SKUK.AS vs. SPRE
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 4.45% vs 15.49% for SPRE. At a 0.21 correlation, their price movements are largely independent. SKUK.AS charges 0.40%/yr vs 0.69%/yr for SPRE.
Performance
SKUK.AS vs. SPRE - Performance Comparison
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Returns By Period
In the year-to-date period, SKUK.AS achieves a 0.27% return, which is significantly lower than SPRE's 10.84% return.
SKUK.AS
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.27%
- 6M
- 0.70%
- 1Y
- 4.45%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPRE
- 1D
- -0.16%
- 1M
- 1.03%
- YTD
- 10.84%
- 6M
- 10.06%
- 1Y
- 15.49%
- 3Y*
- 7.84%
- 5Y*
- 1.90%
- 10Y*
- —
SKUK.AS vs. SPRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SKUK.AS iShares $ Sukuk UCITS ETF USD (Dist) | 0.27% | 5.00% | 5.37% |
SPRE SP Funds S&P Global REIT Sharia ETF | 10.84% | 3.07% | 4.20% |
Correlation
The correlation between SKUK.AS and SPRE is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2024 | 0.21 |
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Return for Risk
SKUK.AS vs. SPRE — Risk / Return Rank
SKUK.AS
SPRE
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.AS | SPRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.21 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 1.62 | -0.29 |
| Martin ratioReturn relative to average drawdown | 4.98 | 5.80 | -0.82 |
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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.AS | SPRE | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -0.50% | -10.02% | +9.52% |
Average DrawdownAverage peak-to-trough decline | -0.65% | -17.83% | +17.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 2.68% | -1.79% |
Volatility
SKUK.AS vs. SPRE - Volatility Comparison
The current volatility for iShares $ Sukuk UCITS ETF USD (Dist) (SKUK.AS) is 0.96%, while SP Funds S&P Global REIT Sharia ETF (SPRE) has a volatility of 4.67%. 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.AS | SPRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 4.67% | -3.71% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 10.17% | -7.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.22% | 13.59% | -10.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.18% | 18.78% | -15.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.18% | 18.38% | -15.20% |
SKUK.AS vs. SPRE - Expense Ratio Comparison
SKUK.AS has a 0.40% expense ratio, which is lower than SPRE's 0.69% expense ratio.
Dividends
SKUK.AS vs. SPRE - Dividend Comparison
SKUK.AS's dividend yield for the trailing twelve months is around 4.79%, more than SPRE's 3.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SKUK.AS iShares $ Sukuk UCITS ETF USD (Dist) | 4.79% | 2.41% | 4.00% | 0.00% | 0.00% | 0.00% |
SPRE SP Funds S&P Global REIT Sharia ETF | 3.44% | 4.10% | 4.13% | 4.16% | 4.17% | 2.83% |
Frequently Asked Questions
SKUK.AS and SPRE have a correlation of 0.25, 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 0.69% 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 Toroso Investments. Their fees differ too: 0.40% for SKUK.AS and 0.69% for SPRE.
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