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GBRE.L vs. IMID.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GBRE.L vs. IMID.L

Last updated Jun 5, 2026

GBRE.L (SPDR® Dow Jones Global Real Estate UCITS ETF) and IMID.L (SPDR MSCI ACWI IMI) are both exchange-traded funds - GBRE.L is a REIT fund tracking the FTSE EPRA Nareit Global TR USD, while IMID.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, GBRE.L returned 2.07%/yr vs 12.17%/yr for IMID.L. A 0.54 correlation means they provide meaningful diversification when combined. Both charge a 0.40% expense ratio.

Performance

GBRE.L vs. IMID.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR® Dow Jones Global Real Estate UCITS ETF (GBRE.L) and SPDR MSCI ACWI IMI (IMID.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

GBRE.L is traded in GBP, while IMID.L is traded in USD. To make them comparable, the IMID.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, GBRE.L achieves a 6.19% return, which is significantly lower than IMID.L's 12.77% return.

GBRE.L

1D
0.29%
1M
-1.75%
YTD
6.19%
6M
5.11%
1Y
11.03%
3Y*
5.36%
5Y*
2.07%
10Y*
3.81%

IMID.L

1D
0.01%
1M
4.03%
YTD
12.77%
6M
12.63%
1Y
31.06%
3Y*
17.78%
5Y*
12.17%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

GBRE.L vs. IMID.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
GBRE.L
SPDR® Dow Jones Global Real Estate UCITS ETF		6.19%1.33%0.96%5.25%-16.29%32.07%-13.82%16.79%1.17%
IMID.L
SPDR MSCI ACWI IMI		12.77%13.45%18.35%15.57%-7.85%18.96%12.72%20.58%-6.36%

Correlation

The correlation between GBRE.L and IMID.L is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.36

Correlation (3Y)
Calculated over the trailing 3-year period

0.46

Correlation (5Y)
Calculated over the trailing 5-year period

0.53

Correlation (All Time)
Calculated using the full available price history since May 30, 2018

0.54

The correlation between GBRE.L and IMID.L shifts across timeframes, from 0.36 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

GBRE.L vs. IMID.L - Sectors Allocation Comparison

Sectors
GBRE.L
IMID.L

Real Estate

99.9%
8.0%

Industrials

0.0%
19.5%

Financial Services

0.0%
13.0%

Utilities

0.0%
3.3%

Basic Materials

-

8.2%

Communication Services

-

3.1%

Consumer Cyclical

-

9.7%

Consumer Defensive

-

9.7%

Energy

-

1.6%

Healthcare

-

9.6%

Technology

-

9.6%

Real Estate

GBRE.L
99.9%
IMID.L
8.0%

Industrials

GBRE.L
0.0%
IMID.L
19.5%

Financial Services

GBRE.L
0.0%
IMID.L
13.0%

Utilities

GBRE.L
0.0%
IMID.L
3.3%

Basic Materials

GBRE.L

-

IMID.L
8.2%

Communication Services

GBRE.L

-

IMID.L
3.1%

Consumer Cyclical

GBRE.L

-

IMID.L
9.7%

Consumer Defensive

GBRE.L

-

IMID.L
9.7%

Energy

GBRE.L

-

IMID.L
1.6%

Healthcare

GBRE.L

-

IMID.L
9.6%

Technology

GBRE.L

-

IMID.L
9.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR® Dow Jones Global Real Estate UCITS ETF

SPDR MSCI ACWI IMI

Often compared with GBRE.L:
GBRE.L vs. BBOX.LGBRE.L vs. CMOP.LGBRE.L vs. IUSP.LGBRE.L vs. VTIGBRE.L vs. VGTGBRE.L vs. QQQGBRE.L vs. VOO
Often compared with IMID.L:
IMID.L vs. ACWIIMID.L vs. VTIMID.L vs. ACWI.LIMID.L vs. SWLD.LIMID.L vs. SWRD.LIMID.L vs. IWDA.LIMID.L vs. FGQD.L

