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GLRE.L vs. IUKP.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GLRE.L vs. IUKP.L

Last updated Jun 5, 2026

GLRE.L (SPDR Dow Jones Global Real Estate UCITS ETF) and IUKP.L (iShares UK Property UCITS ETF) are both REIT funds - GLRE.L tracks the FTSE EPRA Nareit Global TR USD while IUKP.L tracks the FTSE EPRA/NAREIT United Kingdom. Both are passively managed. Over the past 10 years, GLRE.L returned 3.13%/yr vs -4.90%/yr for IUKP.L. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.40% expense ratio.

Performance

GLRE.L vs. IUKP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Dow Jones Global Real Estate UCITS ETF (GLRE.L) and iShares UK Property UCITS ETF (IUKP.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

GLRE.L is traded in USD, while IUKP.L is traded in GBp. To make them comparable, the IUKP.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, GLRE.L achieves a 6.61% return, which is significantly higher than IUKP.L's -3.99% return. Over the past 10 years, GLRE.L has outperformed IUKP.L with an annualized return of 3.13%, while IUKP.L has yielded a comparatively lower -4.90% annualized return.

GLRE.L

1D
0.19%
1M
-1.25%
YTD
6.61%
6M
6.73%
1Y
12.07%
3Y*
8.79%
5Y*
1.34%
10Y*
3.13%

IUKP.L

1D
1.01%
1M
0.76%
YTD
-3.99%
6M
-1.93%
1Y
-5.39%
3Y*
-1.00%
5Y*
-8.58%
10Y*
-4.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GLRE.L vs. IUKP.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GLRE.L
SPDR Dow Jones Global Real Estate UCITS ETF		6.61%9.96%-0.53%11.24%-25.26%30.62%-10.88%20.54%-6.34%9.87%
IUKP.L
iShares UK Property UCITS ETF		-3.99%12.71%-16.94%11.81%-40.87%24.42%-15.96%30.40%-20.88%18.88%

Correlation

The correlation between GLRE.L and IUKP.L is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.65

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

0.64

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

0.67

Correlation (10Y)
Calculated over the trailing 10-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Nov 5, 2012

0.61

The correlation between GLRE.L and IUKP.L has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.

GLRE.L vs. IUKP.L - Sectors Allocation Comparison

Sectors
GLRE.L
IUKP.L

Real Estate

99.9%
99.3%

Industrials

0.0%

-

Financial Services

0.0%

-

Utilities

0.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

0.7%

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Technology

-

-

Real Estate

GLRE.L
99.9%
IUKP.L
99.3%

Industrials

GLRE.L
0.0%
IUKP.L

-

Financial Services

GLRE.L
0.0%
IUKP.L

-

Utilities

GLRE.L
0.0%
IUKP.L

-

Basic Materials

GLRE.L

-

IUKP.L

-

Communication Services

GLRE.L

-

IUKP.L

-

Consumer Cyclical

GLRE.L

-

IUKP.L
0.7%

Consumer Defensive

GLRE.L

-

IUKP.L

-

Energy

GLRE.L

-

IUKP.L

-

Healthcare

GLRE.L

-

IUKP.L

-

Technology

GLRE.L

-

IUKP.L

-

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

iShares UK Property UCITS ETF

Often compared with GLRE.L:
GLRE.L vs. TRET.ASGLRE.L vs. IGSU.LGLRE.L vs. IUSP.LGLRE.L vs. IDWP.LGLRE.L vs. VNQGLRE.L vs. REETGLRE.L vs. IPRP.L
Often compared with IUKP.L:
IUKP.L vs. UKRE.LIUKP.L vs. USRTIUKP.L vs. LMP.LIUKP.L vs. IUSP.LIUKP.L vs. VUSA.LIUKP.L vs. QQQIUKP.L vs. REET

Return for Risk

GLRE.L vs. IUKP.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GLRE.L
GLRE.L Risk / Return Rank: 2828
Overall Rank
GLRE.L Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
GLRE.L Sortino Ratio Rank: 2727
Sortino Ratio Rank
GLRE.L Omega Ratio Rank: 2626
Omega Ratio Rank
GLRE.L Calmar Ratio Rank: 2727
Calmar Ratio Rank
GLRE.L Martin Ratio Rank: 3333
Martin Ratio Rank
IUKP.L
IUKP.L Risk / Return Rank: 77
Overall Rank
IUKP.L Sharpe Ratio Rank: 77
Sharpe Ratio Rank
IUKP.L Sortino Ratio Rank: 77
Sortino Ratio Rank
IUKP.L Omega Ratio Rank: 77
Omega Ratio Rank
IUKP.L Calmar Ratio Rank: 77
Calmar Ratio Rank
IUKP.L Martin Ratio Rank: 77
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.

