RWO vs SPY
State Street SPDR Dow Jones Global Real Estate ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | RWO | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $1.3B | $821.1B | |
| Dividend Yield | 3.14% | 1.01% | |
| Holdings | 244 | 505 | |
| YTD Return | +13.15% | +14.24% | |
| 1Y Return | +17.90% | +21.71% | |
| 3Y Return (annualized) | +11.10% | +22.10% | |
| 5Y Return (annualized) | +2.03% | +13.21% | |
| Volatility (annualized) | 20.1% | 15.3% | |
| Max Drawdown | -69.6% | -56.5% | |
| Fund Family | SPDR State Street Global Advisors | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 7, 2008 | Jan 22, 1993 |
RWO vs SPY Performance
State Street SPDR Dow Jones Global Real Estate ETF (RWO) is a ETF from SPDR State Street Global Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year RWO returned +17.90% while SPY returned +21.71%. Year to date, RWO is up 13.15% versus a gain of 14.24% for SPY.
Over three years, RWO compounded at +11.10% per year against +22.10% for SPY; over five years the annualized figures are +2.03% and +13.21% respectively. Across the full 18-year window we track, SPY has the edge at +8.86% annualized vs +0.99%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RWO has been the more volatile fund, with annualized monthly volatility of 20.1% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -69.6% for RWO and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
RWO charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, RWO currently yields 3.14% against 1.01% for SPY.
Holdings Overlap
RWO and SPY share 23 holdings out of 704 unique holdings combined, representing a 1.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, RWO or SPY?
RWO has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, RWO or SPY?
Over the past year RWO returned +17.90% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (18 years), RWO annualized +0.99% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, RWO or SPY?
RWO has been the more volatile fund at 20.1% annualized versus 15.3% for SPY. Worst drawdown: RWO -69.6% vs SPY -56.5%.
Should I hold both RWO and SPY?
RWO and SPY have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between RWO and SPY?
RWO and SPY share 23 common holdings with a 1.4% weight overlap. Combined, they hold 704 unique securities.
Which pays a higher dividend, RWO or SPY?
RWO yields 3.14% while SPY yields 1.01%, so RWO currently pays the higher dividend yield.
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