SDEU.L vs. ^GSPC
SDEU.L (iShares Germany Government Bond UCITS ETF (Dist)) is European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, SDEU.L returned -0.47%/yr vs 14.21%/yr for ^GSPC. At a 0.09 correlation, their price movements are largely independent.
Performance
SDEU.L vs. ^GSPC - Performance Comparison
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Different Trading Currencies
SDEU.L is traded in GBP, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SDEU.L achieves a -1.35% return, which is significantly lower than ^GSPC's 9.24% return. Over the past 10 years, SDEU.L has underperformed ^GSPC with an annualized return of -0.47%, while ^GSPC has yielded a comparatively higher 14.21% annualized return.
SDEU.L
- 1D
- 0.07%
- 1M
- -0.11%
- YTD
- -1.35%
- 6M
- -0.95%
- 1Y
- 1.25%
- 3Y*
- 1.14%
- 5Y*
- -3.12%
- 10Y*
- -0.47%
^GSPC
- 1D
- 0.27%
- 1M
- 2.26%
- YTD
- 9.24%
- 6M
- 7.99%
- 1Y
- 25.11%
- 3Y*
- 17.53%
- 5Y*
- 13.17%
- 10Y*
- 14.21%
SDEU.L vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDEU.L iShares Germany Government Bond UCITS ETF (Dist) | -1.35% | 3.53% | -4.21% | 3.07% | -13.18% | -9.05% | 8.45% | -2.18% | 3.12% | 1.86% |
^GSPC S&P 500 Index | 9.24% | 8.10% | 25.46% | 18.02% | -9.86% | 28.09% | 12.84% | 23.98% | -0.68% | 9.09% |
Correlation
The correlation between SDEU.L and ^GSPC is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since May 9, 2012 | 0.09 |
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Return for Risk
SDEU.L vs. ^GSPC — Risk / Return Rank
SDEU.L
^GSPC
SDEU.L vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Germany Government Bond UCITS ETF (Dist) (SDEU.L) and S&P 500 Index (^GSPC). 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.
| SDEU.L | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.93 | ||
| Sortino ratioReturn per unit of downside risk | -2.42 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.41 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 0.29 | 3.14 | -2.85 |
| Martin ratioReturn relative to average drawdown | 0.60 | 11.69 | -11.09 |
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
| SDEU.L | ^GSPC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.24 | 2.17 | -1.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.42 | 0.83 | -1.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.05 | 0.79 | -0.84 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | 0.57 | -0.67 |
Drawdowns
SDEU.L vs. ^GSPC - Drawdown Comparison
The maximum SDEU.L drawdown since its inception was -27.60%, smaller than the maximum ^GSPC drawdown of -37.07%. Use the drawdown chart below to compare losses from any high point for SDEU.L and ^GSPC.
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Drawdown Indicators
| SDEU.L | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.60% | -37.07% | +9.47% |
Max Drawdown (1Y)Largest decline over 1 year | -4.23% | -8.03% | +3.80% |
Max Drawdown (3Y)Largest decline over 3 years | -7.01% | -22.15% | +15.14% |
Max Drawdown (5Y)Largest decline over 5 years | -20.62% | -22.15% | +1.53% |
Max Drawdown (10Y)Largest decline over 10 years | -27.60% | -26.01% | -1.59% |
Current DrawdownCurrent decline from peak | -23.64% | -1.78% | -21.86% |
Average DrawdownAverage peak-to-trough decline | -14.47% | -5.32% | -9.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 2.15% | -0.07% |
Volatility
SDEU.L vs. ^GSPC - Volatility Comparison
The current volatility for iShares Germany Government Bond UCITS ETF (Dist) (SDEU.L) is 1.56%, while S&P 500 Index (^GSPC) has a volatility of 3.34%. This indicates that SDEU.L experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDEU.L | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 3.34% | -1.78% |
Volatility (6M)Calculated over the trailing 6-month period | 3.76% | 8.43% | -4.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.11% | 11.64% | -6.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.38% | 15.88% | -8.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.60% | 18.17% | -9.57% |
Frequently Asked Questions
SDEU.L and ^GSPC have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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