UDVD.L vs. GBRE.L

Last updated Jun 5, 2026

UDVD.L (SPDR S&P US Dividend Aristocrats UCITS ETF Dis) and GBRE.L (SPDR® Dow Jones Global Real Estate UCITS ETF) are both exchange-traded funds - UDVD.L is a Large Cap Blend Equities fund tracking the S&P High Yield Dividend Aristocrats Index, while GBRE.L is a REIT fund tracking the FTSE EPRA Nareit Global TR USD. Both are passively managed. Over the past 10 years, UDVD.L returned 8.82%/yr vs 3.05%/yr for GBRE.L. A 0.66 correlation means they provide meaningful diversification when combined. UDVD.L charges 0.35%/yr vs 0.40%/yr for GBRE.L.

Performance

UDVD.L vs. GBRE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P US Dividend Aristocrats UCITS ETF Dis (UDVD.L) and SPDR® Dow Jones Global Real Estate UCITS ETF (GBRE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

UDVD.L is traded in USD, while GBRE.L is traded in GBP. To make them comparable, the GBRE.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, UDVD.L achieves a 6.99% return, which is significantly higher than GBRE.L's 5.93% return. Over the past 10 years, UDVD.L has outperformed GBRE.L with an annualized return of 8.82%, while GBRE.L has yielded a comparatively lower 3.05% annualized return.

UDVD.L

• 1D: 0.11%
• 1M: 0.79%
• YTD: 6.99%
• 6M: 7.81%
• 1Y: 12.89%
• 3Y*: 9.74%
• 5Y*: 5.66%
• 10Y*: 8.82%

GBRE.L

• 1D: 0.34%
• 1M: -0.92%
• YTD: 5.93%
• 6M: 5.72%
• 1Y: 10.08%
• 3Y*: 8.08%
• 5Y*: 1.00%
• 10Y*: 3.05%

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

UDVD.L vs. GBRE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UDVD.L SPDR S&P US Dividend Aristocrats UCITS ETF Dis	6.99%	8.57%	7.64%	2.06%	-0.33%	25.04%	0.77%	22.66%	-3.94%	15.71%
GBRE.L SPDR® Dow Jones Global Real Estate UCITS ETF	5.93%	8.98%	-0.73%	10.80%	-25.24%	30.88%	-11.18%	21.48%	-5.79%	9.56%

Correlation

The correlation between UDVD.L and GBRE.L is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Dec 4, 2012	0.66

The correlation between UDVD.L and GBRE.L shifts across timeframes, from 0.59 (1 year) to 0.70 (5 years), reflecting how their relationship changes across market environments.

UDVD.L vs. GBRE.L - Sectors Allocation Comparison

Sectors	UDVD.L	GBRE.L
Industrials	17.5%	0.0%
Consumer Defensive	17.0%	-
Utilities	14.8%	0.0%
Financial Services	11.5%	0.0%
Technology	8.9%	-
Basic Materials	6.4%	-
Healthcare	6.2%	-
Consumer Cyclical	5.2%	-
Real Estate	4.6%	99.9%
Energy	4.5%	-
Communication Services	3.5%	-

Return for Risk

UDVD.L vs. GBRE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UDVD.L

UDVD.L Risk / Return Rank: 36
UDVD.L Sharpe Ratio Rank: 37
UDVD.L Sortino Ratio Rank: 39
UDVD.L Omega Ratio Rank: 35
UDVD.L Calmar Ratio Rank: 37
UDVD.L Martin Ratio Rank: 32

GBRE.L

GBRE.L Risk / Return Rank: 28
GBRE.L Sharpe Ratio Rank: 28
GBRE.L Sortino Ratio Rank: 27
GBRE.L Omega Ratio Rank: 26
GBRE.L Calmar Ratio Rank: 27
GBRE.L Martin Ratio Rank: 30

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.

UDVD.L vs. GBRE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P US Dividend Aristocrats UCITS ETF Dis (UDVD.L) and SPDR® Dow Jones Global Real Estate UCITS ETF (GBRE.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.

