D5BM.DE vs. SPQH.DE
D5BM.DE (Xtrackers S&P 500 Swap UCITS ETF 1C) and SPQH.DE (Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating) are both exchange-traded funds - D5BM.DE is a S&P 500 fund tracking the S&P 500 Index, while SPQH.DE is a Defined Outcome fund tracking the Cboe S&P 500 15% WHT Quarterly 9% (-3% to -12%) Buffer Protect Index. Both are passively managed. Over the past 3 years, D5BM.DE returned 18.95%/yr vs 5.93%/yr for SPQH.DE. A 0.74 correlation means they provide meaningful diversification when combined. D5BM.DE charges 0.15%/yr vs 0.50%/yr for SPQH.DE.
Performance
D5BM.DE vs. SPQH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, D5BM.DE achieves a 11.37% return, which is significantly higher than SPQH.DE's 1.52% return.
D5BM.DE
- 1D
- -0.13%
- 1M
- 4.39%
- YTD
- 11.37%
- 6M
- 10.87%
- 1Y
- 25.59%
- 3Y*
- 18.95%
- 5Y*
- 14.88%
- 10Y*
- 15.17%
SPQH.DE
- 1D
- -0.13%
- 1M
- 1.96%
- YTD
- 1.52%
- 6M
- 1.67%
- 1Y
- 6.86%
- 3Y*
- 5.93%
- 5Y*
- —
- 10Y*
- —
D5BM.DE vs. SPQH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
D5BM.DE Xtrackers S&P 500 Swap UCITS ETF 1C | 11.37% | 4.79% | 32.48% | 16.52% |
SPQH.DE Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating | 1.52% | -4.41% | 21.88% | 6.82% |
Correlation
The correlation between D5BM.DE and SPQH.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2023 | 0.74 |
The correlation between D5BM.DE and SPQH.DE has been stable across timeframes, ranging from 0.66 to 0.74 - a consistent structural relationship.
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Return for Risk
D5BM.DE vs. SPQH.DE — Risk / Return Rank
D5BM.DE
SPQH.DE
D5BM.DE vs. SPQH.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P 500 Swap UCITS ETF 1C (D5BM.DE) and Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating (SPQH.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.
| D5BM.DE | SPQH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.16 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 2.12 | +1.46 |
| Martin ratioReturn relative to average drawdown | 12.76 | 4.81 | +7.95 |
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
| D5BM.DE | SPQH.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 0.92 | +1.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.94 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | 0.68 | +0.23 |
Drawdowns
D5BM.DE vs. SPQH.DE - Drawdown Comparison
The maximum D5BM.DE drawdown since its inception was -33.77%, which is greater than SPQH.DE's maximum drawdown of -17.68%. Use the drawdown chart below to compare losses from any high point for D5BM.DE and SPQH.DE.
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Drawdown Indicators
| D5BM.DE | SPQH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.77% | -17.68% | -16.09% |
Max Drawdown (1Y)Largest decline over 1 year | -7.13% | -3.16% | -3.97% |
Max Drawdown (3Y)Largest decline over 3 years | -23.22% | -17.68% | -5.54% |
Max Drawdown (5Y)Largest decline over 5 years | -23.22% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.77% | — | — |
Current DrawdownCurrent decline from peak | -0.46% | -5.05% | +4.59% |
Average DrawdownAverage peak-to-trough decline | -4.12% | -4.12% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 1.39% | +0.62% |
Volatility
D5BM.DE vs. SPQH.DE - Volatility Comparison
Xtrackers S&P 500 Swap UCITS ETF 1C (D5BM.DE) has a higher volatility of 2.69% compared to Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating (SPQH.DE) at 1.63%. This indicates that D5BM.DE's price experiences larger fluctuations and is considered to be riskier than SPQH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| D5BM.DE | SPQH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.69% | 1.63% | +1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 7.59% | 4.52% | +3.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.59% | 7.30% | +4.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 10.79% | +4.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.06% | 10.79% | +5.27% |
D5BM.DE vs. SPQH.DE - Expense Ratio Comparison
D5BM.DE has a 0.15% expense ratio, which is lower than SPQH.DE's 0.50% expense ratio.
Dividends
D5BM.DE vs. SPQH.DE - Dividend Comparison
Neither D5BM.DE nor SPQH.DE has paid dividends to shareholders.
Frequently Asked Questions
D5BM.DE and SPQH.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, D5BM.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
D5BM.DE is cheaper with a 0.15% expense ratio, compared with 0.50% for SPQH.DE.
D5BM.DE is categorized as S&P 500, while SPQH.DE is Defined Outcome. D5BM.DE tracks S&P 500 Index, while SPQH.DE tracks Cboe S&P 500 15% WHT Quarterly 9% (-3% to -12%) Buffer Protect Index. They also come from different issuers: Xtrackers and Global X. Their fees differ too: 0.15% for D5BM.DE and 0.50% for SPQH.DE.
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