SPDR S&P/ASX 200 Listed Property ETF (SLF) Review & Analysis

MER · Top 10%AUM · Top 50%1Y Return · #395 of 4263Y Return · #181 of 3005Y Return · #167 of 225

What's new this monthData to 30 September 2026

−1.7% in September (total return), ahead of the median property & infrastructure ETF at −3.9%.
Investors withdrew a net $5.2m (-1.1% of the fund).
The unit price closed the month at $11.55, 22% below its 12-month high (range $10.98 to $14.86).

About SLF

SLF is a property & infrastructure ETF from State Street (SPDR), listed on the ASX since February 2002. With $451m under management it is number 15 of 19 property & infrastructure ETFs by size. The management fee is 0.16% a year, about $16 on every $10,000 invested, cheaper than the typical property & infrastructure ETF at 0.47%.

Its largest holdings are Goodman Group, Scentre Group and Stockland, and the top 10 make up 91% of the fund. By sector it leans towards real estate (100%).

Over five years it has returned +2.4% a year including distributions, against +2.5% for the median property & infrastructure ETF. With its focus on property, it is the kind of fund many investors use as a smaller satellite holding alongside a diversified core.

SLF distributions and dividend dates

SLF pays distributions quarterly, usually going ex-distribution in March, June, September and December, with payment about 62 days after the ex-date.

The latest distribution was $0.0739 per unit (0% franked), ex-distribution on 29 September 2026 and paid on 30 November 2026. To receive it you need to own SLF before the ex-date.

Its distribution yield over the past 12 months is about 5.0%. Distributions vary and past payments are not a guide to future ones.

From ASX announcements, updated nightly. See every ETF in the dividend calendar.

Compare SLF Check overlap State Street (SPDR) website ↗

Compare SLF with

SLFvsVAP

Vanguard Australian Property Securities Index ETF

Fee	0.16%	0.23%
1 year	−14.1%	−14.3%
5 yrs p.a.	+2.4%	+2.3%
Size	$451m	$2.8bn

Same holdings95%Near identical

Full comparison →

SLFvsGIFL

Lazard Global Listed Infrastructure Active ETF

Fee	0.16%	0.98%
1 year	−14.1%	+6.1%
5 yrs p.a.	+2.4%	–
Size	$451m	$3.0bn

Same holdingsNo holdings data

Full comparison →

SLFvsMVA

VanEck Australian Property ETF

Fee	0.16%	0.35%
1 year	−14.1%	−11.2%
5 yrs p.a.	+2.4%	+2.5%
Size	$451m	$825m

Same holdings63%Lots in common

Full comparison →

SLFvsREIT

VanEck FTSE International Property (AUD Hedged) ETF

Fee	0.16%	0.20%
1 year	−14.1%	+6.4%
5 yrs p.a.	+2.4%	−0.5%
Size	$451m	$798m

Same holdings0%No companies in common

Full comparison →

SLF price by TradingView

Stock Code	SLF
Fund Manager	State Street (SPDR)
Asset Class	Property & infrastructure
AUM	$451m
MER (%)	0.16%
Net flows (Sep)	−$5.2m
Last Price	$11.55
52-Week Range	$10.98 – $14.86
Bid/Ask Spread	0.13%
Listing Date	18/02/2002
Exchange	ASX
Index tracked	S&P/ASX 200 A-REIT Index
Issuer website	State Street (SPDR) ↗

Performance (% return)

1 month−1.7%

1 year−14.1%

3 years p.a.+9.3%

5 years p.a.+2.4%

$10,000 invested…

1 year ago$8,5903 years ago$13,0665 years ago$11,233

Value at 30 September 2026 with distributions reinvested, before tax and brokerage.

Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.

SLF at a glance: strengths and things to watch

👍 Strengths

Low cost. At 0.16% a year it is cheaper than 85% of property & infrastructure ETFs.
Long track record. Listed since 2002, through several market cycles.

⚠️ Things to watch

Concentrated. The top 10 holdings make up 91% of the fund, so a few companies drive the result.

Worked out from SLF's fees, size, flows, returns and trend against the 20 property & infrastructure ETFs in Australia, to 30 September 2026. General information, not a recommendation.

etfadviserTrend check

Base since 30 Oct 2026

SLF is in a base. Here's why that matters.

SLF's moving averages are tangled and the price is moving sideways. The trend hasn't picked a direction yet. Its price is 14.0% below its 12-month high.

Why it matters: Bases are where the next big move starts. A breakout can begin a new uptrend, while a breakdown can start a long fall. Buying a satellite before the breakout often means waiting months for nothing to happen.

At ETF Adviser the core of a portfolio stays invested through every stage, and satellite ETFs are only bought in an uptrend. Members get a weekly update on which ETFs are breaking out of a base and which trends have broken.

Get the weekly trend updates: try it free for 30 days How base and trend works →See every ETF's stage →Visit etfadviser.com.au →

UptrendBaseDowntrend

SLF weekly price, past 12 months, shaded by trend stage. Stage as at 7 November 2026, updated weekly. A technical label, not a recommendation.

