IPRE.DE vs. SPY2.DE
IPRE.DE (iShares European Property Yield UCITS ETF EUR (Acc)) and SPY2.DE (SPDR Dow Jones Global Real Estate UCITS ETF Accumulating) are both REIT funds - IPRE.DE tracks the FTSE EPRA Nareit Developed Europe ex UK Dividend+ Index while SPY2.DE tracks the Dow Jones Global Select Real Estate Securities. Both are passively managed. Over the past 5 years, IPRE.DE returned -3.70%/yr vs 3.06%/yr for SPY2.DE. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.40% expense ratio.
Performance
IPRE.DE vs. SPY2.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 SPY2.DE's 15.55% 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*
- —
SPY2.DE
- 1D
- 0.39%
- 1M
- 6.74%
- 6M
- 16.27%
- YTD
- 15.55%
- 1Y
- 19.79%
- 3Y*
- 7.93%
- 5Y*
- 3.06%
- 10Y*
- —
IPRE.DE vs. SPY2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IPRE.DE iShares European Property Yield UCITS ETF EUR (Acc) | 3.98% | 8.66% | -0.90% | 18.13% | -37.40% | 8.12% | -8.88% | 4.65% |
SPY2.DE SPDR Dow Jones Global Real Estate UCITS ETF Accumulating | 15.55% | -2.41% | 5.13% | 7.63% | -20.97% | 41.64% | -18.77% | -11.30% |
Correlation
The correlation between IPRE.DE and SPY2.DE is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2019 | 0.61 |
The correlation between IPRE.DE and SPY2.DE has been stable across timeframes, ranging from 0.54 to 0.61 - a consistent structural relationship.
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Return for Risk
IPRE.DE vs. SPY2.DE — Risk / Return Rank
IPRE.DE
SPY2.DE
IPRE.DE vs. SPY2.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 SPDR Dow Jones Global Real Estate UCITS ETF Accumulating (SPY2.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 | SPY2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -2.21 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.31 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | 2.89 | -2.79 |
| Martin ratioReturn relative to average drawdown | 0.23 | 9.66 | -9.44 |
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Drawdowns
IPRE.DE vs. SPY2.DE - Drawdown Comparison
The maximum IPRE.DE drawdown since its inception was -50.15%, which is greater than SPY2.DE's maximum drawdown of -45.15%. Use the drawdown chart below to compare losses from any high point for IPRE.DE and SPY2.DE.
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Drawdown Indicators
| IPRE.DE | SPY2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.15% | -45.15% | -5.00% |
Max Drawdown (1Y)Largest decline over 1 year | -15.03% | -6.82% | -8.21% |
Max Drawdown (3Y)Largest decline over 3 years | -17.41% | -20.16% | +2.75% |
Max Drawdown (5Y)Largest decline over 5 years | -49.30% | -30.75% | -18.55% |
Current DrawdownCurrent decline from peak | -24.16% | -1.58% | -22.58% |
Average DrawdownAverage peak-to-trough decline | -23.68% | -16.70% | -6.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.23% | 2.04% | +4.19% |
Volatility
IPRE.DE vs. SPY2.DE - Volatility Comparison
iShares European Property Yield UCITS ETF EUR (Acc) (IPRE.DE) has a higher volatility of 3.88% compared to SPDR Dow Jones Global Real Estate UCITS ETF Accumulating (SPY2.DE) at 3.62%. This indicates that IPRE.DE's price experiences larger fluctuations and is considered to be riskier than SPY2.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 | SPY2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.88% | 3.62% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 13.32% | 8.85% | +4.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.30% | 11.37% | +3.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.58% | 15.09% | +6.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.21% | 20.16% | +1.05% |
IPRE.DE vs. SPY2.DE - Expense Ratio Comparison
Both IPRE.DE and SPY2.DE have an expense ratio of 0.40%.
Dividends
IPRE.DE vs. SPY2.DE - Dividend Comparison
Neither IPRE.DE nor SPY2.DE has paid dividends to shareholders.
Frequently Asked Questions
IPRE.DE and SPY2.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.40% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IPRE.DE and SPY2.DE have the same expense ratio: 0.40% per year.
IPRE.DE tracks FTSE EPRA Nareit Developed Europe ex UK Dividend+ Index, while SPY2.DE tracks Dow Jones Global Select Real Estate Securities. They also come from different issuers: iShares and State Street.
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