GLRE.L vs. IUKP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones Global Real Estate UCITS ETF (GLRE.L) and iShares UK Property UCITS ETF (IUKP.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.

GLRE.LIUKP.LDifference
Sharpe ratioReturn per unit of total volatility
0.98
-0.25

+1.23

Sortino ratioReturn per unit of downside risk
1.48
-0.22

+1.70

Omega ratioGain probability vs. loss probability

1.17

0.97

+0.19

Calmar ratioReturn relative to maximum drawdown

1.29

-0.27

+1.57

Martin ratioReturn relative to average drawdown

4.80

-0.58

+5.39

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

GLRE.L vs. IUKP.L - Sharpe Ratio Comparison

The current GLRE.L Sharpe Ratio is 0.98, which is higher than the IUKP.L Sharpe Ratio of -0.25. The chart below compares the historical Sharpe Ratios of GLRE.L and IUKP.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

GLRE.LIUKP.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.98

-0.25

+1.23

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.08

-0.35

+0.43

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.18

-0.20

+0.37

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

-0.21

+0.47

Drawdowns

GLRE.L vs. IUKP.L - Drawdown Comparison

The maximum GLRE.L drawdown since its inception was -43.26%, smaller than the maximum IUKP.L drawdown of -84.89%. Use the drawdown chart below to compare losses from any high point for GLRE.L and IUKP.L.

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Drawdown Indicators

GLRE.LIUKP.LDifference

Max Drawdown

Largest peak-to-trough decline

-43.26%

-84.89%

+41.63%

Max Drawdown (1Y)

Largest decline over 1 year

-9.30%

-19.57%

+10.27%

Max Drawdown (3Y)

Largest decline over 3 years

-18.30%

-27.44%

+9.14%

Max Drawdown (5Y)

Largest decline over 5 years

-33.83%

-52.63%

+18.80%

Max Drawdown (10Y)

Largest decline over 10 years

-43.26%

-54.21%

+10.95%

Current Drawdown

Current decline from peak

-3.54%

-70.11%

+66.57%

Average Drawdown

Average peak-to-trough decline

-10.11%

-59.37%

+49.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.51%

9.21%

-6.70%

Volatility

GLRE.L vs. IUKP.L - Volatility Comparison

The current volatility for SPDR Dow Jones Global Real Estate UCITS ETF (GLRE.L) is 3.84%, while iShares UK Property UCITS ETF (IUKP.L) has a volatility of 7.66%. This indicates that GLRE.L experiences smaller price fluctuations and is considered to be less risky than IUKP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GLRE.LIUKP.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.84%

7.66%

-3.82%

Volatility (6M)

Calculated over the trailing 6-month period

9.29%

16.68%

-7.39%

Volatility (1Y)

Calculated over the trailing 1-year period

12.30%

21.12%

-8.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.86%

24.74%

-7.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.67%

25.07%

-7.40%

GLRE.L vs. IUKP.L - Expense Ratio Comparison

Both GLRE.L and IUKP.L have an expense ratio of 0.40%.

Dividends

GLRE.L vs. IUKP.L - Dividend Comparison

GLRE.L's dividend yield for the trailing twelve months is around 2.58%, more than IUKP.L's 0.04% yield.

PositionTTM20252024202320222021202020192018201720162015
GLRE.L
SPDR Dow Jones Global Real Estate UCITS ETF		2.58%2.72%2.79%2.62%2.85%1.82%2.51%3.16%3.54%3.86%2.66%2.15%
IUKP.L
iShares UK Property UCITS ETF		0.04%0.04%0.05%0.04%0.04%0.02%0.02%0.03%0.04%0.03%0.03%0.02%

Frequently Asked Questions

GLRE.L and IUKP.L have a correlation of 0.65, 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.

GLRE.L and IUKP.L have the same expense ratio: 0.40% per year.

GLRE.L tracks FTSE EPRA Nareit Global TR USD, while IUKP.L tracks FTSE EPRA/NAREIT United Kingdom. They also come from different issuers: State Street and iShares.

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