GLRE.L vs. IWDP.L

Last updated Jun 5, 2026

GLRE.L (SPDR Dow Jones Global Real Estate UCITS ETF) and IWDP.L (iShares Developed Markets Property Yield UCITS ETF USD (Dist) GBP) are both REIT funds tracking the FTSE EPRA Nareit Global TR USD, from State Street and iShares respectively. Both are passively managed. Over the past 10 years, GLRE.L returned 3.13%/yr vs 3.23%/yr for IWDP.L. Their correlation of 0.89 suggests significant overlap in exposure. GLRE.L charges 0.40%/yr vs 0.59%/yr for IWDP.L.

Performance

GLRE.L vs. IWDP.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 Developed Markets Property Yield UCITS ETF USD (Dist) GBP (IWDP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both stocks are quite close, with GLRE.L having a 6.61% return and IWDP.L slightly lower at 6.60%. Both investments have delivered pretty close results over the past 10 years, with GLRE.L having a 3.13% annualized return and IWDP.L not far ahead at 3.23%.

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%

IWDP.L

• 1D: 0.29%
• 1M: -1.04%
• YTD: 6.60%
• 6M: 7.85%
• 1Y: 10.45%
• 3Y*: 8.47%
• 5Y*: 0.69%
• 10Y*: 3.23%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
IWDP.L iShares Developed Markets Property Yield UCITS ETF USD (Dist) GBP	6.60%	9.39%	-0.46%	9.48%	-24.03%	25.78%	-9.82%	22.02%	-5.75%	11.01%

Correlation

The correlation between GLRE.L and IWDP.L is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Nov 5, 2012	0.89

The correlation between GLRE.L and IWDP.L has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

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

Sectors	GLRE.L	IWDP.L
Real Estate	99.9%	100.0%
Industrials	0.0%	-
Financial Services	0.0%	0.1%
Utilities	0.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	0.0%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Technology	-	-

Return for Risk

GLRE.L vs. IWDP.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: 28
GLRE.L Sharpe Ratio Rank: 28
GLRE.L Sortino Ratio Rank: 27
GLRE.L Omega Ratio Rank: 26
GLRE.L Calmar Ratio Rank: 27
GLRE.L Martin Ratio Rank: 33

IWDP.L

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

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. IWDP.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 Developed Markets Property Yield UCITS ETF USD (Dist) GBP (IWDP.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.L	IWDP.L	Difference
Sharpe ratio: Return per unit of total volatility	0.98	0.90	+0.08
Sortino ratio: Return per unit of downside risk	1.48	1.37	+0.11
Omega ratio: Gain probability vs. loss probability	1.17	1.15	+0.01
Calmar ratio: Return relative to maximum drawdown	1.29	1.02	+0.27
Martin ratio: Return relative to average drawdown	4.80	3.48	+1.32
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. IWDP.L - Sharpe Ratio Comparison

The current GLRE.L Sharpe Ratio is 0.98, which is comparable to the IWDP.L Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of GLRE.L and IWDP.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

	GLRE.L	IWDP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	0.90	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	0.04	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	0.19	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.14	+0.12

Drawdowns

GLRE.L vs. IWDP.L - Drawdown Comparison

The maximum GLRE.L drawdown since its inception was -43.26%, smaller than the maximum IWDP.L drawdown of -69.98%. Use the drawdown chart below to compare losses from any high point for GLRE.L and IWDP.L.

Drawdown Indicators

	GLRE.L	IWDP.L	Difference
Max Drawdown Largest peak-to-trough decline	-43.26%	-69.98%	+26.72%
Max Drawdown (1Y) Largest decline over 1 year	-9.30%	-10.16%	+0.86%
Max Drawdown (3Y) Largest decline over 3 years	-18.30%	-17.59%	-0.71%
Max Drawdown (5Y) Largest decline over 5 years	-33.83%	-33.61%	-0.22%
Max Drawdown (10Y) Largest decline over 10 years	-43.26%	-42.51%	-0.75%
Current Drawdown Current decline from peak	-3.54%	-4.01%	+0.47%
Average Drawdown Average peak-to-trough decline	-10.11%	-14.68%	+4.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	2.99%	-0.48%

Volatility

GLRE.L vs. IWDP.L - Volatility Comparison

SPDR Dow Jones Global Real Estate UCITS ETF (GLRE.L) has a higher volatility of 3.84% compared to iShares Developed Markets Property Yield UCITS ETF USD (Dist) GBP (IWDP.L) at 3.53%. This indicates that GLRE.L's price experiences larger fluctuations and is considered to be riskier than IWDP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLRE.L	IWDP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.84%	3.53%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	9.29%	8.76%	+0.53%
Volatility (1Y) Calculated over the trailing 1-year period	12.30%	11.56%	+0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.86%	15.91%	+0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	17.01%	+0.66%

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

GLRE.L has a 0.40% expense ratio, which is lower than IWDP.L's 0.59% expense ratio.

Dividends

GLRE.L vs. IWDP.L - Dividend Comparison

GLRE.L's dividend yield for the trailing twelve months is around 2.58%, less than IWDP.L's 3.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
IWDP.L iShares Developed Markets Property Yield UCITS ETF USD (Dist) GBP	3.03%	3.13%	3.17%	3.14%	3.56%	2.17%	3.11%	3.03%	3.82%	3.05%	2.96%	2.93%

Frequently Asked Questions

Can I hold both GLRE.L and IWDP.L in my portfolio?

GLRE.L and IWDP.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GLRE.L or IWDP.L?

On fees, GLRE.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, GLRE.L or IWDP.L?

GLRE.L is cheaper with a 0.40% expense ratio, compared with 0.59% for IWDP.L.

What is the main difference between GLRE.L and IWDP.L?

Both ETFs track FTSE EPRA Nareit Global TR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for GLRE.L and 0.59% for IWDP.L.