DSPY.DE vs. SPYT
DSPY.DE (IncomeShares S&P500 Options (0DTE) ETP EUR) and SPYT (Defiance S&P 500 Income Target ETF) are both Derivative Income funds. Both are actively managed. Over the past year, DSPY.DE returned 12.36% vs 21.23% for SPYT. A 0.53 correlation means they provide meaningful diversification when combined. DSPY.DE charges 0.45%/yr vs 0.87%/yr for SPYT.
Performance
DSPY.DE vs. SPYT - Performance Comparison
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Different Trading Currencies
DSPY.DE is traded in EUR, while SPYT is traded in USD. To make them comparable, the SPYT values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, DSPY.DE achieves a -2.57% return, which is significantly lower than SPYT's 10.67% return.
DSPY.DE
- 1D
- 0.00%
- 1M
- 0.54%
- YTD
- -2.57%
- 6M
- -2.17%
- 1Y
- 12.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYT
- 1D
- -0.18%
- 1M
- 0.10%
- YTD
- 10.67%
- 6M
- 9.98%
- 1Y
- 21.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DSPY.DE vs. SPYT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DSPY.DE IncomeShares S&P500 Options (0DTE) ETP EUR | -2.57% | 6.50% | -0.75% |
SPYT Defiance S&P 500 Income Target ETF | 10.67% | -0.93% | 0.31% |
Correlation
The correlation between DSPY.DE and SPYT is 0.59, 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 | 0.59 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2024 | 0.53 |
The correlation between DSPY.DE and SPYT has been stable across timeframes, ranging from 0.53 to 0.59 - a consistent structural relationship.
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Return for Risk
DSPY.DE vs. SPYT — Risk / Return Rank
DSPY.DE
SPYT
DSPY.DE vs. SPYT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IncomeShares S&P500 Options (0DTE) ETP EUR (DSPY.DE) and Defiance S&P 500 Income Target ETF (SPYT). 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.
| DSPY.DE | SPYT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.35 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | 3.26 | -2.75 |
| Martin ratioReturn relative to average drawdown | 0.95 | 11.76 | -10.81 |
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Drawdowns
DSPY.DE vs. SPYT - Drawdown Comparison
The maximum DSPY.DE drawdown since its inception was -24.16%, roughly equal to the maximum SPYT drawdown of -23.48%. Use the drawdown chart below to compare losses from any high point for DSPY.DE and SPYT.
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Drawdown Indicators
| DSPY.DE | SPYT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.16% | -23.48% | -0.68% |
Max Drawdown (1Y)Largest decline over 1 year | -24.16% | -6.54% | -17.62% |
Current DrawdownCurrent decline from peak | -14.93% | -0.91% | -14.02% |
Average DrawdownAverage peak-to-trough decline | -10.11% | -4.20% | -5.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.00% | 1.81% | +11.19% |
Volatility
DSPY.DE vs. SPYT - Volatility Comparison
The current volatility for IncomeShares S&P500 Options (0DTE) ETP EUR (DSPY.DE) is 2.81%, while Defiance S&P 500 Income Target ETF (SPYT) has a volatility of 3.64%. This indicates that DSPY.DE experiences smaller price fluctuations and is considered to be less risky than SPYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DSPY.DE | SPYT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.81% | 3.64% | -0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 9.55% | 8.55% | +1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.49% | 11.72% | +12.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.45% | 16.36% | +12.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.45% | 16.36% | +12.09% |
DSPY.DE vs. SPYT - Expense Ratio Comparison
DSPY.DE has a 0.45% expense ratio, which is lower than SPYT's 0.87% expense ratio.
Dividends
DSPY.DE vs. SPYT - Dividend Comparison
DSPY.DE's dividend yield for the trailing twelve months is around 38.44%, more than SPYT's 21.23% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
DSPY.DE IncomeShares S&P500 Options (0DTE) ETP EUR | 38.44% | 90.77% | 0.00% |
SPYT Defiance S&P 500 Income Target ETF | 21.23% | 21.40% | 17.37% |
Frequently Asked Questions
DSPY.DE and SPYT have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DSPY.DE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DSPY.DE is cheaper with a 0.45% expense ratio, compared with 0.87% for SPYT.
They also come from different issuers: Leverage Shares and Defiance. Their fees differ too: 0.45% for DSPY.DE and 0.87% for SPYT.
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