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HPRO.L vs. IDWP.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HPRO.L vs. IDWP.L

Last updated Jun 5, 2026

HPRO.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, HPRO.L returned 1.11%/yr vs 4.00%/yr for IDWP.L. Their correlation of 0.83 suggests significant overlap in exposure. HPRO.L charges 0.24%/yr vs 0.59%/yr for IDWP.L.

Performance

HPRO.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 (HPRO.L) and iShares Developed Markets Property Yield UCITS (IDWP.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, HPRO.L achieves a 5.06% return, which is significantly lower than IDWP.L's 6.94% return. Over the past 10 years, HPRO.L has underperformed IDWP.L with an annualized return of 1.11%, while IDWP.L has yielded a comparatively higher 4.00% annualized return.

HPRO.L

1D
0.03%
1M
-0.79%
YTD
5.06%
6M
5.16%
1Y
9.52%
3Y*
2.97%
5Y*
-0.95%
10Y*
1.11%

IDWP.L

1D
0.42%
1M
-0.80%
YTD
6.94%
6M
6.90%
1Y
11.42%
3Y*
5.69%
5Y*
1.76%
10Y*
4.00%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
HPRO.L
HSBC FTSE EPRA/NAREIT Developed UCITS ETF		5.06%0.35%-1.94%1.11%-18.31%24.70%-14.95%13.99%-3.06%-1.31%
IDWP.L
iShares Developed Markets Property Yield UCITS		6.94%1.42%1.93%3.91%-14.98%26.55%-12.19%16.61%0.17%1.58%

Correlation

The correlation between HPRO.L and IDWP.L is 0.85, 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

0.85

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

0.91

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

0.90

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

0.89

Correlation (All Time)
Calculated using the full available price history since Jun 24, 2011

0.83

The correlation between HPRO.L and IDWP.L has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.

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

Sectors
HPRO.L
IDWP.L

Real Estate

99.6%
100.0%

Technology

0.4%

-

Consumer Cyclical

0.0%
0.0%

Financial Services

0.0%
0.1%

Basic Materials

-

-

Communication Services

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Utilities

-

-

Real Estate

HPRO.L
99.6%
IDWP.L
100.0%

Technology

HPRO.L
0.4%
IDWP.L

-

Consumer Cyclical

HPRO.L
0.0%
IDWP.L
0.0%

Financial Services

HPRO.L
0.0%
IDWP.L
0.1%

Basic Materials

HPRO.L

-

IDWP.L

-

Communication Services

HPRO.L

-

IDWP.L

-

Consumer Defensive

HPRO.L

-

IDWP.L

-

Energy

HPRO.L

-

IDWP.L

-

Healthcare

HPRO.L

-

IDWP.L

-

Industrials

HPRO.L

-

IDWP.L

-

Utilities

HPRO.L

-

IDWP.L

-

Compare stocks, funds, or ETFs

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HSBC FTSE EPRA/NAREIT Developed UCITS ETF

iShares Developed Markets Property Yield UCITS

Often compared with HPRO.L:
HPRO.L vs. IWDP.LHPRO.L vs. TREG.LHPRO.L vs. UKRE.LHPRO.L vs. IUSP.LHPRO.L vs. BBOX.LHPRO.L vs. XDEQ.LHPRO.L vs. IWDP.AS
Often compared with IDWP.L:
IDWP.L vs. IPRP.LIDWP.L vs. GLRE.LIDWP.L vs. VNQIDWP.L vs. CSPX.LIDWP.L vs. SCHDIDWP.L vs. REETIDWP.L vs. IUSP.L

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HPRO.L
HPRO.L Risk / Return Rank: 2424
Overall Rank
HPRO.L Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
HPRO.L Sortino Ratio Rank: 2424
Sortino Ratio Rank
HPRO.L Omega Ratio Rank: 2424
Omega Ratio Rank
HPRO.L Calmar Ratio Rank: 2424
Calmar Ratio Rank
HPRO.L Martin Ratio Rank: 2525
Martin Ratio Rank
IDWP.L
IDWP.L Risk / Return Rank: 2525
Overall Rank
IDWP.L Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
IDWP.L Sortino Ratio Rank: 2525
Sortino Ratio Rank
IDWP.L Omega Ratio Rank: 2424
Omega Ratio Rank
IDWP.L Calmar Ratio Rank: 2424
Calmar Ratio Rank
IDWP.L Martin Ratio Rank: 2626
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.

HPRO.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 (HPRO.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.

HPRO.LIDWP.LDifference
Sharpe ratioReturn per unit of total volatility
0.87
0.94

-0.08

Sortino ratioReturn per unit of downside risk
1.29
1.39

-0.10

Omega ratioGain probability vs. loss probability

1.15

1.17

-0.02

Calmar ratioReturn relative to maximum drawdown

1.06

1.37

-0.32

Martin ratioReturn relative to average drawdown

3.34

4.21

-0.87

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

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

The current HPRO.L Sharpe Ratio is 0.87, which is comparable to the IDWP.L Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of HPRO.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.

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Sharpe Ratios by Period

HPRO.LIDWP.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.87

0.94

-0.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.07

0.12

-0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.07

0.24

-0.17

Sharpe Ratio (All Time)

Calculated using the full available price history

0.21

0.25

-0.05

Drawdowns

HPRO.L vs. IDWP.L - Drawdown Comparison

The maximum HPRO.L drawdown since its inception was -36.31%, smaller than the maximum IDWP.L drawdown of -56.36%. Use the drawdown chart below to compare losses from any high point for HPRO.L and IDWP.L.

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Drawdown Indicators

HPRO.LIDWP.LDifference

Max Drawdown

Largest peak-to-trough decline

-36.31%

-56.36%

+20.05%

Max Drawdown (1Y)

Largest decline over 1 year

-8.96%

-8.28%

-0.68%

Max Drawdown (3Y)

Largest decline over 3 years

-17.45%

-17.16%

-0.29%

Max Drawdown (5Y)

Largest decline over 5 years

-30.68%

-26.73%

-3.95%

Max Drawdown (10Y)

Largest decline over 10 years

-36.31%

-35.93%

-0.38%

Current Drawdown

Current decline from peak

-15.54%

-3.72%

-11.82%

Average Drawdown

Average peak-to-trough decline

-12.03%

-9.84%

-2.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.85%

2.71%

+0.14%

Volatility

HPRO.L vs. IDWP.L - Volatility Comparison

The current volatility for HSBC FTSE EPRA/NAREIT Developed UCITS ETF (HPRO.L) is 3.15%, while iShares Developed Markets Property Yield UCITS (IDWP.L) has a volatility of 3.40%. This indicates that HPRO.L experiences smaller price fluctuations and is considered to be less risky than IDWP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HPRO.LIDWP.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.15%

3.40%

-0.25%

Volatility (6M)

Calculated over the trailing 6-month period

8.69%

9.59%

-0.90%

Volatility (1Y)

Calculated over the trailing 1-year period

10.95%

12.04%

-1.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.06%

14.97%

-0.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.59%

16.56%

-0.97%

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

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

Dividends

HPRO.L vs. IDWP.L - Dividend Comparison

HPRO.L's dividend yield for the trailing twelve months is around 0.03%, less than IDWP.L's 3.02% yield.

PositionTTM20252024202320222021202020192018201720162015
HPRO.L
HSBC FTSE EPRA/NAREIT Developed UCITS ETF		0.03%0.03%0.03%0.03%0.03%0.02%0.03%0.03%0.03%0.03%0.03%0.03%
IDWP.L
iShares Developed Markets Property Yield UCITS		3.02%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

HPRO.L and IDWP.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

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

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