ICGA.DE vs. SPYL.DE
ICGA.DE (iShares MSCI China UCITS ETF USD Acc) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - ICGA.DE is a China Equities fund tracking the MSCI China, while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, ICGA.DE returned 3.16% vs 26.53% for SPYL.DE. At a 0.26 correlation, their price movements are largely independent. ICGA.DE charges 0.28%/yr vs 0.03%/yr for SPYL.DE.
Performance
ICGA.DE vs. SPYL.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ICGA.DE achieves a -7.21% return, which is significantly lower than SPYL.DE's 11.37% return.
ICGA.DE
- 1D
- 1.03%
- 1M
- -2.20%
- YTD
- -7.21%
- 6M
- -6.68%
- 1Y
- 3.16%
- 3Y*
- 6.05%
- 5Y*
- -3.91%
- 10Y*
- —
SPYL.DE
- 1D
- -0.15%
- 1M
- 1.89%
- YTD
- 11.37%
- 6M
- 12.70%
- 1Y
- 26.53%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ICGA.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ICGA.DE iShares MSCI China UCITS ETF USD Acc | -7.21% | 16.59% | 27.32% | -4.05% |
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 ICGA.DE and SPYL.DE is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023 | 0.26 |
The correlation between ICGA.DE and SPYL.DE shifts across timeframes, from 0.26 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ICGA.DE vs. SPYL.DE — Risk / Return Rank
ICGA.DE
SPYL.DE
ICGA.DE vs. SPYL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China UCITS ETF USD Acc (ICGA.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.
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.
| ICGA.DE | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.41 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | 3.58 | -3.40 |
| Martin ratioReturn relative to average drawdown | 0.37 | 12.72 | -12.35 |
Loading charts...
Drawdowns
ICGA.DE vs. SPYL.DE - Drawdown Comparison
The maximum ICGA.DE drawdown since its inception was -55.91%, 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 ICGA.DE and SPYL.DE.
Loading charts...
Drawdown Indicators
| ICGA.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.91% | -23.27% | -32.64% |
Max Drawdown (1Y)Largest decline over 1 year | -17.50% | -7.13% | -10.37% |
Max Drawdown (3Y)Largest decline over 3 years | -24.29% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -49.29% | — | — |
Current DrawdownCurrent decline from peak | -32.83% | -0.46% | -32.37% |
Average DrawdownAverage peak-to-trough decline | -28.78% | -3.23% | -25.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.47% | 2.01% | +6.46% |
Volatility
ICGA.DE vs. SPYL.DE - Volatility Comparison
iShares MSCI China UCITS ETF USD Acc (ICGA.DE) has a higher volatility of 6.02% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 2.66%. This indicates that ICGA.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.
Loading charts...
Volatility by Period
| ICGA.DE | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.02% | 2.66% | +3.36% |
Volatility (6M)Calculated over the trailing 6-month period | 13.75% | 7.57% | +6.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.96% | 11.52% | +7.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.79% | 14.60% | +13.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.05% | 14.60% | +12.45% |
ICGA.DE vs. SPYL.DE - Expense Ratio Comparison
ICGA.DE has a 0.28% expense ratio, which is higher than SPYL.DE's 0.03% expense ratio.
Dividends
ICGA.DE vs. SPYL.DE - Dividend Comparison
Neither ICGA.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
ICGA.DE and SPYL.DE have a correlation of 0.38, 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 0.28% for ICGA.DE.
ICGA.DE is categorized as China Equities, while SPYL.DE is S&P 500. ICGA.DE tracks MSCI China, while SPYL.DE tracks S&P 500 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.28% for ICGA.DE and 0.03% for SPYL.DE.
Find the right allocation for ICGA.DE and SPYL.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer