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TRET.L vs. XRES.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TRET.L vs. XRES.L

Last updated Jun 5, 2026

TRET.L (VanEck Global Real Estate UCITS ETF) and XRES.L (Invesco Real Estate S&P US Select Sector UCITS ETF Acc) are both REIT funds - TRET.L tracks the GPR Global 100 Index while XRES.L tracks the S&P Select Sector Capped 20% Real Estate Index. Both are passively managed. Over the past 5 years, TRET.L returned 2.34%/yr vs 2.78%/yr for XRES.L. Their correlation of 0.90 suggests significant overlap in exposure. TRET.L charges 0.25%/yr vs 0.14%/yr for XRES.L.

Performance

TRET.L vs. XRES.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Global Real Estate UCITS ETF (TRET.L) and Invesco Real Estate S&P US Select Sector UCITS ETF Acc (XRES.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TRET.L achieves a 4.02% return, which is significantly lower than XRES.L's 9.04% return.

TRET.L

1D
0.22%
1M
-2.23%
YTD
4.02%
6M
3.83%
1Y
10.68%
3Y*
10.83%
5Y*
2.34%
10Y*
—

XRES.L

1D
-0.02%
1M
-0.28%
YTD
9.04%
6M
8.82%
1Y
9.37%
3Y*
9.53%
5Y*
2.78%
10Y*
6.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TRET.L vs. XRES.L - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
TRET.L
VanEck Global Real Estate UCITS ETF		4.02%14.43%1.05%13.94%-25.68%29.73%-6.91%10.01%
XRES.L
Invesco Real Estate S&P US Select Sector UCITS ETF Acc		9.04%3.99%2.44%12.71%-25.97%46.91%-3.45%21.48%

Correlation

The correlation between TRET.L and XRES.L is 0.88, 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

0.88

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

0.90

Correlation (5Y)
Calculated over the trailing 5-year period

0.91

Correlation (All Time)
Calculated using the full available price history since Jan 21, 2019

0.90

The correlation between TRET.L and XRES.L has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

TRET.L vs. XRES.L - Sectors Allocation Comparison

Sectors
TRET.L
XRES.L

Real Estate

99.9%
100.0%

Consumer Cyclical

0.1%

-

Financial Services

0.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

-

-

Real Estate

TRET.L
99.9%
XRES.L
100.0%

Consumer Cyclical

TRET.L
0.1%
XRES.L

-

Financial Services

TRET.L
0.0%
XRES.L

-

Basic Materials

TRET.L

-

XRES.L

-

Communication Services

TRET.L

-

XRES.L

-

Consumer Defensive

TRET.L

-

XRES.L

-

Energy

TRET.L

-

XRES.L

-

Healthcare

TRET.L

-

XRES.L

-

Industrials

TRET.L

-

XRES.L

-

Technology

TRET.L

-

XRES.L

-

Utilities

TRET.L

-

XRES.L

-

Compare stocks, funds, or ETFs

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VanEck Global Real Estate UCITS ETF

Invesco Real Estate S&P US Select Sector UCITS ETF Acc

Often compared with TRET.L:
TRET.L vs. DPYE.LTRET.L vs. BRNT.LTRET.L vs. DTRE.LTRET.L vs. QOZ.AXTRET.L vs. HPRD.LTRET.L vs. WNEW.LTRET.L vs. HPRO.L
Often compared with XRES.L:
XRES.L vs. XLREXRES.L vs. VNQXRES.L vs. VWRA.LXRES.L vs. IUSP.LXRES.L vs. REMXRES.L vs. GBRE.LXRES.L vs. FREL

Return for Risk

TRET.L vs. XRES.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TRET.L
TRET.L Risk / Return Rank: 2424
Overall Rank
TRET.L Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
TRET.L Sortino Ratio Rank: 2525
Sortino Ratio Rank
TRET.L Omega Ratio Rank: 2424
Omega Ratio Rank
TRET.L Calmar Ratio Rank: 2323
Calmar Ratio Rank
TRET.L Martin Ratio Rank: 2626
Martin Ratio Rank
XRES.L
XRES.L Risk / Return Rank: 2323
Overall Rank
XRES.L Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
XRES.L Sortino Ratio Rank: 2121
Sortino Ratio Rank
XRES.L Omega Ratio Rank: 2020
Omega Ratio Rank
XRES.L Calmar Ratio Rank: 2626
Calmar Ratio Rank
XRES.L Martin Ratio Rank: 2525
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.

TRET.L vs. XRES.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Global Real Estate UCITS ETF (TRET.L) and Invesco Real Estate S&P US Select Sector UCITS ETF Acc (XRES.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.

TRET.LXRES.LDifference
Sharpe ratioReturn per unit of total volatility
0.86
0.71

+0.16

Sortino ratioReturn per unit of downside risk
1.31
1.08

+0.23

Omega ratioGain probability vs. loss probability

1.15

1.12

+0.03

Calmar ratioReturn relative to maximum drawdown

1.01

1.23

-0.22

Martin ratioReturn relative to average drawdown

3.55

3.26

+0.29

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRET.L vs. XRES.L - Sharpe Ratio Comparison

The current TRET.L Sharpe Ratio is 0.86, which is comparable to the XRES.L Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of TRET.L and XRES.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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Sharpe Ratios by Period

TRET.LXRES.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.86

0.71

+0.16

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.14

0.15

-0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.34

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.22

0.39

-0.17

Drawdowns

TRET.L vs. XRES.L - Drawdown Comparison

The maximum TRET.L drawdown since its inception was -42.26%, which is greater than XRES.L's maximum drawdown of -37.84%. Use the drawdown chart below to compare losses from any high point for TRET.L and XRES.L.

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Drawdown Indicators

TRET.LXRES.LDifference

Max Drawdown

Largest peak-to-trough decline

-42.26%

-37.84%

-4.42%

Max Drawdown (1Y)

Largest decline over 1 year

-10.49%

-7.56%

-2.93%

Max Drawdown (3Y)

Largest decline over 3 years

-16.92%

-17.95%

+1.03%

Max Drawdown (5Y)

Largest decline over 5 years

-33.35%

-34.70%

+1.35%

Max Drawdown (10Y)

Largest decline over 10 years

—

-37.84%

—

Current Drawdown

Current decline from peak

-5.89%

-3.19%

-2.70%

Average Drawdown

Average peak-to-trough decline

-11.96%

-10.17%

-1.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.00%

2.87%

+0.13%

Volatility

TRET.L vs. XRES.L - Volatility Comparison

The current volatility for VanEck Global Real Estate UCITS ETF (TRET.L) is 3.91%, while Invesco Real Estate S&P US Select Sector UCITS ETF Acc (XRES.L) has a volatility of 4.47%. This indicates that TRET.L experiences smaller price fluctuations and is considered to be less risky than XRES.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TRET.LXRES.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.91%

4.47%

-0.56%

Volatility (6M)

Calculated over the trailing 6-month period

9.60%

9.68%

-0.08%

Volatility (1Y)

Calculated over the trailing 1-year period

12.33%

13.25%

-0.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.82%

18.47%

-1.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.18%

18.89%

+0.29%

TRET.L vs. XRES.L - Expense Ratio Comparison

TRET.L has a 0.25% expense ratio, which is higher than XRES.L's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

TRET.L vs. XRES.L - Dividend Comparison

TRET.L's dividend yield for the trailing twelve months is around 3.49%, while XRES.L has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019
TRET.L
VanEck Global Real Estate UCITS ETF		3.49%3.54%3.56%3.54%4.56%1.86%4.18%0.62%
XRES.L
Invesco Real Estate S&P US Select Sector UCITS ETF Acc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

TRET.L and XRES.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XRES.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XRES.L is cheaper with a 0.14% expense ratio, compared with 0.25% for TRET.L.

TRET.L tracks GPR Global 100 Index, while XRES.L tracks S&P Select Sector Capped 20% Real Estate Index. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.25% for TRET.L and 0.14% for XRES.L.

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