | 3.92% | 3.85% | 3.91% | 3.91% | 2.56% | 3.92% | 3.39% | 4.73% | 4.23% | 4.82% | 3.92% |
Frequently Asked Questions
With a correlation of 0.96, VGSLX and RWR 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.
RWR has higher volatility (4.99%) compared to VGSLX (4.43%). In terms of maximum drawdown, VGSLX dropped -73.05% vs RWR's -74.92%.
RWR currently has the higher Sharpe Ratio (1.84 vs 1.04), 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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