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XRES.L vs. USRT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XRES.L vs. USRT

Last updated Jun 5, 2026

XRES.L (Invesco Real Estate S&P US Select Sector UCITS ETF Acc) and USRT (iShares Core U.S. REIT ETF) are both REIT funds - XRES.L tracks the S&P Select Sector Capped 20% Real Estate Index while USRT tracks the FTSE NAREIT Equity REITs Index. Both are passively managed. Over the past 10 years, XRES.L returned 6.39%/yr vs 6.40%/yr for USRT. A 0.58 correlation means they provide meaningful diversification when combined. XRES.L charges 0.14%/yr vs 0.08%/yr for USRT.

Performance

XRES.L vs. USRT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Real Estate S&P US Select Sector UCITS ETF Acc (XRES.L) and iShares Core U.S. REIT ETF (USRT). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XRES.L achieves a 9.04% return, which is significantly lower than USRT's 14.10% return. Both investments have delivered pretty close results over the past 10 years, with XRES.L having a 6.39% annualized return and USRT not far ahead at 6.40%.

XRES.L

1D
-0.02%
1M
-0.28%
YTD
9.04%
6M
8.82%
1Y
9.37%
3Y*
9.53%
5Y*
2.78%
10Y*
6.39%

USRT

1D
1.35%
1M
0.62%
YTD
14.10%
6M
13.30%
1Y
16.73%
3Y*
12.24%
5Y*
5.01%
10Y*
6.40%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XRES.L vs. USRT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XRES.L
Invesco Real Estate S&P US Select Sector UCITS ETF Acc		9.04%3.99%2.44%12.71%-25.97%46.91%-3.45%27.10%-2.96%10.89%
USRT
iShares Core U.S. REIT ETF		14.10%2.44%8.58%13.64%-24.43%43.26%-8.06%25.98%-4.67%5.27%

Correlation

The correlation between XRES.L and USRT is 0.51, 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

0.51

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

0.57

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

0.55

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

0.58

Correlation (All Time)
Calculated using the full available price history since Feb 22, 2016

0.58

The correlation between XRES.L and USRT has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.

XRES.L vs. USRT - Sectors Allocation Comparison

Sectors
XRES.L
USRT

Real Estate

100.0%
99.4%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

0.1%

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

-

-

Real Estate

XRES.L
100.0%
USRT
99.4%

Basic Materials

XRES.L

-

USRT

-

Communication Services

XRES.L

-

USRT

-

Consumer Cyclical

XRES.L

-

USRT

-

Consumer Defensive

XRES.L

-

USRT

-

Energy

XRES.L

-

USRT

-

Financial Services

XRES.L

-

USRT
0.1%

Healthcare

XRES.L

-

USRT

-

Industrials

XRES.L

-

USRT

-

Technology

XRES.L

-

USRT

-

Utilities

XRES.L

-

USRT

-

Compare stocks, funds, or ETFs

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Invesco Real Estate S&P US Select Sector UCITS ETF Acc

iShares Core U.S. REIT ETF

Often compared with XRES.L:
XRES.L vs. XLREXRES.L vs. VNQXRES.L vs. VWRA.LXRES.L vs. IUSP.LXRES.L vs. REMXRES.L vs. GBRE.LXRES.L vs. FREL
Often compared with USRT:
USRT vs. VNQUSRT vs. XLREUSRT vs. REETUSRT vs. ICFUSRT vs. BBREUSRT vs. SCHDUSRT vs. VOO

Return for Risk

XRES.L vs. USRT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XRES.L
XRES.L Risk / Return Rank: 2323
Overall Rank
XRES.L Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
XRES.L Sortino Ratio Rank: 2121
Sortino Ratio Rank
XRES.L Omega Ratio Rank: 2020
Omega Ratio Rank
XRES.L Calmar Ratio Rank: 2626
Calmar Ratio Rank
XRES.L Martin Ratio Rank: 2525
Martin Ratio Rank
USRT
USRT Risk / Return Rank: 3838
Overall Rank
USRT Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
USRT Sortino Ratio Rank: 3434
Sortino Ratio Rank
USRT Omega Ratio Rank: 3434
Omega Ratio Rank
USRT Calmar Ratio Rank: 4343
Calmar Ratio Rank
USRT Martin Ratio Rank: 4242
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.

