SPYJ.DE vs. IPRE.DE
SPYJ.DE (SPDR Dow Jones Global Real Estate UCITS ETF) and IPRE.DE (iShares European Property Yield UCITS ETF EUR (Acc)) are both REIT funds - SPYJ.DE tracks the Dow Jones Global Select Real Estate Securities while IPRE.DE tracks the FTSE EPRA Nareit Developed Europe ex UK Dividend+ Index. Both are passively managed. Over the past 5 years, SPYJ.DE returned 2.35%/yr vs -4.65%/yr for IPRE.DE. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.40% expense ratio.
Performance
SPYJ.DE vs. IPRE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYJ.DE achieves a 15.05% return, which is significantly higher than IPRE.DE's 2.10% return.
SPYJ.DE
- 1D
- -0.03%
- 1M
- 2.61%
- 6M
- 12.64%
- YTD
- 15.05%
- 1Y
- 19.61%
- 3Y*
- 8.23%
- 5Y*
- 2.35%
- 10Y*
- 2.40%
IPRE.DE
- 1D
- 0.00%
- 1M
- 0.21%
- 6M
- 1.04%
- YTD
- 2.10%
- 1Y
- 1.46%
- 3Y*
- 10.19%
- 5Y*
- -4.65%
- 10Y*
- —
SPYJ.DE vs. IPRE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPYJ.DE SPDR Dow Jones Global Real Estate UCITS ETF | 15.05% | -2.34% | 4.88% | 7.77% | -20.63% | 41.27% | -18.75% | 22.75% | -7.23% |
IPRE.DE iShares European Property Yield UCITS ETF EUR (Acc) | 2.10% | 8.66% | -0.90% | 18.13% | -37.40% | 8.12% | -8.88% | 26.14% | -4.74% |
Correlation
The correlation between SPYJ.DE and IPRE.DE is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2018 | 0.60 |
The correlation between SPYJ.DE and IPRE.DE has been stable across timeframes, ranging from 0.53 to 0.60 - a consistent structural relationship.
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Return for Risk
SPYJ.DE vs. IPRE.DE — Risk / Return Rank
SPYJ.DE
IPRE.DE
SPYJ.DE vs. IPRE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones Global Real Estate UCITS ETF (SPYJ.DE) and iShares European Property Yield UCITS ETF EUR (Acc) (IPRE.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.
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.
| SPYJ.DE | IPRE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.61 | ||
| Sortino ratioReturn per unit of downside risk | +2.18 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.03 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 0.10 | +2.71 |
| Martin ratioReturn relative to average drawdown | 9.68 | 0.23 | +9.46 |
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Drawdowns
SPYJ.DE vs. IPRE.DE - Drawdown Comparison
The maximum SPYJ.DE drawdown since its inception was -42.93%, smaller than the maximum IPRE.DE drawdown of -50.15%. Use the drawdown chart below to compare losses from any high point for SPYJ.DE and IPRE.DE.
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Drawdown Indicators
| SPYJ.DE | IPRE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.93% | -50.15% | +7.22% |
Max Drawdown (1Y)Largest decline over 1 year | -6.95% | -15.03% | +8.08% |
Max Drawdown (3Y)Largest decline over 3 years | -20.28% | -17.41% | -2.87% |
Max Drawdown (5Y)Largest decline over 5 years | -30.70% | -49.30% | +18.60% |
Max Drawdown (10Y)Largest decline over 10 years | -42.93% | — | — |
Current DrawdownCurrent decline from peak | -1.81% | -25.54% | +23.73% |
Average DrawdownAverage peak-to-trough decline | -11.19% | -23.69% | +12.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 6.46% | -4.44% |
Volatility
SPYJ.DE vs. IPRE.DE - Volatility Comparison
The current volatility for SPDR Dow Jones Global Real Estate UCITS ETF (SPYJ.DE) is 3.57%, while iShares European Property Yield UCITS ETF EUR (Acc) (IPRE.DE) has a volatility of 4.47%. This indicates that SPYJ.DE experiences smaller price fluctuations and is considered to be less risky than IPRE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYJ.DE | IPRE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 4.47% | -0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 8.88% | 13.28% | -4.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.47% | 15.53% | -4.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.21% | 21.59% | -6.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.95% | 21.19% | -4.24% |
SPYJ.DE vs. IPRE.DE - Expense Ratio Comparison
Both SPYJ.DE and IPRE.DE have an expense ratio of 0.40%.
Dividends
SPYJ.DE vs. IPRE.DE - Dividend Comparison
SPYJ.DE's dividend yield for the trailing twelve months is around 2.42%, while IPRE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPRE.DE iShares European Property Yield UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPYJ.DE SPDR Dow Jones Global Real Estate UCITS ETF | 2.42% | 2.80% | 2.70% | 2.67% | 2.91% | 1.76% | 2.70% | 2.61% | 1.57% | 2.23% | 2.53% | 2.10% |
Frequently Asked Questions
SPYJ.DE and IPRE.DE have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.40% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SPYJ.DE and IPRE.DE have the same expense ratio: 0.40% per year.
SPYJ.DE tracks Dow Jones Global Select Real Estate Securities, while IPRE.DE tracks FTSE EPRA Nareit Developed Europe ex UK Dividend+ Index. They also come from different issuers: State Street and iShares.
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