Is RWO Really a Global Real Estate Fund? HAUZ Makes the Comparison Interesting.
Key Points
Xtrackers International Real Estate ETF offers a lower expense ratio and higher dividend yield than State Street SPDR Dow Jones Global Real Estate ETF.
State Street SPDR Dow Jones Global Real Estate ETF provides exposure to both domestic and international real estate markets whereas Xtrackers International Real Estate ETF focuses solely on international property.
State Street SPDR Dow Jones Global Real Estate ETF has delivered higher total returns over the last year and five-year periods.
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Xtrackers International Real Estate ETF (NYSEMKT:HAUZ) provides low-cost exposure to property markets outside the United States, whereas State Street SPDR Dow Jones Global Real Estate ETF (NYSEMKT:RWO) includes domestic and international holdings for a higher fee.
Real estate investment trusts (REITs) can provide diversification and income, but the geographic scope of that exposure varies significantly between funds. While one strategy looks specifically at international opportunities, the other takes a global approach that includes the massive United States real estate market.
Snapshot (cost & size)
| Metric | HAUZ | RWO |
|---|---|---|
| Issuer | Xtrackers | SPDR |
| Expense ratio | 0.10% | 0.50% |
| 1-yr return (as of June 3, 2026) | 6.00% | 12.90% |
| Dividend yield | 4.60% | 3.30% |
| Beta | 0.75 | 0.91 |
| AUM | $1.0 billion | $1.2 billion |
Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield.
With an expense ratio of 0.10%, the Xtrackers fund is significantly more affordable than the State Street fund, which charges 0.50%. Investors seeking to maximize their current income may favor the Xtrackers fund for its higher distribution rate, whereas those prioritizing growth might look at the State Street fund's recent momentum.
Performance & risk comparison
| Metric | HAUZ | RWO |
|---|---|---|
| Max drawdown (5 yr) | (34.50%) | (32.90%) |
| Growth of $1,000 over 5 years (total return) | $924 | $1,100 |
The State Street fund tracks the Dow Jones Global Select Real Estate Securities Index, offering exposure to equity owners and operators of commercial and residential property. Its sector composition includes Real Estate at 89%, Cash & Others at 8%, and Consumer Cyclical at 1%. With 222 holdings, its largest positions include Welltower (NYSE:WELL) at 8.39%, Prologis (NYSE:PLD) at 8.03%, and Equinix (NASDAQ:EQIX) at 6.48%. It launched in 2008 and has a trailing-12-month dividend of $1.62 per share.
Xtrackers International Real Estate ETF focuses on markets outside the U.S. with 97% in Real Estate, 1% in Industrials, and 1% in Communication Services. It manages 409 holdings, and its largest holdings include Goodman Group (ASX:GMG.AX) at 4.86%, Mitsubishi Estate (TSE:8802) at 3.17%, and Mitsui Fudosan (TSE:8801) at 2.73%. It launched in 2013 and paid $1.04 per share over the trailing 12 months.
For more guidance on ETF investing, check out the full guide at this link.
What this means for investors
Owning real estate in only one country means your entire property exposure rises and falls with the same economy, the same interest rates, and the same housing market. International real estate funds solve that problem by spreading exposure across multiple countries and economic environments. Both HAUZ and RWO offer that access, but they are not equally international. And the distinction between them matters more than it might first appear.
RWO markets itself as a global real estate fund, but roughly half its portfolio sits in U.S. REITs. For investors who already own domestic real estate through a fund like VNQ or RWR, adding RWO largely doubles down on existing exposure rather than diversifying away from it. The international portion it does hold comes at a steep price: RWO charges five times what HAUZ does, and that premium is buying you a portfolio that is only halfway international.
HAUZ invests entirely outside the United States, making it the more precise tool for investors who specifically want international real estate to complement an existing domestic position. Its dramatically lower cost makes it the more efficient vehicle for doing so. For investors who want genuine global reach without paying a premium for U.S. exposure they likely already have, HAUZ is the more sensible choice.
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Sara Appino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Equinix and Prologis. The Motley Fool has a disclosure policy.
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