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TRE.L vs. IUSP.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TRE.L vs. IUSP.L

Last updated Jul 16, 2026
Documentation

TRE.L (First Trust Alerian Disruptive Technology Real Estate UCITS ETF) and IUSP.L (iShares US Property Yield UCITS ETF) are both REIT funds - TRE.L tracks the First Trust Alerian Disruptive Technology Real Estate UCITS ETF while IUSP.L tracks the FTSE EPRA Nareit United States TR USD. Both are passively managed. Over the past 3 years, TRE.L returned 2.81%/yr vs 9.76%/yr for IUSP.L. Their correlation of 0.83 suggests significant overlap in exposure.

Performance

TRE.L vs. IUSP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Alerian Disruptive Technology Real Estate UCITS ETF (TRE.L) and iShares US Property Yield UCITS ETF (IUSP.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

TRE.L is traded in USD, while IUSP.L is traded in GBp. To make them comparable, the IUSP.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, TRE.L achieves a 7.87% return, which is significantly lower than IUSP.L's 16.47% return.

TRE.L

1D
0.55%
1M
-0.32%
6M
6.26%
YTD
7.87%
1Y
10.69%
3Y*
2.81%
5Y*
—
10Y*
—

IUSP.L

1D
0.25%
1M
0.38%
6M
14.76%
YTD
16.47%
1Y
18.64%
3Y*
9.76%
5Y*
3.35%
10Y*
4.26%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TRE.L vs. IUSP.L - Yearly Performance Comparison

2026 (YTD)2025202420232022
TRE.L
First Trust Alerian Disruptive Technology Real Estate UCITS ETF		7.87%7.74%-10.98%13.15%-25.64%
IUSP.L
iShares US Property Yield UCITS ETF		16.47%2.28%4.81%12.43%-22.43%

Correlation

The correlation between TRE.L and IUSP.L is 0.80, 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

0.80

Correlation (3Y)
Calculated over the trailing 3-year period

0.84

Correlation (All Time)
Calculated using the full available price history since Apr 4, 2022

0.83

The correlation between TRE.L and IUSP.L has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Alerian Disruptive Technology Real Estate UCITS ETF

iShares US Property Yield UCITS ETF

Often compared with IUSP.L:
IUSP.L vs. IWDP.LIUSP.L vs. IPRP.LIUSP.L vs. VNQIUSP.L vs. IUKP.LIUSP.L vs. HPRO.LIUSP.L vs. BBOX.LIUSP.L vs. GBRE.L

Return for Risk

TRE.L vs. IUSP.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TRE.L
TRE.L Risk / Return Rank: 2828
Overall Rank
TRE.L Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
TRE.L Sortino Ratio Rank: 2828
Sortino Ratio Rank
TRE.L Omega Ratio Rank: 2424
Omega Ratio Rank
TRE.L Calmar Ratio Rank: 2929
Calmar Ratio Rank
TRE.L Martin Ratio Rank: 3131
Martin Ratio Rank
IUSP.L
IUSP.L Risk / Return Rank: 5151
Overall Rank
IUSP.L Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
IUSP.L Sortino Ratio Rank: 4949
Sortino Ratio Rank
IUSP.L Omega Ratio Rank: 4545
Omega Ratio Rank
IUSP.L Calmar Ratio Rank: 6666
Calmar Ratio Rank
IUSP.L Martin Ratio Rank: 4646
Martin Ratio Rank
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.

TRE.L vs. IUSP.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 (TRE.L) and iShares US Property Yield UCITS ETF (IUSP.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.LIUSP.LDifference
Sharpe ratioReturn per unit of total volatility
0.81
1.46

-0.64

Sortino ratioReturn per unit of downside risk
1.29
2.14

-0.85

Omega ratioGain probability vs. loss probability

1.14

1.25

-0.11

Calmar ratioReturn relative to maximum drawdown

1.21

2.37

-1.16

Martin ratioReturn relative to average drawdown

3.74

6.64

-2.90

TRE.L vs. IUSP.L - Sharpe Ratio Comparison

The current TRE.L Sharpe Ratio is 0.81, which is lower than the IUSP.L Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of TRE.L and IUSP.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.

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Drawdowns

TRE.L vs. IUSP.L - Drawdown Comparison

The maximum TRE.L drawdown since its inception was -35.43%, smaller than the maximum IUSP.L drawdown of -85.28%. Use the drawdown chart below to compare losses from any high point for TRE.L and IUSP.L.

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Drawdown Indicators

TRE.LIUSP.LDifference

Max Drawdown

Largest peak-to-trough decline

-35.43%

-85.28%

+49.85%

Max Drawdown (1Y)

Largest decline over 1 year

-9.41%

-7.83%

-1.58%

Max Drawdown (3Y)

Largest decline over 3 years

-21.15%

-19.96%

-1.19%

Max Drawdown (5Y)

Largest decline over 5 years

—

-33.46%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.30%

—

Current Drawdown

Current decline from peak

-14.28%

-1.01%

-13.27%

Average Drawdown

Average peak-to-trough decline

-21.59%

-29.08%

+7.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.05%

2.80%

+0.25%

Volatility

TRE.L vs. IUSP.L - Volatility Comparison

First Trust Alerian Disruptive Technology Real Estate UCITS ETF (TRE.L) has a higher volatility of 4.97% compared to iShares US Property Yield UCITS ETF (IUSP.L) at 3.83%. This indicates that TRE.L's price experiences larger fluctuations and is considered to be riskier than IUSP.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.LIUSP.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.97%

3.83%

+1.14%

Volatility (6M)

Calculated over the trailing 6-month period

11.13%

9.76%

+1.37%

Volatility (1Y)

Calculated over the trailing 1-year period

13.98%

12.76%

+1.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.60%

18.19%

+0.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.60%

20.28%

-1.68%

Dividends

TRE.L vs. IUSP.L - Dividend Comparison

TRE.L has not paid dividends to shareholders, while IUSP.L's dividend yield for the trailing twelve months is around 2.92%.

PositionTTM20252024202320222021202020192018201720162015
IUSP.L
iShares US Property Yield UCITS ETF		2.92%3.28%3.04%3.22%3.72%2.09%3.43%3.22%4.46%3.32%3.21%2.89%
TRE.L
First Trust Alerian Disruptive Technology Real Estate UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

TRE.L and IUSP.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TRE.L tracks First Trust Alerian Disruptive Technology Real Estate UCITS ETF, while IUSP.L tracks FTSE EPRA Nareit United States TR USD. They also come from different issuers: First Trust and iShares.

Portfolio Optimizer

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