UKRE.L vs. IASP.L

Last updated Jun 5, 2026

UKRE.L (iShares MSCI Target UK Real Estate UCITS ETF) and IASP.L (iShares Asia Property Yield UCITS ETF) are both REIT funds from iShares - UKRE.L tracks the MSCI UK IMI Liquid Real Estate Index while IASP.L tracks the FTSE EPRA Nareit Developed Asia TR USD. Both are passively managed. Over the past 10 years, UKRE.L returned -3.16%/yr vs -0.92%/yr for IASP.L. At a 0.33 correlation, their price movements are largely independent. UKRE.L charges 0.40%/yr vs 0.59%/yr for IASP.L.

Performance

UKRE.L vs. IASP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Target UK Real Estate UCITS ETF (UKRE.L) and iShares Asia Property Yield UCITS ETF (IASP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UKRE.L achieves a -3.77% return, which is significantly higher than IASP.L's -7.66% return. Over the past 10 years, UKRE.L has underperformed IASP.L with an annualized return of -3.16%, while IASP.L has yielded a comparatively higher -0.92% annualized return.

UKRE.L

• 1D: 0.51%
• 1M: 1.52%
• YTD: -3.77%
• 6M: -2.98%
• 1Y: -6.72%
• 3Y*: -5.47%
• 5Y*: -7.09%
• 10Y*: -3.16%

IASP.L

• 1D: 0.16%
• 1M: -6.82%
• YTD: -7.66%
• 6M: -7.06%
• 1Y: 3.44%
• 3Y*: -2.88%
• 5Y*: -4.60%
• 10Y*: -0.92%

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

UKRE.L vs. IASP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UKRE.L iShares MSCI Target UK Real Estate UCITS ETF	-3.77%	-0.98%	-13.13%	0.85%	-25.50%	20.00%	-11.74%	19.08%	-9.84%	5.57%
IASP.L iShares Asia Property Yield UCITS ETF	-7.66%	17.20%	-11.78%	-10.90%	-4.90%	2.59%	-14.59%	8.99%	0.23%	4.41%

Correlation

The correlation between UKRE.L and IASP.L is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Mar 23, 2015	0.33

UKRE.L vs. IASP.L - Sectors Allocation Comparison

Sectors	UKRE.L	IASP.L
Real Estate	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

UKRE.L vs. IASP.L — Risk / Return Rank

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

UKRE.L

UKRE.L Risk / Return Rank: 4
UKRE.L Sharpe Ratio Rank: 5
UKRE.L Sortino Ratio Rank: 4
UKRE.L Omega Ratio Rank: 4
UKRE.L Calmar Ratio Rank: 4
UKRE.L Martin Ratio Rank: 4

IASP.L

IASP.L Risk / Return Rank: 13
IASP.L Sharpe Ratio Rank: 14
IASP.L Sortino Ratio Rank: 13
IASP.L Omega Ratio Rank: 13
IASP.L Calmar Ratio Rank: 12
IASP.L Martin Ratio Rank: 13

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.

UKRE.L vs. IASP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Target UK Real Estate UCITS ETF (UKRE.L) and iShares Asia Property Yield UCITS ETF (IASP.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.

	UKRE.L	IASP.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	0.30	-0.83
Sortino ratio: Return per unit of downside risk	-0.67	0.49	-1.16
Omega ratio: Gain probability vs. loss probability	0.92	1.06	-0.14
Calmar ratio: Return relative to maximum drawdown	-0.56	0.24	-0.80
Martin ratio: Return relative to average drawdown	-1.09	0.73	-1.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UKRE.L vs. IASP.L - Sharpe Ratio Comparison

The current UKRE.L Sharpe Ratio is -0.54, which is lower than the IASP.L Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of UKRE.L and IASP.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

	UKRE.L	IASP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.54	0.30	-0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.50	-0.39	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.23	-0.06	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	-0.25	0.05	-0.29

Drawdowns

UKRE.L vs. IASP.L - Drawdown Comparison

The maximum UKRE.L drawdown since its inception was -40.08%, smaller than the maximum IASP.L drawdown of -57.81%. Use the drawdown chart below to compare losses from any high point for UKRE.L and IASP.L.

Drawdown Indicators

	UKRE.L	IASP.L	Difference
Max Drawdown Largest peak-to-trough decline	-40.08%	-57.81%	+17.73%
Max Drawdown (1Y) Largest decline over 1 year	-11.92%	-14.22%	+2.30%
Max Drawdown (3Y) Largest decline over 3 years	-21.04%	-18.10%	-2.94%
Max Drawdown (5Y) Largest decline over 5 years	-40.08%	-30.75%	-9.33%
Max Drawdown (10Y) Largest decline over 10 years	-40.08%	-41.88%	+1.80%
Current Drawdown Current decline from peak	-37.81%	-35.67%	-2.14%
Average Drawdown Average peak-to-trough decline	-16.46%	-19.17%	+2.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.18%	4.69%	+1.49%

Volatility

UKRE.L vs. IASP.L - Volatility Comparison

iShares MSCI Target UK Real Estate UCITS ETF (UKRE.L) and iShares Asia Property Yield UCITS ETF (IASP.L) have volatilities of 3.85% and 3.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UKRE.L	IASP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	3.79%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	9.92%	8.92%	+1.00%
Volatility (1Y) Calculated over the trailing 1-year period	12.48%	11.50%	+0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.06%	11.82%	+2.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.63%	14.52%	-0.89%

UKRE.L vs. IASP.L - Expense Ratio Comparison

UKRE.L has a 0.40% expense ratio, which is lower than IASP.L's 0.59% expense ratio.

Dividends

UKRE.L vs. IASP.L - Dividend Comparison

UKRE.L's dividend yield for the trailing twelve months is around 0.07%, more than IASP.L's 0.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IASP.L iShares Asia Property Yield UCITS ETF	0.04%	0.03%	0.04%	0.04%	0.04%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
UKRE.L iShares MSCI Target UK Real Estate UCITS ETF	0.07%	0.07%	0.08%	0.05%	0.02%	0.01%	0.01%	0.02%	0.03%	0.02%	0.02%	0.01%

Frequently Asked Questions

Can I hold both UKRE.L and IASP.L in my portfolio?

UKRE.L and IASP.L have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UKRE.L or IASP.L?

On fees, UKRE.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UKRE.L or IASP.L?

UKRE.L is cheaper with a 0.40% expense ratio, compared with 0.59% for IASP.L.

What is the main difference between UKRE.L and IASP.L?

UKRE.L tracks MSCI UK IMI Liquid Real Estate Index, while IASP.L tracks FTSE EPRA Nareit Developed Asia TR USD. Their fees differ too: 0.40% for UKRE.L and 0.59% for IASP.L.