SPY2.DE vs. UKPH.DE
SPY2.DE (SPDR Dow Jones Global Real Estate UCITS ETF Accumulating) and UKPH.DE (iShares UK Property UCITS ETF (EUR Hedged) Acc) are both REIT funds - SPY2.DE tracks the Dow Jones Global Select Real Estate Securities while UKPH.DE tracks the FTSE EPRA/NAREIT United Kingdom (EUR Hedged). Both are passively managed. Over the past 3 years, SPY2.DE returned 5.92%/yr vs -1.16%/yr for UKPH.DE. A 0.57 correlation means they provide meaningful diversification when combined. SPY2.DE charges 0.40%/yr vs 0.42%/yr for UKPH.DE.
Performance
SPY2.DE vs. UKPH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPY2.DE achieves a 8.38% return, which is significantly higher than UKPH.DE's -1.89% return.
SPY2.DE
- 1D
- 0.10%
- 1M
- -0.62%
- YTD
- 8.38%
- 6M
- 7.13%
- 1Y
- 10.21%
- 3Y*
- 5.92%
- 5Y*
- 2.27%
- 10Y*
- —
UKPH.DE
- 1D
- 1.34%
- 1M
- 3.00%
- YTD
- -1.89%
- 6M
- -1.39%
- 1Y
- -2.14%
- 3Y*
- -1.16%
- 5Y*
- —
- 10Y*
- —
SPY2.DE vs. UKPH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPY2.DE SPDR Dow Jones Global Real Estate UCITS ETF Accumulating | 8.38% | -2.42% | 5.09% | 7.66% | -11.70% |
UKPH.DE iShares UK Property UCITS ETF (EUR Hedged) Acc | -1.89% | 7.71% | -14.33% | 8.55% | -23.13% |
Correlation
The correlation between SPY2.DE and UKPH.DE is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since May 23, 2022 | 0.57 |
The correlation between SPY2.DE and UKPH.DE has been stable across timeframes, ranging from 0.56 to 0.57 - a consistent structural relationship.
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Return for Risk
SPY2.DE vs. UKPH.DE — Risk / Return Rank
SPY2.DE
UKPH.DE
SPY2.DE vs. UKPH.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones Global Real Estate UCITS ETF Accumulating (SPY2.DE) and iShares UK Property UCITS ETF (EUR Hedged) Acc (UKPH.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.
| SPY2.DE | UKPH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.00 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.00 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | -0.12 | +1.60 |
| Martin ratioReturn relative to average drawdown | 4.38 | -0.29 | +4.66 |
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
| SPY2.DE | UKPH.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | -0.11 | +1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | -0.31 | +0.36 |
Drawdowns
SPY2.DE vs. UKPH.DE - Drawdown Comparison
The maximum SPY2.DE drawdown since its inception was -42.59%, which is greater than UKPH.DE's maximum drawdown of -36.06%. Use the drawdown chart below to compare losses from any high point for SPY2.DE and UKPH.DE.
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Drawdown Indicators
| SPY2.DE | UKPH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.59% | -36.06% | -6.53% |
Max Drawdown (1Y)Largest decline over 1 year | -6.86% | -17.69% | +10.83% |
Max Drawdown (3Y)Largest decline over 3 years | -20.14% | -23.56% | +3.42% |
Max Drawdown (5Y)Largest decline over 5 years | -30.72% | — | — |
Current DrawdownCurrent decline from peak | -7.69% | -26.71% | +19.02% |
Average DrawdownAverage peak-to-trough decline | -15.50% | -24.07% | +8.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.33% | 7.45% | -5.12% |
Volatility
SPY2.DE vs. UKPH.DE - Volatility Comparison
The current volatility for SPDR Dow Jones Global Real Estate UCITS ETF Accumulating (SPY2.DE) is 2.82%, while iShares UK Property UCITS ETF (EUR Hedged) Acc (UKPH.DE) has a volatility of 5.86%. This indicates that SPY2.DE experiences smaller price fluctuations and is considered to be less risky than UKPH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPY2.DE | UKPH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.82% | 5.86% | -3.04% |
Volatility (6M)Calculated over the trailing 6-month period | 8.57% | 15.30% | -6.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.46% | 18.73% | -7.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.06% | 21.48% | -6.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.91% | 21.48% | -1.57% |
SPY2.DE vs. UKPH.DE - Expense Ratio Comparison
SPY2.DE has a 0.40% expense ratio, which is lower than UKPH.DE's 0.42% expense ratio.
Dividends
SPY2.DE vs. UKPH.DE - Dividend Comparison
Neither SPY2.DE nor UKPH.DE has paid dividends to shareholders.
Frequently Asked Questions
SPY2.DE and UKPH.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPY2.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPY2.DE is cheaper with a 0.40% expense ratio, compared with 0.42% for UKPH.DE.
SPY2.DE tracks Dow Jones Global Select Real Estate Securities, while UKPH.DE tracks FTSE EPRA/NAREIT United Kingdom (EUR Hedged). They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for SPY2.DE and 0.42% for UKPH.DE.
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