AUEG.L vs. SPYL.DE
AUEG.L (Amundi MSCI Emerging Markets UCITS ETF USD) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - AUEG.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, AUEG.L returned 53.88% vs 29.00% for SPYL.DE. At a 0.50 correlation, their price movements are largely independent. AUEG.L charges 0.20%/yr vs 0.03%/yr for SPYL.DE.
Performance
AUEG.L vs. SPYL.DE - Performance Comparison
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Different Trading Currencies
AUEG.L is traded in GBp, while SPYL.DE is traded in EUR. To make them comparable, the SPYL.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, AUEG.L achieves a 26.01% return, which is significantly higher than SPYL.DE's 10.49% return.
AUEG.L
- 1D
- -1.63%
- 1M
- 6.26%
- YTD
- 26.01%
- 6M
- 28.10%
- 1Y
- 53.88%
- 3Y*
- 20.95%
- 5Y*
- 8.55%
- 10Y*
- 10.92%
SPYL.DE
- 1D
- -0.02%
- 1M
- 5.43%
- YTD
- 10.49%
- 6M
- 10.33%
- 1Y
- 29.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AUEG.L vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AUEG.L Amundi MSCI Emerging Markets UCITS ETF USD | 26.01% | 25.28% | 8.99% | 6.37% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 10.44% | 10.16% | 26.56% | 9.17% |
Correlation
The correlation between AUEG.L and SPYL.DE is 0.56, 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 | 0.56 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.50 |
The correlation between AUEG.L and SPYL.DE has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.
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Return for Risk
AUEG.L vs. SPYL.DE — Risk / Return Rank
AUEG.L
SPYL.DE
AUEG.L vs. SPYL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Emerging Markets UCITS ETF USD (AUEG.L) and State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.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.
| AUEG.L | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.47 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.89 | 4.08 | +0.81 |
| Martin ratioReturn relative to average drawdown | 17.24 | 14.67 | +2.57 |
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
| AUEG.L | SPYL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.20 | 2.61 | +0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 1.61 | -0.98 |
Drawdowns
AUEG.L vs. SPYL.DE - Drawdown Comparison
The maximum AUEG.L drawdown since its inception was -27.50%, which is greater than SPYL.DE's maximum drawdown of -22.01%. Use the drawdown chart below to compare losses from any high point for AUEG.L and SPYL.DE.
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Drawdown Indicators
| AUEG.L | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.50% | -22.01% | -5.49% |
Max Drawdown (1Y)Largest decline over 1 year | -10.97% | -7.08% | -3.89% |
Max Drawdown (3Y)Largest decline over 3 years | -15.37% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.59% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -27.50% | — | — |
Current DrawdownCurrent decline from peak | -2.45% | -0.27% | -2.18% |
Average DrawdownAverage peak-to-trough decline | -9.17% | -2.86% | -6.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 1.97% | +1.15% |
Volatility
AUEG.L vs. SPYL.DE - Volatility Comparison
Amundi MSCI Emerging Markets UCITS ETF USD (AUEG.L) has a higher volatility of 7.40% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 3.03%. This indicates that AUEG.L's price experiences larger fluctuations and is considered to be riskier than SPYL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AUEG.L | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.40% | 3.03% | +4.37% |
Volatility (6M)Calculated over the trailing 6-month period | 14.32% | 7.42% | +6.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.80% | 11.07% | +5.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.19% | 13.83% | +2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.91% | 13.83% | +4.08% |
AUEG.L vs. SPYL.DE - Expense Ratio Comparison
AUEG.L has a 0.20% expense ratio, which is higher than SPYL.DE's 0.03% 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
AUEG.L vs. SPYL.DE - Dividend Comparison
Neither AUEG.L nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
AUEG.L and SPYL.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYL.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.DE is cheaper with a 0.03% expense ratio, compared with 0.20% for AUEG.L.
AUEG.L is categorized as Emerging Markets Equities, while SPYL.DE is S&P 500. AUEG.L tracks MSCI EM NR USD, while SPYL.DE tracks S&P 500 Index. They also come from different issuers: Amundi and State Street. Their fees differ too: 0.20% for AUEG.L and 0.03% for SPYL.DE.
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