The Global Property Play: RWX vs. HAUZ—Which International Real Estate ETF Deserves a Spot in Your Portfolio?
For investors looking to buy property without the hassle of a transatlantic mortgage, International Real Estate Exchange-Traded Funds, or ETFs, have always been an appealing option. They offer a simple, liquid way to own a piece of the commercial and residential markets across Europe, Asia, and beyond. But when you narrow the field down to two of the most popular funds—the SPDR Dow Jones International Real Estate ETF (RWX) and the Xtrackers International Real Estate ETF (HAUZ)—you quickly realize their approaches are anything but identical. The core question for investors: which one is the better buy right now?
As we navigate into 2026, the international real estate market is poised for a significant rebound. After a period of volatility, the mood is one of renewed optimism, with global investment turnover expected to rise by about 15% this year. The main tailwind is the expectation of continued falling interest rates, which should help stabilize property values and support investment activity worldwide. Prime offices, logistics, and residential properties are leading the charge on rental growth, suggesting strong underlying demand for high-quality assets.
When you compare RWX and HAUZ, the first thing that jumps out is the stark difference in cost and portfolio size.
The Battle of the Balance Sheets
HAUZ, issued by Xtrackers, is the clear winner on expenses, boasting a low 0.10% expense ratio. In contrast, RWX, offered by SPDR, carries a significantly higher fee of 0.59%. Over the long haul, that kind of difference in fees can meaningfully erode your total returns.
HAUZ also offers a much broader net of diversification, holding around 408 different securities. Its mandate tracks an index of publicly-traded real estate in both developed and emerging markets outside the US, Pakistan, and Vietnam. RWX, while older and more established, is more concentrated, with only about 120 holdings.
The difference in holdings translates into a variation in recent returns. Although HAUZ has a lower expense ratio, RWX delivered a higher one-year total return of nearly 26.9% as of early 2026, compared to HAUZ’s return of about 22.7%. This suggests that the smaller, more concentrated portfolio of RWX may have captured stronger gains from specific stocks—like its top holding, Mitsui Fudosan Co.—which both funds share.
However, HAUZ pulls ahead in another key area for real estate investors: income. HAUZ provides a more attractive dividend yield, coming in at roughly 3.91%, comfortably topping RWX’s yield of about 3.36%. Furthermore, HAUZ is the larger fund, with over $900 million in assets under management (AUM), making it nearly three times the size of RWX.
The Verdict
Both ETFs offer solid exposure to the international property rebound, which is being driven by strong demand in sectors like residential and logistics, and a global supply shortage of modern space.
If you are an investor who prioritizes low cost, broader diversification, and a higher dividend yield, **HAUZ** looks like the better buy. Its fractional fee and wider spread of holdings make it an excellent core position for long-term investors seeking international real estate exposure.
However, if you are comfortable with a more concentrated portfolio and are chasing the possibility of higher recent price appreciation, **RWX** might be worth the higher expense ratio, given its stellar one-year performance. For most investors, though, the significant cost savings and superior diversification offered by HAUZ provide a more compelling case for the long term.
