Investment Outlook - Global Opportunities

International Real Estate: The Lay of the Land


Dozens of mutual funds and exchange-traded funds (ETFs) invest in global real estate. Here are five smart options for investors looking at property markets around the world

Alpine International Real Estate (EGLRX)Sam Lieber's fund is volatile, but in good times it soars. He bets big on emerging markets; Brazil represents more than one-quarter of the portfolio. Assets: $754 million; 1-Year Return: 123.6%; 3-Year Return: -14.2%

Cohen & Steers Inter-national Realty (IRFAX)

Sticks fairly close to its benchmark, the S&P Developed ex-U.S. Property Index. Biggest stakes: Australia (22%), Japan (20%), and Hong Kong (17%). Assets: 1.4 billion; 1-Year Return: 45.3; 3-Year Return: -11.2

ING International Real Estate (IIRAX)A large-cap value fund tilted heavily toward Asia, with 71% of assets recently invested there. Assets: 558 million; 1-Year Return: 39.0; 3-Year Return: -9.0

SPDR Dow Jones International Real Estate (RWX)This ETF tracks the Dow Jones Global ex-U.S. Select Real Estate Index. More than one-third of its holdings are in Australia and Japan. Assets: 957 million; 1-Year Return: 41.5; 3-Year Return: n/a

Third Avenue Real Estate Value (TAREX)A deep-value fund that invests in the U.S. and abroad and has its largest stake in Asia, with a focus on Hong Kong. Assets: 1.4 billion; 1-Year Return: 49.6; 3-Year Return: -10.8

Returns through Dec. 14 Data: Morningstar, company reports

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