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UKRE.L vs. XDER.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UKRE.L vs. XDER.L

Last updated Jun 5, 2026

UKRE.L (iShares MSCI Target UK Real Estate UCITS ETF) and XDER.L (Xtrackers FTSE EPRA/NAREIT Developed Europe Real Estate UCITS ETF 1C) are both REIT funds - UKRE.L tracks the MSCI UK IMI Liquid Real Estate Index while XDER.L tracks the FTSE EPRA Nareit Developed Europe TR EUR. Both are passively managed. Over the past 10 years, UKRE.L returned -3.16%/yr vs 0.79%/yr for XDER.L. A 0.76 correlation means they provide meaningful diversification when combined. UKRE.L charges 0.40%/yr vs 0.33%/yr for XDER.L.

Performance

UKRE.L vs. XDER.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 Xtrackers FTSE EPRA/NAREIT Developed Europe Real Estate UCITS ETF 1C (XDER.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, UKRE.L achieves a -3.77% return, which is significantly lower than XDER.L's -1.79% return. Over the past 10 years, UKRE.L has underperformed XDER.L with an annualized return of -3.16%, while XDER.L has yielded a comparatively higher 0.79% 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%

XDER.L

1D
0.28%
1M
-0.05%
YTD
-1.79%
6M
-0.97%
1Y
-0.33%
3Y*
6.56%
5Y*
-4.50%
10Y*
0.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
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%
XDER.L
Xtrackers FTSE EPRA/NAREIT Developed Europe Real Estate UCITS ETF 1C		-1.79%11.17%-7.99%13.38%-32.92%10.39%-5.98%22.10%-7.09%16.56%

Correlation

The correlation between UKRE.L and XDER.L is 0.70, 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

0.70

Correlation (3Y)
Calculated over the trailing 3-year period

0.80

Correlation (5Y)
Calculated over the trailing 5-year period

0.79

Correlation (10Y)
Calculated over the trailing 10-year period

0.76

Correlation (All Time)
Calculated using the full available price history since Mar 23, 2015

0.76

The correlation between UKRE.L and XDER.L shifts across timeframes, from 0.70 (1 year) to 0.80 (3 years), reflecting how their relationship changes across market environments.

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

Sectors
UKRE.L
XDER.L

Real Estate

100.0%
97.7%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

1.0%

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

0.5%

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

-

-

Real Estate

UKRE.L
100.0%
XDER.L
97.7%

Basic Materials

UKRE.L

-

XDER.L

-

Communication Services

UKRE.L

-

XDER.L

-

Consumer Cyclical

UKRE.L

-

XDER.L
1.0%

Consumer Defensive

UKRE.L

-

XDER.L

-

Energy

UKRE.L

-

XDER.L

-

Financial Services

UKRE.L

-

XDER.L
0.5%

Healthcare

UKRE.L

-

XDER.L

-

Industrials

UKRE.L

-

XDER.L

-

Technology

UKRE.L

-

XDER.L

-

Utilities

UKRE.L

-

XDER.L

-

Compare stocks, funds, or ETFs

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iShares MSCI Target UK Real Estate UCITS ETF

Xtrackers FTSE EPRA/NAREIT Developed Europe Real Estate UCITS ETF 1C

Often compared with UKRE.L:
UKRE.L vs. IUKP.LUKRE.L vs. HPRD.LUKRE.L vs. HPRO.LUKRE.L vs. HEAL.LUKRE.L vs. VNQUKRE.L vs. VNQIUKRE.L vs. VUSA.L
Often compared with XDER.L:
XDER.L vs. VNQXDER.L vs. IPRP.LXDER.L vs. VGSIXXDER.L vs. IDWP.LXDER.L vs. AREG.LXDER.L vs. IWDP.LXDER.L vs. HPRD.L

