XLRE vs. JRE
XLRE (Real Estate Select Sector SPDR Fund) and JRE (Janus Henderson U.S. Real Estate ETF) are both REIT funds. XLRE is passively managed, while JRE is actively managed. Over the past 5 years, XLRE returned 2.83%/yr vs 4.23%/yr for JRE. Their correlation of 0.94 means they have usually moved in the same direction. XLRE charges 0.13%/yr vs 0.65%/yr for JRE.
Performance
XLRE vs. JRE - Performance Comparison
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Returns By Period
In the year-to-date period, XLRE achieves a 13.71% return, which is significantly lower than JRE's 20.87% return.
XLRE
- 1D
- 0.24%
- 1M
- 1.12%
- 6M
- 12.02%
- YTD
- 13.71%
- 1Y
- 13.19%
- 3Y*
- 10.53%
- 5Y*
- 2.83%
- 10Y*
- 6.48%
- ALL TIME*
- 7.47%
JRE
- 1D
- -0.32%
- 1M
- 1.24%
- 6M
- 18.77%
- YTD
- 20.87%
- 1Y
- 25.17%
- 3Y*
- 11.74%
- 5Y*
- 4.23%
- 10Y*
- —
- ALL TIME*
- 5.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $48.27K | $43.72K | $38.36K | |
| $241.73M | $214.09M | $227.39M |
XLRE vs. JRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XLRE Real Estate Select Sector SPDR Fund | 13.71% | 2.63% | 5.09% | 12.36% | -26.25% | 17.50% |
JRE Janus Henderson U.S. Real Estate ETF | 20.87% | 2.97% | 7.65% | 8.79% | -23.47% | 16.20% |
Correlation
The correlation between XLRE and JRE is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2021 | 0.94 |
The correlation between XLRE and JRE has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
XLRE vs. JRE — Risk / Return Rank
XLRE
JRE
XLRE vs. JRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Real Estate Select Sector SPDR Fund (XLRE) and Janus Henderson U.S. Real Estate ETF (JRE). 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 | JRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.32 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 3.54 | -1.95 |
| Martin ratioReturn relative to average drawdown | 4.64 | 11.50 | -6.86 |
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Drawdowns
XLRE vs. JRE - Drawdown Comparison
The maximum XLRE drawdown since its inception was -38.83%, which is greater than JRE's maximum drawdown of -31.69%. Use the drawdown chart below to compare losses from any high point for XLRE and JRE.
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Drawdown Indicators
| XLRE | JRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.83% | -31.69% | -7.14% |
Max Drawdown (1Y)Largest decline over 1 year | -8.33% | -7.14% | -1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -16.57% | -18.37% | +1.80% |
Max Drawdown (5Y)Largest decline over 5 years | -34.12% | -31.69% | -2.43% |
Max Drawdown (10Y)Largest decline over 10 years | -38.83% | — | — |
Current DrawdownCurrent decline from peak | -1.80% | -3.27% | +1.47% |
Average DrawdownAverage peak-to-trough decline | -9.48% | -12.25% | +2.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.85% | 2.19% | +0.66% |
Volatility
XLRE vs. JRE - Volatility Comparison
The current volatility for Real Estate Select Sector SPDR Fund (XLRE) is 4.38%, while Janus Henderson U.S. Real Estate ETF (JRE) has a volatility of 4.97%. This indicates that XLRE experiences smaller price fluctuations and is considered to be less risky than JRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XLRE | JRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.38% | 4.97% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 11.11% | 11.03% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.13% | 13.88% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.18% | 18.76% | +0.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.46% | 18.68% | +1.78% |
XLRE vs. JRE - Expense Ratio Comparison
XLRE has a 0.13% expense ratio, which is lower than JRE's 0.65% expense ratio.
Dividends
XLRE vs. JRE - Dividend Comparison
XLRE's dividend yield for the trailing twelve months is around 3.11%, less than JRE's 4.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JRE Janus Henderson U.S. Real Estate ETF | 4.66% | 5.81% | 2.20% | 2.77% | 2.87% | 0.90% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XLRE Real Estate Select Sector SPDR Fund | 3.11% | 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 0.91, XLRE and JRE 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.
JRE has higher volatility (4.97%) compared to XLRE (4.38%). In terms of maximum drawdown, XLRE dropped -38.83% vs JRE's -31.69%.
On 5-year performance, JRE leads with 4.23% vs 2.83% for XLRE. On fees, XLRE is cheaper at 0.13% per year. On volatility, XLRE has been the lower-risk option at 4.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JRE has performed better with a 4.23% return vs 2.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLRE is cheaper with a 0.13% expense ratio, compared with 0.65% for JRE.
JRE has the higher dividend yield at 4.66%, compared with 3.11% for XLRE.
They also come from different issuers: State Street and Janus Henderson. Their fees differ too: 0.13% for XLRE and 0.65% for JRE.
JRE currently has the higher Sharpe Ratio (1.82 vs 0.94), 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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