DPYA.L vs. TRET.L

Last updated Jun 5, 2026

DPYA.L (iShares Developed Markets Property Yield UCITS ETF USD (Acc)) and TRET.L (VanEck Global Real Estate UCITS ETF) are both REIT funds - DPYA.L tracks the FTSE EPRA Nareit Global TR USD while TRET.L tracks the GPR Global 100 Index. Both are passively managed. Over the past 5 years, DPYA.L returned 0.70%/yr vs 2.34%/yr for TRET.L. With a 0.96 correlation, they move nearly in lockstep. DPYA.L charges 0.59%/yr vs 0.25%/yr for TRET.L.

Performance

DPYA.L vs. TRET.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Developed Markets Property Yield UCITS ETF USD (Acc) (DPYA.L) and VanEck Global Real Estate UCITS ETF (TRET.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DPYA.L achieves a 6.77% return, which is significantly higher than TRET.L's 4.02% return.

DPYA.L

• 1D: 0.28%
• 1M: -1.15%
• YTD: 6.77%
• 6M: 7.84%
• 1Y: 10.62%
• 3Y*: 8.60%
• 5Y*: 0.70%
• 10Y*: —

TRET.L

• 1D: 0.22%
• 1M: -2.23%
• YTD: 4.02%
• 6M: 3.83%
• 1Y: 10.68%
• 3Y*: 10.83%
• 5Y*: 2.34%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DPYA.L vs. TRET.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DPYA.L iShares Developed Markets Property Yield UCITS ETF USD (Acc)	6.77%	9.25%	-0.10%	9.70%	-24.03%	25.35%	-9.35%	14.38%
TRET.L VanEck Global Real Estate UCITS ETF	4.02%	14.43%	1.05%	13.94%	-25.68%	29.73%	-6.91%	10.01%

Correlation

The correlation between DPYA.L and TRET.L is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 21, 2019	0.96

The correlation between DPYA.L and TRET.L has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

DPYA.L vs. TRET.L - Sectors Allocation Comparison

Sectors	DPYA.L	TRET.L
Real Estate	100.0%	99.9%
Financial Services	0.1%	0.0%
Consumer Cyclical	0.0%	0.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

DPYA.L vs. TRET.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DPYA.L

DPYA.L Risk / Return Rank: 25
DPYA.L Sharpe Ratio Rank: 25
DPYA.L Sortino Ratio Rank: 25
DPYA.L Omega Ratio Rank: 24
DPYA.L Calmar Ratio Rank: 23
DPYA.L Martin Ratio Rank: 27

TRET.L

TRET.L Risk / Return Rank: 24
TRET.L Sharpe Ratio Rank: 24
TRET.L Sortino Ratio Rank: 25
TRET.L Omega Ratio Rank: 24
TRET.L Calmar Ratio Rank: 23
TRET.L Martin Ratio Rank: 26

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DPYA.L vs. TRET.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Developed Markets Property Yield UCITS ETF USD (Acc) (DPYA.L) and VanEck Global Real Estate UCITS ETF (TRET.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DPYA.L	TRET.L	Difference
Sharpe ratio: Return per unit of total volatility	0.88	0.86	+0.02
Sortino ratio: Return per unit of downside risk	1.34	1.31	+0.03
Omega ratio: Gain probability vs. loss probability	1.16	1.15	0.00
Calmar ratio: Return relative to maximum drawdown	1.06	1.01	+0.05
Martin ratio: Return relative to average drawdown	3.66	3.55	+0.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DPYA.L vs. TRET.L - Sharpe Ratio Comparison

The current DPYA.L Sharpe Ratio is 0.88, which is comparable to the TRET.L Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of DPYA.L and TRET.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DPYA.L	TRET.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	0.86	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.14	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.22	-0.05

Drawdowns

DPYA.L vs. TRET.L - Drawdown Comparison

The maximum DPYA.L drawdown since its inception was -42.96%, roughly equal to the maximum TRET.L drawdown of -42.26%. Use the drawdown chart below to compare losses from any high point for DPYA.L and TRET.L.

Drawdown Indicators

	DPYA.L	TRET.L	Difference
Max Drawdown Largest peak-to-trough decline	-42.96%	-42.26%	-0.70%
Max Drawdown (1Y) Largest decline over 1 year	-9.97%	-10.49%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-18.07%	-16.92%	-1.15%
Max Drawdown (5Y) Largest decline over 5 years	-33.79%	-33.35%	-0.44%
Current Drawdown Current decline from peak	-3.81%	-5.89%	+2.08%
Average Drawdown Average peak-to-trough decline	-12.39%	-11.96%	-0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	3.00%	-0.10%

Volatility

DPYA.L vs. TRET.L - Volatility Comparison

The current volatility for iShares Developed Markets Property Yield UCITS ETF USD (Acc) (DPYA.L) is 3.57%, while VanEck Global Real Estate UCITS ETF (TRET.L) has a volatility of 3.91%. This indicates that DPYA.L experiences smaller price fluctuations and is considered to be less risky than TRET.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DPYA.L	TRET.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.57%	3.91%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	9.15%	9.60%	-0.45%
Volatility (1Y) Calculated over the trailing 1-year period	12.02%	12.33%	-0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.23%	16.82%	-0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.25%	19.18%	-0.93%

DPYA.L vs. TRET.L - Expense Ratio Comparison

DPYA.L has a 0.59% expense ratio, which is higher than TRET.L's 0.25% expense ratio.

Dividends

DPYA.L vs. TRET.L - Dividend Comparison

DPYA.L has not paid dividends to shareholders, while TRET.L's dividend yield for the trailing twelve months is around 3.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DPYA.L iShares Developed Markets Property Yield UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TRET.L VanEck Global Real Estate UCITS ETF	3.49%	3.54%	3.56%	3.54%	4.56%	1.86%	4.18%	0.62%

Frequently Asked Questions

Can I hold both DPYA.L and TRET.L in my portfolio?

With a correlation of 0.93, DPYA.L and TRET.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, DPYA.L or TRET.L?

On fees, TRET.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DPYA.L or TRET.L?

TRET.L is cheaper with a 0.25% expense ratio, compared with 0.59% for DPYA.L.

What is the main difference between DPYA.L and TRET.L?

DPYA.L tracks FTSE EPRA Nareit Global TR USD, while TRET.L tracks GPR Global 100 Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.59% for DPYA.L and 0.25% for TRET.L.