XLRE vs. BBRE
XLRE (Real Estate Select Sector SPDR Fund) and BBRE (JPMorgan BetaBuilders MSCI US REIT ETF) are both REIT funds - XLRE tracks the Real Estate Select Sector Index while BBRE tracks the MSCI US REIT Index. Both are passively managed. Over the past 5 years, XLRE returned 3.32%/yr vs 5.13%/yr for BBRE. Their correlation of 0.93 suggests significant overlap in exposure. XLRE charges 0.13%/yr vs 0.11%/yr for BBRE.
Performance
XLRE vs. BBRE - Performance Comparison
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Returns By Period
In the year-to-date period, XLRE achieves a 12.02% return, which is significantly lower than BBRE's 17.09% return.
XLRE
- 1D
- -0.29%
- 1M
- 0.76%
- YTD
- 12.02%
- 6M
- 11.78%
- 1Y
- 8.96%
- 3Y*
- 11.20%
- 5Y*
- 3.32%
- 10Y*
- 6.89%
BBRE
- 1D
- 0.17%
- 1M
- 2.09%
- YTD
- 17.09%
- 6M
- 16.78%
- 1Y
- 17.71%
- 3Y*
- 13.72%
- 5Y*
- 5.13%
- 10Y*
- —
XLRE vs. BBRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
XLRE Real Estate Select Sector SPDR Fund | 12.02% | 2.63% | 5.09% | 12.36% | -26.25% | 46.10% | -2.18% | 28.68% | 0.65% |
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 17.09% | 2.09% | 8.24% | 13.85% | -24.68% | 42.99% | -7.55% | 26.06% | -2.41% |
Correlation
The correlation between XLRE and BBRE 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 (All Time) Calculated using the full available price history since Jun 18, 2018 | 0.93 |
The correlation between XLRE and BBRE has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
XLRE vs. BBRE — Risk / Return Rank
XLRE
BBRE
XLRE vs. BBRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Real Estate Select Sector SPDR Fund (XLRE) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE). 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.
| XLRE | BBRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.22 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 2.20 | -1.12 |
| Martin ratioReturn relative to average drawdown | 2.98 | 7.01 | -4.02 |
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Drawdowns
XLRE vs. BBRE - Drawdown Comparison
The maximum XLRE drawdown since its inception was -38.83%, smaller than the maximum BBRE drawdown of -43.61%. Use the drawdown chart below to compare losses from any high point for XLRE and BBRE.
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Drawdown Indicators
| XLRE | BBRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.83% | -43.61% | +4.78% |
Max Drawdown (1Y)Largest decline over 1 year | -8.33% | -8.07% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -16.74% | -18.92% | +2.18% |
Max Drawdown (5Y)Largest decline over 5 years | -34.12% | -31.15% | -2.97% |
Max Drawdown (10Y)Largest decline over 10 years | -38.83% | — | — |
Current DrawdownCurrent decline from peak | -1.01% | -0.10% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -9.56% | -10.45% | +0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 2.57% | +0.47% |
Volatility
XLRE vs. BBRE - Volatility Comparison
Real Estate Select Sector SPDR Fund (XLRE) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) have volatilities of 5.36% and 5.32%, 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.
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Volatility by Period
| XLRE | BBRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.36% | 5.32% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 10.63% | 10.27% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.10% | 13.97% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.13% | 18.82% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.44% | 22.54% | -2.10% |
XLRE vs. BBRE - Expense Ratio Comparison
XLRE has a 0.13% expense ratio, which is higher than BBRE's 0.11% 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
XLRE vs. BBRE - Dividend Comparison
XLRE's dividend yield for the trailing twelve months is around 3.16%, more than BBRE's 2.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 2.65% | 3.24% | 3.19% | 3.68% | 2.62% | 1.70% | 3.17% | 2.19% | 1.96% | 0.00% | 0.00% | 0.00% |
XLRE Real Estate Select Sector SPDR Fund | 3.16% | 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, XLRE and BBRE 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 (5.36%) compared to BBRE (5.32%). In terms of maximum drawdown, XLRE dropped -38.83% vs BBRE's -43.61%.
On 5-year performance, BBRE leads with 5.13% vs 3.32% for XLRE. On fees, BBRE is cheaper at 0.11% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BBRE has performed better with a 5.13% return vs 3.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBRE is cheaper with a 0.11% expense ratio, compared with 0.13% for XLRE.
XLRE has the higher dividend yield at 3.16%, compared with 2.65% for BBRE.
XLRE tracks Real Estate Select Sector Index, while BBRE tracks MSCI US REIT Index. They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.13% for XLRE and 0.11% for BBRE.
BBRE currently has the higher Sharpe Ratio (1.27 vs 0.64), 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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