UKPH.DE vs. H4ZL.DE
UKPH.DE (iShares UK Property UCITS ETF (EUR Hedged) Acc) and H4ZL.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD) are both REIT funds - UKPH.DE tracks the FTSE EPRA/NAREIT United Kingdom (EUR Hedged) while H4ZL.DE tracks the FTSE EPRA/NAREIT Developed. Both are passively managed. Over the past 3 years, UKPH.DE returned -1.16%/yr vs 3.13%/yr for H4ZL.DE. A 0.59 correlation means they provide meaningful diversification when combined. UKPH.DE charges 0.42%/yr vs 0.24%/yr for H4ZL.DE.
Performance
UKPH.DE vs. H4ZL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, UKPH.DE achieves a -1.89% return, which is significantly lower than H4ZL.DE's 6.32% return.
UKPH.DE
- 1D
- 1.34%
- 1M
- -0.21%
- YTD
- -1.89%
- 6M
- -0.66%
- 1Y
- -1.75%
- 3Y*
- -1.16%
- 5Y*
- —
- 10Y*
- —
H4ZL.DE
- 1D
- -0.02%
- 1M
- -2.45%
- YTD
- 6.32%
- 6M
- 5.97%
- 1Y
- 6.50%
- 3Y*
- 3.13%
- 5Y*
- 0.30%
- 10Y*
- 2.35%
UKPH.DE vs. H4ZL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UKPH.DE iShares UK Property UCITS ETF (EUR Hedged) Acc | -1.89% | 7.71% | -14.33% | 8.55% | -23.13% |
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 6.32% | -4.65% | 2.27% | 6.12% | -11.34% |
Correlation
The correlation between UKPH.DE and H4ZL.DE is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since May 23, 2022 | 0.59 |
The correlation between UKPH.DE and H4ZL.DE has been stable across timeframes, ranging from 0.58 to 0.60 - a consistent structural relationship.
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Return for Risk
UKPH.DE vs. H4ZL.DE — Risk / Return Rank
UKPH.DE
H4ZL.DE
UKPH.DE vs. H4ZL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares UK Property UCITS ETF (EUR Hedged) Acc (UKPH.DE) and HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE). 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.
| UKPH.DE | H4ZL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.11 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | 0.84 | -0.96 |
| Martin ratioReturn relative to average drawdown | -0.29 | 2.48 | -2.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UKPH.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.11 | 0.59 | -0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.02 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.14 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.31 | 0.29 | -0.60 |
Drawdowns
UKPH.DE vs. H4ZL.DE - Drawdown Comparison
The maximum UKPH.DE drawdown since its inception was -36.06%, smaller than the maximum H4ZL.DE drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for UKPH.DE and H4ZL.DE.
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Drawdown Indicators
| UKPH.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.06% | -41.97% | +5.91% |
Max Drawdown (1Y)Largest decline over 1 year | -17.69% | -7.82% | -9.87% |
Max Drawdown (3Y)Largest decline over 3 years | -23.56% | -20.68% | -2.88% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.45% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.97% | — |
Current DrawdownCurrent decline from peak | -26.71% | -13.81% | -12.90% |
Average DrawdownAverage peak-to-trough decline | -24.07% | -10.80% | -13.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.45% | 2.67% | +4.78% |
Volatility
UKPH.DE vs. H4ZL.DE - Volatility Comparison
iShares UK Property UCITS ETF (EUR Hedged) Acc (UKPH.DE) has a higher volatility of 5.86% compared to HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) at 2.88%. This indicates that UKPH.DE's price experiences larger fluctuations and is considered to be riskier than H4ZL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UKPH.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.86% | 2.88% | +2.98% |
Volatility (6M)Calculated over the trailing 6-month period | 15.30% | 8.34% | +6.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.73% | 11.21% | +7.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.48% | 14.69% | +6.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.48% | 16.27% | +5.21% |
UKPH.DE vs. H4ZL.DE - Expense Ratio Comparison
UKPH.DE has a 0.42% expense ratio, which is higher than H4ZL.DE's 0.24% expense ratio.
Dividends
UKPH.DE vs. H4ZL.DE - Dividend Comparison
Neither UKPH.DE nor H4ZL.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 0.00% | 0.00% | 0.00% | 2.63% | 3.62% | 2.19% | 3.13% | 2.95% | 3.29% | 3.08% | 2.96% | 2.67% |
UKPH.DE iShares UK Property UCITS ETF (EUR Hedged) Acc | 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
UKPH.DE and H4ZL.DE have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZL.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZL.DE is cheaper with a 0.24% expense ratio, compared with 0.42% for UKPH.DE.
UKPH.DE tracks FTSE EPRA/NAREIT United Kingdom (EUR Hedged), while H4ZL.DE tracks FTSE EPRA/NAREIT Developed. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.42% for UKPH.DE and 0.24% for H4ZL.DE.
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