LEEU.DE vs. SPY2.DE

Last updated Jun 5, 2026

LEEU.DE (Amundi FTSE EPRA Europe Real Estate UCITS ETF Dist) and SPY2.DE (SPDR Dow Jones Global Real Estate UCITS ETF Accumulating) are both REIT funds - LEEU.DE tracks the FTSE EPRA/NAREIT Developed Europe while SPY2.DE tracks the Dow Jones Global Select Real Estate Securities. Both are passively managed. Over the past 5 years, LEEU.DE returned -4.92%/yr vs 2.27%/yr for SPY2.DE. A 0.65 correlation means they provide meaningful diversification when combined. LEEU.DE charges 0.30%/yr vs 0.40%/yr for SPY2.DE.

Performance

LEEU.DE vs. SPY2.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi FTSE EPRA Europe Real Estate UCITS ETF Dist (LEEU.DE) and SPDR Dow Jones Global Real Estate UCITS ETF Accumulating (SPY2.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LEEU.DE achieves a -1.07% return, which is significantly lower than SPY2.DE's 8.38% return.

LEEU.DE

• 1D: 0.53%
• 1M: -2.85%
• YTD: -1.07%
• 6M: 0.10%
• 1Y: -2.90%
• 3Y*: 6.48%
• 5Y*: -4.92%
• 10Y*: -0.33%

SPY2.DE

• 1D: 0.10%
• 1M: -1.74%
• YTD: 8.38%
• 6M: 7.43%
• 1Y: 10.30%
• 3Y*: 5.92%
• 5Y*: 2.27%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

LEEU.DE vs. SPY2.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LEEU.DE Amundi FTSE EPRA Europe Real Estate UCITS ETF Dist	-1.07%	6.43%	-4.44%	16.06%	-38.11%	16.71%	-8.35%	4.61%
SPY2.DE SPDR Dow Jones Global Real Estate UCITS ETF Accumulating	8.38%	-2.42%	5.09%	7.66%	-20.98%	41.62%	-18.78%	-1.52%

Correlation

The correlation between LEEU.DE and SPY2.DE is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Oct 18, 2019	0.65

The correlation between LEEU.DE and SPY2.DE has been stable across timeframes, ranging from 0.60 to 0.65 - a consistent structural relationship.

Return for Risk

LEEU.DE vs. SPY2.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LEEU.DE

LEEU.DE Risk / Return Rank: 7
LEEU.DE Sharpe Ratio Rank: 7
LEEU.DE Sortino Ratio Rank: 7
LEEU.DE Omega Ratio Rank: 7
LEEU.DE Calmar Ratio Rank: 7
LEEU.DE Martin Ratio Rank: 7

SPY2.DE

SPY2.DE Risk / Return Rank: 27
SPY2.DE Sharpe Ratio Rank: 25
SPY2.DE Sortino Ratio Rank: 24
SPY2.DE Omega Ratio Rank: 24
SPY2.DE Calmar Ratio Rank: 31
SPY2.DE Martin Ratio Rank: 30

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LEEU.DE vs. SPY2.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi FTSE EPRA Europe Real Estate UCITS ETF Dist (LEEU.DE) and SPDR Dow Jones Global Real Estate UCITS ETF Accumulating (SPY2.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.

	LEEU.DE	SPY2.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.18	0.89	-1.07
Sortino ratio: Return per unit of downside risk	-0.14	1.26	-1.40
Omega ratio: Gain probability vs. loss probability	0.98	1.16	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.18	1.48	-1.67
Martin ratio: Return relative to average drawdown	-0.46	4.38	-4.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LEEU.DE vs. SPY2.DE - Sharpe Ratio Comparison

The current LEEU.DE Sharpe Ratio is -0.18, which is lower than the SPY2.DE Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of LEEU.DE and SPY2.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LEEU.DE	SPY2.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.18	0.89	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.22	0.15	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.02	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.05	+0.14

Drawdowns

LEEU.DE vs. SPY2.DE - Drawdown Comparison

The maximum LEEU.DE drawdown since its inception was -48.13%, which is greater than SPY2.DE's maximum drawdown of -42.59%. Use the drawdown chart below to compare losses from any high point for LEEU.DE and SPY2.DE.

Drawdown Indicators

	LEEU.DE	SPY2.DE	Difference
Max Drawdown Largest peak-to-trough decline	-48.13%	-42.59%	-5.54%
Max Drawdown (1Y) Largest decline over 1 year	-15.66%	-6.86%	-8.80%
Max Drawdown (3Y) Largest decline over 3 years	-21.66%	-20.14%	-1.52%
Max Drawdown (5Y) Largest decline over 5 years	-48.13%	-30.72%	-17.41%
Max Drawdown (10Y) Largest decline over 10 years	-48.13%	—	—
Current Drawdown Current decline from peak	-29.86%	-7.69%	-22.17%
Average Drawdown Average peak-to-trough decline	-14.36%	-15.50%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.27%	2.33%	+3.94%

Volatility

LEEU.DE vs. SPY2.DE - Volatility Comparison

Amundi FTSE EPRA Europe Real Estate UCITS ETF Dist (LEEU.DE) has a higher volatility of 4.58% compared to SPDR Dow Jones Global Real Estate UCITS ETF Accumulating (SPY2.DE) at 2.82%. This indicates that LEEU.DE's price experiences larger fluctuations and is considered to be riskier than SPY2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LEEU.DE	SPY2.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.58%	2.82%	+1.76%
Volatility (6M) Calculated over the trailing 6-month period	13.17%	8.57%	+4.60%
Volatility (1Y) Calculated over the trailing 1-year period	16.03%	11.46%	+4.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.81%	15.06%	+6.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.09%	19.91%	+0.18%

LEEU.DE vs. SPY2.DE - Expense Ratio Comparison

LEEU.DE has a 0.30% expense ratio, which is lower than SPY2.DE's 0.40% expense ratio.

Dividends

LEEU.DE vs. SPY2.DE - Dividend Comparison

LEEU.DE's dividend yield for the trailing twelve months is around 2.77%, while SPY2.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LEEU.DE Amundi FTSE EPRA Europe Real Estate UCITS ETF Dist	2.77%	2.74%	4.56%	4.24%	3.83%	2.42%	2.75%	3.13%	4.02%	3.18%	3.62%	3.20%
SPY2.DE SPDR Dow Jones Global Real Estate UCITS ETF Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LEEU.DE and SPY2.DE in my portfolio?

LEEU.DE and SPY2.DE have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LEEU.DE or SPY2.DE?

On fees, LEEU.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LEEU.DE or SPY2.DE?

LEEU.DE is cheaper with a 0.30% expense ratio, compared with 0.40% for SPY2.DE.

What is the main difference between LEEU.DE and SPY2.DE?

LEEU.DE tracks FTSE EPRA/NAREIT Developed Europe, while SPY2.DE tracks Dow Jones Global Select Real Estate Securities. They also come from different issuers: Amundi and State Street. Their fees differ too: 0.30% for LEEU.DE and 0.40% for SPY2.DE.