ETF Evaluator: State Street® SPDR® Dow Jones® REIT ETF (RWR) Follow This ETF

State Street® SPDR® Dow Jones® REIT ETF Overview

State Street® SPDR® Dow Jones® REIT ETF (RWR) is a passively managed Sector Equity Real Estate exchange-traded fund (ETF). State Street Investment Management launched the ETF in 2001.

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Dow Jones U.S. Select REIT Capped Index. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index is designed to provide a measure of real estate securities that serve as proxies for direct real estate investing, in part by excluding securities whose value is not always closely tied to the value of the underlying real estate.

About State Street® SPDR® Dow Jones® REIT ETF (RWR)

There are 3 members of the management team with an average tenure of 5.75 years: Emiliano Rabinovich (2025), Lisa Hobart (2021) and Karl Schneider (2014). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Dow Jones U.S. Select REIT Capped TR USD index with a weighting of 100%. State Street® SPDR® Dow Jones® REIT ETF has 100 securities in its portfolio. The top 10 holdings constitute 51.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

State Street® SPDR® Dow Jones® REIT ETF is part of the Equity global asset class and is within the Sector Equity ETF group. State Street® SPDR® Dow Jones® REIT ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.1% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). State Street® SPDR® Dow Jones® REIT ETF has 0.9% of the portfolio in cash.

Assets Under Management

The fund has $1 billion in total assets, which is above the $1 billion average for the Real Estate category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

RWR Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The State Street® SPDR® Dow Jones® REIT ETF expense ratio is below average compared to funds in the Real Estate category. State Street® SPDR® Dow Jones® REIT ETF has an expense ratio of 0.25%, which is 49% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. State Street® SPDR® Dow Jones® REIT ETF has a portfolio turnover rate of 13%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 69% for the Real Estate category.

Recently, in the month of July 2026, State Street® SPDR® Dow Jones® REIT ETF returned 2.6%, which earned it a grade of A, as the Real Estate category had an average return of 1.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

State Street® SPDR® Dow Jones® REIT ETF has a trailing yield of 3.26%, which is below the 4.13% category average. The fund normally distributes its income quarterly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

State Street® SPDR® Dow Jones® REIT ETF Grades

Year to date, the ETF has returned 19.7%, 5.0 percentage points better than the category, which translates into a grade of A. The fund has returned 25.7% over the past year (grade of A), 11.7% over the past three years (grade of A) and 4.7% per year over the past five years (grade of A) and 4.9% per year over the past 10 years (grade of C).

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