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IPRP.L vs. DPYG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IPRP.L vs. DPYG.L

Last updated Jun 4, 2026

IPRP.L (iShares European Property Yield UCITS ETF) and DPYG.L (iShares Developed Markets Property Yield UCITS ETF GBP Hedged (Dist)) are both REIT funds from iShares - IPRP.L tracks the FTSE EPRA Nareit Developed Europe TR EUR while DPYG.L tracks the FTSE EPRA/NAREIT Developed Dividend+ (GBP Hedged). Both are passively managed. Over the past 5 years, IPRP.L returned -3.66%/yr vs 1.37%/yr for DPYG.L. A 0.61 correlation means they provide meaningful diversification when combined. IPRP.L charges 0.40%/yr vs 0.64%/yr for DPYG.L.

Performance

IPRP.L vs. DPYG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares European Property Yield UCITS ETF (IPRP.L) and iShares Developed Markets Property Yield UCITS ETF GBP Hedged (Dist) (DPYG.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IPRP.L is traded in GBp, while DPYG.L is traded in GBP. To make them comparable, the DPYG.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IPRP.L achieves a -1.05% return, which is significantly lower than DPYG.L's 6.70% return.

IPRP.L

1D
-1.58%
1M
-3.53%
YTD
-1.05%
6M
-0.53%
1Y
0.82%
3Y*
11.59%
5Y*
-3.66%
10Y*
2.01%

DPYG.L

1D
0.24%
1M
-1.22%
YTD
6.70%
6M
7.43%
1Y
11.25%
3Y*
8.45%
5Y*
1.37%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IPRP.L vs. DPYG.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
IPRP.L
iShares European Property Yield UCITS ETF		-1.05%14.18%-4.49%16.04%-33.34%2.23%-3.56%18.93%-1.82%
DPYG.L
iShares Developed Markets Property Yield UCITS ETF GBP Hedged (Dist)		6.70%7.38%2.06%9.46%-22.94%27.74%-13.64%19.27%1.57%

Correlation

The correlation between IPRP.L and DPYG.L is 0.61, 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

0.61

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

0.62

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

0.65

Correlation (All Time)
Calculated using the full available price history since Mar 9, 2018

0.61

The correlation between IPRP.L and DPYG.L has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.

IPRP.L vs. DPYG.L - Sectors Allocation Comparison

Sectors
IPRP.L
DPYG.L

Real Estate

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

0.0%

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

0.1%

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

-

-

Real Estate

IPRP.L
100.0%
DPYG.L
100.0%

Basic Materials

IPRP.L

-

DPYG.L

-

Communication Services

IPRP.L

-

DPYG.L

-

Consumer Cyclical

IPRP.L

-

DPYG.L
0.0%

Consumer Defensive

IPRP.L

-

DPYG.L

-

Energy

IPRP.L

-

DPYG.L

-

Financial Services

IPRP.L

-

DPYG.L
0.1%

Healthcare

IPRP.L

-

DPYG.L

-

Industrials

IPRP.L

-

DPYG.L

-

Technology

IPRP.L

-

DPYG.L

-

Utilities

IPRP.L

-

DPYG.L

-

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iShares European Property Yield UCITS ETF

iShares Developed Markets Property Yield UCITS ETF GBP Hedged (Dist)

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IPRP.L vs. IUSP.LIPRP.L vs. IEUSIPRP.L vs. VNQIPRP.L vs. IDWP.LIPRP.L vs. AYEP.DEIPRP.L vs. XDER.LIPRP.L vs. IJS
Often compared with DPYG.L:
DPYG.L vs. VNQDPYG.L vs. WNEW.LDPYG.L vs. IUKP.LDPYG.L vs. IWDP.LDPYG.L vs. EPRA.LDPYG.L vs. HPRD.LDPYG.L vs. WTNR.L

Return for Risk

IPRP.L vs. DPYG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IPRP.L
IPRP.L Risk / Return Rank: 99
Overall Rank
IPRP.L Sharpe Ratio Rank: 99
Sharpe Ratio Rank
IPRP.L Sortino Ratio Rank: 99
Sortino Ratio Rank
IPRP.L Omega Ratio Rank: 99
Omega Ratio Rank
IPRP.L Calmar Ratio Rank: 99
Calmar Ratio Rank
IPRP.L Martin Ratio Rank: 99
Martin Ratio Rank
DPYG.L
DPYG.L Risk / Return Rank: 2828
Overall Rank
DPYG.L Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
DPYG.L Sortino Ratio Rank: 2828
Sortino Ratio Rank
DPYG.L Omega Ratio Rank: 2727
Omega Ratio Rank
DPYG.L Calmar Ratio Rank: 2626
Calmar Ratio Rank
DPYG.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.

