State Street SPDR Dow Jones Global Real Estate ETF

RWO

時価総額 $12.1億

State Street SPDR Dow Jones Global Real Estate ETF includes U.S. holdings, while Xtrackers International Real Estate ETF focuses solely on international markets. Xtrackers International Real Estate ETF is the more cost-effective option with an expense ratio of 0.1%.

State Street Real Estate Select Sector SPDR ETF has a significantly lower expense ratio than State Street SPDR Dow Jones Global Real Estate ETF. State Street SPDR Dow Jones Global Real Estate ETF provides international exposure and holds 224 positions, while the other fund focuses on 30 U.S. large-cap stocks.

REITs are refusing to break despite another rate shock: the 10-Year Treasury reached 5%, yet REITs remain higher by roughly 7% in 2026 as the once-dominant rate correlation weakens further. Solid fundamentals are increasingly doing the heavy lifting, with healthy property-level cash flows, improving earnings visibility, strong dividend coverage, and better balance sheets helping REITs absorb the rate shock. Cooling supply increasingly reinforces fundamentals: excluding Data Centers, REIT development pipelines are roughly 40% below their 2022 peak and 2019 levels; Data Centers remain the exception at seven times 2019 levels.

U.S. equity markets pulled back from record highs this week as long-term Treasury yields remained elevated, with renewed fiscal concerns after federal debt crossed $40T. Oil prices extended their rebound as stalled Iran negotiations and severely depressed Strait of Hormuz tanker traffic kept geopolitical risk elevated, pushing WTI crude another 5% higher to nearly $87/barrel. Housing data remained soft as starts, pending sales, and builder sentiment stayed depressed amid mortgage rates near 6.7%, but weak construction continued to reinforce the underlying housing shortage.

REITs concluded a surprisingly strong earnings season, with 83 REITs - or 83% - raising full-year FFO guidance, just 4% lowering, and the average outlook increasing 1.4% from prior guidance. Strong Fundamentals, Weak Tape: REITs slipped modestly during earnings season despite widespread guidance raises, as renewed interest-rate pressure outweighed improving property-level trends and earnings momentum. Upside standouts included Hotel, Industrial, Data Center, Billboard, Office, Senior Housing/Skilled Nursing, and Single-Family Rental REITs, while Self-Storage finally showed a convincing pricing inflection.

As REIT earnings season kicks into gear this week, we preview results and major sector trends based on recent operating indicators, company commentary, and real estate market data. REITs enter earnings season with solid momentum, outperforming the market despite elevated Treasury yields and geopolitical volatility, as investors refocus on earnings growth, property fundamentals, dividends, M&A, and capital allocation. Encouraging green shoots have become more plentiful, including resilient hotel demand, robust senior housing growth, improving apartment and industrial fundamentals, and a rebound in retail leasing following a softer Q1.

Vanguard Real Estate ETF offers a significantly lower expense ratio of 0.13% compared to 0.50% for State Street SPDR Dow Jones Global Real Estate ETF. State Street SPDR Dow Jones Global Real Estate ETF provides global exposure to 244 holdings while Vanguard Real Estate ETF concentrates 97% of its portfolio in U.S. real estate.

State Street SPDR Dow Jones REIT ETF offers a more concentrated portfolio of domestic real estate at half the annual cost of the global version. State Street SPDR Dow Jones Global Real Estate ETF provides international exposure across 224 holdings compared to just 98 for the domestic fund.

State Street Real Estate Select Sector SPDR ETF features a significantly lower expense ratio of 0.08% compared to 0.50% for State Street SPDR Dow Jones Global Real Estate ETF State Street SPDR Dow Jones Global Real Estate ETF provides exposure to 226 holdings globally, while State Street Real Estate Select Sector SPDR ETF concentrates on 31 large-cap U.S. firms Both ETFs offer identical trailing-12-month dividend yields of 3.20% as of June 30, 2026

State Street Real Estate Select Sector SPDR ETF offers a significantly lower expense ratio than State Street SPDR Dow Jones Global Real Estate ETF State Street SPDR Dow Jones Global Real Estate ETF provides international exposure while State Street Real Estate Select Sector SPDR ETF focuses exclusively on U.S. large-cap holdings Both funds offer similar trailing-12-month dividend yields exceeding 3.00% as of June 12, 2026