S188.DE vs. SPSM

Last updated Jun 5, 2026

S188.DE (SMT Scharf AG) is a stock, while SPSM (SPDR Portfolio S&P 600 Small Cap ETF) is Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index. Over the past 10 years, S188.DE returned -3.53%/yr vs 10.36%/yr for SPSM. At a 0.08 correlation, their price movements are largely independent.

Performance

S188.DE vs. SPSM - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SMT Scharf AG (S188.DE) and SPDR Portfolio S&P 600 Small Cap ETF (SPSM). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

S188.DE is traded in EUR, while SPSM is traded in USD. To make them comparable, the SPSM values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, S188.DE achieves a 23.48% return, which is significantly higher than SPSM's 16.97% return. Over the past 10 years, S188.DE has underperformed SPSM with an annualized return of -3.53%, while SPSM has yielded a comparatively higher 10.36% annualized return.

S188.DE

• 1D: 2.16%
• 1M: -2.74%
• YTD: 23.48%
• 6M: 22.41%
• 1Y: 10.08%
• 3Y*: -8.36%
• 5Y*: -5.88%
• 10Y*: -3.53%

SPSM

• 1D: -0.99%
• 1M: 1.07%
• YTD: 16.97%
• 6M: 15.10%
• 1Y: 30.34%
• 3Y*: 11.17%
• 5Y*: 6.77%
• 10Y*: 10.36%

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

S188.DE vs. SPSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
S188.DE SMT Scharf AG	23.48%	-17.76%	12.50%	-44.83%	-18.31%	68.64%	-13.20%	-15.25%	-20.65%	7.36%
SPSM SPDR Portfolio S&P 600 Small Cap ETF	16.97%	-6.48%	15.71%	12.63%	-10.92%	36.15%	2.48%	28.70%	-7.00%	1.25%

Correlation

The correlation between S188.DE and SPSM is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jul 10, 2013	0.08

The correlation between S188.DE and SPSM shifts across timeframes, from -0.07 (1 year) to 0.08 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

S188.DE vs. SPSM — Risk / Return Rank

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

S188.DE

S188.DE Risk / Return Rank: 49
S188.DE Sharpe Ratio Rank: 52
S188.DE Sortino Ratio Rank: 49
S188.DE Omega Ratio Rank: 49
S188.DE Calmar Ratio Rank: 49
S188.DE Martin Ratio Rank: 47

SPSM

SPSM Risk / Return Rank: 60
SPSM Sharpe Ratio Rank: 54
SPSM Sortino Ratio Rank: 56
SPSM Omega Ratio Rank: 50
SPSM Calmar Ratio Rank: 73
SPSM Martin Ratio Rank: 67

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.

S188.DE vs. SPSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SMT Scharf AG (S188.DE) and SPDR Portfolio S&P 600 Small Cap ETF (SPSM). 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.

	S188.DE	SPSM	Difference
Sharpe ratio: Return per unit of total volatility	0.28	1.78	-1.49
Sortino ratio: Return per unit of downside risk	0.78	2.49	-1.71
Omega ratio: Gain probability vs. loss probability	1.10	1.31	-0.20
Calmar ratio: Return relative to maximum drawdown	0.30	4.51	-4.20
Martin ratio: Return relative to average drawdown	0.51	14.34	-13.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

S188.DE vs. SPSM - Sharpe Ratio Comparison

The current S188.DE Sharpe Ratio is 0.28, which is lower than the SPSM Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of S188.DE and SPSM, 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

	S188.DE	SPSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.28	1.78	-1.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.15	0.32	-0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.09	0.45	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	0.47	-0.47

Drawdowns

S188.DE vs. SPSM - Drawdown Comparison

The maximum S188.DE drawdown since its inception was -77.46%, which is greater than SPSM's maximum drawdown of -41.38%. Use the drawdown chart below to compare losses from any high point for S188.DE and SPSM.

Drawdown Indicators

	S188.DE	SPSM	Difference
Max Drawdown Largest peak-to-trough decline	-77.46%	-41.38%	-36.08%
Max Drawdown (1Y) Largest decline over 1 year	-39.01%	-6.76%	-32.25%
Max Drawdown (3Y) Largest decline over 3 years	-43.37%	-31.59%	-11.78%
Max Drawdown (5Y) Largest decline over 5 years	-65.09%	-31.59%	-33.50%
Max Drawdown (10Y) Largest decline over 10 years	-68.04%	-41.38%	-26.66%
Current Drawdown Current decline from peak	-70.30%	-0.99%	-69.31%
Average Drawdown Average peak-to-trough decline	-40.17%	-7.96%	-32.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.27%	2.12%	+21.15%

Volatility

S188.DE vs. SPSM - Volatility Comparison

SMT Scharf AG (S188.DE) has a higher volatility of 5.31% compared to SPDR Portfolio S&P 600 Small Cap ETF (SPSM) at 3.96%. This indicates that S188.DE's price experiences larger fluctuations and is considered to be riskier than SPSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	S188.DE	SPSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	3.96%	+1.35%
Volatility (6M) Calculated over the trailing 6-month period	31.58%	11.43%	+20.15%
Volatility (1Y) Calculated over the trailing 1-year period	41.57%	17.17%	+24.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.11%	21.01%	+19.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.35%	23.24%	+14.11%

Dividends

S188.DE vs. SPSM - Dividend Comparison

S188.DE has not paid dividends to shareholders, while SPSM's dividend yield for the trailing twelve months is around 1.43%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
S188.DE SMT Scharf AG	0.00%	3.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPSM SPDR Portfolio S&P 600 Small Cap ETF	1.43%	1.62%	1.85%	1.61%	1.38%	1.40%	1.34%	1.58%	1.82%	1.51%	1.49%	2.37%

Frequently Asked Questions

Can I hold both S188.DE and SPSM in my portfolio?

S188.DE and SPSM have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.