TSRS vs XLRE

TSRSFTruth Social American Red State REITs ETF

XLREAState Street Real Estate Select Sector SPDR ETF

In short

TSRS Most REIT funds sort landlords by property type. This one sorts by politics, tracking a MarketVector index built on a red-state theme. Plain passive plumbing wrapped around a very unplain idea.

XLRE The S&P 500's landlords in one ticker: about 30 large-cap real estate companies, mortgage REITs excluded, for 0.08% a year. It launched in 2015, before real estate was even its own market sector.

Stated mandate

TSRS The Fund seeks to deliver returns that generally correspond to the price and yield performance of the MarketVectorTM–iREIT® Red State REITs Index.

XLRE The fund seeks to provide investment results that generally correspond to the price and yield performance of the Real Estate Select Sector Index, representing the real estate sector of the S&P 500 Index.

Why people hold it

• TSRS The idea is the product: a rules-based index of US real estate stocks built on a red-state theme, delivered in one ticket instead of assembled name by name.
• Boring machinery under a loud label: a registered 1940 Act fund that replicates a published index rather than following a manager's hunches.
• Exposure stays home and stays simple. US equity real estate, tracking an index measured on price and yield, not foreign property or mortgage paper.

• XLRE 0.08% a year sits at the floor of the real estate peer group, where the median fund charges several times more.
• Clean mandate: S&P 500 real estate management, development and equity REITs, with mortgage REITs left out, so no mortgage paper rides along in a property fund.ssga.com
• A multi-billion-dollar fund and one of the most actively traded names in its category, which usually shows up as tight spreads when you click buy.
• Running since 2015, arriving before S&P and MSCI split real estate out as its own sector in 2016. Pays quarterly, and ranks among the stronger builds in a crowded lineup.reit.com

Worth knowing

• TSRS At 0.65% a year, the fee sits well above the real estate category median, and the broad heavyweights (SCHH, VNQ, USRT) charge a small fraction of it.
• Small and thinly traded, with a track record that only starts at the end of 2025. Wider spreads come with that territory, so limit orders earn their keep.
• The political screen narrows the field, so results can drift from the broad US REIT market in either direction. Payouts have come irregularly, not on a set calendar.

• XLRE About 30 holdings, so the largest positions carry real weight and one company's stumble is felt across the fund.
• The S&P 500 sets the universe, so REITs that never reach large-cap index status stay outside the portfolio.ssga.comsec.gov
• This is one slice of the market, moving with the property cycle rather than blending into a broad index.

Full TSRS profile⁠

Full XLRE profile⁠