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SKUK.AS vs. SPRE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SKUK.AS vs. SPRE

Last updated Jul 21, 2026
Documentation

SKUK.AS (iShares $ Sukuk UCITS ETF USD (Dist)) and SPRE (SP Funds S&P Global REIT Sharia ETF) are both exchange-traded funds - SKUK.AS is a Emerging Markets Bonds fund tracking the J.P. Morgan EM Aggregate Sukuk Index, while SPRE is a REIT fund tracking the S&P Global All Equity REIT Shariah Capped Index. Both are passively managed. Over the past year, SKUK.AS returned 3.40% vs 16.96% for SPRE. At a 0.21 correlation, their price movements are largely independent. SKUK.AS charges 0.40%/yr vs 0.50%/yr for SPRE.

Performance

SKUK.AS vs. SPRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares $ Sukuk UCITS ETF USD (Dist) (SKUK.AS) and SP Funds S&P Global REIT Sharia ETF (SPRE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SKUK.AS achieves a -0.12% return, which is significantly lower than SPRE's 13.06% return.

SKUK.AS

1D
0.00%
1M
-0.31%
6M
0.29%
YTD
-0.12%
1Y
3.40%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
4.07%

SPRE

1D
0.51%
1M
2.73%
6M
10.86%
YTD
13.06%
1Y
16.96%
3Y*
6.99%
5Y*
1.53%
10Y*
—
ALL TIME*
5.22%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SKUK.AS vs. SPRE - Yearly Performance Comparison

2026 (YTD)20252024
SKUK.AS
iShares $ Sukuk UCITS ETF USD (Dist)		-0.12%5.00%5.37%
SPRE
SP Funds S&P Global REIT Sharia ETF		13.06%3.07%4.20%

Correlation

The correlation between SKUK.AS and SPRE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.22

Correlation (All Time)
Calculated using the full available price history since Jan 17, 2024

0.21

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares $ Sukuk UCITS ETF USD (Dist)

SP Funds S&P Global REIT Sharia ETF

Often compared with SKUK.AS:
SKUK.AS vs. SPSKSKUK.AS vs. IWDA.ASSKUK.AS vs. CSPX.ASSKUK.AS vs. DFND.ASSKUK.AS vs. WINC.ASSKUK.AS vs. EUEA.ASSKUK.AS vs. CNDX.AS
Often compared with SPRE:
SPRE vs. SPUSSPRE vs. SPSKSPRE vs. SPYSPRE vs. HLALSPRE vs. UMMASPRE vs. SRETSPRE vs. RITA

Return for Risk

SKUK.AS vs. SPRE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SKUK.AS
SKUK.AS Risk / Return Rank: 3737
Overall Rank
SKUK.AS Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
SKUK.AS Sortino Ratio Rank: 4242
Sortino Ratio Rank
SKUK.AS Omega Ratio Rank: 4343
Omega Ratio Rank
SKUK.AS Calmar Ratio Rank: 2828
Calmar Ratio Rank
SKUK.AS Martin Ratio Rank: 3434
Martin Ratio Rank
SPRE
SPRE Risk / Return Rank: 4747
Overall Rank
SPRE Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
SPRE Sortino Ratio Rank: 4646
Sortino Ratio Rank
SPRE Omega Ratio Rank: 4545
Omega Ratio Rank
SPRE Calmar Ratio Rank: 4646
Calmar Ratio Rank
SPRE Martin Ratio Rank: 5151
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.

SKUK.AS vs. SPRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares $ Sukuk UCITS ETF USD (Dist) (SKUK.AS) and SP Funds S&P Global REIT Sharia ETF (SPRE). 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.

SKUK.ASSPREDifference
Sharpe ratioReturn per unit of total volatility
1.06
1.25

-0.20

Sortino ratioReturn per unit of downside risk
1.64
1.79

-0.15

Omega ratioGain probability vs. loss probability

1.21

1.22

-0.01

Calmar ratioReturn relative to maximum drawdown

1.01

1.77

-0.76

Martin ratioReturn relative to average drawdown

3.73

6.32

-2.59

SKUK.AS vs. SPRE - Sharpe Ratio Comparison

The current SKUK.AS Sharpe Ratio is 1.06, which is comparable to the SPRE Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of SKUK.AS and SPRE, 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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Drawdowns

SKUK.AS vs. SPRE - Drawdown Comparison

The maximum SKUK.AS drawdown since its inception was -3.33%, smaller than the maximum SPRE drawdown of -38.34%. Use the drawdown chart below to compare losses from any high point for SKUK.AS and SPRE.

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Drawdown Indicators

SKUK.ASSPREDifference

Max Drawdown

Largest peak-to-trough decline

-3.33%

-38.34%

+35.01%

Max Drawdown (1Y)

Largest decline over 1 year

-3.33%

-9.63%

+6.30%

Max Drawdown (3Y)

Largest decline over 3 years

—

-22.04%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-38.34%

—

Current Drawdown

Current decline from peak

-0.89%

-8.21%

+7.32%

Average Drawdown

Average peak-to-trough decline

-0.65%

-17.73%

+17.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.91%

2.69%

-1.78%

Volatility

SKUK.AS vs. SPRE - Volatility Comparison

The current volatility for iShares $ Sukuk UCITS ETF USD (Dist) (SKUK.AS) is 0.59%, while SP Funds S&P Global REIT Sharia ETF (SPRE) has a volatility of 3.43%. This indicates that SKUK.AS experiences smaller price fluctuations and is considered to be less risky than SPRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SKUK.ASSPREDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.59%

3.43%

-2.84%

Volatility (6M)

Calculated over the trailing 6-month period

2.81%

10.36%

-7.55%

Volatility (1Y)

Calculated over the trailing 1-year period

3.20%

13.57%

-10.37%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.15%

18.78%

-15.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.15%

18.32%

-15.17%

SKUK.AS vs. SPRE - Expense Ratio Comparison

SKUK.AS has a 0.40% expense ratio, which is lower than SPRE's 0.50% expense ratio.

Dividends

SKUK.AS vs. SPRE - Dividend Comparison

SKUK.AS's dividend yield for the trailing twelve months is around 4.81%, more than SPRE's 3.70% yield.

PositionTTM20252024202320222021
SKUK.AS
iShares $ Sukuk UCITS ETF USD (Dist)		4.81%2.41%4.00%0.00%0.00%0.00%
SPRE
SP Funds S&P Global REIT Sharia ETF		3.70%4.10%4.13%4.16%4.17%2.83%

Frequently Asked Questions

SKUK.AS and SPRE have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

SKUK.AS is cheaper with a 0.40% expense ratio, compared with 0.50% for SPRE.

SKUK.AS is categorized as Emerging Markets Bonds, while SPRE is REIT. SKUK.AS tracks J.P. Morgan EM Aggregate Sukuk Index, while SPRE tracks S&P Global All Equity REIT Shariah Capped Index. They also come from different issuers: iShares and SP Funds. Their fees differ too: 0.40% for SKUK.AS and 0.50% for SPRE.

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