Return for Risk

GBRE.L vs. IMID.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GBRE.L
GBRE.L Risk / Return Rank: 2828
Overall Rank
GBRE.L Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
GBRE.L Sortino Ratio Rank: 2727
Sortino Ratio Rank
GBRE.L Omega Ratio Rank: 2626
Omega Ratio Rank
GBRE.L Calmar Ratio Rank: 2727
Calmar Ratio Rank
GBRE.L Martin Ratio Rank: 3030
Martin Ratio Rank
IMID.L
IMID.L Risk / Return Rank: 7575
Overall Rank
IMID.L Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
IMID.L Sortino Ratio Rank: 8080
Sortino Ratio Rank
IMID.L Omega Ratio Rank: 7575
Omega Ratio Rank
IMID.L Calmar Ratio Rank: 7070
Calmar Ratio Rank
IMID.L Martin Ratio Rank: 7575
Martin Ratio Rank
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.

GBRE.L vs. IMID.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR® Dow Jones Global Real Estate UCITS ETF (GBRE.L) and SPDR MSCI ACWI IMI (IMID.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.

GBRE.LIMID.LDifference
Sharpe ratioReturn per unit of total volatility
0.98
2.58

-1.59

Sortino ratioReturn per unit of downside risk
1.43
3.55

-2.12

Omega ratioGain probability vs. loss probability

1.17

1.49

-0.31

Calmar ratioReturn relative to maximum drawdown

1.28

4.53

-3.25

Martin ratioReturn relative to average drawdown

4.35

17.16

-12.81

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GBRE.L vs. IMID.L - Sharpe Ratio Comparison

The current GBRE.L Sharpe Ratio is 0.98, which is lower than the IMID.L Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of GBRE.L and IMID.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.

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Sharpe Ratios by Period

GBRE.LIMID.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.98

2.58

-1.59

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.14

0.85

-0.71

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.24

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.37

0.57

-0.21

Drawdowns

GBRE.L vs. IMID.L - Drawdown Comparison

The maximum GBRE.L drawdown since its inception was -35.15%, smaller than the maximum IMID.L drawdown of -37.84%. Use the drawdown chart below to compare losses from any high point for GBRE.L and IMID.L.

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Drawdown Indicators

GBRE.LIMID.LDifference

Max Drawdown

Largest peak-to-trough decline

-35.15%

-37.84%

+2.69%

Max Drawdown (1Y)

Largest decline over 1 year

-8.68%

-6.85%

-1.83%

Max Drawdown (3Y)

Largest decline over 3 years

-17.12%

-18.69%

+1.57%

Max Drawdown (5Y)

Largest decline over 5 years

-27.39%

-18.69%

-8.70%

Max Drawdown (10Y)

Largest decline over 10 years

-35.15%

—

—

Current Drawdown

Current decline from peak

-5.92%

-0.32%

-5.60%

Average Drawdown

Average peak-to-trough decline

-9.97%

-3.69%

-6.28%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.56%

1.82%

+0.74%

Volatility

GBRE.L vs. IMID.L - Volatility Comparison

SPDR® Dow Jones Global Real Estate UCITS ETF (GBRE.L) and SPDR MSCI ACWI IMI (IMID.L) have volatilities of 3.39% and 3.55%, 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.

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Volatility by Period

GBRE.LIMID.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.39%

3.55%

-0.16%

Volatility (6M)

Calculated over the trailing 6-month period

8.79%

9.34%

-0.55%

Volatility (1Y)

Calculated over the trailing 1-year period

11.29%

12.05%

-0.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.37%

14.26%

+0.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.98%

20.46%

-4.48%

GBRE.L vs. IMID.L - Expense Ratio Comparison

Both GBRE.L and IMID.L have an expense ratio of 0.40%.

Dividends

GBRE.L vs. IMID.L - Dividend Comparison

GBRE.L's dividend yield for the trailing twelve months is around 0.75%, while IMID.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
GBRE.L
SPDR® Dow Jones Global Real Estate UCITS ETF		0.75%1.45%2.73%2.66%2.84%1.79%2.76%3.25%4.30%3.99%2.40%2.09%
IMID.L
SPDR MSCI ACWI IMI		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

GBRE.L and IMID.L have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.40% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

GBRE.L and IMID.L have the same expense ratio: 0.40% per year.

GBRE.L is categorized as REIT, while IMID.L is Global Equities. GBRE.L tracks FTSE EPRA Nareit Global TR USD, while IMID.L tracks MSCI ACWI NR USD.

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