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

IDWP.L vs. GBRE.L

Last updated Jun 5, 2026

IDWP.L (iShares Developed Markets Property Yield UCITS) and GBRE.L (SPDR® Dow Jones Global Real Estate UCITS ETF) are both REIT funds tracking the FTSE EPRA Nareit Global TR USD, from iShares and State Street respectively. Both are passively managed. Over the past 10 years, IDWP.L returned 3.24%/yr vs 3.05%/yr for GBRE.L. Their correlation of 0.89 suggests significant overlap in exposure. IDWP.L charges 0.59%/yr vs 0.40%/yr for GBRE.L.

Performance

IDWP.L vs. GBRE.L - Performance Comparison

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

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, IDWP.L achieves a 6.84% return, which is significantly higher than GBRE.L's 5.93% return. Over the past 10 years, IDWP.L has outperformed GBRE.L with an annualized return of 3.24%, while GBRE.L has yielded a comparatively lower 3.05% annualized return.

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%

GBRE.L

1D
0.34%
1M
-0.92%
YTD
5.93%
6M
5.72%
1Y
10.08%
3Y*
8.08%
5Y*
1.00%
10Y*
3.05%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
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%
GBRE.L
SPDR® Dow Jones Global Real Estate UCITS ETF		5.93%8.98%-0.73%10.80%-25.24%30.88%-11.18%21.48%-5.79%9.56%

Correlation

The correlation between IDWP.L and GBRE.L is 0.87, 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

0.87

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

0.90

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

0.91

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

0.90

Correlation (All Time)
Calculated using the full available price history since Dec 4, 2012

0.89

The correlation between IDWP.L and GBRE.L has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

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

Sectors
IDWP.L
GBRE.L

Real Estate

100.0%
99.9%

Financial Services

0.1%
0.0%

Consumer Cyclical

0.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

0.0%

Technology

-

-

Utilities

-

0.0%

Real Estate

IDWP.L
100.0%
GBRE.L
99.9%

Financial Services

IDWP.L
0.1%
GBRE.L
0.0%

Consumer Cyclical

IDWP.L
0.0%
GBRE.L

-

Basic Materials

IDWP.L

-

GBRE.L

-

Communication Services

IDWP.L

-

GBRE.L

-

Consumer Defensive

IDWP.L

-

GBRE.L

-

Energy

IDWP.L

-

GBRE.L

-

Healthcare

IDWP.L

-

GBRE.L

-

Industrials

IDWP.L

-

GBRE.L
0.0%

Technology

IDWP.L

-

GBRE.L

-

Utilities

IDWP.L

-

GBRE.L
0.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Developed Markets Property Yield UCITS

SPDR® Dow Jones Global Real Estate UCITS ETF

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
Often compared with GBRE.L:
GBRE.L vs. CMOP.LGBRE.L vs. BBOX.LGBRE.L vs. IUSP.LGBRE.L vs. VTIGBRE.L vs. VGTGBRE.L vs. QQQGBRE.L vs. VOO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
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: 2727
Martin Ratio Rank
GBRE.L
GBRE.L Risk / Return Rank: 2828
Overall Rank
GBRE.L Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
GBRE.L Sortino Ratio Rank: 2727
Sortino Ratio Rank
GBRE.L Omega Ratio Rank: 2626
Omega Ratio Rank
GBRE.L Calmar Ratio Rank: 2727
Calmar Ratio Rank
GBRE.L Martin Ratio Rank: 3030
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.

IDWP.L vs. GBRE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Developed Markets Property Yield UCITS (IDWP.L) and SPDR® Dow Jones Global Real Estate UCITS ETF (GBRE.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.

IDWP.LGBRE.LDifference
Sharpe ratioReturn per unit of total volatility
0.88
0.85

+0.03

Sortino ratioReturn per unit of downside risk
1.35
1.28

+0.07

Omega ratioGain probability vs. loss probability

1.16

1.15

+0.01

Calmar ratioReturn relative to maximum drawdown

1.07

0.98

+0.09

Martin ratioReturn relative to average drawdown

3.64

3.70

-0.06

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

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

The current IDWP.L Sharpe Ratio is 0.88, which is comparable to the GBRE.L Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of IDWP.L and GBRE.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

IDWP.LGBRE.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.88

0.85

+0.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.05

0.06

-0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.19

0.17

+0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.15

0.26

-0.11

Drawdowns

IDWP.L vs. GBRE.L - Drawdown Comparison

The maximum IDWP.L drawdown since its inception was -70.51%, which is greater than GBRE.L's maximum drawdown of -41.94%. Use the drawdown chart below to compare losses from any high point for IDWP.L and GBRE.L.

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Drawdown Indicators

IDWP.LGBRE.LDifference

Max Drawdown

Largest peak-to-trough decline

-70.51%

-41.94%

-28.57%

Max Drawdown (1Y)

Largest decline over 1 year

-9.78%

-10.23%

+0.45%

Max Drawdown (3Y)

Largest decline over 3 years

-18.07%

-18.00%

-0.07%

Max Drawdown (5Y)

Largest decline over 5 years

-33.95%

-33.67%

-0.28%

Max Drawdown (10Y)

Largest decline over 10 years

-42.82%

-41.94%

-0.88%

Current Drawdown

Current decline from peak

-3.98%

-5.21%

+1.23%

Average Drawdown

Average peak-to-trough decline

-13.58%

-10.08%

-3.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.89%

2.72%

+0.17%

Volatility

IDWP.L vs. GBRE.L - Volatility Comparison

iShares Developed Markets Property Yield UCITS (IDWP.L) and SPDR® Dow Jones Global Real Estate UCITS ETF (GBRE.L) have volatilities of 3.63% and 3.80%, 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.

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Volatility by Period

IDWP.LGBRE.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.63%

3.80%

-0.17%

Volatility (6M)

Calculated over the trailing 6-month period

9.20%

8.94%

+0.26%

Volatility (1Y)

Calculated over the trailing 1-year period

11.98%

11.81%

+0.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.24%

16.43%

-0.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.23%

17.44%

-0.21%

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

IDWP.L has a 0.59% expense ratio, which is higher than GBRE.L's 0.40% expense ratio.

Dividends

IDWP.L vs. GBRE.L - Dividend Comparison

IDWP.L's dividend yield for the trailing twelve months is around 3.01%, more than GBRE.L's 0.75% yield.

PositionTTM20252024202320222021202020192018201720162015
GBRE.L
SPDR® Dow Jones Global Real Estate UCITS ETF		0.75%1.45%2.73%2.66%2.84%1.79%2.76%3.25%4.30%3.99%2.40%2.09%
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

IDWP.L and GBRE.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, GBRE.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

GBRE.L is cheaper with a 0.40% expense ratio, compared with 0.59% for IDWP.L.

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

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