XLRE vs. BBRE

Last updated Jun 4, 2026

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 2.86%/yr vs 4.42%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in Real Estate Select Sector SPDR Fund (XLRE) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLRE achieves a 8.56% return, which is significantly lower than BBRE's 11.77% return.

XLRE

• 1D: 0.05%
• 1M: -1.29%
• YTD: 8.56%
• 6M: 7.82%
• 1Y: 8.12%
• 3Y*: 9.43%
• 5Y*: 2.86%
• 10Y*: 6.68%

BBRE

• 1D: 0.16%
• 1M: -0.16%
• YTD: 11.77%
• 6M: 10.56%
• 1Y: 14.11%
• 3Y*: 10.99%
• 5Y*: 4.42%
• 10Y*: —

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

XLRE vs. BBRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XLRE Real Estate Select Sector SPDR Fund	8.56%	2.63%	5.09%	12.36%	-26.25%	46.10%	-2.18%	28.68%	0.75%
BBRE JPMorgan BetaBuilders MSCI US REIT ETF	11.77%	2.09%	8.24%	13.85%	-24.68%	42.99%	-7.55%	26.06%	-2.60%

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 19, 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.

XLRE vs. BBRE - Sectors Allocation Comparison

Sectors	XLRE	BBRE
Real Estate	98.1%	98.9%
Basic Materials	1.8%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.1%
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

XLRE vs. BBRE — Risk / Return Rank

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

XLRE

XLRE Risk / Return Rank: 19
XLRE Sharpe Ratio Rank: 18
XLRE Sortino Ratio Rank: 17
XLRE Omega Ratio Rank: 17
XLRE Calmar Ratio Rank: 21
XLRE Martin Ratio Rank: 22

BBRE

BBRE Risk / Return Rank: 31
BBRE Sharpe Ratio Rank: 29
BBRE Sortino Ratio Rank: 27
BBRE Omega Ratio Rank: 27
BBRE Calmar Ratio Rank: 35
BBRE Martin Ratio Rank: 35

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.

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.

	XLRE	BBRE	Difference
Sharpe ratio: Return per unit of total volatility	0.61	1.06	-0.45
Sortino ratio: Return per unit of downside risk	0.90	1.50	-0.60
Omega ratio: Gain probability vs. loss probability	1.11	1.19	-0.07
Calmar ratio: Return relative to maximum drawdown	0.98	1.76	-0.78
Martin ratio: Return relative to average drawdown	2.69	5.54	-2.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLRE vs. BBRE - Sharpe Ratio Comparison

The current XLRE Sharpe Ratio is 0.61, which is lower than the BBRE Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of XLRE and BBRE, 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

	XLRE	BBRE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.61	1.06	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.24	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.31	+0.04

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.

Drawdown Indicators

	XLRE	BBRE	Difference
Max Drawdown Largest 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 Drawdown Current decline from peak	-2.98%	-3.12%	+0.14%
Average Drawdown Average peak-to-trough decline	-9.61%	-10.53%	+0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	2.55%	+0.48%

Volatility

XLRE vs. BBRE - Volatility Comparison

The current volatility for Real Estate Select Sector SPDR Fund (XLRE) is 3.71%, while JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) has a volatility of 3.99%. This indicates that XLRE experiences smaller price fluctuations and is considered to be less risky than BBRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLRE	BBRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.71%	3.99%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	9.66%	9.47%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	13.43%	13.39%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.06%	18.77%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.40%	22.56%	-2.16%

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 3.22%, more than BBRE's 2.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBRE JPMorgan BetaBuilders MSCI US REIT ETF	2.81%	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	3.22%	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

Can I hold both XLRE and BBRE in my portfolio?

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.

Which is riskier, XLRE or BBRE?

BBRE has higher volatility (3.99%) compared to XLRE (3.71%). In terms of maximum drawdown, XLRE dropped -38.83% vs BBRE's -43.61%.

Which ETF is better, XLRE or BBRE?

On 5-year performance, BBRE leads with 4.42% vs 2.86% for XLRE. On fees, BBRE is cheaper at 0.11% per year. On volatility, XLRE has been the lower-risk option at 3.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLRE or BBRE?

Over the 5-year period, BBRE has performed better with a 4.42% return vs 2.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLRE or BBRE?

BBRE is cheaper with a 0.11% expense ratio, compared with 0.13% for XLRE.

Which ETF pays a higher dividend yield, XLRE or BBRE?

XLRE has the higher dividend yield at 3.22%, compared with 2.81% for BBRE.

What is the main difference between XLRE and 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.

Which has better risk-adjusted returns?

BBRE currently has the higher Sharpe Ratio (1.06 vs 0.61), 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.