HPRD.L vs. IBTU.L
HPRD.L (HSBC FTSE EPRA NAREIT Developed UCITS ETF) and IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both exchange-traded funds - HPRD.L is a REIT fund tracking the FTSE EPRA Nareit Global TR USD, while IBTU.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, HPRD.L returned 1.18%/yr vs 3.38%/yr for IBTU.L. At a 0.02 correlation, their price movements are largely independent. HPRD.L charges 0.24%/yr vs 0.07%/yr for IBTU.L.
Performance
HPRD.L vs. IBTU.L - Performance Comparison
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Returns By Period
In the year-to-date period, HPRD.L achieves a 6.60% return, which is significantly higher than IBTU.L's 1.39% return.
HPRD.L
- 1D
- 0.13%
- 1M
- -1.76%
- YTD
- 6.60%
- 6M
- 7.06%
- 1Y
- 11.93%
- 3Y*
- 9.23%
- 5Y*
- 1.18%
- 10Y*
- 3.52%
IBTU.L
- 1D
- 0.01%
- 1M
- 0.30%
- YTD
- 1.39%
- 6M
- 1.78%
- 1Y
- 3.98%
- 3Y*
- 4.74%
- 5Y*
- 3.38%
- 10Y*
- —
HPRD.L vs. IBTU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HPRD.L HSBC FTSE EPRA NAREIT Developed UCITS ETF | 6.60% | 10.90% | -0.19% | 10.88% | -24.76% | 26.43% | -8.89% | 8.38% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 1.39% | 4.36% | 5.23% | 4.96% | 1.09% | -0.01% | 0.96% | 1.94% |
Correlation
The correlation between HPRD.L and IBTU.L is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2019 | 0.02 |
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Return for Risk
HPRD.L vs. IBTU.L — Risk / Return Rank
HPRD.L
IBTU.L
HPRD.L vs. IBTU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC FTSE EPRA NAREIT Developed UCITS ETF (HPRD.L) and iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.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.
| HPRD.L | IBTU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.13 | ||
| Sortino ratioReturn per unit of downside risk | -15.76 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 3.95 | -2.78 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 24.79 | -23.61 |
| Martin ratioReturn relative to average drawdown | 4.33 | 183.92 | -179.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HPRD.L | IBTU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.99 | 8.12 | -7.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | 6.79 | -6.72 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.21 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 5.05 | -4.74 |
Drawdowns
HPRD.L vs. IBTU.L - Drawdown Comparison
The maximum HPRD.L drawdown since its inception was -41.81%, which is greater than IBTU.L's maximum drawdown of -0.62%. Use the drawdown chart below to compare losses from any high point for HPRD.L and IBTU.L.
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Drawdown Indicators
| HPRD.L | IBTU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.81% | -0.62% | -41.19% |
Max Drawdown (1Y)Largest decline over 1 year | -10.12% | -0.16% | -9.96% |
Max Drawdown (3Y)Largest decline over 3 years | -18.25% | -0.16% | -18.09% |
Max Drawdown (5Y)Largest decline over 5 years | -33.48% | -0.29% | -33.19% |
Max Drawdown (10Y)Largest decline over 10 years | -41.81% | — | — |
Current DrawdownCurrent decline from peak | -3.76% | 0.00% | -3.76% |
Average DrawdownAverage peak-to-trough decline | -9.43% | -0.03% | -9.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 0.02% | +2.73% |
Volatility
HPRD.L vs. IBTU.L - Volatility Comparison
HSBC FTSE EPRA NAREIT Developed UCITS ETF (HPRD.L) has a higher volatility of 3.69% compared to iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) at 0.08%. This indicates that HPRD.L's price experiences larger fluctuations and is considered to be riskier than IBTU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HPRD.L | IBTU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.69% | 0.08% | +3.61% |
Volatility (6M)Calculated over the trailing 6-month period | 9.30% | 0.31% | +8.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.99% | 0.49% | +11.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.32% | 0.50% | +15.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.93% | 0.54% | +16.39% |
HPRD.L vs. IBTU.L - Expense Ratio Comparison
HPRD.L has a 0.24% expense ratio, which is higher than IBTU.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HPRD.L vs. IBTU.L - Dividend Comparison
HPRD.L's dividend yield for the trailing twelve months is around 3.06%, less than IBTU.L's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HPRD.L HSBC FTSE EPRA NAREIT Developed UCITS ETF | 3.06% | 3.17% | 3.39% | 3.35% | 3.53% | 2.30% | 2.88% | 2.96% | 3.43% | 2.89% | 3.13% | 2.72% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HPRD.L and IBTU.L have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTU.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTU.L is cheaper with a 0.07% expense ratio, compared with 0.24% for HPRD.L.
HPRD.L is categorized as REIT, while IBTU.L is Government Bonds. HPRD.L tracks FTSE EPRA Nareit Global TR USD, while IBTU.L tracks ICE U.S. Treasury Short Bond Index. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.24% for HPRD.L and 0.07% for IBTU.L.
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