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

XDER.L vs. UKRE.L

Last updated Jun 5, 2026

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

Performance

XDER.L vs. UKRE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers FTSE EPRA/NAREIT Developed Europe Real Estate UCITS ETF 1C (XDER.L) and iShares MSCI Target UK Real Estate UCITS ETF (UKRE.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, XDER.L achieves a -1.79% return, which is significantly higher than UKRE.L's -3.77% return. Over the past 10 years, XDER.L has outperformed UKRE.L with an annualized return of 0.79%, while UKRE.L has yielded a comparatively lower -3.16% annualized return.

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%

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

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

2026 (YTD)202520242023202220212020201920182017
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%
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%

Correlation

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

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

Sectors
XDER.L
UKRE.L

Real Estate

97.7%
100.0%

Consumer Cyclical

1.0%

-

Financial Services

0.5%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

-

-

Real Estate

XDER.L
97.7%
UKRE.L
100.0%

Consumer Cyclical

XDER.L
1.0%
UKRE.L

-

Financial Services

XDER.L
0.5%
UKRE.L

-

Basic Materials

XDER.L

-

UKRE.L

-

Communication Services

XDER.L

-

UKRE.L

-

Consumer Defensive

XDER.L

-

UKRE.L

-

Energy

XDER.L

-

UKRE.L

-

Healthcare

XDER.L

-

UKRE.L

-

Industrials

XDER.L

-

UKRE.L

-

Technology

XDER.L

-

UKRE.L

-

Utilities

XDER.L

-

UKRE.L

-

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

iShares MSCI Target UK Real Estate UCITS ETF

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
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

Return for Risk

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

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

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

This table presents a comparison of risk-adjusted performance metrics for Xtrackers FTSE EPRA/NAREIT Developed Europe Real Estate UCITS ETF 1C (XDER.L) and iShares MSCI Target UK Real Estate UCITS ETF (UKRE.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.

XDER.LUKRE.LDifference
Sharpe ratioReturn per unit of total volatility
-0.02
-0.54

+0.52

Sortino ratioReturn per unit of downside risk
0.08
-0.67

+0.75

Omega ratioGain probability vs. loss probability

1.01

0.92

+0.09

Calmar ratioReturn relative to maximum drawdown

-0.02

-0.56

+0.54

Martin ratioReturn relative to average drawdown

-0.05

-1.09

+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.

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

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

XDER.LUKRE.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.02

-0.54

+0.52

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.21

-0.50

+0.29

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.04

-0.23

+0.28

Sharpe Ratio (All Time)

Calculated using the full available price history

0.31

-0.25

+0.55

Drawdowns

XDER.L vs. UKRE.L - Drawdown Comparison

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

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Drawdown Indicators

XDER.LUKRE.LDifference

Max Drawdown

Largest peak-to-trough decline

-45.20%

-40.08%

-5.12%

Max Drawdown (1Y)

Largest decline over 1 year

-16.58%

-11.92%

-4.66%

Max Drawdown (3Y)

Largest decline over 3 years

-19.16%

-21.04%

+1.88%

Max Drawdown (5Y)

Largest decline over 5 years

-45.20%

-40.08%

-5.12%

Max Drawdown (10Y)

Largest decline over 10 years

-45.20%

-40.08%

-5.12%

Current Drawdown

Current decline from peak

-27.03%

-37.81%

+10.78%

Average Drawdown

Average peak-to-trough decline

-13.36%

-16.46%

+3.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.26%

6.18%

+0.08%

Volatility

XDER.L vs. UKRE.L - Volatility Comparison

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

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Volatility by Period

XDER.LUKRE.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.38%

3.85%

+1.53%

Volatility (6M)

Calculated over the trailing 6-month period

13.22%

9.92%

+3.30%

Volatility (1Y)

Calculated over the trailing 1-year period

15.53%

12.48%

+3.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.06%

14.06%

+7.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.77%

13.63%

+5.14%

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

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

Dividends

XDER.L vs. UKRE.L - Dividend Comparison

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

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

XDER.L and UKRE.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.

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

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