DPYE.L vs. DPYG.L

Last updated Jun 5, 2026

DPYE.L (iShares Developed Markets Property Yield UCITS ETF EUR Hedged (Acc)) and DPYG.L (iShares Developed Markets Property Yield UCITS ETF GBP Hedged (Dist)) are both REIT funds from iShares - DPYE.L tracks the FTSE EPRA/NAREIT Developed Dividend+ (EUR Hedged) while DPYG.L tracks the FTSE EPRA/NAREIT Developed Dividend+ (GBP Hedged). Both are passively managed. Over the past 5 years, DPYE.L returned 0.11%/yr vs 1.26%/yr for DPYG.L. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.64% expense ratio.

Performance

DPYE.L vs. DPYG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Developed Markets Property Yield UCITS ETF EUR Hedged (Acc) (DPYE.L) and iShares Developed Markets Property Yield UCITS ETF GBP Hedged (Dist) (DPYG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DPYE.L is traded in EUR, while DPYG.L is traded in GBP. To make them comparable, the DPYG.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, DPYE.L achieves a 5.70% return, which is significantly lower than DPYG.L's 7.75% return.

DPYE.L

• 1D: -0.05%
• 1M: -0.96%
• YTD: 5.70%
• 6M: 6.32%
• 1Y: 8.86%
• 3Y*: 6.76%
• 5Y*: 0.11%
• 10Y*: —

DPYG.L

• 1D: 0.16%
• 1M: -2.43%
• YTD: 7.75%
• 6M: 8.84%
• 1Y: 8.26%
• 3Y*: 8.28%
• 5Y*: 1.26%
• 10Y*: —

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

DPYE.L vs. DPYG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DPYE.L iShares Developed Markets Property Yield UCITS ETF EUR Hedged (Acc)	5.70%	5.47%	0.74%	8.05%	-23.49%	27.34%	-12.56%	18.22%	0.64%
DPYG.L iShares Developed Markets Property Yield UCITS ETF GBP Hedged (Dist)	7.75%	1.78%	6.99%	11.78%	-26.92%	36.05%	-18.33%	26.86%	0.65%

Correlation

The correlation between DPYE.L and DPYG.L is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 9, 2018	0.90

The correlation between DPYE.L and DPYG.L has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

DPYE.L vs. DPYG.L - Sectors Allocation Comparison

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

Return for Risk

DPYE.L vs. DPYG.L — Risk / Return Rank

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

DPYE.L

DPYE.L Risk / Return Rank: 23
DPYE.L Sharpe Ratio Rank: 24
DPYE.L Sortino Ratio Rank: 23
DPYE.L Omega Ratio Rank: 22
DPYE.L Calmar Ratio Rank: 21
DPYE.L Martin Ratio Rank: 25

DPYG.L

DPYG.L Risk / Return Rank: 28
DPYG.L Sharpe Ratio Rank: 29
DPYG.L Sortino Ratio Rank: 28
DPYG.L Omega Ratio Rank: 27
DPYG.L Calmar Ratio Rank: 26
DPYG.L Martin Ratio Rank: 30

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.

DPYE.L vs. DPYG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Developed Markets Property Yield UCITS ETF EUR Hedged (Acc) (DPYE.L) and iShares Developed Markets Property Yield UCITS ETF GBP Hedged (Dist) (DPYG.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.

	DPYE.L	DPYG.L	Difference
Sharpe ratio: Return per unit of total volatility	0.80	0.68	+0.12
Sortino ratio: Return per unit of downside risk	1.21	1.03	+0.18
Omega ratio: Gain probability vs. loss probability	1.14	1.12	+0.02
Calmar ratio: Return relative to maximum drawdown	0.95	1.02	-0.07
Martin ratio: Return relative to average drawdown	3.18	3.06	+0.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DPYE.L vs. DPYG.L - Sharpe Ratio Comparison

The current DPYE.L Sharpe Ratio is 0.80, which is comparable to the DPYG.L Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of DPYE.L and DPYG.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

	DPYE.L	DPYG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	0.68	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.07	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.19	-0.05

Drawdowns

DPYE.L vs. DPYG.L - Drawdown Comparison

The maximum DPYE.L drawdown since its inception was -41.46%, smaller than the maximum DPYG.L drawdown of -48.58%. Use the drawdown chart below to compare losses from any high point for DPYE.L and DPYG.L.

Drawdown Indicators

	DPYE.L	DPYG.L	Difference
Max Drawdown Largest peak-to-trough decline	-41.46%	-48.58%	+7.12%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	-8.17%	-1.15%
Max Drawdown (3Y) Largest decline over 3 years	-17.31%	-18.85%	+1.54%
Max Drawdown (5Y) Largest decline over 5 years	-33.12%	-34.80%	+1.68%
Current Drawdown Current decline from peak	-8.13%	-5.81%	-2.32%
Average Drawdown Average peak-to-trough decline	-12.75%	-13.92%	+1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.71%	+0.07%

Volatility

DPYE.L vs. DPYG.L - Volatility Comparison

The current volatility for iShares Developed Markets Property Yield UCITS ETF EUR Hedged (Acc) (DPYE.L) is 3.37%, while iShares Developed Markets Property Yield UCITS ETF GBP Hedged (Dist) (DPYG.L) has a volatility of 3.56%. This indicates that DPYE.L experiences smaller price fluctuations and is considered to be less risky than DPYG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DPYE.L	DPYG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	3.56%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	8.37%	8.90%	-0.53%
Volatility (1Y) Calculated over the trailing 1-year period	11.05%	12.23%	-1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.02%	16.81%	-1.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.24%	19.66%	-2.42%

DPYE.L vs. DPYG.L - Expense Ratio Comparison

Both DPYE.L and DPYG.L have an expense ratio of 0.64%.

Dividends

DPYE.L vs. DPYG.L - Dividend Comparison

DPYE.L has not paid dividends to shareholders, while DPYG.L's dividend yield for the trailing twelve months is around 2.95%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DPYE.L iShares Developed Markets Property Yield UCITS ETF EUR Hedged (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DPYG.L iShares Developed Markets Property Yield UCITS ETF GBP Hedged (Dist)	2.95%	3.02%	3.11%	3.00%	3.71%	2.13%	2.98%	2.95%	2.99%

Frequently Asked Questions

Can I hold both DPYE.L and DPYG.L in my portfolio?

With a correlation of 0.92, DPYE.L and DPYG.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, DPYE.L or DPYG.L?

Both ETFs have the same 0.64% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DPYE.L or DPYG.L?

DPYE.L and DPYG.L have the same expense ratio: 0.64% per year.

What is the main difference between DPYE.L and DPYG.L?

DPYE.L tracks FTSE EPRA/NAREIT Developed Dividend+ (EUR Hedged), while DPYG.L tracks FTSE EPRA/NAREIT Developed Dividend+ (GBP Hedged).