IS31.DE vs. SPQH.DE
IS31.DE (iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc)) and SPQH.DE (Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating) are both exchange-traded funds - IS31.DE is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index (EUR Hedged), while SPQH.DE is a Defined Outcome fund tracking the Cboe S&P 500 15% WHT Quarterly 9% (-3% to -12%) Buffer Protect Index. Both are passively managed. Over the past 3 years, IS31.DE returned 10.62%/yr vs 6.55%/yr for SPQH.DE. At a 0.29 correlation, their price movements are largely independent. IS31.DE charges 0.25%/yr vs 0.50%/yr for SPQH.DE.
Performance
IS31.DE vs. SPQH.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IS31.DE achieves a 3.24% return, which is significantly higher than SPQH.DE's 2.79% return.
IS31.DE
- 1D
- 0.09%
- 1M
- 0.37%
- 6M
- 4.54%
- YTD
- 3.24%
- 1Y
- 7.12%
- 3Y*
- 10.62%
- 5Y*
- 5.98%
- 10Y*
- —
SPQH.DE
- 1D
- 0.00%
- 1M
- 1.12%
- 6M
- 3.56%
- YTD
- 2.79%
- 1Y
- 10.07%
- 3Y*
- 6.55%
- 5Y*
- —
- 10Y*
- —
IS31.DE vs. SPQH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IS31.DE iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc) | 3.24% | 9.27% | 16.79% | 6.48% |
SPQH.DE Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating | 2.79% | -4.41% | 21.88% | 0.96% |
Correlation
The correlation between IS31.DE and SPQH.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 (All Time) Calculated using the full available price history since Feb 21, 2023 | 0.29 |
The correlation between IS31.DE and SPQH.DE shifts across timeframes, from 0.19 (1 year) to 0.30 (3 years), 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
IS31.DE vs. SPQH.DE — Risk / Return Rank
IS31.DE
SPQH.DE
IS31.DE vs. SPQH.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc) (IS31.DE) and Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating (SPQH.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.
| IS31.DE | SPQH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.24 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | 3.20 | -2.14 |
| Martin ratioReturn relative to average drawdown | 4.05 | 7.87 | -3.83 |
Loading charts...
Drawdowns
IS31.DE vs. SPQH.DE - Drawdown Comparison
The maximum IS31.DE drawdown since its inception was -33.66%, which is greater than SPQH.DE's maximum drawdown of -17.68%. Use the drawdown chart below to compare losses from any high point for IS31.DE and SPQH.DE.
Loading charts...
Drawdown Indicators
| IS31.DE | SPQH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.66% | -17.68% | -15.98% |
Max Drawdown (1Y)Largest decline over 1 year | -6.64% | -3.16% | -3.48% |
Max Drawdown (3Y)Largest decline over 3 years | -12.56% | -17.68% | +5.12% |
Max Drawdown (5Y)Largest decline over 5 years | -20.75% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.86% | +3.86% |
Average DrawdownAverage peak-to-trough decline | -4.85% | -4.41% | -0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.75% | 1.28% | +0.47% |
Volatility
IS31.DE vs. SPQH.DE - Volatility Comparison
iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc) (IS31.DE) has a higher volatility of 2.94% compared to Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating (SPQH.DE) at 2.13%. This indicates that IS31.DE's price experiences larger fluctuations and is considered to be riskier than SPQH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IS31.DE | SPQH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.94% | 2.13% | +0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 6.51% | 4.67% | +1.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.76% | 7.43% | +1.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.78% | 11.06% | +1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.38% | 11.06% | +3.32% |
IS31.DE vs. SPQH.DE - Expense Ratio Comparison
IS31.DE has a 0.25% expense ratio, which is lower than SPQH.DE's 0.50% expense ratio.
Dividends
IS31.DE vs. SPQH.DE - Dividend Comparison
Neither IS31.DE nor SPQH.DE has paid dividends to shareholders.
Frequently Asked Questions
IS31.DE and SPQH.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, IS31.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS31.DE is cheaper with a 0.25% expense ratio, compared with 0.50% for SPQH.DE.
IS31.DE is categorized as S&P 500, while SPQH.DE is Defined Outcome. IS31.DE tracks S&P 500 Minimum Volatility Index (EUR Hedged), while SPQH.DE tracks Cboe S&P 500 15% WHT Quarterly 9% (-3% to -12%) Buffer Protect Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.25% for IS31.DE and 0.50% for SPQH.DE.
Find the right allocation for IS31.DE and SPQH.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