ZPRP.DE vs. UKPH.DE
ZPRP.DE (SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF) and UKPH.DE (iShares UK Property UCITS ETF (EUR Hedged) Acc) are both REIT funds - ZPRP.DE tracks the FTSE EPRA/NAREIT Developed Europe ex UK while UKPH.DE tracks the FTSE EPRA/NAREIT United Kingdom (EUR Hedged). Both are passively managed. Over the past 3 years, ZPRP.DE returned 9.93%/yr vs -1.16%/yr for UKPH.DE. Their correlation of 0.80 suggests significant overlap in exposure. ZPRP.DE charges 0.30%/yr vs 0.42%/yr for UKPH.DE.
Performance
ZPRP.DE vs. UKPH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPRP.DE achieves a -0.81% return, which is significantly higher than UKPH.DE's -1.89% 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%
UKPH.DE
- 1D
- 1.34%
- 1M
- 3.00%
- YTD
- -1.89%
- 6M
- -1.39%
- 1Y
- -2.14%
- 3Y*
- -1.16%
- 5Y*
- —
- 10Y*
- —
ZPRP.DE vs. UKPH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ZPRP.DE SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF | -0.81% | 6.98% | -2.34% | 19.03% | -25.15% |
UKPH.DE iShares UK Property UCITS ETF (EUR Hedged) Acc | -1.89% | 7.71% | -14.33% | 8.55% | -23.13% |
Correlation
The correlation between ZPRP.DE and UKPH.DE is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since May 23, 2022 | 0.80 |
The correlation between ZPRP.DE and UKPH.DE has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.
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Return for Risk
ZPRP.DE vs. UKPH.DE — Risk / Return Rank
ZPRP.DE
UKPH.DE
ZPRP.DE vs. UKPH.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 iShares UK Property UCITS ETF (EUR Hedged) Acc (UKPH.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 | UKPH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.00 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.15 | -0.12 | -0.03 |
| Martin ratioReturn relative to average drawdown | -0.41 | -0.29 | -0.12 |
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
| ZPRP.DE | UKPH.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.15 | -0.11 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.19 | — | — |
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 | -0.31 | +0.39 |
Drawdowns
ZPRP.DE vs. UKPH.DE - Drawdown Comparison
The maximum ZPRP.DE drawdown since its inception was -48.69%, which is greater than UKPH.DE's maximum drawdown of -36.06%. Use the drawdown chart below to compare losses from any high point for ZPRP.DE and UKPH.DE.
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Drawdown Indicators
| ZPRP.DE | UKPH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.69% | -36.06% | -12.63% |
Max Drawdown (1Y)Largest decline over 1 year | -15.29% | -17.69% | +2.40% |
Max Drawdown (3Y)Largest decline over 3 years | -19.80% | -23.56% | +3.76% |
Max Drawdown (5Y)Largest decline over 5 years | -48.69% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -48.69% | — | — |
Current DrawdownCurrent decline from peak | -26.29% | -26.71% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -16.81% | -24.07% | +7.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.75% | 7.45% | -1.70% |
Volatility
ZPRP.DE vs. UKPH.DE - Volatility Comparison
The current volatility for SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF (ZPRP.DE) is 5.34%, while iShares UK Property UCITS ETF (EUR Hedged) Acc (UKPH.DE) has a volatility of 5.86%. This indicates that ZPRP.DE experiences smaller price fluctuations and is considered to be less risky than UKPH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPRP.DE | UKPH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.34% | 5.86% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 13.00% | 15.30% | -2.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.30% | 18.73% | -3.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.12% | 21.48% | +0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.77% | 21.48% | -1.71% |
ZPRP.DE vs. UKPH.DE - Expense Ratio Comparison
ZPRP.DE has a 0.30% expense ratio, which is lower than UKPH.DE's 0.42% expense ratio.
Dividends
ZPRP.DE vs. UKPH.DE - Dividend Comparison
Neither ZPRP.DE nor UKPH.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPRP.DE and UKPH.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPRP.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPRP.DE is cheaper with a 0.30% expense ratio, compared with 0.42% for UKPH.DE.
ZPRP.DE tracks FTSE EPRA/NAREIT Developed Europe ex UK, while UKPH.DE tracks FTSE EPRA/NAREIT United Kingdom (EUR Hedged). They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for ZPRP.DE and 0.42% for UKPH.DE.
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