JUHE.DE vs. SPYL.DE
JUHE.DE (JPM US Research Enhanced Index Equity Active UCITS ETF EUR Hedged Acc) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - JUHE.DE is a Large Cap Blend Equities fund actively managed by JPMorgan, while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. JUHE.DE is actively managed, while SPYL.DE is passively managed. Over the past year, JUHE.DE returned 17.77% vs 23.25% for SPYL.DE. A 0.78 correlation means they provide meaningful diversification when combined. JUHE.DE charges 0.20%/yr vs 0.03%/yr for SPYL.DE.
Performance
JUHE.DE vs. SPYL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, JUHE.DE achieves a 7.89% return, which is significantly lower than SPYL.DE's 12.88% return.
JUHE.DE
- 1D
- 0.12%
- 1M
- 0.05%
- 6M
- 8.27%
- YTD
- 7.89%
- 1Y
- 17.77%
- 3Y*
- 17.13%
- 5Y*
- —
- 10Y*
- —
SPYL.DE
- 1D
- 0.00%
- 1M
- 1.25%
- 6M
- 11.87%
- YTD
- 12.88%
- 1Y
- 23.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JUHE.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JUHE.DE JPM US Research Enhanced Index Equity Active UCITS ETF EUR Hedged Acc | 7.89% | 14.34% | 23.03% | 13.28% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 12.88% | 4.71% | 32.33% | 8.23% |
Correlation
The correlation between JUHE.DE and SPYL.DE is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.78 |
The correlation between JUHE.DE and SPYL.DE has been stable across timeframes, ranging from 0.78 to 0.83 - a consistent structural relationship.
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Return for Risk
JUHE.DE vs. SPYL.DE — Risk / Return Rank
JUHE.DE
SPYL.DE
JUHE.DE vs. SPYL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPM US Research Enhanced Index Equity Active UCITS ETF EUR Hedged Acc (JUHE.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.
| JUHE.DE | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.36 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 3.28 | -1.07 |
| Martin ratioReturn relative to average drawdown | 8.94 | 11.51 | -2.58 |
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Drawdowns
JUHE.DE vs. SPYL.DE - Drawdown Comparison
The maximum JUHE.DE drawdown since its inception was -23.01%, roughly equal to the maximum SPYL.DE drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for JUHE.DE and SPYL.DE.
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Drawdown Indicators
| JUHE.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.01% | -23.27% | +0.26% |
Max Drawdown (1Y)Largest decline over 1 year | -8.56% | -7.13% | -1.43% |
Max Drawdown (3Y)Largest decline over 3 years | -19.02% | — | — |
Current DrawdownCurrent decline from peak | -0.72% | -0.41% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -5.99% | -3.27% | -2.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 2.03% | +0.08% |
Volatility
JUHE.DE vs. SPYL.DE - Volatility Comparison
JPM US Research Enhanced Index Equity Active UCITS ETF EUR Hedged Acc (JUHE.DE) and State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) have volatilities of 2.70% and 2.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JUHE.DE | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.70% | 2.80% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 9.11% | 8.09% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.95% | 12.01% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.09% | 14.93% | +1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.09% | 14.93% | +1.16% |
JUHE.DE vs. SPYL.DE - Expense Ratio Comparison
JUHE.DE has a 0.20% 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
JUHE.DE vs. SPYL.DE - Dividend Comparison
Neither JUHE.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
JUHE.DE and SPYL.DE have a correlation of 0.83, 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 0.20% for JUHE.DE.
JUHE.DE is categorized as Large Cap Blend Equities, while SPYL.DE is S&P 500. They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.20% for JUHE.DE and 0.03% for SPYL.DE.
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