XLRE vs. DFGEX

Last updated Jun 14, 2026

XLRE (Real Estate Select Sector SPDR Fund) and DFGEX (DFA Global Real Estate Securities Portfolio) are both REIT funds. Over the past 10 years, XLRE returned 7.15%/yr vs 4.11%/yr for DFGEX. Their correlation of 0.93 suggests significant overlap in exposure. XLRE charges 0.13%/yr vs 0.14%/yr for DFGEX.

Performance

XLRE vs. DFGEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Real Estate Select Sector SPDR Fund (XLRE) and DFA Global Real Estate Securities Portfolio (DFGEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLRE achieves a 13.17% return, which is significantly higher than DFGEX's 10.89% return. Over the past 10 years, XLRE has outperformed DFGEX with an annualized return of 7.15%, while DFGEX has yielded a comparatively lower 4.11% annualized return.

XLRE

• 1D: 0.98%
• 1M: 3.30%
• YTD: 13.17%
• 6M: 13.29%
• 1Y: 12.05%
• 3Y*: 10.41%
• 5Y*: 3.32%
• 10Y*: 7.15%

DFGEX

• 1D: 0.35%
• 1M: 3.29%
• YTD: 10.89%
• 6M: 11.70%
• 1Y: 13.17%
• 3Y*: 10.06%
• 5Y*: 2.03%
• 10Y*: 4.11%

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

XLRE vs. DFGEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLRE Real Estate Select Sector SPDR Fund	13.17%	2.63%	5.09%	12.36%	-26.25%	46.10%	-2.18%	28.68%	-2.39%	10.69%
DFGEX DFA Global Real Estate Securities Portfolio	10.89%	7.92%	1.92%	9.54%	-23.84%	31.03%	-6.71%	26.32%	-4.12%	5.95%

Correlation

The correlation between XLRE and DFGEX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Oct 8, 2015	0.93

The correlation between XLRE and DFGEX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

XLRE vs. DFGEX — Risk / Return Rank

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

XLRE

XLRE Risk / Return Rank: 27
XLRE Sharpe Ratio Rank: 26
XLRE Sortino Ratio Rank: 24
XLRE Omega Ratio Rank: 24
XLRE Calmar Ratio Rank: 31
XLRE Martin Ratio Rank: 29

DFGEX

DFGEX Risk / Return Rank: 23
DFGEX Sharpe Ratio Rank: 23
DFGEX Sortino Ratio Rank: 22
DFGEX Omega Ratio Rank: 22
DFGEX Calmar Ratio Rank: 24
DFGEX Martin Ratio Rank: 26

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. DFGEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Real Estate Select Sector SPDR Fund (XLRE) and DFA Global Real Estate Securities Portfolio (DFGEX). 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	DFGEX	Difference
Sharpe ratio: Return per unit of total volatility	0.81	1.08	-0.27
Sortino ratio: Return per unit of downside risk	1.18	1.54	-0.37
Omega ratio: Gain probability vs. loss probability	1.15	1.19	-0.05
Calmar ratio: Return relative to maximum drawdown	1.34	1.42	-0.08
Martin ratio: Return relative to average drawdown	3.69	4.97	-1.27

XLRE vs. DFGEX - Sharpe Ratio Comparison

The current XLRE Sharpe Ratio is 0.81, which is comparable to the DFGEX Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of XLRE and DFGEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XLRE vs. DFGEX - Drawdown Comparison

The maximum XLRE drawdown since its inception was -38.83%, smaller than the maximum DFGEX drawdown of -42.67%. Use the drawdown chart below to compare losses from any high point for XLRE and DFGEX.

Drawdown Indicators

	XLRE	DFGEX	Difference
Max Drawdown Largest peak-to-trough decline	-38.83%	-42.67%	+3.84%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	-9.04%	+0.71%
Max Drawdown (3Y) Largest decline over 3 years	-16.74%	-17.37%	+0.63%
Max Drawdown (5Y) Largest decline over 5 years	-34.12%	-32.78%	-1.34%
Max Drawdown (10Y) Largest decline over 10 years	-38.83%	-42.67%	+3.84%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.58%	-9.63%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	2.58%	+0.45%

Volatility

XLRE vs. DFGEX - Volatility Comparison

Real Estate Select Sector SPDR Fund (XLRE) has a higher volatility of 4.81% compared to DFA Global Real Estate Securities Portfolio (DFGEX) at 3.97%. This indicates that XLRE's price experiences larger fluctuations and is considered to be riskier than DFGEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLRE	DFGEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.81%	3.97%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	10.20%	8.87%	+1.33%
Volatility (1Y) Calculated over the trailing 1-year period	13.83%	11.92%	+1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.10%	16.29%	+2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.42%	17.72%	+2.70%

XLRE vs. DFGEX - Expense Ratio Comparison

XLRE has a 0.13% expense ratio, which is lower than DFGEX's 0.14% 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

XLRE vs. DFGEX - Dividend Comparison

XLRE's dividend yield for the trailing twelve months is around 3.08%, less than DFGEX's 3.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFGEX DFA Global Real Estate Securities Portfolio	3.67%	4.07%	3.78%	3.36%	5.70%	4.50%	2.29%	6.95%	5.09%	0.64%	0.32%	2.45%
XLRE Real Estate Select Sector SPDR Fund	3.08%	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 DFGEX in my portfolio?

With a correlation of 0.92, XLRE and DFGEX 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 DFGEX?

XLRE has higher volatility (4.81%) compared to DFGEX (3.97%). In terms of maximum drawdown, XLRE dropped -38.83% vs DFGEX's -42.67%.

Which has better risk-adjusted returns?

DFGEX currently has the higher Sharpe Ratio (1.08 vs 0.81), 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.