SLF vs its benchmark

How SLF has done against the S&P/ASX 200 A-REIT Index, after fees. For an index fund, a small shortfall roughly the size of the fee is normal.

	SLF	Benchmark	Difference
1 year	-14.39%	-14.34%	-0.05%
3 years p.a.	+9.21%	+9.44%	-0.23%
5 years p.a.	+2.74%	+2.98%	-0.24%

Issuer figures to 30 September 2026, fund returns after fees. Source: State Street (SPDR). Compare more ETFs vs their benchmark →

Investment Focus

Themes & Sectors

Property

Portfolio Breakdown

Top 10 holdings (90.7% of the fund)

Symbol	Company	% assets
GMG		38.10%
SCG		12.87%
SGP		7.22%
CHC		6.73%
VCX		6.62%
GPT		6.45%
MGR		5.08%
DXS		4.25%
RGN		1.83%
CLW		1.51%

Sector breakdown

Real Estate100.0%

Holdings from the issuer's published portfolio as at 30 October 2026. Breakdowns are based on the largest 18 positions, covering 100% of the fund. Compare SLF's holdings with other ETFs →

Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.

Similar ETFs

Code	Name	Same holdings	MER	AUM	1Y	3Y p.a.	5Y p.a.
VAP	Vanguard Australian Property Securities Index ETF	95%	0.23%	$2.8bn	−14.3%	+8.9%	+2.3%
MVA	VanEck Australian Property ETF	63%	0.35%	$825m	−11.2%	+9.7%	+2.5%
GIFL	Lazard Global Listed Infrastructure Active ETF Active	–	0.98%	$3.0bn	+6.1%	–	–
REIT	VanEck FTSE International Property (AUD Hedged) ETF Currency hedged	0%	0.20%	$798m	+6.4%	+8.9%	−0.5%
GLPR	iShares Core FTSE Global Property Ex Australia (AUD Hedged) ETF Currency hedged	0%	0.15%	$695m	+6.3%	+8.7%	–
PWER	First Sentier Global Listed Infrastructure (Hedged) Active ETF Currency hedged	–	0.95%	–	–	–	–

Same holdings is the share of SLF's money in companies the other ETF also holds, weighted by size. Most similar first, then ETFs in the same category. See every ETF like SLF →

SLF vs its closest alternatives

What actually differs between SLF and the ETFs most like it. Data to 30 Sep 2026.

VAP Vanguard Australian Property Securities Index ETF

They share 95% of their holdings: largely the same companies.
SLF is cheaper (0.16% vs 0.23%), worth about $4,891 on $100,000 over 20 years.
Over 3 years, a year: SLF +9.3%, VAP +8.9% (almost identical).
VAP is about 6 times larger ($2.8bn vs $451m), which usually means tighter trading spreads.

Full SLF vs VAP comparison →

MVA VanEck Australian Property ETF

They share 63% of their holdings: a lot of doubling up.
SLF is cheaper (0.16% vs 0.35%), worth about $13,134 on $100,000 over 20 years.
Over 3 years, a year: SLF +9.3%, MVA +9.7% (almost identical).

Full SLF vs MVA comparison →

GIFL Lazard Global Listed Infrastructure Active ETF

SLF is cheaper (0.16% vs 0.98%), worth about $53,633 on $100,000 over 20 years.
Over 1 year: SLF −14.1%, GIFL +6.1% (GIFL ahead by 20.2 percentage points).
GIFL is about 7 times larger ($3.0bn vs $451m), which usually means tighter trading spreads.
Different structure: SLF is a standard fund, GIFL is actively managed.

Full SLF vs GIFL comparison →

General information only. Past performance is not a reliable indicator of future performance.

Popular comparisons

VAP vs SLF GIFL vs SLF MVA vs SLF

SLF FAQs

What is the fee for SLF?

SLF charges a management fee (MER) of 0.16% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is SLF?

SLF had $451m in funds under management as at 30 September 2026.

How has SLF performed?

SLF returned −14.1% over the year to 30 September 2026 (total return, including distributions). Over three years it returned +9.3% a year. Past performance is not a reliable indicator of future performance.

Who manages SLF?

SLF is managed by State Street (SPDR) and has been listed since February 2002.

Does SLF pay monthly?

SLF pays distributions four times a year, usually going ex-distribution in March, June, September and December. It does not pay monthly. If you want monthly income, see the ETF dividend calendar on ReviewETF for funds that pay every month.

When is the next SLF distribution?

Based on its usual schedule, SLF's next distribution should go ex around the start of December (around day 30), with payment about 62 days later. Dates can move, so check State Street (SPDR)'s announcements to confirm.

What is SLF's dividend yield?

SLF's distribution yield over the past 12 months was about 5.6%. Yields change with the unit price and each payment, and are not a forecast.

What does SLF hold?

SLF's largest holdings are Goodman Group (38.1%), Scentre Group (12.9%), Stockland (7.2%), Charter Hall Group (6.7%), Vicinity Ltd (6.6%). It holds about 18 investments in total. The biggest sector is real estate at 100%. Holdings as at 30 October 2026.

Disclaimer

This review is general information only and does not take into account your objectives, financial situation or needs. Consider the State Street (SPDR) product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.