TRE.L vs. XREP.L
TRE.L (First Trust Alerian Disruptive Technology Real Estate UCITS ETF) and XREP.L (Invesco Real Estate S&P US Select Sector UCITS ETF GBP) are both REIT funds - TRE.L tracks the First Trust Alerian Disruptive Technology Real Estate UCITS ETF while XREP.L tracks the S&P Select Sector Capped 20% Real Estate Index. Both are passively managed. Over the past 3 years, TRE.L returned 2.81%/yr vs 8.42%/yr for XREP.L. Their correlation of 0.84 suggests significant overlap in exposure.
Performance
TRE.L vs. XREP.L - Performance Comparison
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Different Trading Currencies
TRE.L is traded in USD, while XREP.L is traded in GBp. To make them comparable, the XREP.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 XREP.L's 11.87% return.
TRE.L
- 1D
- 0.55%
- 1M
- -0.32%
- 6M
- 6.26%
- YTD
- 7.87%
- 1Y
- 10.69%
- 3Y*
- 2.81%
- 5Y*
- —
- 10Y*
- —
XREP.L
- 1D
- 0.39%
- 1M
- -0.09%
- 6M
- 10.85%
- YTD
- 11.87%
- 1Y
- 12.16%
- 3Y*
- 8.42%
- 5Y*
- —
- 10Y*
- —
TRE.L vs. XREP.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% | -12.89% |
XREP.L Invesco Real Estate S&P US Select Sector UCITS ETF GBP | 11.87% | 4.22% | 2.34% | 12.23% | -10.52% |
Correlation
The correlation between TRE.L and XREP.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 | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2022 | 0.84 |
The correlation between TRE.L and XREP.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. XREP.L — Risk / Return Rank
TRE.L
XREP.L
TRE.L vs. XREP.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 Invesco Real Estate S&P US Select Sector UCITS ETF GBP (XREP.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 | XREP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.16 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 1.52 | -0.32 |
| Martin ratioReturn relative to average drawdown | 3.74 | 4.13 | -0.39 |
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Drawdowns
TRE.L vs. XREP.L - Drawdown Comparison
The maximum TRE.L drawdown since its inception was -35.43%, which is greater than XREP.L's maximum drawdown of -26.77%. Use the drawdown chart below to compare losses from any high point for TRE.L and XREP.L.
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Drawdown Indicators
| TRE.L | XREP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.43% | -26.77% | -8.66% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -7.95% | -1.46% |
Max Drawdown (3Y)Largest decline over 3 years | -21.15% | -17.80% | -3.35% |
Current DrawdownCurrent decline from peak | -14.28% | -0.77% | -13.51% |
Average DrawdownAverage peak-to-trough decline | -21.59% | -9.60% | -11.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 2.94% | +0.11% |
Volatility
TRE.L vs. XREP.L - Volatility Comparison
First Trust Alerian Disruptive Technology Real Estate UCITS ETF (TRE.L) has a higher volatility of 4.97% compared to Invesco Real Estate S&P US Select Sector UCITS ETF GBP (XREP.L) at 4.48%. This indicates that TRE.L's price experiences larger fluctuations and is considered to be riskier than XREP.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 | XREP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.97% | 4.48% | +0.49% |
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% | 13.53% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.60% | 18.12% | +0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.60% | 18.12% | +0.48% |
Dividends
TRE.L vs. XREP.L - Dividend Comparison
Neither TRE.L nor XREP.L has paid dividends to shareholders.
Frequently Asked Questions
TRE.L and XREP.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.
TRE.L tracks First Trust Alerian Disruptive Technology Real Estate UCITS ETF, while XREP.L tracks S&P Select Sector Capped 20% Real Estate Index. They also come from different issuers: First Trust and Invesco.
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