XRES.L vs. USRT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Real Estate S&P US Select Sector UCITS ETF Acc (XRES.L) and iShares Core U.S. REIT ETF (USRT). 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.

XRES.LUSRTDifference
Sharpe ratioReturn per unit of total volatility
0.71
1.26

-0.56

Sortino ratioReturn per unit of downside risk
1.08
1.76

-0.69

Omega ratioGain probability vs. loss probability

1.12

1.22

-0.10

Calmar ratioReturn relative to maximum drawdown

1.23

2.09

-0.86

Martin ratioReturn relative to average drawdown

3.26

6.73

-3.47

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XRES.L vs. USRT - Sharpe Ratio Comparison

The current XRES.L Sharpe Ratio is 0.71, which is lower than the USRT Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of XRES.L and USRT, 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

XRES.LUSRTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.71

1.26

-0.56

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.15

0.27

-0.12

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.34

0.30

+0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.39

0.19

+0.20

Drawdowns

XRES.L vs. USRT - Drawdown Comparison

The maximum XRES.L drawdown since its inception was -37.84%, smaller than the maximum USRT drawdown of -69.91%. Use the drawdown chart below to compare losses from any high point for XRES.L and USRT.

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Drawdown Indicators

XRES.LUSRTDifference

Max Drawdown

Largest peak-to-trough decline

-37.84%

-69.91%

+32.07%

Max Drawdown (1Y)

Largest decline over 1 year

-7.56%

-8.04%

+0.48%

Max Drawdown (3Y)

Largest decline over 3 years

-17.95%

-18.70%

+0.75%

Max Drawdown (5Y)

Largest decline over 5 years

-34.70%

-31.03%

-3.67%

Max Drawdown (10Y)

Largest decline over 10 years

-37.84%

-44.38%

+6.54%

Current Drawdown

Current decline from peak

-3.19%

-1.70%

-1.49%

Average Drawdown

Average peak-to-trough decline

-10.17%

-12.97%

+2.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.87%

2.49%

+0.38%

Volatility

XRES.L vs. USRT - Volatility Comparison

Invesco Real Estate S&P US Select Sector UCITS ETF Acc (XRES.L) has a higher volatility of 4.47% compared to iShares Core U.S. REIT ETF (USRT) at 4.12%. This indicates that XRES.L's price experiences larger fluctuations and is considered to be riskier than USRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XRES.LUSRTDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.47%

4.12%

+0.35%

Volatility (6M)

Calculated over the trailing 6-month period

9.68%

9.33%

+0.35%

Volatility (1Y)

Calculated over the trailing 1-year period

13.25%

13.33%

-0.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.47%

18.90%

-0.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.89%

21.28%

-2.39%

XRES.L vs. USRT - Expense Ratio Comparison

XRES.L has a 0.14% expense ratio, which is higher than USRT's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XRES.L vs. USRT - Dividend Comparison

XRES.L has not paid dividends to shareholders, while USRT's dividend yield for the trailing twelve months is around 2.64%.

PositionTTM20252024202320222021202020192018201720162015
USRT
iShares Core U.S. REIT ETF		2.64%3.07%2.85%3.18%3.46%2.27%3.12%3.34%5.66%3.44%3.98%3.59%
XRES.L
Invesco Real Estate S&P US Select Sector UCITS ETF Acc		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

XRES.L and USRT have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, USRT is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

USRT is cheaper with a 0.08% expense ratio, compared with 0.14% for XRES.L.

XRES.L tracks S&P Select Sector Capped 20% Real Estate Index, while USRT tracks FTSE NAREIT Equity REITs Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.14% for XRES.L and 0.08% for USRT.

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