ZPRP.DE vs. TRET.DE

Last updated Jun 5, 2026

ZPRP.DE (SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF) and TRET.DE (VanEck Global Real Estate UCITS ETF) are both REIT funds - ZPRP.DE tracks the FTSE EPRA/NAREIT Developed Europe ex UK while TRET.DE tracks the GPR Global 100. Both are passively managed. Over the past 5 years, ZPRP.DE returned -4.33%/yr vs 3.26%/yr for TRET.DE. A 0.62 correlation means they provide meaningful diversification when combined. ZPRP.DE charges 0.30%/yr vs 0.25%/yr for TRET.DE.

Performance

ZPRP.DE vs. TRET.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF (ZPRP.DE) and VanEck Global Real Estate UCITS ETF (TRET.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZPRP.DE achieves a -0.81% return, which is significantly lower than TRET.DE's 5.31% return.

ZPRP.DE

• 1D: 0.56%
• 1M: -1.34%
• YTD: -0.81%
• 6M: -0.50%
• 1Y: -2.34%
• 3Y*: 9.93%
• 5Y*: -4.33%
• 10Y*: 0.99%

TRET.DE

• 1D: 0.19%
• 1M: -1.75%
• YTD: 5.31%
• 6M: 4.13%
• 1Y: 8.78%
• 3Y*: 7.84%
• 5Y*: 3.26%
• 10Y*: —

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

ZPRP.DE vs. TRET.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ZPRP.DE SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF	-0.81%	6.98%	-2.34%	19.03%	-36.37%	10.87%	-6.56%	26.91%	-3.77%
TRET.DE VanEck Global Real Estate UCITS ETF	5.31%	1.87%	6.86%	9.89%	-21.28%	40.76%	-15.21%	22.15%	-7.54%

Correlation

The correlation between ZPRP.DE and TRET.DE is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Dec 12, 2018	0.62

The correlation between ZPRP.DE and TRET.DE has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.

Return for Risk

ZPRP.DE vs. TRET.DE — Risk / Return Rank

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

ZPRP.DE

ZPRP.DE Risk / Return Rank: 7
ZPRP.DE Sharpe Ratio Rank: 8
ZPRP.DE Sortino Ratio Rank: 7
ZPRP.DE Omega Ratio Rank: 7
ZPRP.DE Calmar Ratio Rank: 8
ZPRP.DE Martin Ratio Rank: 7

TRET.DE

TRET.DE Risk / Return Rank: 23
TRET.DE Sharpe Ratio Rank: 22
TRET.DE Sortino Ratio Rank: 22
TRET.DE Omega Ratio Rank: 21
TRET.DE Calmar Ratio Rank: 23
TRET.DE Martin Ratio Rank: 25

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.

ZPRP.DE vs. TRET.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF (ZPRP.DE) 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.

	ZPRP.DE	TRET.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.15	0.75	-0.90
Sortino ratio: Return per unit of downside risk	-0.11	1.13	-1.23
Omega ratio: Gain probability vs. loss probability	0.99	1.13	-0.15
Calmar ratio: Return relative to maximum drawdown	-0.15	1.05	-1.20
Martin ratio: Return relative to average drawdown	-0.41	3.38	-3.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZPRP.DE vs. TRET.DE - Sharpe Ratio Comparison

The current ZPRP.DE Sharpe Ratio is -0.15, which is lower than the TRET.DE Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of ZPRP.DE and TRET.DE, 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

	ZPRP.DE	TRET.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.15	0.75	-0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.19	0.21	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.05	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.22	-0.14

Drawdowns

ZPRP.DE vs. TRET.DE - Drawdown Comparison

The maximum ZPRP.DE drawdown since its inception was -48.69%, which is greater than TRET.DE's maximum drawdown of -41.75%. Use the drawdown chart below to compare losses from any high point for ZPRP.DE and TRET.DE.

Drawdown Indicators

	ZPRP.DE	TRET.DE	Difference
Max Drawdown Largest peak-to-trough decline	-48.69%	-41.75%	-6.94%
Max Drawdown (1Y) Largest decline over 1 year	-15.29%	-8.35%	-6.94%
Max Drawdown (3Y) Largest decline over 3 years	-19.80%	-18.60%	-1.20%
Max Drawdown (5Y) Largest decline over 5 years	-48.69%	-30.36%	-18.33%
Max Drawdown (10Y) Largest decline over 10 years	-48.69%	—	—
Current Drawdown Current decline from peak	-26.29%	-4.46%	-21.83%
Average Drawdown Average peak-to-trough decline	-16.81%	-12.19%	-4.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.75%	2.59%	+3.16%

Volatility

ZPRP.DE vs. TRET.DE - Volatility Comparison

SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF (ZPRP.DE) has a higher volatility of 5.34% compared to VanEck Global Real Estate UCITS ETF (TRET.DE) at 3.05%. This indicates that ZPRP.DE'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.

Volatility by Period

	ZPRP.DE	TRET.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	3.05%	+2.29%
Volatility (6M) Calculated over the trailing 6-month period	13.00%	9.21%	+3.79%
Volatility (1Y) Calculated over the trailing 1-year period	15.30%	11.66%	+3.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.12%	15.15%	+6.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.77%	17.83%	+1.94%

ZPRP.DE vs. TRET.DE - Expense Ratio Comparison

ZPRP.DE has a 0.30% expense ratio, which is higher than TRET.DE's 0.25% expense ratio.

Dividends

ZPRP.DE vs. TRET.DE - Dividend Comparison

ZPRP.DE has not paid dividends to shareholders, while TRET.DE's dividend yield for the trailing twelve months is around 3.48%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
TRET.DE VanEck Global Real Estate UCITS ETF	3.48%	3.66%	3.44%	3.66%	4.69%	1.78%	4.45%	3.31%
ZPRP.DE SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZPRP.DE and TRET.DE in my portfolio?

ZPRP.DE and TRET.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZPRP.DE or TRET.DE?

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.

Which ETF is cheaper, ZPRP.DE or TRET.DE?

TRET.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for ZPRP.DE.

What is the main difference between ZPRP.DE and TRET.DE?

ZPRP.DE tracks FTSE EPRA/NAREIT Developed Europe ex UK, while TRET.DE tracks GPR Global 100. They also come from different issuers: State Street and VanEck. Their fees differ too: 0.30% for ZPRP.DE and 0.25% for TRET.DE.