Captures the investible universe of publicly listed real‑estate investment trusts across developed and emerging markets—giving investors a single snapshot of global property equities.
1. What It Covers
| Region | Weight* | Yield |
|---|---|---|
| United States | 55 % | 4.1 % |
| Asia‑Pacific | 23 % | 4.2 % |
| Europe | 15 % | 4.0 % |
| Canada & LatAm | 7 % | 4.3 % |
*April 2025 market‑value snapshot. The index currently tracks 270 + REITs with a combined float‑adjusted value above US $1.8 trillion.
2. Inclusion Rules
- Listing: Developed‑ or emerging‑market exchange
- Structure: Equity REITs only; mortgage and hybrid REITs excluded
- Size & Liquidity: USD $100 m float and minimum trading volume
- Rebalance: Quarterly; float weights updated half‑yearly
- GICS Screen: Must derive ≥ 75 % revenue from real estate
3. Performance Pulse
| Period | Total Return (USD) |
|---|---|
| 2022 | –22.4 % |
| 2023 | +9.0 % |
| 2024 | +6.7 % |
| YTD‑2025 | +5.3 % |
Data‑center REITs (+18 % YTD) have led gains, offsetting flat retail and lagging office segments.
4. Sector Breakdown
| Sector | Weight |
|---|---|
| Industrial/Logistics | 17 % |
| Residential | 14 % |
| Retail | 13 % |
| Data Centers | 11 % |
| Self‑Storage | 5 % |
| Healthcare | 7 % |
| Diversified & Other | 33 % |
Free‑float caps (15 % per security) keep mega‑cap U.S. logistics names from overwhelming the basket.
5. Investor Use‑Cases
- Global Real‑Estate Beta: One ticker delivers diversified REIT exposure across four continents.
- Benchmarking: Active property funds gauge excess return versus this neutral reference.
- Asset‑Allocation Models: CIOs plug index duration and dividend yield into multi‑asset forecasts.
- ETF Underpinning: Products like VNQI (ex‑US) and RWX track or benchmark to this index.
6. Strengths & Limits
| Strengths | Limitations |
|---|---|
| Broad geographic reach | U.S. still > 50 %, skewing currency and rate sensitivity |
| Quarterly reviews keep weights fresh | Excludes mortgage REITs, missing part of yield universe |
| Float‑adjustment improves tradability | Emerging‑market liquidity sometimes thin |
7. Outlook
- AI Infrastructure: Asia‑Pac data‑center builds may lift regional weight above 25 % by 2027.
- Rate Path: Global easing could compress cap rates, boosting NAVs.
- Green Buildings: ESG‑aligned REITs trade at premium; index’s “green” share expected to double within 3 years.
Key Takeaways
- S&P Global REIT Index tracks 270 + equity REITs worldwide, yielding about 4 %.
- U.S. dominates weight, but Asia‑Pac and Europe provide critical diversification.
- Sector shifts—data centers up, offices down—mirror secular real‑estate trends.