RWR vs SCHH: Grades, Fees and Holdings Compared

State Street SPDR Dow Jones REIT ETF

RWRANYSE Arca

Schwab U.S. REIT ETF

SCHHANYSE Arca

Overlap

81.0%by weight

Expense ratio

SCHH −0.18pt a year

RWR0.25%SCHH0.07%

Avg volume · 30D

SCHH 29.8×the volume

RWR256KSCHH7.63M

10Y return · a year

RWR +1.2pt

RWR+5.5%SCHH+4.3%

RWR vs SCHH Performance

Oct 29, 2021 – Oct 30, 2026

+14.3%RWR+9.3%SCHH

Expense ratio: RWR 0.25%; SCHH 0.07%, better
Fund size: RWR $1.82B; SCHH $11B
1Y total return: RWR +13.9%, better; SCHH +12.7%
Yield (12M): RWR 3.47%, better; SCHH 2.94%
Holdings: RWR 100; SCHH 121
Avg volume (30D): RWR 256K sh; SCHH 7.63M sh, better
NAV per share: RWR $108.29; SCHH $23.06
52W range

ETF.net Grade

Pillar letters and Scores for RWR, SCHH, with each pillar’s weight
Pillar	RWR	SCHH
Cost30% weight	B62	A93Higher
Mission25% weight	A100	A100
Risk15% weight	B61Higher	C52
Tradability15% weight	A78	A78
Holdings10% weight	B56	B68Higher
Durability5% weight	A76	A78Higher

Rank among US Real Estate funds

How we build Categories ›

Same Category. RWR and SCHH are both graded against the same 21 US Real Estate funds, so their Grades compare head to head.

US Real Estate⁠

Category · 21 funds

See all 21 ›

SCHH ranks 1st and RWR 7th of 21 funds in the US Real Estate Category.

Rank 1ASCHHSchwab U.S. REIT ETFScore 83
Rank 1AUSRTiShares Core U.S. REIT ETFScore 83
Rank 6AVNQVanguard Real Estate ETFScore 74
Rank 7ARWRState Street SPDR Dow Jones REIT ETFScore 73
Rank 8ABBREJPMorgan BetaBuilders MSCI US REIT ETFScore 71

Our read on each fund

ETF.net Research

RWRAState Street SPDR Dow Jones REIT ETF

SCHHASchwab U.S. REIT ETF

In short

RWR A 2001-vintage REIT specialist: roughly 100 US real estate investment trusts tracked through the Dow Jones U.S. Select REIT Capped Index, priced under the typical broad real estate fund.

SCHH Landlord exposure at a rounding-error price. SCHH owns the US equity REIT market, roughly 120 of them, for 0.07% a year, a fraction of what the typical real estate fund charges.

Stated mandate

RWR The fund seeks to track, before expenses, the total return performance of the Dow Jones U.S. Select REIT Capped Index.

SCHH The fund seeks to track, before fees and expenses, an index of U.S. equity-classified real estate investment trusts.

Why people hold it

RWR Trading since 2001, giving it a record that spans multiple property and rate cycles, not just the last one.
0.25% expense ratio, below the median for US broad real estate ETFs.
Sticks tightly to the Dow Jones U.S. Select REIT Capped Index: one of the cleanest index deliveries in its peer group.ssga.com
About 100 REITs, paying out quarterly, in a plain 1940 Act fund with no leverage or derivative wrapper.

SCHH 0.07% a year undercuts every major broad REIT rival: VNQ at 0.13%, USRT, FREL and XLRE at 0.08%, against a 0.37% category median.
Straight-up landlords. The index covers US equity-classified REITs, the companies that own and rent property, not the wider real estate services trade.schwabassetmanagement.com
It hugs its index about as closely as anything in the broad US REIT group, one of the strongest implementations among its peers.
A multi-billion-dollar fund that trades heavily, which keeps spreads tight for retail-size orders and has done since its 2011 launch.

Worth knowing

RWR Several broad real estate rivals undercut it on fee: SCHH at 0.07%, USRT at 0.08%, VNQ at 0.13%.
One sector, one country: US real estate only, so property values and borrowing costs drive the ride.
Volume is moderate rather than heavyweight next to the category's biggest names.

