DPYE.L vs. SEGA.L

Last updated Jul 16, 2026

DPYE.L (iShares Developed Markets Property Yield UCITS ETF EUR Hedged (Acc)) and SEGA.L (iShares Core Euro Government Bond UCITS ETF (Dist)) are both exchange-traded funds - DPYE.L is a REIT fund tracking the FTSE EPRA/NAREIT Developed Dividend+ (EUR Hedged), while SEGA.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR. Both are passively managed. Over the past 5 years, DPYE.L returned 0.03%/yr vs -2.78%/yr for SEGA.L. At a 0.13 correlation, their price movements are largely independent. DPYE.L charges 0.64%/yr vs 0.09%/yr for SEGA.L.

Performance

DPYE.L vs. SEGA.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 Core Euro Government Bond UCITS ETF (Dist) (SEGA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DPYE.L is traded in EUR, while SEGA.L is traded in GBP. To make them comparable, the SEGA.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 9.11% return, which is significantly higher than SEGA.L's -1.45% return.

DPYE.L

• 1D: -0.31%
• 1M: -0.00%
• 6M: 7.12%
• YTD: 9.11%
• 1Y: 11.94%
• 3Y*: 6.81%
• 5Y*: 0.03%
• 10Y*: —

SEGA.L

• 1D: -0.14%
• 1M: -0.67%
• 6M: -1.86%
• YTD: -1.45%
• 1Y: -0.57%
• 3Y*: 2.01%
• 5Y*: -2.78%
• 10Y*: -0.63%

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

DPYE.L vs. SEGA.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)	9.11%	5.33%	0.90%	7.96%	-23.49%	27.34%	-12.56%	18.22%	2.14%
SEGA.L iShares Core Euro Government Bond UCITS ETF (Dist)	-1.45%	0.36%	1.74%	6.98%	-18.14%	-3.98%	4.68%	7.91%	0.27%

Correlation

The correlation between DPYE.L and SEGA.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (All Time) Calculated using the full available price history since Mar 5, 2018	0.13

Over the past year, DPYE.L and SEGA.L have become more correlated (0.38) than their long-term average of 0.13, meaning their price movements have been converging.

Return for Risk

DPYE.L vs. SEGA.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: 33
DPYE.L Sharpe Ratio Rank: 35
DPYE.L Sortino Ratio Rank: 34
DPYE.L Omega Ratio Rank: 33
DPYE.L Calmar Ratio Rank: 30
DPYE.L Martin Ratio Rank: 35

SEGA.L

SEGA.L Risk / Return Rank: 5
SEGA.L Sharpe Ratio Rank: 5
SEGA.L Sortino Ratio Rank: 5
SEGA.L Omega Ratio Rank: 5
SEGA.L Calmar Ratio Rank: 5
SEGA.L Martin Ratio Rank: 5

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. SEGA.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 Core Euro Government Bond UCITS ETF (Dist) (SEGA.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DPYE.L	SEGA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.06	-0.12	+1.19
Sortino ratio: Return per unit of downside risk	1.58	-0.14	+1.72
Omega ratio: Gain probability vs. loss probability	1.19	0.98	+0.21
Calmar ratio: Return relative to maximum drawdown	1.29	-0.15	+1.43
Martin ratio: Return relative to average drawdown	4.32	-0.34	+4.66

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

The current DPYE.L Sharpe Ratio is 1.06, which is higher than the SEGA.L Sharpe Ratio of -0.12. The chart below compares the historical Sharpe Ratios of DPYE.L and SEGA.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.

Drawdowns

DPYE.L vs. SEGA.L - Drawdown Comparison

The maximum DPYE.L drawdown since its inception was -41.46%, which is greater than SEGA.L's maximum drawdown of -23.00%. Use the drawdown chart below to compare losses from any high point for DPYE.L and SEGA.L.

Drawdown Indicators

	DPYE.L	SEGA.L	Difference
Max Drawdown Largest peak-to-trough decline	-41.46%	-23.00%	-18.46%
Max Drawdown (1Y) Largest decline over 1 year	-9.24%	-3.90%	-5.34%
Max Drawdown (3Y) Largest decline over 3 years	-17.40%	-4.12%	-13.28%
Max Drawdown (5Y) Largest decline over 5 years	-33.06%	-21.84%	-11.22%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.00%	—
Current Drawdown Current decline from peak	-5.23%	-15.63%	+10.40%
Average Drawdown Average peak-to-trough decline	-12.63%	-6.72%	-5.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	1.69%	+1.06%

Volatility

DPYE.L vs. SEGA.L - Volatility Comparison

iShares Developed Markets Property Yield UCITS ETF EUR Hedged (Acc) (DPYE.L) has a higher volatility of 3.19% compared to iShares Core Euro Government Bond UCITS ETF (Dist) (SEGA.L) at 1.19%. This indicates that DPYE.L's price experiences larger fluctuations and is considered to be riskier than SEGA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DPYE.L	SEGA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	1.19%	+2.00%
Volatility (6M) Calculated over the trailing 6-month period	9.00%	3.92%	+5.08%
Volatility (1Y) Calculated over the trailing 1-year period	11.18%	4.65%	+6.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	7.01%	+8.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.26%	6.55%	+10.71%

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

DPYE.L has a 0.64% expense ratio, which is higher than SEGA.L's 0.09% expense ratio.

Dividends

DPYE.L vs. SEGA.L - Dividend Comparison

DPYE.L has not paid dividends to shareholders, while SEGA.L's dividend yield for the trailing twelve months is around 1.22%.

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%
SEGA.L iShares Core Euro Government Bond UCITS ETF (Dist)	1.22%	2.25%	1.82%	0.97%	0.26%	0.25%	0.45%	0.68%	0.65%	0.69%	0.86%	0.60%

Frequently Asked Questions

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

DPYE.L and SEGA.L have a correlation of 0.38, 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 SEGA.L?

On fees, SEGA.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

SEGA.L is cheaper with a 0.09% expense ratio, compared with 0.64% for DPYE.L.

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

DPYE.L is categorized as REIT, while SEGA.L is European Government Bonds. DPYE.L tracks FTSE EPRA/NAREIT Developed Dividend+ (EUR Hedged), while SEGA.L tracks Bloomberg Euro Agg Govt TR EUR. Their fees differ too: 0.64% for DPYE.L and 0.09% for SEGA.L.