UKPH.DE vs. ZPRP.DE
UKPH.DE (iShares UK Property UCITS ETF (EUR Hedged) Acc) and ZPRP.DE (SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF) are both REIT funds - UKPH.DE tracks the FTSE EPRA/NAREIT United Kingdom (EUR Hedged) while ZPRP.DE tracks the FTSE EPRA/NAREIT Developed Europe ex UK. Both are passively managed. Over the past 3 years, UKPH.DE returned -1.16%/yr vs 9.93%/yr for ZPRP.DE. Their correlation of 0.80 suggests significant overlap in exposure. UKPH.DE charges 0.42%/yr vs 0.30%/yr for ZPRP.DE.
Performance
UKPH.DE vs. ZPRP.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 ZPRP.DE's -0.81% return.
UKPH.DE
- 1D
- 1.34%
- 1M
- -0.21%
- YTD
- -1.89%
- 6M
- -0.66%
- 1Y
- -1.75%
- 3Y*
- -1.16%
- 5Y*
- —
- 10Y*
- —
ZPRP.DE
- 1D
- 0.56%
- 1M
- -3.26%
- YTD
- -0.81%
- 6M
- 0.35%
- 1Y
- -2.54%
- 3Y*
- 9.93%
- 5Y*
- -4.33%
- 10Y*
- 0.99%
UKPH.DE vs. ZPRP.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% |
ZPRP.DE SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF | -0.81% | 6.98% | -2.34% | 19.03% | -25.15% |
Correlation
The correlation between UKPH.DE and ZPRP.DE is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since May 23, 2022 | 0.80 |
The correlation between UKPH.DE and ZPRP.DE has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.
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Return for Risk
UKPH.DE vs. ZPRP.DE — Risk / Return Rank
UKPH.DE
ZPRP.DE
UKPH.DE vs. ZPRP.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 SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF (ZPRP.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 | ZPRP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.99 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | -0.15 | +0.03 |
| Martin ratioReturn relative to average drawdown | -0.29 | -0.41 | +0.12 |
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 | ZPRP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.11 | -0.15 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.19 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.31 | 0.08 | -0.39 |
Drawdowns
UKPH.DE vs. ZPRP.DE - Drawdown Comparison
The maximum UKPH.DE drawdown since its inception was -36.06%, smaller than the maximum ZPRP.DE drawdown of -48.69%. Use the drawdown chart below to compare losses from any high point for UKPH.DE and ZPRP.DE.
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Drawdown Indicators
| UKPH.DE | ZPRP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.06% | -48.69% | +12.63% |
Max Drawdown (1Y)Largest decline over 1 year | -17.69% | -15.29% | -2.40% |
Max Drawdown (3Y)Largest decline over 3 years | -23.56% | -19.80% | -3.76% |
Max Drawdown (5Y)Largest decline over 5 years | — | -48.69% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.69% | — |
Current DrawdownCurrent decline from peak | -26.71% | -26.29% | -0.42% |
Average DrawdownAverage peak-to-trough decline | -24.07% | -16.81% | -7.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.45% | 5.75% | +1.70% |
Volatility
UKPH.DE vs. ZPRP.DE - Volatility Comparison
iShares UK Property UCITS ETF (EUR Hedged) Acc (UKPH.DE) has a higher volatility of 5.86% compared to SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF (ZPRP.DE) at 5.34%. This indicates that UKPH.DE's price experiences larger fluctuations and is considered to be riskier than ZPRP.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 | ZPRP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.86% | 5.34% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 15.30% | 13.00% | +2.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.73% | 15.30% | +3.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.48% | 22.12% | -0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.48% | 19.77% | +1.71% |
UKPH.DE vs. ZPRP.DE - Expense Ratio Comparison
UKPH.DE has a 0.42% expense ratio, which is higher than ZPRP.DE's 0.30% expense ratio.
Dividends
UKPH.DE vs. ZPRP.DE - Dividend Comparison
Neither UKPH.DE nor ZPRP.DE has paid dividends to shareholders.
Frequently Asked Questions
UKPH.DE and ZPRP.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPRP.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPRP.DE is cheaper with a 0.30% expense ratio, compared with 0.42% for UKPH.DE.
UKPH.DE tracks FTSE EPRA/NAREIT United Kingdom (EUR Hedged), while ZPRP.DE tracks FTSE EPRA/NAREIT Developed Europe ex UK. They also come from different issuers: iShares and State Street. Their fees differ too: 0.42% for UKPH.DE and 0.30% for ZPRP.DE.
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