SC0Z.DE vs. SPYU.DE
SC0Z.DE (Invesco European Utilities Sector UCITS ETF) and SPYU.DE (SPDR MSCI Europe Utilities UCITS ETF) are both Utilities Equities funds - SC0Z.DE tracks the STOXX® Europe 600 Optimised Utilities while SPYU.DE tracks the MSCI Europe Utilities 20/35 Capped. Both are passively managed. Over the past 10 years, SC0Z.DE returned 9.78%/yr vs 10.70%/yr for SPYU.DE. With a 0.99 correlation, they move nearly in lockstep. SC0Z.DE charges 0.20%/yr vs 0.18%/yr for SPYU.DE.
Performance
SC0Z.DE vs. SPYU.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SC0Z.DE having a 12.95% return and SPYU.DE slightly higher at 13.06%. Over the past 10 years, SC0Z.DE has underperformed SPYU.DE with an annualized return of 9.78%, while SPYU.DE has yielded a comparatively higher 10.70% annualized return.
SC0Z.DE
- 1D
- -0.22%
- 1M
- -3.25%
- YTD
- 12.95%
- 6M
- 14.19%
- 1Y
- 26.15%
- 3Y*
- 15.95%
- 5Y*
- 11.09%
- 10Y*
- 9.78%
SPYU.DE
- 1D
- -0.28%
- 1M
- -3.02%
- YTD
- 13.06%
- 6M
- 14.07%
- 1Y
- 26.75%
- 3Y*
- 16.61%
- 5Y*
- 11.82%
- 10Y*
- 10.70%
SC0Z.DE vs. SPYU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SC0Z.DE Invesco European Utilities Sector UCITS ETF | 12.95% | 32.73% | 0.20% | 13.45% | -9.07% | 8.96% | 9.52% | 29.64% | 0.81% | 8.10% |
SPYU.DE SPDR MSCI Europe Utilities UCITS ETF | 13.06% | 34.39% | 0.99% | 13.57% | -7.97% | 8.80% | 11.01% | 31.91% | 2.41% | 9.05% |
Correlation
The correlation between SC0Z.DE and SPYU.DE is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since May 14, 2013 | 0.99 |
The correlation between SC0Z.DE and SPYU.DE has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
SC0Z.DE vs. SPYU.DE — Risk / Return Rank
SC0Z.DE
SPYU.DE
SC0Z.DE vs. SPYU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco European Utilities Sector UCITS ETF (SC0Z.DE) and SPDR MSCI Europe Utilities UCITS ETF (SPYU.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.
| SC0Z.DE | SPYU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.33 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.49 | 3.59 | -0.10 |
| Martin ratioReturn relative to average drawdown | 9.42 | 10.13 | -0.71 |
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
| SC0Z.DE | SPYU.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.75 | 1.79 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.73 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.62 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.57 | -0.19 |
Drawdowns
SC0Z.DE vs. SPYU.DE - Drawdown Comparison
The maximum SC0Z.DE drawdown since its inception was -33.41%, roughly equal to the maximum SPYU.DE drawdown of -32.98%. Use the drawdown chart below to compare losses from any high point for SC0Z.DE and SPYU.DE.
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Drawdown Indicators
| SC0Z.DE | SPYU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.41% | -32.98% | -0.43% |
Max Drawdown (1Y)Largest decline over 1 year | -7.46% | -7.43% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -13.65% | -13.44% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -23.25% | -22.28% | -0.97% |
Max Drawdown (10Y)Largest decline over 10 years | -33.41% | -32.98% | -0.43% |
Current DrawdownCurrent decline from peak | -5.34% | -5.24% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -8.27% | -5.63% | -2.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 2.63% | +0.14% |
Volatility
SC0Z.DE vs. SPYU.DE - Volatility Comparison
Invesco European Utilities Sector UCITS ETF (SC0Z.DE) and SPDR MSCI Europe Utilities UCITS ETF (SPYU.DE) have volatilities of 5.96% and 5.85%, 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
| SC0Z.DE | SPYU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.96% | 5.85% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 12.97% | 12.96% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.87% | 14.86% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.23% | 16.01% | +0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.13% | 17.05% | +0.08% |
SC0Z.DE vs. SPYU.DE - Expense Ratio Comparison
SC0Z.DE has a 0.20% expense ratio, which is higher than SPYU.DE's 0.18% 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
SC0Z.DE vs. SPYU.DE - Dividend Comparison
Neither SC0Z.DE nor SPYU.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, SC0Z.DE and SPYU.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SPYU.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYU.DE is cheaper with a 0.18% expense ratio, compared with 0.20% for SC0Z.DE.
SC0Z.DE tracks STOXX® Europe 600 Optimised Utilities, while SPYU.DE tracks MSCI Europe Utilities 20/35 Capped. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.20% for SC0Z.DE and 0.18% for SPYU.DE.
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