IPRP.L vs. DPYG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares European Property Yield UCITS ETF (IPRP.L) and iShares Developed Markets Property Yield UCITS ETF GBP Hedged (Dist) (DPYG.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.

IPRP.LDPYG.LDifference
Sharpe ratioReturn per unit of total volatility
0.05
1.00

-0.95

Sortino ratioReturn per unit of downside risk
0.18
1.50

-1.31

Omega ratioGain probability vs. loss probability

1.02

1.18

-0.16

Calmar ratioReturn relative to maximum drawdown

0.05

1.24

-1.18

Martin ratioReturn relative to average drawdown

0.14

4.23

-4.09

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

IPRP.L vs. DPYG.L - Sharpe Ratio Comparison

The current IPRP.L Sharpe Ratio is 0.05, which is lower than the DPYG.L Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of IPRP.L and DPYG.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

IPRP.LDPYG.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.05

1.00

-0.95

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.17

0.09

-0.26

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.10

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.22

0.20

+0.03

Drawdowns

IPRP.L vs. DPYG.L - Drawdown Comparison

The maximum IPRP.L drawdown since its inception was -59.70%, which is greater than DPYG.L's maximum drawdown of -42.55%. Use the drawdown chart below to compare losses from any high point for IPRP.L and DPYG.L.

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Drawdown Indicators

IPRP.LDPYG.LDifference

Max Drawdown

Largest peak-to-trough decline

-59.70%

-42.55%

-17.15%

Max Drawdown (1Y)

Largest decline over 1 year

-16.11%

-9.07%

-7.04%

Max Drawdown (3Y)

Largest decline over 3 years

-16.11%

-16.89%

+0.78%

Max Drawdown (5Y)

Largest decline over 5 years

-48.44%

-31.83%

-16.61%

Max Drawdown (10Y)

Largest decline over 10 years

-48.44%

—

—

Current Drawdown

Current decline from peak

-23.32%

-2.86%

-20.46%

Average Drawdown

Average peak-to-trough decline

-14.68%

-11.78%

-2.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.87%

2.65%

+3.22%

Volatility

IPRP.L vs. DPYG.L - Volatility Comparison

iShares European Property Yield UCITS ETF (IPRP.L) has a higher volatility of 4.76% compared to iShares Developed Markets Property Yield UCITS ETF GBP Hedged (Dist) (DPYG.L) at 3.43%. This indicates that IPRP.L's price experiences larger fluctuations and is considered to be riskier than DPYG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IPRP.LDPYG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.76%

3.43%

+1.33%

Volatility (6M)

Calculated over the trailing 6-month period

13.02%

8.58%

+4.44%

Volatility (1Y)

Calculated over the trailing 1-year period

15.13%

11.15%

+3.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.51%

15.14%

+6.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.33%

17.43%

+1.90%

IPRP.L vs. DPYG.L - Expense Ratio Comparison

IPRP.L has a 0.40% expense ratio, which is lower than DPYG.L's 0.64% expense ratio.

Dividends

IPRP.L vs. DPYG.L - Dividend Comparison

IPRP.L's dividend yield for the trailing twelve months is around 3.36%, more than DPYG.L's 2.95% yield.

PositionTTM20252024202320222021202020192018201720162015
DPYG.L
iShares Developed Markets Property Yield UCITS ETF GBP Hedged (Dist)		2.95%3.02%3.11%3.00%3.71%2.13%2.98%2.95%2.99%0.00%0.00%0.00%
IPRP.L
iShares European Property Yield UCITS ETF		3.36%3.32%3.30%3.05%4.90%2.47%2.96%3.46%3.70%3.20%3.07%3.60%

Frequently Asked Questions

IPRP.L and DPYG.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

IPRP.L is cheaper with a 0.40% expense ratio, compared with 0.64% for DPYG.L.

IPRP.L tracks FTSE EPRA Nareit Developed Europe TR EUR, while DPYG.L tracks FTSE EPRA/NAREIT Developed Dividend+ (GBP Hedged). Their fees differ too: 0.40% for IPRP.L and 0.64% for DPYG.L.

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