IPRP.L vs. SPY2.DE
IPRP.L (iShares European Property Yield UCITS ETF) and SPY2.DE (SPDR Dow Jones Global Real Estate UCITS ETF Accumulating) are both REIT funds - IPRP.L tracks the FTSE EPRA Nareit Developed Europe TR EUR while SPY2.DE tracks the Dow Jones Global Select Real Estate Securities. Both are passively managed. Over the past 5 years, IPRP.L returned -3.55%/yr vs 2.42%/yr for SPY2.DE. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.40% expense ratio.
Performance
IPRP.L vs. SPY2.DE - Performance Comparison
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Different Trading Currencies
IPRP.L is traded in GBp, while SPY2.DE is traded in EUR. To make them comparable, the SPY2.DE 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 -0.45% return, which is significantly lower than SPY2.DE's 7.53% return.
IPRP.L
- 1D
- 0.61%
- 1M
- -1.16%
- YTD
- -0.45%
- 6M
- 0.27%
- 1Y
- 1.71%
- 3Y*
- 11.51%
- 5Y*
- -3.55%
- 10Y*
- 1.98%
SPY2.DE
- 1D
- 0.23%
- 1M
- -0.39%
- YTD
- 7.53%
- 6M
- 6.09%
- 1Y
- 13.19%
- 3Y*
- 6.08%
- 5Y*
- 2.42%
- 10Y*
- —
IPRP.L vs. SPY2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IPRP.L iShares European Property Yield UCITS ETF | -0.45% | 14.18% | -4.49% | 16.04% | -33.34% | 2.23% | -3.56% | 1.44% |
SPY2.DE SPDR Dow Jones Global Real Estate UCITS ETF Accumulating | 7.53% | 2.65% | 0.51% | 5.51% | -16.65% | 31.63% | -14.19% | -2.54% |
Correlation
The correlation between IPRP.L and SPY2.DE is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2019 | 0.60 |
The correlation between IPRP.L and SPY2.DE has been stable across timeframes, ranging from 0.55 to 0.60 - a consistent structural relationship.
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Return for Risk
IPRP.L vs. SPY2.DE — Risk / Return Rank
IPRP.L
SPY2.DE
IPRP.L vs. SPY2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares European Property Yield UCITS ETF (IPRP.L) 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.
| IPRP.L | SPY2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.21 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 1.72 | -1.61 |
| Martin ratioReturn relative to average drawdown | 0.29 | 5.74 | -5.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IPRP.L | SPY2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.11 | 1.17 | -1.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.16 | 0.16 | -0.33 |
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 | 0.06 | +0.17 |
Drawdowns
IPRP.L vs. SPY2.DE - Drawdown Comparison
The maximum IPRP.L drawdown since its inception was -59.70%, which is greater than SPY2.DE's maximum drawdown of -36.01%. Use the drawdown chart below to compare losses from any high point for IPRP.L and SPY2.DE.
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Drawdown Indicators
| IPRP.L | SPY2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.70% | -36.01% | -23.69% |
Max Drawdown (1Y)Largest decline over 1 year | -16.11% | -7.65% | -8.46% |
Max Drawdown (3Y)Largest decline over 3 years | -16.11% | -18.20% | +2.09% |
Max Drawdown (5Y)Largest decline over 5 years | -48.44% | -27.55% | -20.89% |
Max Drawdown (10Y)Largest decline over 10 years | -48.44% | — | — |
Current DrawdownCurrent decline from peak | -22.85% | -4.25% | -18.60% |
Average DrawdownAverage peak-to-trough decline | -14.69% | -13.01% | -1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.93% | 2.29% | +3.64% |
Volatility
IPRP.L vs. SPY2.DE - Volatility Comparison
iShares European Property Yield UCITS ETF (IPRP.L) has a higher volatility of 4.48% compared to SPDR Dow Jones Global Real Estate UCITS ETF Accumulating (SPY2.DE) at 3.00%. This indicates that IPRP.L'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
| IPRP.L | SPY2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.48% | 3.00% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 13.02% | 8.78% | +4.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.13% | 11.25% | +3.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.51% | 14.74% | +6.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.32% | 18.70% | +0.62% |
IPRP.L vs. SPY2.DE - Expense Ratio Comparison
Both IPRP.L and SPY2.DE have an expense ratio of 0.40%.
Dividends
IPRP.L vs. SPY2.DE - Dividend Comparison
IPRP.L's dividend yield for the trailing twelve months is around 3.34%, while SPY2.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPRP.L iShares European Property Yield UCITS ETF | 3.34% | 3.32% | 3.30% | 3.05% | 4.90% | 2.47% | 2.96% | 3.46% | 3.70% | 3.20% | 3.07% | 3.60% |
SPY2.DE SPDR Dow Jones Global Real Estate UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IPRP.L and SPY2.DE have a correlation of 0.55, 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.
IPRP.L and SPY2.DE have the same expense ratio: 0.40% per year.
IPRP.L tracks FTSE EPRA Nareit Developed Europe TR EUR, 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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