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<h2>Key Points</h2><ul><li>Vanguard Global ex-U.S. Real Estate ETF has a significantly lower expense ratio of 0.12% compared to 0.59% for State Street SPDR Dow Jones International Real Estate ETF. </li><li>The Vanguard fund offers a higher trailing dividend yield and broader diversification with 682 holdings while the SPDR fund holds 121 positions.</li><li>Vanguard Global ex-U.S. Real Estate ETF manages $3.7 billion in assets under management compared to $276.9 million for the SPDR fund. </li><li>10 stocks we like better than SPDR Index Shares Funds - State Street SPDR Dow Jones International Real Estate ETF ›</li></ul><p><strong>Vanguard Global ex-U.S. Real Estate ETF</strong> <span class="ticker">(NASDAQ:VNQI)</span> provides a low-cost, broadly diversified entry into international property markets, while <strong>State Street SPDR Dow Jones International Real Estate ETF</strong> <span class="ticker">(NYSEMKT:RWX)</span> offers a more concentrated alternative with higher cash positions.</p><p>International real estate can serve as a potent diversifier, offering exposure to economic cycles and rental markets outside the U.S. These two ETFs aim to capture that potential, but they take different paths toward the same goal. Investors may weigh the massive liquidity and low fees of the Vanguard fund against the specific strategy and smaller footprint of the SPDR fund.</p><h2 id="snapshot-cost-amp-size">Snapshot (cost &amp; size)</h2><section><table><tbody><tr><th>Metric</th><th>VNQI</th><th>RWX</th></tr><tr><td>Issuer</td><td>Vanguard</td><td>SPDR</td></tr><tr><td>Expense ratio</td><td>0.12%</td><td>0.59%</td></tr><tr><td>1-yr return (as of May. 7, 2026)</td><td>14.10%</td><td>9.90%</td></tr><tr><td>Dividend yield</td><td>4.50%</td><td>3.60%</td></tr><tr><td>Beta</td><td>0.73</td><td>0.78</td></tr><tr><td>AUM</td><td>$3.7 billion</td><td>$276.9 million</td></tr></tbody></table></section><p><em>Beta measures price volatility relative to the S&amp;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.</em></p><p>Operating costs and yields play a pivotal role in the long-term success of international real estate strategies. The Vanguard fund stands out as a highly efficient option, featuring an expense ratio that is 0.47 percentage points lower than the SPDR trust. This cost advantage allows more of the underlying property income to reach investors. Furthermore, the Vanguard fund has historically provided a stronger income stream, with a trailing-12-month dividend yield of 4.50% compared to 3.60% for the SPDR fund.</p><h2 id="performance-amp-risk-comparison">Performance &amp; risk comparison</h2><section><table><tbody><tr><th>Metric</th><th>VNQI</th><th>RWX</th></tr><tr><td>Max drawdown (5 yr)</td><td>(35.80%)</td><td>(35.90%)</td></tr><tr><td>Growth of $1,000 over 5 years (total return)</td><td>$999</td><td>$938</td></tr></tbody></table></section><h2 id="whatx27s-inside">What's inside</h2><p>The State Street SPDR Dow Jones International Real Estate ETF follows a strategy that concentrates on a smaller group of high-conviction assets. Launched in 2006, the fund manages 121 holdings. Its largest positions include <strong>Mitsui Fudosan</strong> at 6.52%, <strong>Swiss Prime Site</strong> at 2.98%, and <strong>Scentre Group</strong> at 2.80%. Over the trailing 12 months, the fund has paid $1.02 per share in dividends.</p><p>In contrast, the Vanguard Global ex-U.S. Real Estate ETF offers much more granular diversification across the global property landscape. Launched in 2010, the fund holds 682 positions, providing exposure to a broader range of small and mid-sized international property companies. Its top holdings include <strong>Goodman Group</strong> at 3.36%, <strong>Mitsubishi Estate</strong> at 3.09%, and <strong>Mitsui Fudosan</strong> at 2.71%. The Vanguard fund has paid $2.16 per share over the trailing 12 months.</p><p>For more guidance on ETF investing, check out the full guide at this link.</p><h2 id="what-this-means-for-investors-">What this means for investors </h2><p>International real estate means names most U.S. investors won't recognize. Mitsui Fudosan and Mitsubishi Estate are Japan's largest diversified property developers. Goodman Group is an Australian logistics giant powering warehouses and data centers across Asia-Pacific. Segro is a U.K. industrial and logistics REIT. These companies anchor both VNQI and RWX, so owning either fund means trusting property cycles, currencies, and interest rate environments far removed from the U.S. market.</p><p>The funds take different approaches to that universe. VNQI spreads exposure across nearly 700 holdings, keeping concentration low and diversification broad. RWX holds roughly 120 companies, with its top position alone accounting for about 7% of the fund, and maintains a notable cash allocation that reduces pure real estate exposure.</p><p>The cost difference is the most compelling argument for VNQI. RWX charges nearly five times as much, a gap that compounds meaningfully over time and demands significantly stronger performance to justify. For most long-term investors seeking international real estate diversification, VNQI's broader portfolio and dramatically lower fee make it the more sensible choice.</p><p></p><h2>Should you buy stock in SPDR Index Shares Funds - State Street SPDR Dow Jones International Real Estate ETF right now?</h2>
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<p style="color: #767676; text-align: left"><em>*Stock Advisor returns as of May 11, 2026. </em></p><p><em>Sara Appino has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.</em></p>
<p>The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.</p>
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GQRE

VNQI

<p>Vanguard Global ex-U.S. Real Estate ETF (VNQI) offers a low-cost, diversified entry into international real estate with an expense ratio of 0.12% and 682 holdings, compared to State Street SPDR Dow Jones International Real Estate ETF (RWX) with a 0.59% expense ratio and 121 holdings. VNQI has a higher trailing dividend yield of 4.50% versus RWX's 3.60%. The Vanguard fund manages $3.7 billion in assets, while RWX manages $276.9 million. VNQI's broader diversification and lower costs make it a more attractive option for long-term investors seeking international real estate exposure.</p>

nasdaq

SPDR Dow Jones Intl Real Estate ETF

Vanguard Real Estate ETF

FlexShares Glbl Quality Real Estate ETF

Vanguard Global Ex-US Real Estate

SPDR Dow Jones Global Real Estate ETF

Sumitomo Mitsui Trust Holdings, Inc.

VG S&P 500

SPDR S&P 500

S&P 500

iShares Core S&P 500

Mitsui Fudosan Co., Ltd.

Mitsui & Co.

Mitsui Matsushima Holdings Co., Ltd.

WisdomTree Physical Swiss Gold

Currencyshares Swiss Franc Trust

Basler AG

Scentre Group

Goodman Group

AdvisorShares Dorsey Wright

Adagio Medical

Mitsubishi Estate Company, Limited

Mitsubishi Estate

SEGRO plc

Ambev

Vinci

State Street

VG Value

The Vanguard Group, Inc.

Nano Labs

State Street® US Equity Premium Inc ETF

VNQI Offers Broad International Real Estate at Low Cost. RWX Takes a Narrower, Pricier Path.