Return for Risk

UKRE.L vs. XDER.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: 44
Overall Rank
UKRE.L Sharpe Ratio Rank: 55
Sharpe Ratio Rank
UKRE.L Sortino Ratio Rank: 44
Sortino Ratio Rank
UKRE.L Omega Ratio Rank: 44
Omega Ratio Rank
UKRE.L Calmar Ratio Rank: 44
Calmar Ratio Rank
UKRE.L Martin Ratio Rank: 44
Martin Ratio Rank
XDER.L
XDER.L Risk / Return Rank: 99
Overall Rank
XDER.L Sharpe Ratio Rank: 99
Sharpe Ratio Rank
XDER.L Sortino Ratio Rank: 99
Sortino Ratio Rank
XDER.L Omega Ratio Rank: 99
Omega Ratio Rank
XDER.L Calmar Ratio Rank: 99
Calmar Ratio Rank
XDER.L Martin Ratio Rank: 99
Martin Ratio Rank
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. XDER.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 Xtrackers FTSE EPRA/NAREIT Developed Europe Real Estate UCITS ETF 1C (XDER.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.LXDER.LDifference
Sharpe ratioReturn per unit of total volatility
-0.54
-0.02

-0.52

Sortino ratioReturn per unit of downside risk
-0.67
0.08

-0.75

Omega ratioGain probability vs. loss probability

0.92

1.01

-0.09

Calmar ratioReturn relative to maximum drawdown

-0.56

-0.02

-0.54

Martin ratioReturn relative to average drawdown

-1.09

-0.05

-1.03

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. XDER.L - Sharpe Ratio Comparison

The current UKRE.L Sharpe Ratio is -0.54, which is lower than the XDER.L Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of UKRE.L and XDER.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.

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Sharpe Ratios by Period

UKRE.LXDER.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.54

-0.02

-0.52

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.50

-0.21

-0.29

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.23

0.04

-0.28

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.25

0.31

-0.55

Drawdowns

UKRE.L vs. XDER.L - Drawdown Comparison

The maximum UKRE.L drawdown since its inception was -40.08%, smaller than the maximum XDER.L drawdown of -45.20%. Use the drawdown chart below to compare losses from any high point for UKRE.L and XDER.L.

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Drawdown Indicators

UKRE.LXDER.LDifference

Max Drawdown

Largest peak-to-trough decline

-40.08%

-45.20%

+5.12%

Max Drawdown (1Y)

Largest decline over 1 year

-11.92%

-16.58%

+4.66%

Max Drawdown (3Y)

Largest decline over 3 years

-21.04%

-19.16%

-1.88%

Max Drawdown (5Y)

Largest decline over 5 years

-40.08%

-45.20%

+5.12%

Max Drawdown (10Y)

Largest decline over 10 years

-40.08%

-45.20%

+5.12%

Current Drawdown

Current decline from peak

-37.81%

-27.03%

-10.78%

Average Drawdown

Average peak-to-trough decline

-16.46%

-13.36%

-3.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.18%

6.26%

-0.08%

Volatility

UKRE.L vs. XDER.L - Volatility Comparison

The current volatility for iShares MSCI Target UK Real Estate UCITS ETF (UKRE.L) is 3.85%, while Xtrackers FTSE EPRA/NAREIT Developed Europe Real Estate UCITS ETF 1C (XDER.L) has a volatility of 5.38%. This indicates that UKRE.L experiences smaller price fluctuations and is considered to be less risky than XDER.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UKRE.LXDER.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.85%

5.38%

-1.53%

Volatility (6M)

Calculated over the trailing 6-month period

9.92%

13.22%

-3.30%

Volatility (1Y)

Calculated over the trailing 1-year period

12.48%

15.53%

-3.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.06%

21.06%

-7.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.63%

18.77%

-5.14%

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

UKRE.L has a 0.40% expense ratio, which is higher than XDER.L's 0.33% expense ratio.

Dividends

UKRE.L vs. XDER.L - Dividend Comparison

UKRE.L's dividend yield for the trailing twelve months is around 0.07%, while XDER.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
XDER.L
Xtrackers FTSE EPRA/NAREIT Developed Europe Real Estate UCITS ETF 1C		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

UKRE.L and XDER.L have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XDER.L is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XDER.L is cheaper with a 0.33% expense ratio, compared with 0.40% for UKRE.L.

UKRE.L tracks MSCI UK IMI Liquid Real Estate Index, while XDER.L tracks FTSE EPRA Nareit Developed Europe TR EUR. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.40% for UKRE.L and 0.33% for XDER.L.

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