RWR: Diversification In Name Only

  • SPDR\u00ae Dow Jones\u00ae REIT ETF offers sector diversification within REITs, but its top holdings are heavily concentrated in a few geographic regions. Nearly 30% of RWR's property exposure is tied to Texas, Florida, and California, increasing vulnerability to local economic or natural events. We remain neutral on broad REIT ETFs like RWR and prefer strategies that explicitly diversify property exposure.