SPYD vs. TRET.L

Last updated Jun 16, 2026

SPYD (State Street SPDR Portfolio S&P 500 High Dividend ETF) and TRET.L (VanEck Global Real Estate UCITS ETF) are both exchange-traded funds - SPYD is a S&P 500 fund tracking the S&P 500 High Dividend Index, while TRET.L is a REIT fund tracking the GPR Global 100 Index. Both are passively managed. Over the past 10 years, SPYD returned 8.85%/yr vs 5.65%/yr for TRET.L. At a 0.47 correlation, their price movements are largely independent. SPYD charges 0.07%/yr vs 0.25%/yr for TRET.L.

Performance

SPYD vs. TRET.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) and VanEck Global Real Estate UCITS ETF (TRET.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYD achieves a 13.63% return, which is significantly higher than TRET.L's 8.17% return. Over the past 10 years, SPYD has outperformed TRET.L with an annualized return of 8.85%, while TRET.L has yielded a comparatively lower 5.65% annualized return.

SPYD

• 1D: -0.96%
• 1M: 5.26%
• YTD: 13.63%
• 6M: 12.94%
• 1Y: 19.77%
• 3Y*: 14.01%
• 5Y*: 7.70%
• 10Y*: 8.85%

TRET.L

• 1D: -0.25%
• 1M: 2.98%
• YTD: 8.17%
• 6M: 8.79%
• 1Y: 14.84%
• 3Y*: 11.42%
• 5Y*: 2.69%
• 10Y*: 5.65%

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

SPYD vs. TRET.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	13.63%	4.65%	15.34%	3.91%	-1.17%	32.73%	-11.64%	21.20%	-4.89%	12.67%
TRET.L VanEck Global Real Estate UCITS ETF	8.17%	14.41%	1.07%	13.92%	-25.67%	29.73%	-6.91%	36.63%	0.98%	-3.31%

Correlation

The correlation between SPYD and TRET.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Oct 22, 2015	0.47

Return for Risk

SPYD vs. TRET.L — Risk / Return Rank

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

SPYD

SPYD Risk / Return Rank: 56
SPYD Sharpe Ratio Rank: 55
SPYD Sortino Ratio Rank: 61
SPYD Omega Ratio Rank: 51
SPYD Calmar Ratio Rank: 62
SPYD Martin Ratio Rank: 53

TRET.L

TRET.L Risk / Return Rank: 32
TRET.L Sharpe Ratio Rank: 34
TRET.L Sortino Ratio Rank: 34
TRET.L Omega Ratio Rank: 32
TRET.L Calmar Ratio Rank: 29
TRET.L Martin Ratio Rank: 33

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.

SPYD vs. TRET.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) and VanEck Global Real Estate UCITS ETF (TRET.L). 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.

	SPYD	TRET.L	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.18	+0.52
Sortino ratio: Return per unit of downside risk	2.55	1.76	+0.79
Omega ratio: Gain probability vs. loss probability	1.29	1.21	+0.08
Calmar ratio: Return relative to maximum drawdown	2.82	1.41	+1.41
Martin ratio: Return relative to average drawdown	8.20	4.82	+3.38

SPYD vs. TRET.L - Sharpe Ratio Comparison

The current SPYD Sharpe Ratio is 1.70, which is higher than the TRET.L Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of SPYD and TRET.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPYD vs. TRET.L - Drawdown Comparison

The maximum SPYD drawdown since its inception was -46.42%, which is greater than TRET.L's maximum drawdown of -42.25%. Use the drawdown chart below to compare losses from any high point for SPYD and TRET.L.

Drawdown Indicators

	SPYD	TRET.L	Difference
Max Drawdown Largest peak-to-trough decline	-46.42%	-42.25%	-4.17%
Max Drawdown (1Y) Largest decline over 1 year	-7.05%	-10.49%	+3.44%
Max Drawdown (3Y) Largest decline over 3 years	-16.13%	-16.92%	+0.79%
Max Drawdown (5Y) Largest decline over 5 years	-22.25%	-33.35%	+11.10%
Max Drawdown (10Y) Largest decline over 10 years	-46.42%	-42.25%	-4.17%
Current Drawdown Current decline from peak	-0.96%	-2.14%	+1.18%
Average Drawdown Average peak-to-trough decline	-6.15%	-10.61%	+4.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	3.07%	-0.65%

Volatility

SPYD vs. TRET.L - Volatility Comparison

The current volatility for State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) is 3.16%, while VanEck Global Real Estate UCITS ETF (TRET.L) has a volatility of 4.41%. This indicates that SPYD experiences smaller price fluctuations and is considered to be less risky than TRET.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYD	TRET.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.16%	4.41%	-1.25%
Volatility (6M) Calculated over the trailing 6-month period	7.79%	9.93%	-2.14%
Volatility (1Y) Calculated over the trailing 1-year period	11.71%	12.57%	-0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.15%	16.85%	-0.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.79%	17.98%	+1.81%

SPYD vs. TRET.L - Expense Ratio Comparison

SPYD has a 0.07% expense ratio, which is lower than TRET.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPYD vs. TRET.L - Dividend Comparison

SPYD's dividend yield for the trailing twelve months is around 4.09%, more than TRET.L's 3.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	4.09%	4.52%	4.31%	4.66%	5.01%	3.68%	4.95%	4.42%	4.75%	4.63%	4.34%	1.13%
TRET.L VanEck Global Real Estate UCITS ETF	3.36%	3.54%	3.56%	3.54%	4.55%	1.86%	4.18%	3.32%	5.03%	3.63%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPYD and TRET.L in my portfolio?

SPYD and TRET.L have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPYD or TRET.L?

On fees, SPYD is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPYD or TRET.L?

SPYD is cheaper with a 0.07% expense ratio, compared with 0.25% for TRET.L.

What is the main difference between SPYD and TRET.L?

SPYD is categorized as S&P 500, while TRET.L is REIT. SPYD tracks S&P 500 High Dividend Index, while TRET.L tracks GPR Global 100 Index. They also come from different issuers: State Street and VanEck. Their fees differ too: 0.07% for SPYD and 0.25% for TRET.L.