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SLF

$11.43-1.21%Property / REITs51/100
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SPDR S&P/ASX 200 Listed Property Fund · State Street

Data as at 29 March 2026

TL;DR

Tracks only the A-REITs in the ASX 200, excluding smaller REITs in the ASX 201-300 range. Australia's oldest listed property ETF, listed in February 2002.

MER (Annual Fee)
0.40%
#4 lowest in Property / REITs
1Y Return
-4.8%
3Y Return (p.a.)
+8.0%
Dividend Yield
4.60%
Trailing 12 months
AUM
$511.2M
Assets under management
Avg Daily Turnover
$554K
Avg shares × unit price
Unit Price
$11.43
As at 29 March 2026
Provider
State Street
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Strategy

Managed by State Street (SPDR). Follows the S&P/ASX 200 A-REIT Index, which is slightly narrower than the S&P/ASX 300 A-REIT Index tracked by VAP. The holdings are nearly identical in practice since most major REITs are in the ASX 200.

Top Holdings

Key Fact

SLF listed in February 2002 — one of Australia's earliest ETFs. Despite its 20+ year history, VAP has attracted far more AUM and trading volume, primarily because Vanguard has a larger retail distribution network.

Suited for

Investors who specifically want ASX 200 REIT exposure through State Street's brand. In practice, SLF and VAP hold very similar portfolios.

Risks

Same concentration risk as VAP, with Goodman Group dominating at over 35%. SLF has significantly lower AUM than VAP, which can mean wider bid-ask spreads on lower-volume trading days.

ETFCheck Score51/100
Fees (40%)40
Fund Size (25%)37
Liquidity (20%)52
Yield (15%)100
How scores are calculated →
Other Property / REITs ETFs
VAP
0.23% MER
63
REIT
0.29% MER
59
MVA
0.35% MER
56
DJRE
0.43% MER
39View all Property / REITs ETFs →

Frequently Asked Questions - SLF

Is SLF worth holding when VAP tracks the same index at nearly half the fee?+
SLF and VAP both track the S&P/ASX 300 A-REIT Index, delivering near-identical returns - SLF returned 15.8% versus VAP's 16.2% over one year, with the gap largely explained by SLF's 0.40% MER versus VAP's 0.23%. For buy-and-hold SMSF investors, VAP's fee advantage compounds significantly over decades. However, SLF may suit investors already within the State Street platform ecosystem or those who find better liquidity and tighter spreads on SLF during certain trading sessions.
What is the historical significance of SLF for Australian property ETF investors?+
SLF is the oldest ASX-listed REIT ETF, launched in 2002, giving it a track record exceeding two decades through multiple property cycles including the GFC. This longevity provides investors with genuine long-term performance data unavailable from newer competitors. For SMSF trustees conducting due diligence, SLF's full-cycle history demonstrates how Australian REITs behave during credit crunches, interest rate hikes, and recoveries - valuable context that helps set realistic expectations for future drawdowns and income stability.
How are SLF distributions treated for Australian tax purposes?+
SLF distributions primarily consist of unfranked income from underlying REIT rental earnings, meaning no franking credits are available to offset personal or SMSF tax liabilities. A portion of distributions typically includes tax-deferred amounts classified as returns of capital by the ATO, which reduce your cost base and defer tax until you sell units. Investors should retain annual AMMA tax statements carefully, as incorrectly reporting these components can trigger ATO compliance issues, particularly for SMSFs with strict audit requirements.
Should income-focused retirees prefer SLF or look at alternatives like MVA for higher yield?+
SLF's 3.98% yield is the lowest among ASX-listed Australian REIT ETFs, trailing MVA's 4.42% and VAP's 4.15%. Retirees prioritising income would likely find MVA more attractive, as its equal-weighted approach captures higher-yielding retail and office REITs. However, SLF's cap-weighted methodology means it holds more Goodman Group, offering greater capital growth potential. The optimal choice depends on whether your SMSF strategy prioritises regular distributions for pension payments or total return including capital appreciation over time.