SCHH One sector, about 120 names. It moves with property markets and interest rates, not the broad market, so the ride is bumpier than a total-market fund.
Income arrives quarterly, not monthly, which matters if you budget off distributions.
US only, and equity REITs only: no overseas property and no mortgage REITs in the mix.schwabassetmanagement.com

Full RWR profile⁠

Full SCHH profile⁠

RWR vs SCHH Holdings

How RWR and SCHH differ

Overlap by weight

81.0%

Shared holdings make up 99.7% of RWR and 81.3% of SCHH.

Level by level

Holdings96 in both81.0%
Asset classEquity100%
Countryby domicile100%
Sector1 Sector100%

Sector

Sector weights in RWR and SCHH, widest gap first
Sector	More in RWRMore in SCHH	RWR	SCHH
Real Estate	Same weight	100.0%	100.0%

Country, concentration and asset class

Country by domicile

Country weights in RWR and SCHH, widest gap first
Country	More in RWRMore in SCHH	RWR	SCHH
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

RWR54.3%
SCHH51.0%

Securities held

RWR98
SCHH121

Asset class

RWR: Equity
SCHH: Equity

Holdings

Only in RWR2
In both96
Only in SCHH25

Only in RWR

2 securities, 0.1% of RWR by weight

Universal Health Rlty Income0.05%
Dj Us Real Estate DEC26<0.01%

Only in SCHH

25 securities, 18.7% of SCHH by weight

American Tower Reit4.92%
Crown Castle Inc2.71%
Iron Mountain Inc2.53%
Vici Pptys Inc1.94%
Sba Communications Reit Corp Class1.41%
Weyerhaeuser Reit1.02%
Lamar Advertising Company Class A0.99%
Gaming and Leisure Properties Reit0.82%
Outfront Media0.41%
Rayonier Reit0.38%
Sabra Health Care Reit0.36%
Millrose Properties Inc Class A0.29%
Inventrust Properties0.17%
Ltc Properties Reit0.17%
Lineage0.15%
Blackstone Digital Infrastructure0.11%
Ssc Government Mm Gvmxx0.08%
Cto Realty Growth0.05%
National Healthcare Properties0.05%
Alexanders Reit Inc0.04%
Safehold Inc0.04%
Ah Realty Inc0.03%
Farmland Partners Inc0.03%
Gladstone Land Reit0.02%
Us Dollar0.01%

Weight gaps

All 96 Holdings in both funds, largest gap first.

