UKRE.L vs. TRET.DE
UKRE.L (iShares MSCI Target UK Real Estate UCITS ETF) and TRET.DE (VanEck Global Real Estate UCITS ETF) are both REIT funds - UKRE.L tracks the MSCI UK IMI Liquid Real Estate Index while TRET.DE tracks the GPR Global 100. Both are passively managed. Over the past 5 years, UKRE.L returned -7.09%/yr vs 3.41%/yr for TRET.DE. A 0.51 correlation means they provide meaningful diversification when combined. UKRE.L charges 0.40%/yr vs 0.25%/yr for TRET.DE.
Performance
UKRE.L vs. TRET.DE - Performance Comparison
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Different Trading Currencies
UKRE.L is traded in GBp, while TRET.DE is traded in EUR. To make them comparable, the TRET.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UKRE.L achieves a -3.77% return, which is significantly lower than TRET.DE's 4.48% 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%
TRET.DE
- 1D
- 0.32%
- 1M
- -1.53%
- YTD
- 4.48%
- 6M
- 3.12%
- 1Y
- 11.72%
- 3Y*
- 8.00%
- 5Y*
- 3.41%
- 10Y*
- —
UKRE.L vs. TRET.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | -1.61% |
TRET.DE VanEck Global Real Estate UCITS ETF | 4.48% | 7.17% | 2.20% | 7.69% | -16.97% | 30.83% | -10.42% | 15.79% | -8.07% |
Correlation
The correlation between UKRE.L and TRET.DE is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2018 | 0.51 |
The correlation between UKRE.L and TRET.DE shifts across timeframes, from 0.41 (1 year) to 0.51 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
UKRE.L vs. TRET.DE — Risk / Return Rank
UKRE.L
TRET.DE
UKRE.L vs. TRET.DE - 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 VanEck Global Real Estate UCITS ETF (TRET.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.
| UKRE.L | TRET.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.55 | ||
| Sortino ratioReturn per unit of downside risk | -2.22 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.18 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 1.26 | -1.83 |
| Martin ratioReturn relative to average drawdown | -1.09 | 4.08 | -5.16 |
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
| UKRE.L | TRET.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.54 | 1.01 | -1.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.50 | 0.23 | -0.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.23 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.25 | 0.19 | -0.44 |
Drawdowns
UKRE.L vs. TRET.DE - Drawdown Comparison
The maximum UKRE.L drawdown since its inception was -40.08%, which is greater than TRET.DE's maximum drawdown of -36.16%. Use the drawdown chart below to compare losses from any high point for UKRE.L and TRET.DE.
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Drawdown Indicators
| UKRE.L | TRET.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.08% | -36.16% | -3.92% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -9.24% | -2.68% |
Max Drawdown (3Y)Largest decline over 3 years | -21.04% | -16.45% | -4.59% |
Max Drawdown (5Y)Largest decline over 5 years | -40.08% | -26.93% | -13.15% |
Max Drawdown (10Y)Largest decline over 10 years | -40.08% | — | — |
Current DrawdownCurrent decline from peak | -37.81% | -5.67% | -32.14% |
Average DrawdownAverage peak-to-trough decline | -16.46% | -10.44% | -6.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.18% | 2.87% | +3.31% |
Volatility
UKRE.L vs. TRET.DE - Volatility Comparison
iShares MSCI Target UK Real Estate UCITS ETF (UKRE.L) has a higher volatility of 3.85% compared to VanEck Global Real Estate UCITS ETF (TRET.DE) at 3.11%. This indicates that UKRE.L's price experiences larger fluctuations and is considered to be riskier than TRET.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UKRE.L | TRET.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.85% | 3.11% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 9.92% | 9.46% | +0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.48% | 11.51% | +0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.06% | 14.92% | -0.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.63% | 17.19% | -3.56% |
UKRE.L vs. TRET.DE - Expense Ratio Comparison
UKRE.L has a 0.40% expense ratio, which is higher than TRET.DE's 0.25% expense ratio.
Dividends
UKRE.L vs. TRET.DE - Dividend Comparison
UKRE.L's dividend yield for the trailing twelve months is around 0.07%, less than TRET.DE's 3.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TRET.DE VanEck Global Real Estate UCITS ETF | 3.48% | 3.66% | 3.44% | 3.66% | 4.69% | 1.78% | 4.45% | 3.31% | 0.00% | 0.00% | 0.00% | 0.00% |
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
UKRE.L and TRET.DE have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRET.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRET.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for UKRE.L.
UKRE.L tracks MSCI UK IMI Liquid Real Estate Index, while TRET.DE tracks GPR Global 100. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.40% for UKRE.L and 0.25% for TRET.DE.
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