^GSPC vs. AYE2.DE
^GSPC (S&P 500 Index) is an index, while AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) is European High Yield Bonds fund tracking the Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond. Over the past 5 years, ^GSPC returned 11.84%/yr vs 1.40%/yr for AYE2.DE. At a 0.38 correlation, their price movements are largely independent.
Performance
^GSPC vs. AYE2.DE - Performance Comparison
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Different Trading Currencies
^GSPC is traded in USD, while AYE2.DE is traded in EUR. To make them comparable, the AYE2.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ^GSPC achieves a 8.56% return, which is significantly higher than AYE2.DE's -0.70% return.
^GSPC
- 1D
- 0.50%
- 1M
- -0.17%
- YTD
- 8.56%
- 6M
- 8.85%
- 1Y
- 22.93%
- 3Y*
- 19.37%
- 5Y*
- 11.84%
- 10Y*
- 13.61%
AYE2.DE
- 1D
- 0.58%
- 1M
- -0.58%
- YTD
- -0.70%
- 6M
- 0.05%
- 1Y
- 3.76%
- 3Y*
- 9.26%
- 5Y*
- 1.40%
- 10Y*
- —
^GSPC vs. AYE2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
^GSPC S&P 500 Index | 8.56% | 16.39% | 23.31% | 24.23% | -19.44% | 19.97% |
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | -0.70% | 19.44% | 0.28% | 14.40% | -15.61% | -2.92% |
Correlation
The correlation between ^GSPC and AYE2.DE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | 0.38 |
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Return for Risk
^GSPC vs. AYE2.DE — Risk / Return Rank
^GSPC
AYE2.DE
^GSPC vs. AYE2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for S&P 500 Index (^GSPC) and iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^GSPC | AYE2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.44 | ||
| Sortino ratioReturn per unit of downside risk | +1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.08 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 0.51 | +2.02 |
| Martin ratioReturn relative to average drawdown | 11.37 | 1.53 | +9.84 |
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Drawdowns
^GSPC vs. AYE2.DE - Drawdown Comparison
The maximum ^GSPC drawdown since its inception was -56.78%, which is greater than AYE2.DE's maximum drawdown of -32.89%. Use the drawdown chart below to compare losses from any high point for ^GSPC and AYE2.DE.
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Drawdown Indicators
| ^GSPC | AYE2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.78% | -32.89% | -23.89% |
Max Drawdown (1Y)Largest decline over 1 year | -9.10% | -7.33% | -1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -18.90% | -7.67% | -11.23% |
Max Drawdown (5Y)Largest decline over 5 years | -25.43% | -32.67% | +7.24% |
Max Drawdown (10Y)Largest decline over 10 years | -33.92% | — | — |
Current DrawdownCurrent decline from peak | -2.34% | -3.44% | +1.10% |
Average DrawdownAverage peak-to-trough decline | -10.72% | -10.79% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 2.46% | -0.44% |
Volatility
^GSPC vs. AYE2.DE - Volatility Comparison
S&P 500 Index (^GSPC) has a higher volatility of 4.43% compared to iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) at 1.88%. This indicates that ^GSPC's price experiences larger fluctuations and is considered to be riskier than AYE2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^GSPC | AYE2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.43% | 1.88% | +2.55% |
Volatility (6M)Calculated over the trailing 6-month period | 9.70% | 6.66% | +3.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.38% | 8.83% | +3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.97% | 10.72% | +6.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.09% | 10.60% | +7.49% |
Frequently Asked Questions
^GSPC and AYE2.DE have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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