# iShares MSCI Target UK Real Estate UCITS ETF (UKRE)

**Source:** https://fundology.uk/fund/ukre · ISIN IE00BRHZ0398 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 30/09/2026, UKRE (iShares MSCI Target UK Real Estate UCITS ETF, ISIN IE00BRHZ0398) closed at £3.63 on the London Stock Exchange. Its ongoing charge is 0.40% a year (about £40 on £10,000). Over the five years to 30/09/2026 its total return was −11.0%, or −30.4% after UK CPIH inflation.

## Summary

iShares MSCI Target UK Real Estate UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2015. It tracks the MSCI UK IMI Liquid Real Estate Index - GBP. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.4% a year — about £40 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year.

Latest close: **£3.63** (30/09/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | UKRE |
| ISIN | IE00BRHZ0398 |
| Category | Property & infrastructure |
| Type | ETF |
| Provider | iShares |
| Tracks | MSCI UK IMI Liquid Real Estate Index - GBP |
| Income | Distributing |
| Ongoing charge | 0.40% a year (£40 per £10,000) |
| Fund size | £109m |
| Launched | 2015 |
| Domicile | Ireland |

## Past returns (periods to 30/09/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after ONS CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +6.91% | +3.55% | income reinvested |
| 3 years | +15.23% | +3.98% | income reinvested |
| 5 years | -10.97% | -30.40% | income reinvested |

Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of iShares MSCI Target UK Real Estate UCITS ETF in pounds (price only, income paid out not included): 2022 −25.5%, 2023 +1.3%, 2024 −13.8%, 2025 −2.2%; 2026 to 30/09/2026 −0.1%. Returns of iShares MSCI Target UK Real Estate UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +0.2%; to 30/09/2025: −13.8%; to 30/09/2024: +7.6%; to 30/09/2023: −4.3%; to 30/09/2022: −24.9%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -25.5% | -31.8% | Price |
| 2023 | +1.3% | -2.8% | Price |
| 2024 | -13.8% | -16.7% | Price |
| 2025 | -2.2% | -5.5% | Price |
| 2026 to 30/09/2026 | -0.1% | -2.8% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 13.32% | -11.51% |
| 3 years | 12.64% | -20.90% |
| 5 years | 13.96% | -40.22% |

## Largest fall

Volatility of iShares MSCI Target UK Real Estate UCITS ETF in pounds, annualised from weekly returns to 30/09/2026: 13.3% over 1 year, 12.6% over 3 years, 14.0% over 5 years. Largest fall in the price of iShares MSCI Target UK Real Estate UCITS ETF since October 2021, in pounds: −40.2% from 31/12/2021 to 27/03/2026. The lowest 12-month return of iShares MSCI Target UK Real Estate UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −26.6% (12 months to 14/10/2022); the highest was +16.5% (12 months to 07/01/2022). On 30/09/2026 the price of iShares MSCI Target UK Real Estate UCITS ETF was 36.4% below its highest weekly close since October 2021 (31/12/2021), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares MSCI Target UK Real Estate UCITS ETF 0.40% a year, as of 01/10/2026: 30 of the 51 other property and infrastructure funds charge more, 9 the same and 12 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.40%** per year
- ISA eligible: yes
- SIPP eligible: yes

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.