EXS3.DE vs. SPYU.DE
EXS3.DE (iShares MDAX UCITS ETF (DE)) and SPYU.DE (SPDR MSCI Europe Utilities UCITS ETF) are both exchange-traded funds - EXS3.DE is a Europe Equities fund tracking the MDAX®, while SPYU.DE is a Utilities Equities fund tracking the MSCI Europe Utilities 20/35 Capped. Both are passively managed. Over the past 10 years, EXS3.DE returned 4.04%/yr vs 10.70%/yr for SPYU.DE. A 0.52 correlation means they provide meaningful diversification when combined. EXS3.DE charges 0.51%/yr vs 0.18%/yr for SPYU.DE.
Performance
EXS3.DE vs. SPYU.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EXS3.DE achieves a 6.43% return, which is significantly lower than SPYU.DE's 13.06% return. Over the past 10 years, EXS3.DE has underperformed SPYU.DE with an annualized return of 4.04%, while SPYU.DE has yielded a comparatively higher 10.70% annualized return.
EXS3.DE
- 1D
- 0.21%
- 1M
- 5.13%
- YTD
- 6.43%
- 6M
- 10.24%
- 1Y
- 4.92%
- 3Y*
- 6.03%
- 5Y*
- -1.18%
- 10Y*
- 4.04%
SPYU.DE
- 1D
- -0.28%
- 1M
- -3.02%
- YTD
- 13.06%
- 6M
- 14.07%
- 1Y
- 26.75%
- 3Y*
- 16.61%
- 5Y*
- 11.82%
- 10Y*
- 10.70%
EXS3.DE vs. SPYU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EXS3.DE iShares MDAX UCITS ETF (DE) | 6.43% | 19.10% | -6.45% | 7.92% | -29.11% | 13.18% | 8.17% | 30.28% | -18.39% | 17.41% |
SPYU.DE SPDR MSCI Europe Utilities UCITS ETF | 13.06% | 34.39% | 0.99% | 13.57% | -7.97% | 8.80% | 11.01% | 31.91% | 2.41% | 9.05% |
Correlation
The correlation between EXS3.DE and SPYU.DE is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since May 14, 2013 | 0.52 |
Over the past year, the correlation between EXS3.DE and SPYU.DE has dropped to 0.19 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.
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Return for Risk
EXS3.DE vs. SPYU.DE — Risk / Return Rank
EXS3.DE
SPYU.DE
EXS3.DE vs. SPYU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MDAX UCITS ETF (DE) (EXS3.DE) and SPDR MSCI Europe Utilities UCITS ETF (SPYU.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.
| EXS3.DE | SPYU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.53 | ||
| Sortino ratioReturn per unit of downside risk | -1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.33 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 3.59 | -3.25 |
| Martin ratioReturn relative to average drawdown | 0.91 | 10.13 | -9.22 |
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
| EXS3.DE | SPYU.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 1.79 | -1.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.06 | 0.73 | -0.79 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.62 | -0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.57 | -0.22 |
Drawdowns
EXS3.DE vs. SPYU.DE - Drawdown Comparison
The maximum EXS3.DE drawdown since its inception was -63.82%, which is greater than SPYU.DE's maximum drawdown of -32.98%. Use the drawdown chart below to compare losses from any high point for EXS3.DE and SPYU.DE.
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Drawdown Indicators
| EXS3.DE | SPYU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.82% | -32.98% | -30.84% |
Max Drawdown (1Y)Largest decline over 1 year | -14.57% | -7.43% | -7.14% |
Max Drawdown (3Y)Largest decline over 3 years | -18.67% | -13.44% | -5.23% |
Max Drawdown (5Y)Largest decline over 5 years | -40.31% | -22.28% | -18.03% |
Max Drawdown (10Y)Largest decline over 10 years | -40.31% | -32.98% | -7.33% |
Current DrawdownCurrent decline from peak | -12.23% | -5.24% | -6.99% |
Average DrawdownAverage peak-to-trough decline | -14.02% | -5.63% | -8.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.35% | 2.63% | +2.72% |
Volatility
EXS3.DE vs. SPYU.DE - Volatility Comparison
The current volatility for iShares MDAX UCITS ETF (DE) (EXS3.DE) is 4.94%, while SPDR MSCI Europe Utilities UCITS ETF (SPYU.DE) has a volatility of 5.85%. This indicates that EXS3.DE experiences smaller price fluctuations and is considered to be less risky than SPYU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXS3.DE | SPYU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 5.85% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 15.18% | 12.96% | +2.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.54% | 14.86% | +3.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.35% | 16.01% | +3.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.37% | 17.05% | +1.32% |
EXS3.DE vs. SPYU.DE - Expense Ratio Comparison
EXS3.DE has a 0.51% expense ratio, which is higher than SPYU.DE's 0.18% expense ratio.
Dividends
EXS3.DE vs. SPYU.DE - Dividend Comparison
Neither EXS3.DE nor SPYU.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXS3.DE iShares MDAX UCITS ETF (DE) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.41% | 0.49% | 0.53% | 0.49% |
SPYU.DE SPDR MSCI Europe Utilities UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EXS3.DE and SPYU.DE have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYU.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYU.DE is cheaper with a 0.18% expense ratio, compared with 0.51% for EXS3.DE.
EXS3.DE is categorized as Europe Equities, while SPYU.DE is Utilities Equities. EXS3.DE tracks MDAX®, while SPYU.DE tracks MSCI Europe Utilities 20/35 Capped. They also come from different issuers: iShares and State Street. Their fees differ too: 0.51% for EXS3.DE and 0.18% for SPYU.DE.
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