TRE.L vs. GLRA.L
TRE.L (First Trust Alerian Disruptive Technology Real Estate UCITS ETF USD (Acc)) and GLRA.L (SPDR® Dow Jones Global Real Estate UCITS ETF USD Cap) are both REIT funds - TRE.L tracks the Alerian Disruptive Technology Real Estate Index while GLRA.L tracks the FTSE EPRA Nareit Global TR USD. Both are passively managed. Over the past 3 years, TRE.L returned 2.81%/yr vs 10.13%/yr for GLRA.L. Their correlation of 0.86 suggests significant overlap in exposure. TRE.L charges 0.60%/yr vs 0.40%/yr for GLRA.L.
Performance
TRE.L vs. GLRA.L - Performance Comparison
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Returns By Period
In the year-to-date period, TRE.L achieves a 7.87% return, which is significantly lower than GLRA.L's 14.97% return.
TRE.L
- 1D
- 0.55%
- 1M
- 0.55%
- 6M
- 5.05%
- YTD
- 7.87%
- 1Y
- 10.69%
- 3Y*
- 2.81%
- 5Y*
- —
- 10Y*
- —
GLRA.L
- 1D
- 1.09%
- 1M
- 5.05%
- 6M
- 11.87%
- YTD
- 14.97%
- 1Y
- 20.84%
- 3Y*
- 10.13%
- 5Y*
- 2.22%
- 10Y*
- —
TRE.L vs. GLRA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TRE.L First Trust Alerian Disruptive Technology Real Estate UCITS ETF USD (Acc) | 7.87% | 7.74% | -10.98% | 13.15% | -25.64% |
GLRA.L SPDR® Dow Jones Global Real Estate UCITS ETF USD Cap | 14.97% | 10.02% | -0.73% | 11.38% | -22.99% |
Correlation
The correlation between TRE.L and GLRA.L is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2022 | 0.86 |
The correlation between TRE.L and GLRA.L has been stable across timeframes, ranging from 0.83 to 0.86 - a consistent structural relationship.
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Return for Risk
TRE.L vs. GLRA.L — Risk / Return Rank
TRE.L
GLRA.L
TRE.L vs. GLRA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Alerian Disruptive Technology Real Estate UCITS ETF USD (Acc) (TRE.L) and SPDR® Dow Jones Global Real Estate UCITS ETF USD Cap (GLRA.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.
| TRE.L | GLRA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.27 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 2.20 | -0.99 |
| Martin ratioReturn relative to average drawdown | 3.74 | 8.38 | -4.65 |
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Drawdowns
TRE.L vs. GLRA.L - Drawdown Comparison
The maximum TRE.L drawdown since its inception was -35.43%, smaller than the maximum GLRA.L drawdown of -38.24%. Use the drawdown chart below to compare losses from any high point for TRE.L and GLRA.L.
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Drawdown Indicators
| TRE.L | GLRA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.43% | -38.24% | +2.81% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -9.42% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -21.15% | -18.22% | -2.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.19% | — |
Current DrawdownCurrent decline from peak | -14.28% | 0.00% | -14.28% |
Average DrawdownAverage peak-to-trough decline | -21.59% | -14.85% | -6.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 2.48% | +0.57% |
Volatility
TRE.L vs. GLRA.L - Volatility Comparison
First Trust Alerian Disruptive Technology Real Estate UCITS ETF USD (Acc) (TRE.L) has a higher volatility of 4.97% compared to SPDR® Dow Jones Global Real Estate UCITS ETF USD Cap (GLRA.L) at 4.02%. This indicates that TRE.L's price experiences larger fluctuations and is considered to be riskier than GLRA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRE.L | GLRA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.97% | 4.02% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 11.13% | 10.53% | +0.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.98% | 13.37% | +0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.60% | 17.02% | +1.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.60% | 21.18% | -2.58% |
TRE.L vs. GLRA.L - Expense Ratio Comparison
TRE.L has a 0.60% expense ratio, which is higher than GLRA.L's 0.40% expense ratio.
Dividends
TRE.L vs. GLRA.L - Dividend Comparison
Neither TRE.L nor GLRA.L has paid dividends to shareholders.
Frequently Asked Questions
TRE.L and GLRA.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLRA.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLRA.L is cheaper with a 0.40% expense ratio, compared with 0.60% for TRE.L.
TRE.L tracks Alerian Disruptive Technology Real Estate Index, while GLRA.L tracks FTSE EPRA Nareit Global TR USD. They also come from different issuers: First Trust and State Street. Their fees differ too: 0.60% for TRE.L and 0.40% for GLRA.L.
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