AYEP.DE vs. SPY2.DE
AYEP.DE (iShares Asia Property Yield UCITS ETF USD Acc) and SPY2.DE (SPDR Dow Jones Global Real Estate UCITS ETF Accumulating) are both REIT funds - AYEP.DE tracks the FTSE EPRA/NAREIT Developed Asia Dividend+ while SPY2.DE tracks the Dow Jones Global Select Real Estate Securities. Both are passively managed. Over the past 5 years, AYEP.DE returned -1.21%/yr vs 2.27%/yr for SPY2.DE. A 0.59 correlation means they provide meaningful diversification when combined. AYEP.DE charges 0.59%/yr vs 0.40%/yr for SPY2.DE.
Performance
AYEP.DE vs. SPY2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AYEP.DE achieves a -5.35% return, which is significantly lower than SPY2.DE's 8.38% return.
AYEP.DE
- 1D
- -0.02%
- 1M
- -6.11%
- YTD
- -5.35%
- 6M
- -4.80%
- 1Y
- 4.48%
- 3Y*
- 0.62%
- 5Y*
- -1.21%
- 10Y*
- —
SPY2.DE
- 1D
- 0.10%
- 1M
- -0.62%
- YTD
- 8.38%
- 6M
- 7.13%
- 1Y
- 10.21%
- 3Y*
- 5.92%
- 5Y*
- 2.27%
- 10Y*
- —
AYEP.DE vs. SPY2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
AYEP.DE iShares Asia Property Yield UCITS ETF USD Acc | -5.35% | 15.89% | -4.24% | -5.46% | -7.48% | 13.37% | -16.64% | -0.17% |
SPY2.DE SPDR Dow Jones Global Real Estate UCITS ETF Accumulating | 8.38% | -2.42% | 5.09% | 7.66% | -20.98% | 41.62% | -18.78% | -1.52% |
Correlation
The correlation between AYEP.DE and SPY2.DE is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2019 | 0.59 |
The correlation between AYEP.DE and SPY2.DE has been stable across timeframes, ranging from 0.50 to 0.59 - a consistent structural relationship.
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Return for Risk
AYEP.DE vs. SPY2.DE — Risk / Return Rank
AYEP.DE
SPY2.DE
AYEP.DE vs. SPY2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Asia Property Yield UCITS ETF USD Acc (AYEP.DE) and SPDR Dow Jones Global Real Estate UCITS ETF Accumulating (SPY2.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.
| AYEP.DE | SPY2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.16 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.36 | 1.48 | -1.12 |
| Martin ratioReturn relative to average drawdown | 1.10 | 4.38 | -3.28 |
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
| AYEP.DE | SPY2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.41 | 0.89 | -0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | 0.15 | -0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.00 | 0.05 | -0.05 |
Drawdowns
AYEP.DE vs. SPY2.DE - Drawdown Comparison
The maximum AYEP.DE drawdown since its inception was -38.46%, smaller than the maximum SPY2.DE drawdown of -42.59%. Use the drawdown chart below to compare losses from any high point for AYEP.DE and SPY2.DE.
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Drawdown Indicators
| AYEP.DE | SPY2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.46% | -42.59% | +4.13% |
Max Drawdown (1Y)Largest decline over 1 year | -12.31% | -6.86% | -5.45% |
Max Drawdown (3Y)Largest decline over 3 years | -12.31% | -20.14% | +7.83% |
Max Drawdown (5Y)Largest decline over 5 years | -22.65% | -30.72% | +8.07% |
Current DrawdownCurrent decline from peak | -16.71% | -7.69% | -9.02% |
Average DrawdownAverage peak-to-trough decline | -15.03% | -15.50% | +0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.07% | 2.33% | +1.74% |
Volatility
AYEP.DE vs. SPY2.DE - Volatility Comparison
iShares Asia Property Yield UCITS ETF USD Acc (AYEP.DE) and SPDR Dow Jones Global Real Estate UCITS ETF Accumulating (SPY2.DE) have volatilities of 2.79% and 2.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AYEP.DE | SPY2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.79% | 2.82% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 8.31% | 8.57% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.94% | 11.46% | -0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.71% | 15.06% | -3.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.43% | 19.91% | -4.48% |
AYEP.DE vs. SPY2.DE - Expense Ratio Comparison
AYEP.DE has a 0.59% expense ratio, which is higher than SPY2.DE's 0.40% expense ratio.
Dividends
AYEP.DE vs. SPY2.DE - Dividend Comparison
Neither AYEP.DE nor SPY2.DE has paid dividends to shareholders.
Frequently Asked Questions
AYEP.DE and SPY2.DE have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPY2.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPY2.DE is cheaper with a 0.40% expense ratio, compared with 0.59% for AYEP.DE.
AYEP.DE tracks FTSE EPRA/NAREIT Developed Asia Dividend+, while SPY2.DE tracks Dow Jones Global Select Real Estate Securities. They also come from different issuers: iShares and State Street. Their fees differ too: 0.59% for AYEP.DE and 0.40% for SPY2.DE.
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