GMVM.DE vs. SPYL.DE
GMVM.DE (VanEck Morningstar US Sustainable Wide Moat UCITS ETF) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - GMVM.DE is a Large Cap Blend Equities fund tracking the Morningstar US Sustainable Moat Focus, while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, GMVM.DE returned 6.57% vs 25.56% for SPYL.DE. A 0.73 correlation means they provide meaningful diversification when combined. GMVM.DE charges 0.49%/yr vs 0.03%/yr for SPYL.DE.
Performance
GMVM.DE vs. SPYL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GMVM.DE achieves a -1.57% return, which is significantly lower than SPYL.DE's 11.37% return.
GMVM.DE
- 1D
- 0.97%
- 1M
- 2.94%
- YTD
- -1.57%
- 6M
- -3.00%
- 1Y
- 6.57%
- 3Y*
- 5.24%
- 5Y*
- 4.14%
- 10Y*
- 10.29%
SPYL.DE
- 1D
- -0.15%
- 1M
- 4.36%
- YTD
- 11.37%
- 6M
- 10.86%
- 1Y
- 25.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GMVM.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GMVM.DE VanEck Morningstar US Sustainable Wide Moat UCITS ETF | -1.57% | -4.56% | 17.59% | 11.78% |
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 GMVM.DE and SPYL.DE is 0.60, 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 | 0.60 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.73 |
The correlation between GMVM.DE and SPYL.DE shifts across timeframes, from 0.60 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GMVM.DE vs. SPYL.DE — Risk / Return Rank
GMVM.DE
SPYL.DE
GMVM.DE vs. SPYL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar US Sustainable Wide Moat UCITS ETF (GMVM.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.
| GMVM.DE | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.22 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.41 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.58 | 3.58 | -2.99 |
| Martin ratioReturn relative to average drawdown | 1.37 | 12.72 | -11.35 |
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
| GMVM.DE | SPYL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.48 | 2.21 | -1.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 1.54 | -0.92 |
Drawdowns
GMVM.DE vs. SPYL.DE - Drawdown Comparison
The maximum GMVM.DE drawdown since its inception was -32.25%, 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 GMVM.DE and SPYL.DE.
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Drawdown Indicators
| GMVM.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.25% | -23.27% | -8.98% |
Max Drawdown (1Y)Largest decline over 1 year | -11.00% | -7.13% | -3.87% |
Max Drawdown (3Y)Largest decline over 3 years | -25.74% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -25.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.25% | — | — |
Current DrawdownCurrent decline from peak | -10.18% | -0.46% | -9.72% |
Average DrawdownAverage peak-to-trough decline | -5.85% | -3.24% | -2.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.69% | 2.01% | +2.68% |
Volatility
GMVM.DE vs. SPYL.DE - Volatility Comparison
VanEck Morningstar US Sustainable Wide Moat UCITS ETF (GMVM.DE) has a higher volatility of 3.23% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 2.66%. This indicates that GMVM.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
| GMVM.DE | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.23% | 2.66% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 8.82% | 7.57% | +1.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.33% | 11.52% | +1.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.26% | 14.61% | +0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.54% | 14.61% | +1.93% |
GMVM.DE vs. SPYL.DE - Expense Ratio Comparison
GMVM.DE has a 0.49% expense ratio, which is higher than SPYL.DE's 0.03% expense ratio.
Dividends
GMVM.DE vs. SPYL.DE - Dividend Comparison
Neither GMVM.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
GMVM.DE and SPYL.DE have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.49% for GMVM.DE.
GMVM.DE is categorized as Large Cap Blend Equities, while SPYL.DE is S&P 500. GMVM.DE tracks Morningstar US Sustainable Moat Focus, while SPYL.DE tracks S&P 500 Index. They also come from different issuers: VanEck and State Street. Their fees differ too: 0.49% for GMVM.DE and 0.03% for SPYL.DE.
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