ITEC.L vs. SPY5.L
ITEC.L (SPDR® MSCI Europe Technology UCITS ETF) and SPY5.L (State Street SPDR S&P 500 UCITS ETF) are both exchange-traded funds - ITEC.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while SPY5.L is a S&P 500 fund tracking the S&P 500. Both are passively managed. Over the past 10 years, ITEC.L returned 16.38%/yr vs 15.10%/yr for SPY5.L. A 0.68 correlation means they provide meaningful diversification when combined. ITEC.L charges 0.18%/yr vs 0.09%/yr for SPY5.L.
Performance
ITEC.L vs. SPY5.L - Performance Comparison
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Different Trading Currencies
ITEC.L is traded in EUR, while SPY5.L is traded in USD. To make them comparable, the SPY5.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ITEC.L achieves a 50.84% return, which is significantly higher than SPY5.L's 11.57% return. Over the past 10 years, ITEC.L has outperformed SPY5.L with an annualized return of 16.38%, while SPY5.L has yielded a comparatively lower 15.10% annualized return.
ITEC.L
- 1D
- 0.11%
- 1M
- 20.47%
- YTD
- 50.84%
- 6M
- 47.59%
- 1Y
- 59.63%
- 3Y*
- 24.64%
- 5Y*
- 15.12%
- 10Y*
- 16.38%
SPY5.L
- 1D
- -0.13%
- 1M
- 5.19%
- YTD
- 11.57%
- 6M
- 11.46%
- 1Y
- 25.68%
- 3Y*
- 18.91%
- 5Y*
- 14.76%
- 10Y*
- 15.10%
ITEC.L vs. SPY5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITEC.L SPDR® MSCI Europe Technology UCITS ETF | 50.84% | 9.68% | 8.54% | 34.99% | -28.19% | 35.95% | 14.06% | 36.63% | -7.09% | 19.92% |
SPY5.L State Street SPDR S&P 500 UCITS ETF | 11.57% | 3.49% | 33.64% | 22.84% | -13.64% | 38.95% | 7.83% | 33.81% | -0.63% | 7.52% |
Correlation
The correlation between ITEC.L and SPY5.L 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 (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2014 | 0.68 |
The correlation between ITEC.L and SPY5.L has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.
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Return for Risk
ITEC.L vs. SPY5.L — Risk / Return Rank
ITEC.L
SPY5.L
ITEC.L vs. SPY5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR® MSCI Europe Technology UCITS ETF (ITEC.L) and State Street SPDR S&P 500 UCITS ETF (SPY5.L). 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.
| ITEC.L | SPY5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.39 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.54 | 3.63 | +0.91 |
| Martin ratioReturn relative to average drawdown | 12.02 | 12.49 | -0.47 |
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
| ITEC.L | SPY5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.33 | 2.08 | +0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.93 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.90 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.95 | -0.31 |
Drawdowns
ITEC.L vs. SPY5.L - Drawdown Comparison
The maximum ITEC.L drawdown since its inception was -38.49%, which is greater than SPY5.L's maximum drawdown of -33.39%. Use the drawdown chart below to compare losses from any high point for ITEC.L and SPY5.L.
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Drawdown Indicators
| ITEC.L | SPY5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.49% | -33.39% | -5.10% |
Max Drawdown (1Y)Largest decline over 1 year | -13.06% | -7.04% | -6.02% |
Max Drawdown (3Y)Largest decline over 3 years | -26.94% | -22.49% | -4.45% |
Max Drawdown (5Y)Largest decline over 5 years | -38.49% | -22.49% | -16.00% |
Max Drawdown (10Y)Largest decline over 10 years | -38.49% | -33.39% | -5.10% |
Current DrawdownCurrent decline from peak | -0.09% | -0.41% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -9.08% | -4.05% | -5.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.95% | 2.05% | +2.90% |
Volatility
ITEC.L vs. SPY5.L - Volatility Comparison
SPDR® MSCI Europe Technology UCITS ETF (ITEC.L) has a higher volatility of 10.27% compared to State Street SPDR S&P 500 UCITS ETF (SPY5.L) at 3.01%. This indicates that ITEC.L's price experiences larger fluctuations and is considered to be riskier than SPY5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITEC.L | SPY5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.27% | 3.01% | +7.26% |
Volatility (6M)Calculated over the trailing 6-month period | 20.59% | 8.54% | +12.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.53% | 12.28% | +13.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.71% | 15.89% | +9.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.09% | 16.68% | +7.41% |
ITEC.L vs. SPY5.L - Expense Ratio Comparison
ITEC.L has a 0.18% expense ratio, which is higher than SPY5.L's 0.09% 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
ITEC.L vs. SPY5.L - Dividend Comparison
ITEC.L has not paid dividends to shareholders, while SPY5.L's dividend yield for the trailing twelve months is around 0.89%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITEC.L SPDR® MSCI Europe Technology UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY5.L State Street SPDR S&P 500 UCITS ETF | 0.89% | 0.97% | 1.06% | 1.19% | 1.40% | 0.99% | 1.28% | 1.71% | 2.20% | 2.29% | 1.64% | 1.73% |
Frequently Asked Questions
ITEC.L and SPY5.L 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, SPY5.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPY5.L is cheaper with a 0.09% expense ratio, compared with 0.18% for ITEC.L.
ITEC.L is categorized as Technology Equities, while SPY5.L is S&P 500. ITEC.L tracks MSCI World/Information Tech NR USD, while SPY5.L tracks S&P 500. Their fees differ too: 0.18% for ITEC.L and 0.09% for SPY5.L.
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