DPYE.L vs. IUSP.L

Last updated Jun 5, 2026

DPYE.L (iShares Developed Markets Property Yield UCITS ETF EUR Hedged (Acc)) and IUSP.L (iShares US Property Yield UCITS ETF) are both REIT funds from iShares - DPYE.L tracks the FTSE EPRA/NAREIT Developed Dividend+ (EUR Hedged) while IUSP.L tracks the FTSE EPRA Nareit United States TR USD. Both are passively managed. Over the past 5 years, DPYE.L returned 0.11%/yr vs 5.41%/yr for IUSP.L. Their correlation of 0.83 suggests significant overlap in exposure. DPYE.L charges 0.64%/yr vs 0.40%/yr for IUSP.L.

Performance

DPYE.L vs. IUSP.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 US Property Yield UCITS ETF (IUSP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DPYE.L is traded in EUR, while IUSP.L is traded in GBp. To make them comparable, the IUSP.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 IUSP.L's 14.47% 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*: —

IUSP.L

• 1D: -0.08%
• 1M: 1.88%
• YTD: 14.47%
• 6M: 14.41%
• 1Y: 13.54%
• 3Y*: 8.50%
• 5Y*: 5.41%
• 10Y*: 5.51%

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

DPYE.L vs. IUSP.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%
IUSP.L iShares US Property Yield UCITS ETF	14.49%	-8.94%	12.69%	9.97%	-18.93%	54.32%	-18.00%	26.16%	14.01%

Correlation

The correlation between DPYE.L and IUSP.L is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Mar 9, 2018	0.83

The correlation between DPYE.L and IUSP.L has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

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

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

Return for Risk

DPYE.L vs. IUSP.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

IUSP.L

IUSP.L Risk / Return Rank: 41
IUSP.L Sharpe Ratio Rank: 38
IUSP.L Sortino Ratio Rank: 37
IUSP.L Omega Ratio Rank: 36
IUSP.L Calmar Ratio Rank: 53
IUSP.L Martin Ratio Rank: 39

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. IUSP.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 US Property Yield UCITS ETF (IUSP.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	IUSP.L	Difference
Sharpe ratio: Return per unit of total volatility	0.80	1.05	-0.25
Sortino ratio: Return per unit of downside risk	1.21	1.50	-0.29
Omega ratio: Gain probability vs. loss probability	1.14	1.19	-0.04
Calmar ratio: Return relative to maximum drawdown	0.95	2.23	-1.28
Martin ratio: Return relative to average drawdown	3.18	4.62	-1.44
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. IUSP.L - Sharpe Ratio Comparison

The current DPYE.L Sharpe Ratio is 0.80, which is comparable to the IUSP.L Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of DPYE.L and IUSP.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	IUSP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	1.05	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.31	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.31	-0.16

Drawdowns

DPYE.L vs. IUSP.L - Drawdown Comparison

The maximum DPYE.L drawdown since its inception was -41.46%, smaller than the maximum IUSP.L drawdown of -66.90%. Use the drawdown chart below to compare losses from any high point for DPYE.L and IUSP.L.

Drawdown Indicators

	DPYE.L	IUSP.L	Difference
Max Drawdown Largest peak-to-trough decline	-41.46%	-66.90%	+25.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	-6.06%	-3.26%
Max Drawdown (3Y) Largest decline over 3 years	-17.31%	-22.88%	+5.57%
Max Drawdown (5Y) Largest decline over 5 years	-33.12%	-30.19%	-2.93%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.73%	—
Current Drawdown Current decline from peak	-8.13%	-3.51%	-4.62%
Average Drawdown Average peak-to-trough decline	-12.75%	-12.65%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.93%	-0.15%

Volatility

DPYE.L vs. IUSP.L - Volatility Comparison

iShares Developed Markets Property Yield UCITS ETF EUR Hedged (Acc) (DPYE.L) and iShares US Property Yield UCITS ETF (IUSP.L) have volatilities of 3.37% and 3.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DPYE.L	IUSP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	3.45%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	8.37%	9.12%	-0.75%
Volatility (1Y) Calculated over the trailing 1-year period	11.05%	12.89%	-1.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.02%	17.30%	-2.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.24%	19.99%	-2.75%

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

DPYE.L has a 0.64% expense ratio, which is higher than IUSP.L's 0.40% expense ratio.

Dividends

DPYE.L vs. IUSP.L - Dividend Comparison

DPYE.L has not paid dividends to shareholders, while IUSP.L's dividend yield for the trailing twelve months is around 4.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%	0.00%
IUSP.L iShares US Property Yield UCITS ETF	4.01%	4.31%	3.87%	4.00%	4.62%	2.87%	4.40%	4.08%	5.87%	4.28%	4.37%	4.42%

Frequently Asked Questions

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

DPYE.L and IUSP.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DPYE.L or IUSP.L?

On fees, IUSP.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

IUSP.L is cheaper with a 0.40% expense ratio, compared with 0.64% for DPYE.L.

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

DPYE.L tracks FTSE EPRA/NAREIT Developed Dividend+ (EUR Hedged), while IUSP.L tracks FTSE EPRA Nareit United States TR USD. Their fees differ too: 0.64% for DPYE.L and 0.40% for IUSP.L.