	UDVD.L	GBRE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.29	0.85	+0.44
Sortino ratio: Return per unit of downside risk	1.96	1.28	+0.67
Omega ratio: Gain probability vs. loss probability	1.23	1.15	+0.08
Calmar ratio: Return relative to maximum drawdown	1.82	0.98	+0.84
Martin ratio: Return relative to average drawdown	4.63	3.70	+0.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UDVD.L vs. GBRE.L - Sharpe Ratio Comparison

The current UDVD.L Sharpe Ratio is 1.29, which is higher than the GBRE.L Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of UDVD.L and GBRE.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.

Sharpe Ratios by Period

	UDVD.L	GBRE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	0.85	+0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.06	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.17	+0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.26	+0.45

Drawdowns

UDVD.L vs. GBRE.L - Drawdown Comparison

The maximum UDVD.L drawdown since its inception was -36.12%, smaller than the maximum GBRE.L drawdown of -41.94%. Use the drawdown chart below to compare losses from any high point for UDVD.L and GBRE.L.

Drawdown Indicators

	UDVD.L	GBRE.L	Difference
Max Drawdown Largest peak-to-trough decline	-36.12%	-41.94%	+5.82%
Max Drawdown (1Y) Largest decline over 1 year	-7.06%	-10.23%	+3.17%
Max Drawdown (3Y) Largest decline over 3 years	-15.26%	-18.00%	+2.74%
Max Drawdown (5Y) Largest decline over 5 years	-15.26%	-33.67%	+18.41%
Max Drawdown (10Y) Largest decline over 10 years	-36.12%	-41.94%	+5.82%
Current Drawdown Current decline from peak	-3.61%	-5.21%	+1.60%
Average Drawdown Average peak-to-trough decline	-3.44%	-10.08%	+6.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.72%	+0.06%

Volatility

UDVD.L vs. GBRE.L - Volatility Comparison

The current volatility for SPDR S&P US Dividend Aristocrats UCITS ETF Dis (UDVD.L) is 2.64%, while SPDR® Dow Jones Global Real Estate UCITS ETF (GBRE.L) has a volatility of 3.80%. This indicates that UDVD.L experiences smaller price fluctuations and is considered to be less risky than GBRE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UDVD.L	GBRE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	3.80%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	7.08%	8.94%	-1.86%
Volatility (1Y) Calculated over the trailing 1-year period	9.92%	11.81%	-1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	16.43%	-2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.70%	17.44%	-1.74%

UDVD.L vs. GBRE.L - Expense Ratio Comparison

UDVD.L has a 0.35% expense ratio, which is lower than GBRE.L's 0.40% expense ratio.

Dividends

UDVD.L vs. GBRE.L - Dividend Comparison

UDVD.L's dividend yield for the trailing twelve months is around 2.05%, more than GBRE.L's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GBRE.L SPDR® Dow Jones Global Real Estate UCITS ETF	0.75%	1.45%	2.73%	2.66%	2.84%	1.79%	2.76%	3.25%	4.30%	3.99%	2.40%	2.09%
UDVD.L SPDR S&P US Dividend Aristocrats UCITS ETF Dis	2.05%	2.17%	2.03%	2.24%	2.13%	2.15%	2.36%	2.01%	2.27%	1.78%	1.83%	2.06%

Frequently Asked Questions

Can I hold both UDVD.L and GBRE.L in my portfolio?

UDVD.L and GBRE.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UDVD.L or GBRE.L?

On fees, UDVD.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UDVD.L or GBRE.L?

UDVD.L is cheaper with a 0.35% expense ratio, compared with 0.40% for GBRE.L.

What is the main difference between UDVD.L and GBRE.L?

UDVD.L is categorized as Large Cap Blend Equities, while GBRE.L is REIT. UDVD.L tracks S&P High Yield Dividend Aristocrats Index, while GBRE.L tracks FTSE EPRA Nareit Global TR USD. Their fees differ too: 0.35% for UDVD.L and 0.40% for GBRE.L.