IS31.DE vs. SPYL.DE
IS31.DE (iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc)) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both S&P 500 funds - IS31.DE tracks the S&P 500 Minimum Volatility Index (EUR Hedged) while SPYL.DE tracks the S&P 500 Index. Both are passively managed. Over the past year, IS31.DE returned 7.12% vs 23.84% for SPYL.DE. A 0.62 correlation means they provide meaningful diversification when combined. IS31.DE charges 0.25%/yr vs 0.03%/yr for SPYL.DE.
Performance
IS31.DE vs. SPYL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS31.DE achieves a 3.24% return, which is significantly lower than SPYL.DE's 11.99% 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*
- —
SPYL.DE
- 1D
- 0.00%
- 1M
- 0.41%
- 6M
- 12.78%
- YTD
- 11.99%
- 1Y
- 23.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IS31.DE vs. SPYL.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% | 9.89% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.99% | 4.71% | 32.33% | 8.23% |
Correlation
The correlation between IS31.DE and SPYL.DE is 0.62, 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 | 0.62 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.62 |
The correlation between IS31.DE and SPYL.DE has been stable across timeframes, ranging from 0.62 to 0.62 - a consistent structural relationship.
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Return for Risk
IS31.DE vs. SPYL.DE — Risk / Return Rank
IS31.DE
SPYL.DE
IS31.DE vs. SPYL.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 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.
| IS31.DE | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.37 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | 3.36 | -2.29 |
| Martin ratioReturn relative to average drawdown | 4.05 | 11.80 | -7.75 |
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Drawdowns
IS31.DE vs. SPYL.DE - Drawdown Comparison
The maximum IS31.DE drawdown since its inception was -33.66%, 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 IS31.DE and SPYL.DE.
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Drawdown Indicators
| IS31.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.66% | -23.27% | -10.39% |
Max Drawdown (1Y)Largest decline over 1 year | -6.64% | -7.13% | +0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -12.56% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -20.75% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.86% | +0.86% |
Average DrawdownAverage peak-to-trough decline | -4.85% | -3.31% | -1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.75% | 2.03% | -0.28% |
Volatility
IS31.DE vs. SPYL.DE - Volatility Comparison
The current volatility for iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc) (IS31.DE) is 2.94%, while State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) has a volatility of 3.64%. This indicates that IS31.DE experiences smaller price fluctuations and is considered to be less risky 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
| IS31.DE | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.94% | 3.64% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 6.51% | 8.15% | -1.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.76% | 12.03% | -3.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.78% | 15.00% | -2.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.38% | 15.00% | -0.62% |
IS31.DE vs. SPYL.DE - Expense Ratio Comparison
IS31.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
IS31.DE vs. SPYL.DE - Dividend Comparison
Neither IS31.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
IS31.DE and SPYL.DE have a correlation of 0.62, 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 0.25% for IS31.DE.
IS31.DE tracks S&P 500 Minimum Volatility Index (EUR Hedged), while SPYL.DE tracks S&P 500 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.25% for IS31.DE and 0.03% for SPYL.DE.
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