Holding weights in RWR and SCHH, widest gap first
Holding	More in RWRMore in SCHH	RWR	SCHH
Prologis IncPLD	RWR +1.26 points	9.56%	8.30%
Ventas IncVTR	RWR +1.18 points	4.26%	3.08%
Vivmark ResidentialVMRK	RWR +1.14 points	4.33%	3.19%
Public StoragePSA	RWR +1.09 points	4.91%	3.82%
Extra Space Storage IncEXR	RWR +0.87 points	3.14%	2.27%
Host Hotels & Resorts IncHST	RWR +0.49 points	1.75%	1.26%
Essex Property Trust IncESS	RWR +0.47 points	1.69%	1.22%
Kimco Realty CorpKIM	RWR +0.45 points	1.63%	1.18%
Realty Income CorpO	RWR +0.44 points	4.32%	3.88%
Wp Carey IncWPC	RWR +0.41 points	1.47%	1.06%
Invitation Homes IncINVH	RWR +0.39 points	1.42%	1.03%
Omega Healthcare InvestorsOHI	RWR +0.39 points	1.41%	1.02%
Mid America Apartment CommMAA	RWR +0.38 points	1.36%	0.98%
Sun Communities IncSUI	RWR +0.38 points	1.36%	0.98%
Healthpeak Properties IncDOC	RWR +0.36 points	1.30%	0.94%
Regency Centers CorpREG	RWR +0.34 points	1.24%	0.90%
American Healthcare Reit IncAHR	RWR +0.32 points	1.15%	0.83%
Equity Lifestyle PropertiesELS	RWR +0.31 points	1.13%	0.82%
Eastgroup Properties IncEGP	RWR +0.29 points	1.06%	0.77%
Udr IncUDR	RWR +0.29 points	1.03%	0.74%
Camden Property TrustCPT	RWR +0.28 points	1.01%	0.73%
Bxp IncBXP	RWR +0.28 points	1.00%	0.72%
American Homes 4 Rent AAMH	RWR +0.27 points	0.99%	0.72%
Ryman Hospitality PropertiesRHP	RWR +0.25 points	0.91%	0.66%
Brixmor Property Group IncBRX	RWR +0.25 points	0.89%	0.64%
Federal Realty Invs TrustFRT	RWR +0.24 points	0.88%	0.64%
CubesmartCUBE	RWR +0.24 points	0.86%	0.62%
Caretrust Reit IncCTRE	RWR +0.24 points	0.85%	0.61%
Rexford Industrial Realty InREXR	RWR +0.24 points	0.85%	0.61%
Agree Realty CorpADC	RWR +0.23 points	0.83%	0.60%
Nnn Reit IncNNN	RWR +0.21 points	0.78%	0.57%
First Industrial Realty TrFR	RWR +0.20 points	0.72%	0.52%
Stag Industrial IncSTAG	RWR +0.19 points	0.71%	0.52%
Terreno Realty CorpTRNO	RWR +0.20 points	0.71%	0.51%
Macerich Co/TheMAC	RWR +0.19 points	0.68%	0.49%
Alexandria Real Estate EquitARE	RWR +0.17 points	0.63%	0.46%
Healthcare Realty Trust IncHR	RWR +0.17 points	0.62%	0.45%
Essential Properties RealtyEPRT	RWR +0.16 points	0.57%	0.41%
Vornado Realty TrustVNO	RWR +0.15 points	0.56%	0.41%
Digital Realty Trust IncDLR	SCHH +0.14 points	4.41%	4.55%
Kite Realty Group TrustKRG	RWR +0.14 points	0.50%	0.36%
Phillips Edison & Company InPECO	RWR +0.13 points	0.49%	0.36%
Cousins Properties IncCUZ	RWR +0.14 points	0.48%	0.34%
Equinix IncEQIX	SCHH +0.12 points	4.53%	4.65%
Epr PropertiesEPR	RWR +0.12 points	0.44%	0.32%
Kilroy Realty CorpKRC	RWR +0.12 points	0.42%	0.30%
Simon Property Group IncSPG	RWR +0.12 points	4.81%	4.69%
Americold Realty Trust IncCOLD	RWR +0.11 points	0.41%	0.30%
Tanger IncSKT	RWR +0.11 points	0.42%	0.31%
Apple Hospitality Reit IncAPLE	RWR +0.11 points	0.41%	0.30%
Copt Defense PropertiesCDP	RWR +0.10 points	0.38%	0.28%
Sl Green Realty CorpSLG	RWR +0.10 points	0.36%	0.26%
Lxp Industrial TrustLXP	RWR +0.10 points	0.36%	0.26%
Independence Realty Trust InIRT	RWR +0.10 points	0.35%	0.25%
Park Hotels & Resorts IncPK	RWR +0.10 points	0.34%	0.24%
Highwoods Properties IncHIW	RWR +0.09 points	0.33%	0.24%
Broadstone Net Lease IncBNL	RWR +0.09 points	0.33%	0.24%
Natl Health Investors IncNHI	RWR +0.09 points	0.33%	0.24%
Curbline Properties CorpCURB	RWR +0.08 points	0.30%	0.22%
Diamondrock Hospitality CoDRH	RWR +0.08 points	0.29%	0.21%
Welltower IncWELL	RWR +0.08 points	10.01%	9.93%
Acadia Realty TrustAKR	RWR +0.07 points	0.26%	0.19%
Urban Edge PropertiesUE	RWR +0.07 points	0.25%	0.18%
Sunstone Hotel Investors IncSHO	RWR +0.07 points	0.24%	0.17%
Pebblebrook Hotel TrustPEB	RWR +0.06 points	0.24%	0.18%
Janus Living Inc Class A 1JAN	RWR +0.06 points	0.24%	0.18%
Four Corners Property TrustFCPT	RWR +0.06 points	0.24%	0.18%
Smartstop Self Storage ReitSMA	RWR +0.05 points	0.19%	0.14%
Xenia Hotels & Resorts IncXHR	RWR +0.05 points	0.19%	0.14%
Netstreit CorpNTST	RWR +0.05 points	0.18%	0.13%
Diversified Healthcare TrustDHC	RWR +0.05 points	0.17%	0.12%
Rlj Lodging TrustRLJ	RWR +0.05 points	0.17%	0.12%
Douglas Emmett IncDEI	RWR +0.05 points	0.17%	0.12%
Getty Realty CorpGTY	RWR +0.04 points	0.16%	0.12%
Global Net Lease IncGNL	RWR +0.04 points	0.15%	0.11%
Innovative Industrial ProperIIPR	RWR +0.04 points	0.15%	0.11%
Umh Properties IncUMH	RWR +0.03 points	0.12%	0.09%
Medical Properties Trust IncMPT	RWR +0.03 points	0.12%	0.09%
Piedmont Realty Trust IncPDM	RWR +0.03 points	0.12%	0.09%
American Assets Trust IncAAT	RWR +0.02 points	0.10%	0.08%
Easterly Government PropertiDEA	RWR +0.03 points	0.10%	0.07%
CenterspaceCSR	RWR +0.03 points	0.10%	0.07%
Cbl & Associates PropertiesCBL	RWR +0.03 points	0.10%	0.07%
Fermi IncFRMI	RWR +0.02 points	0.08%	0.06%
Service Properties TrustSVC	RWR +0.02 points	0.08%	0.06%
Summit Hotel Properties IncINN	RWR +0.03 points	0.08%	0.05%
Empire State Realty Trust AESRT	RWR +0.02 points	0.07%	0.05%
Jbg Smith PropertiesJBGS	RWR +0.02 points	0.07%	0.05%
Postal Realty Trust Inc APSTL	RWR +0.02 points	0.06%	0.04%
Hudson Pacific Properties InHPP	RWR +0.02 points	0.06%	0.04%
Gladstone Commercial CorpGOOD	RWR +0.01 points	0.05%	0.04%
Brandywine Realty TrustBDN	RWR +0.01 points	0.05%	0.04%
Nexpoint ResidentialNXRT	RWR +0.01 points	0.04%	0.03%
Chiron Real Estate IncXRN	RWR +0.01 points	0.04%	0.03%
Community Healthcare Trust ICHCT	RWR +0.01 points	0.03%	0.02%
Site Centers CorpSITC	RWR +0.01 points	0.02%	0.01%

All 97 RWR holdings⁠All 122 SCHH holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

RWR vs SCHH Cost

Overpaying RWR vs SCHH

$3,679

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

RWR 0.25%
$5,159
SCHH 0.07%
$1,480

Amount$10,000

Years30 years

Cost over time

RWR 0.25%
SCHH 0.07%
Overpaying

Year by year

Year	RWR	SCHH	Overpaying
10	$455	$128	$327
20	$1,769	$503	$1,266
30	$5,159	$1,480	$3,679

Expense ratio

0.25%RWR
0.07%SCHH, cheaper

SCHH0.07%RWR0.25%

0.07%0.65%

Middle half of US Real Estate funds
Median 0.35%

SCHH cheapest of 21 funds

RWR 9th cheapest of 21 funds

RWR vs SCHH Dividends

Last 12 months to Oct 30, 2026

Yield (12M): RWR 3.47%, better; SCHH 2.94%
Payout (12M): RWR $3.77; SCHH $0.68
Last payment: RWR $0.98; SCHH $0.17
Ex-dividend: RWR Sep 21, 2026; SCHH Sep 23, 2026
Paid on: RWR Sep 23, 2026; SCHH Sep 28, 2026
Frequency: RWR Quarterly; SCHH Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

RWRQuarterly · 39 paymentsAll RWR payments⁠

SCHHQuarterly · 40 paymentsAll SCHH payments⁠

RWR vs SCHH Risk

Fall from peak · 5 years

RWR
SCHH

Risk facts

VolatilityStd dev, 3 years: RWR 16.1%, betterSCHH 16.3%
Return per unit of riskSharpe ratio, 3 years: RWR 0.69, betterSCHH 0.60
Worst fallMax drawdown, 5 years: RWR −32.6%, betterSCHH −33.3%
Market sensitivityBeta, 5 years: RWR 0.98SCHH 0.95; Market = 1

RWR and SCHH in the news

All news⁠

Category Review
Vanguard's property fund lost a first-half lead over stocks
Updated Oct 8, 2026SCHH
Deep Dive
Vanguard's property fund is up 4% this year. Mortgage funds are down 15%
Oct 5, 2026SCHH
Deep Dive
The 10-year is back at 5.01%. Listed REIT funds fell 2%
Sep 19, 2026SCHH
Deep Dive
Equity REIT funds fell 1.3%. VanEck's mortgage REIT fund hit a 52-week low
Sep 12, 2026SCHH
News
Independence Realty to take Centerspace in 3.800-share all-stock merger
Sep 9, 2026SCHH
Deep Dive
September's $2.74 billion CMBS wall is half of August's, with more already in special servicing
Sep 5, 2026SCHH

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RWR vs SCHH

In short

Stated mandate

Why people hold it