IPRE.DE vs. H4ZL.DE
IPRE.DE (iShares European Property Yield UCITS ETF EUR (Acc)) and H4ZL.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD) are both REIT funds - IPRE.DE tracks the FTSE EPRA Nareit Developed Europe ex UK Dividend+ Index while H4ZL.DE tracks the FTSE EPRA/NAREIT Developed. Both are passively managed. Over the past 3 years, IPRE.DE returned 11.38%/yr vs 8.00%/yr for H4ZL.DE. A 0.60 correlation means they provide meaningful diversification when combined. IPRE.DE charges 0.40%/yr vs 0.24%/yr for H4ZL.DE.
Performance
IPRE.DE vs. H4ZL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IPRE.DE achieves a 3.98% return, which is significantly lower than H4ZL.DE's 14.02% return.
IPRE.DE
- 1D
- 0.20%
- 1M
- 4.20%
- 6M
- 4.86%
- YTD
- 3.98%
- 1Y
- 1.43%
- 3Y*
- 11.38%
- 5Y*
- -3.70%
- 10Y*
- —
H4ZL.DE
- 1D
- 0.51%
- 1M
- 5.66%
- 6M
- 14.74%
- YTD
- 14.02%
- 1Y
- 17.26%
- 3Y*
- 8.00%
- 5Y*
- —
- 10Y*
- —
IPRE.DE vs. H4ZL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IPRE.DE iShares European Property Yield UCITS ETF EUR (Acc) | 3.98% | 8.66% | -0.90% | 18.13% |
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 14.02% | -1.48% | 5.75% | 6.44% |
Correlation
The correlation between IPRE.DE and H4ZL.DE is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2023 | 0.60 |
The correlation between IPRE.DE and H4ZL.DE has been stable across timeframes, ranging from 0.58 to 0.60 - a consistent structural relationship.
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Return for Risk
IPRE.DE vs. H4ZL.DE — Risk / Return Rank
IPRE.DE
H4ZL.DE
IPRE.DE vs. H4ZL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares European Property Yield UCITS ETF EUR (Acc) (IPRE.DE) and HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IPRE.DE | H4ZL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.46 | ||
| Sortino ratioReturn per unit of downside risk | -1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.27 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | 2.20 | -2.11 |
| Martin ratioReturn relative to average drawdown | 0.23 | 7.68 | -7.46 |
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Drawdowns
IPRE.DE vs. H4ZL.DE - Drawdown Comparison
The maximum IPRE.DE drawdown since its inception was -50.15%, which is greater than H4ZL.DE's maximum drawdown of -20.11%. Use the drawdown chart below to compare losses from any high point for IPRE.DE and H4ZL.DE.
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Drawdown Indicators
| IPRE.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.15% | -20.11% | -30.04% |
Max Drawdown (1Y)Largest decline over 1 year | -15.03% | -7.84% | -7.19% |
Max Drawdown (3Y)Largest decline over 3 years | -17.41% | -20.11% | +2.70% |
Max Drawdown (5Y)Largest decline over 5 years | -49.30% | — | — |
Current DrawdownCurrent decline from peak | -24.16% | -0.23% | -23.93% |
Average DrawdownAverage peak-to-trough decline | -23.68% | -6.54% | -17.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.23% | 2.25% | +3.98% |
Volatility
IPRE.DE vs. H4ZL.DE - Volatility Comparison
iShares European Property Yield UCITS ETF EUR (Acc) (IPRE.DE) has a higher volatility of 3.88% compared to HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) at 3.45%. This indicates that IPRE.DE's price experiences larger fluctuations and is considered to be riskier than H4ZL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPRE.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.88% | 3.45% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 13.32% | 8.76% | +4.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.30% | 11.15% | +4.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.58% | 13.98% | +7.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.21% | 13.98% | +7.23% |
IPRE.DE vs. H4ZL.DE - Expense Ratio Comparison
IPRE.DE has a 0.40% expense ratio, which is higher than H4ZL.DE's 0.24% expense ratio.
Dividends
IPRE.DE vs. H4ZL.DE - Dividend Comparison
IPRE.DE has not paid dividends to shareholders, while H4ZL.DE's dividend yield for the trailing twelve months is around 2.87%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 2.87% | 3.31% | 3.28% | 3.42% |
IPRE.DE iShares European Property Yield UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IPRE.DE and H4ZL.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZL.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZL.DE is cheaper with a 0.24% expense ratio, compared with 0.40% for IPRE.DE.
IPRE.DE tracks FTSE EPRA Nareit Developed Europe ex UK Dividend+ Index, while H4ZL.DE tracks FTSE EPRA/NAREIT Developed. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.40% for IPRE.DE and 0.24% for H4ZL.DE.
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