Residential Real Estate vs the S&P 500 (REZ): is it outperforming?
Over the past month, REZ has outperformed the S&P 500 by 2.3 points. Here is where that puts it in the sector rotation — updated daily.
Where REZ sits on the rotation map
Residential Real Estate highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.
REZ vs SPY: head-to-head returns
REZ (residential real estate) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means REZ won that window.
Data as of 2026-07-14 · computed from daily adjusted closes · how we measure
The read
Residential Real Estate (REZ) has just turned the corner. Over the longer, time-shifted window it trailed the S&P 500 by 1.4 points, but over the past month it has moved clearly ahead of the market — a 2.3-point edge that puts it in the improving quadrant. Ranked by one-month spread, it currently stands #21 of the 115 groups Zensei tracks.
On the shorter tape, REZ's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. REZ's relative-strength line is holding around its moving averages — the trend is intact but no longer extending. The longer trend remains healthier than the recent tape suggests — the kind of divergence worth rechecking in a week.
The exposure comes via iShares Residential and Multisector Real Estate ETF, whose 38 tracked holdings are led by WELLTOWER INC, PUBLIC STORAGE and VENTAS INC. Weighted by portfolio, the fund's holdings trade at roughly 67.8× earnings and 9.7× sales. The thing to watch from here is confirmation: improving groups that hold a positive one-month spread long enough for the longer window to turn are the classic early-rotation entries — the ones that fail fall back quickly.
What's inside REZ
Top 5 of 38 tracked holdings, by portfolio weight.
Residential Real Estate vs the market — common questions
Is residential real estate outperforming the S&P 500?
Right now, yes: over the past month REZ has outperformed the S&P 500 by 2.3 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is REZ?
REZ is iShares Residential and Multisector Real Estate ETF, the fund Zensei uses to measure the residential real estate group against the S&P 500 benchmark (SPY).
Which stocks are in REZ?
REZ's largest tracked positions are WELLTOWER INC, PUBLIC STORAGE, VENTAS INC, EXTRA SPACE STORAGE INC, EQUITY RESIDENTIAL — 38 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.
What quadrant is residential real estate in right now?
As of the latest daily data, residential real estate is in the improving quadrant — behind the market over the longer window, but ahead over the past month. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track residential real estate against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.