IUSP.L vs. USRT

Last updated Jun 5, 2026

IUSP.L (iShares US Property Yield UCITS ETF) and USRT (iShares Core U.S. REIT ETF) are both REIT funds from iShares - IUSP.L tracks the FTSE EPRA Nareit United States TR USD while USRT tracks the FTSE NAREIT Equity REITs Index. Both are passively managed. Over the past 10 years, IUSP.L returned 6.52%/yr vs 7.19%/yr for USRT. At a 0.49 correlation, their price movements are largely independent. IUSP.L charges 0.40%/yr vs 0.08%/yr for USRT.

Performance

IUSP.L vs. USRT - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares US Property Yield UCITS ETF (IUSP.L) and iShares Core U.S. REIT ETF (USRT). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IUSP.L is traded in GBp, while USRT is traded in USD. To make them comparable, the USRT values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IUSP.L achieves a 13.45% return, which is significantly lower than USRT's 14.57% return. Over the past 10 years, IUSP.L has underperformed USRT with an annualized return of 6.52%, while USRT has yielded a comparatively higher 7.19% annualized return.

IUSP.L

• 1D: 0.01%
• 1M: 2.07%
• YTD: 13.45%
• 6M: 13.27%
• 1Y: 16.59%
• 3Y*: 8.66%
• 5Y*: 5.55%
• 10Y*: 6.52%

USRT

• 1D: 1.35%
• 1M: 1.54%
• YTD: 14.57%
• 6M: 12.52%
• 1Y: 17.86%
• 3Y*: 9.42%
• 5Y*: 6.15%
• 10Y*: 7.19%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IUSP.L vs. USRT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IUSP.L iShares US Property Yield UCITS ETF	13.45%	-3.93%	7.50%	7.68%	-14.52%	44.90%	-13.29%	18.62%	2.32%	-4.08%
USRT iShares Core U.S. REIT ETF	14.57%	-4.86%	10.48%	7.96%	-15.44%	44.62%	-10.76%	21.18%	0.98%	-3.84%

Correlation

The correlation between IUSP.L and USRT is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Jul 3, 2007	0.49

The correlation between IUSP.L and USRT shifts across timeframes, from 0.49 (all time) to 0.62 (3 years), reflecting how their relationship changes across market environments.

IUSP.L vs. USRT - Sectors Allocation Comparison

Sectors	IUSP.L	USRT
Real Estate	100.0%	99.4%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.1%
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IUSP.L vs. USRT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IUSP.L

IUSP.L Risk / Return Rank: 41
IUSP.L Sharpe Ratio Rank: 38
IUSP.L Sortino Ratio Rank: 37
IUSP.L Omega Ratio Rank: 36
IUSP.L Calmar Ratio Rank: 53
IUSP.L Martin Ratio Rank: 39

USRT

USRT Risk / Return Rank: 38
USRT Sharpe Ratio Rank: 36
USRT Sortino Ratio Rank: 34
USRT Omega Ratio Rank: 34
USRT Calmar Ratio Rank: 43
USRT Martin Ratio Rank: 42

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.

IUSP.L vs. USRT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares US Property Yield UCITS ETF (IUSP.L) and iShares Core U.S. REIT ETF (USRT). 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.

	IUSP.L	USRT	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.36	-0.05
Sortino ratio: Return per unit of downside risk	1.89	1.94	-0.05
Omega ratio: Gain probability vs. loss probability	1.23	1.24	0.00
Calmar ratio: Return relative to maximum drawdown	2.59	2.52	+0.07
Martin ratio: Return relative to average drawdown	6.00	7.11	-1.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUSP.L vs. USRT - Sharpe Ratio Comparison

The current IUSP.L Sharpe Ratio is 1.31, which is comparable to the USRT Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of IUSP.L and USRT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IUSP.L	USRT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	1.36	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.35	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.34	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.29	+0.05

Drawdowns

IUSP.L vs. USRT - Drawdown Comparison

The maximum IUSP.L drawdown since its inception was -62.68%, which is greater than USRT's maximum drawdown of -55.67%. Use the drawdown chart below to compare losses from any high point for IUSP.L and USRT.

Drawdown Indicators

	IUSP.L	USRT	Difference
Max Drawdown Largest peak-to-trough decline	-62.68%	-55.67%	-7.01%
Max Drawdown (1Y) Largest decline over 1 year	-6.38%	-7.12%	+0.74%
Max Drawdown (3Y) Largest decline over 3 years	-20.65%	-19.43%	-1.22%
Max Drawdown (5Y) Largest decline over 5 years	-26.86%	-26.59%	-0.27%
Max Drawdown (10Y) Largest decline over 10 years	-38.97%	-37.66%	-1.31%
Current Drawdown Current decline from peak	-2.07%	-1.49%	-0.58%
Average Drawdown Average peak-to-trough decline	-11.16%	-10.65%	-0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	2.52%	+0.24%

Volatility

IUSP.L vs. USRT - Volatility Comparison

iShares US Property Yield UCITS ETF (IUSP.L) and iShares Core U.S. REIT ETF (USRT) have volatilities of 3.53% and 3.58%, 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.

Volatility by Period

	IUSP.L	USRT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	3.58%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	9.40%	9.57%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	12.59%	13.16%	-0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.64%	17.83%	-1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	21.18%	-1.74%

IUSP.L vs. USRT - Expense Ratio Comparison

IUSP.L has a 0.40% expense ratio, which is higher than USRT's 0.08% expense ratio.

Dividends

IUSP.L vs. USRT - Dividend Comparison

IUSP.L's dividend yield for the trailing twelve months is around 4.01%, more than USRT's 2.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IUSP.L iShares US Property Yield UCITS ETF	4.01%	4.31%	3.87%	4.00%	4.62%	2.87%	4.40%	4.08%	5.87%	4.28%	4.37%	4.42%
USRT iShares Core U.S. REIT ETF	2.64%	3.07%	2.85%	3.18%	3.46%	2.27%	3.12%	3.34%	5.66%	3.44%	3.98%	3.59%

Frequently Asked Questions

Can I hold both IUSP.L and USRT in my portfolio?

IUSP.L and USRT have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IUSP.L or USRT?

On fees, USRT is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IUSP.L or USRT?

USRT is cheaper with a 0.08% expense ratio, compared with 0.40% for IUSP.L.

What is the main difference between IUSP.L and USRT?

IUSP.L tracks FTSE EPRA Nareit United States TR USD, while USRT tracks FTSE NAREIT Equity REITs Index. Their fees differ too: 0.40% for IUSP.L and 0.08% for USRT.