TRE.L vs. IWDP.L

Last updated Jul 16, 2026

TRE.L (First Trust Alerian Disruptive Technology Real Estate UCITS ETF) and IWDP.L (iShares Developed Markets Property Yield UCITS ETF USD (Dist) GBP) are both REIT funds - TRE.L tracks the First Trust Alerian Disruptive Technology Real Estate UCITS ETF while IWDP.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 8.32%/yr for IWDP.L. Their correlation of 0.83 suggests significant overlap in exposure.

Performance

TRE.L vs. IWDP.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 Developed Markets Property Yield UCITS ETF USD (Dist) GBP (IWDP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TRE.L is traded in USD, while IWDP.L is traded in GBp. To make them comparable, the IWDP.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 IWDP.L's 10.27% return.

TRE.L

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

IWDP.L

• 1D: 0.62%
• 1M: 0.49%
• 6M: 8.44%
• YTD: 10.27%
• 1Y: 13.93%
• 3Y*: 8.32%
• 5Y*: 0.82%
• 10Y*: 3.07%

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

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

	2026 (YTD)	2025	2024	2023	2022
TRE.L First Trust Alerian Disruptive Technology Real Estate UCITS ETF	7.87%	7.74%	-10.98%	13.15%	-25.64%
IWDP.L iShares Developed Markets Property Yield UCITS ETF USD (Dist) GBP	10.27%	9.39%	-0.46%	9.48%	-21.86%

Correlation

The correlation between TRE.L and IWDP.L is 0.82, 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	0.82
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 IWDP.L has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.

Return for Risk

TRE.L vs. IWDP.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: 28
TRE.L Sharpe Ratio Rank: 27
TRE.L Sortino Ratio Rank: 28
TRE.L Omega Ratio Rank: 24
TRE.L Calmar Ratio Rank: 29
TRE.L Martin Ratio Rank: 31

IWDP.L

IWDP.L Risk / Return Rank: 36
IWDP.L Sharpe Ratio Rank: 38
IWDP.L Sortino Ratio Rank: 39
IWDP.L Omega Ratio Rank: 35
IWDP.L Calmar Ratio Rank: 34
IWDP.L Martin Ratio Rank: 36

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. IWDP.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 Developed Markets Property Yield UCITS ETF USD (Dist) GBP (IWDP.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	IWDP.L	Difference
Sharpe ratio: Return per unit of total volatility	0.81	1.19	-0.38
Sortino ratio: Return per unit of downside risk	1.29	1.76	-0.47
Omega ratio: Gain probability vs. loss probability	1.14	1.20	-0.06
Calmar ratio: Return relative to maximum drawdown	1.21	1.36	-0.16
Martin ratio: Return relative to average drawdown	3.74	4.59	-0.85

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

The current TRE.L Sharpe Ratio is 0.81, which is lower than the IWDP.L Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of TRE.L and IWDP.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

TRE.L vs. IWDP.L - Drawdown Comparison

The maximum TRE.L drawdown since its inception was -35.43%, smaller than the maximum IWDP.L drawdown of -70.11%. Use the drawdown chart below to compare losses from any high point for TRE.L and IWDP.L.

Drawdown Indicators

	TRE.L	IWDP.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.43%	-70.11%	+34.68%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-10.16%	+0.75%
Max Drawdown (3Y) Largest decline over 3 years	-21.15%	-17.59%	-3.56%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.62%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.51%	—
Current Drawdown Current decline from peak	-14.28%	-0.70%	-13.58%
Average Drawdown Average peak-to-trough decline	-21.59%	-14.55%	-7.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	3.03%	+0.02%

Volatility

TRE.L vs. IWDP.L - Volatility Comparison

First Trust Alerian Disruptive Technology Real Estate UCITS ETF (TRE.L) has a higher volatility of 4.97% compared to iShares Developed Markets Property Yield UCITS ETF USD (Dist) GBP (IWDP.L) at 3.48%. This indicates that TRE.L's price experiences larger fluctuations and is considered to be riskier than IWDP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRE.L	IWDP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.97%	3.48%	+1.49%
Volatility (6M) Calculated over the trailing 6-month period	11.13%	9.20%	+1.93%
Volatility (1Y) Calculated over the trailing 1-year period	13.98%	11.64%	+2.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.60%	15.94%	+2.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.60%	16.97%	+1.63%

Dividends

TRE.L vs. IWDP.L - Dividend Comparison

TRE.L has not paid dividends to shareholders, while IWDP.L's dividend yield for the trailing twelve months is around 2.95%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWDP.L iShares Developed Markets Property Yield UCITS ETF USD (Dist) GBP	2.95%	3.14%	3.18%	3.14%	3.56%	2.17%	3.11%	3.03%	3.82%	3.05%	2.96%	2.93%
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

Can I hold both TRE.L and IWDP.L in my portfolio?

TRE.L and IWDP.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between TRE.L and IWDP.L?

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