HPRD.L vs. IDWP.L

Last updated Jun 5, 2026

HPRD.L (HSBC FTSE EPRA NAREIT Developed UCITS ETF) and IDWP.L (iShares Developed Markets Property Yield UCITS) are both REIT funds tracking the FTSE EPRA Nareit Global TR USD, from HSBC and iShares respectively. Both are passively managed. Over the past 10 years, HPRD.L returned 3.52%/yr vs 3.24%/yr for IDWP.L. Their correlation of 0.89 suggests significant overlap in exposure. HPRD.L charges 0.24%/yr vs 0.59%/yr for IDWP.L.

Performance

HPRD.L vs. IDWP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC FTSE EPRA NAREIT Developed UCITS ETF (HPRD.L) and iShares Developed Markets Property Yield UCITS (IDWP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with HPRD.L having a 6.60% return and IDWP.L slightly higher at 6.84%. Over the past 10 years, HPRD.L has outperformed IDWP.L with an annualized return of 3.52%, while IDWP.L has yielded a comparatively lower 3.24% annualized 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%

IDWP.L

• 1D: 0.28%
• 1M: -1.02%
• YTD: 6.84%
• 6M: 7.80%
• 1Y: 10.53%
• 3Y*: 8.57%
• 5Y*: 0.73%
• 10Y*: 3.24%

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

HPRD.L vs. IDWP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HPRD.L HSBC FTSE EPRA NAREIT Developed UCITS ETF	6.60%	10.90%	-0.19%	10.88%	-24.76%	26.43%	-8.89%	20.96%	-5.41%	11.57%
IDWP.L iShares Developed Markets Property Yield UCITS	6.84%	9.19%	0.18%	9.37%	-24.02%	25.37%	-9.53%	21.22%	-5.44%	11.19%

Correlation

The correlation between HPRD.L and IDWP.L is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 24, 2011	0.89

The correlation between HPRD.L and IDWP.L has been stable across timeframes, ranging from 0.89 to 0.98 - a consistent structural relationship.

HPRD.L vs. IDWP.L - Sectors Allocation Comparison

Sectors	HPRD.L	IDWP.L
Real Estate	98.3%	100.0%
Technology	0.3%	-
Consumer Cyclical	0.1%	0.0%
Financial Services	0.0%	0.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Utilities	-	-

Return for Risk

HPRD.L vs. IDWP.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HPRD.L

HPRD.L Risk / Return Rank: 28
HPRD.L Sharpe Ratio Rank: 28
HPRD.L Sortino Ratio Rank: 28
HPRD.L Omega Ratio Rank: 26
HPRD.L Calmar Ratio Rank: 25
HPRD.L Martin Ratio Rank: 30

IDWP.L

IDWP.L Risk / Return Rank: 25
IDWP.L Sharpe Ratio Rank: 25
IDWP.L Sortino Ratio Rank: 25
IDWP.L Omega Ratio Rank: 24
IDWP.L Calmar Ratio Rank: 24
IDWP.L Martin Ratio Rank: 27

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.

HPRD.L vs. IDWP.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 Developed Markets Property Yield UCITS (IDWP.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	IDWP.L	Difference
Sharpe ratio: Return per unit of total volatility	0.99	0.88	+0.12
Sortino ratio: Return per unit of downside risk	1.50	1.35	+0.15
Omega ratio: Gain probability vs. loss probability	1.18	1.16	+0.02
Calmar ratio: Return relative to maximum drawdown	1.17	1.07	+0.10
Martin ratio: Return relative to average drawdown	4.33	3.64	+0.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HPRD.L vs. IDWP.L - Sharpe Ratio Comparison

The current HPRD.L Sharpe Ratio is 0.99, which is comparable to the IDWP.L Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of HPRD.L and IDWP.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

	HPRD.L	IDWP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	0.88	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	0.05	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.19	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.15	+0.16

Drawdowns

HPRD.L vs. IDWP.L - Drawdown Comparison

The maximum HPRD.L drawdown since its inception was -41.81%, smaller than the maximum IDWP.L drawdown of -70.51%. Use the drawdown chart below to compare losses from any high point for HPRD.L and IDWP.L.

Drawdown Indicators

	HPRD.L	IDWP.L	Difference
Max Drawdown Largest peak-to-trough decline	-41.81%	-70.51%	+28.70%
Max Drawdown (1Y) Largest decline over 1 year	-10.12%	-9.78%	-0.34%
Max Drawdown (3Y) Largest decline over 3 years	-18.25%	-18.07%	-0.18%
Max Drawdown (5Y) Largest decline over 5 years	-33.48%	-33.95%	+0.47%
Max Drawdown (10Y) Largest decline over 10 years	-41.81%	-42.82%	+1.01%
Current Drawdown Current decline from peak	-3.76%	-3.98%	+0.22%
Average Drawdown Average peak-to-trough decline	-9.43%	-13.58%	+4.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	2.89%	-0.14%

Volatility

HPRD.L vs. IDWP.L - Volatility Comparison

HSBC FTSE EPRA NAREIT Developed UCITS ETF (HPRD.L) and iShares Developed Markets Property Yield UCITS (IDWP.L) have volatilities of 3.69% and 3.63%, 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.

Volatility by Period

	HPRD.L	IDWP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.69%	3.63%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	9.20%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	11.99%	11.98%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.32%	16.24%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.93%	17.23%	-0.30%

HPRD.L vs. IDWP.L - Expense Ratio Comparison

HPRD.L has a 0.24% expense ratio, which is lower than IDWP.L's 0.59% expense ratio.

Dividends

HPRD.L vs. IDWP.L - Dividend Comparison

HPRD.L's dividend yield for the trailing twelve months is around 3.06%, more than IDWP.L's 3.01% 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%
IDWP.L iShares Developed Markets Property Yield UCITS	3.01%	3.07%	3.22%	3.07%	3.66%	2.22%	2.91%	2.89%	3.94%	2.91%	3.27%	3.01%

Frequently Asked Questions

Can I hold both HPRD.L and IDWP.L in my portfolio?

With a correlation of 0.95, HPRD.L and IDWP.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, HPRD.L or IDWP.L?

On fees, HPRD.L is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HPRD.L or IDWP.L?

HPRD.L is cheaper with a 0.24% expense ratio, compared with 0.59% for IDWP.L.

What is the main difference between HPRD.L and IDWP.L?

Both ETFs track FTSE EPRA Nareit Global TR USD. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.24% for HPRD.L and 0.59% for IDWP.L.