FLXU.DE vs. SPYL.DE
FLXU.DE (Franklin U.S. Equity UCITS ETF) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - FLXU.DE is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, FLXU.DE returned 26.95% vs 25.56% for SPYL.DE. Their correlation of 0.89 suggests significant overlap in exposure. FLXU.DE charges 0.25%/yr vs 0.03%/yr for SPYL.DE.
Performance
FLXU.DE vs. SPYL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, FLXU.DE achieves a 12.87% return, which is significantly higher than SPYL.DE's 11.37% return.
FLXU.DE
- 1D
- -0.15%
- 1M
- 4.09%
- YTD
- 12.87%
- 6M
- 12.35%
- 1Y
- 26.95%
- 3Y*
- 15.56%
- 5Y*
- 13.12%
- 10Y*
- —
SPYL.DE
- 1D
- -0.15%
- 1M
- 4.36%
- YTD
- 11.37%
- 6M
- 10.86%
- 1Y
- 25.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FLXU.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FLXU.DE Franklin U.S. Equity UCITS ETF | 12.87% | 8.49% | 16.79% | 6.43% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.37% | 4.71% | 32.33% | 9.54% |
Correlation
The correlation between FLXU.DE and SPYL.DE is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.89 |
The correlation between FLXU.DE and SPYL.DE has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.
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Return for Risk
FLXU.DE vs. SPYL.DE — Risk / Return Rank
FLXU.DE
SPYL.DE
FLXU.DE vs. SPYL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin U.S. Equity UCITS ETF (FLXU.DE) 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.
| FLXU.DE | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.41 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.70 | 3.58 | +1.12 |
| Martin ratioReturn relative to average drawdown | 17.09 | 12.72 | +4.37 |
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
| FLXU.DE | SPYL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.23 | 2.21 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.94 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 1.54 | -0.64 |
Drawdowns
FLXU.DE vs. SPYL.DE - Drawdown Comparison
The maximum FLXU.DE drawdown since its inception was -32.92%, which is greater than SPYL.DE's maximum drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for FLXU.DE and SPYL.DE.
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Drawdown Indicators
| FLXU.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.92% | -23.27% | -9.65% |
Max Drawdown (1Y)Largest decline over 1 year | -5.76% | -7.13% | +1.37% |
Max Drawdown (3Y)Largest decline over 3 years | -23.04% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.04% | — | — |
Current DrawdownCurrent decline from peak | -0.15% | -0.46% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -3.24% | -0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 2.01% | -0.42% |
Volatility
FLXU.DE vs. SPYL.DE - Volatility Comparison
Franklin U.S. Equity UCITS ETF (FLXU.DE) has a higher volatility of 3.43% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 2.66%. This indicates that FLXU.DE'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
| FLXU.DE | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | 2.66% | +0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 8.59% | 7.57% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.12% | 11.52% | +0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.86% | 14.61% | -0.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.48% | 14.61% | +0.87% |
FLXU.DE vs. SPYL.DE - Expense Ratio Comparison
FLXU.DE has a 0.25% 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
FLXU.DE vs. SPYL.DE - Dividend Comparison
Neither FLXU.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, FLXU.DE and SPYL.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.25% for FLXU.DE.
FLXU.DE is categorized as Large Cap Blend Equities, while SPYL.DE is S&P 500. FLXU.DE tracks Russell 1000 TR USD, while SPYL.DE tracks S&P 500 Index. They also come from different issuers: Franklin Templeton and State Street. Their fees differ too: 0.25% for FLXU.DE and 0.03% for SPYL.DE.
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