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 -1.37%/yr vs 12.82%/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 -3.18% return, which is significantly lower than ^GSPC's 9.05% return. Over the past 10 years, SDEU.L has underperformed ^GSPC with an annualized return of -1.37%, while ^GSPC has yielded a comparatively higher 12.82% annualized return.
SDEU.L
- 1D
- -0.17%
- 1M
- -2.62%
- 6M
- -2.80%
- YTD
- -3.18%
- 1Y
- -2.91%
- 3Y*
- 0.15%
- 5Y*
- -3.75%
- 10Y*
- -1.37%
- ALL TIME*
- -1.12%
^GSPC
- 1D
- -0.04%
- 1M
- -2.42%
- 6M
- 6.80%
- YTD
- 9.05%
- 1Y
- 18.10%
- 3Y*
- 16.23%
- 5Y*
- 11.76%
- 10Y*
- 12.82%
- ALL TIME*
- 11.35%
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) | -3.18% | 3.53% | -4.21% | 3.07% | -13.18% | -9.05% | 8.45% | -2.18% | 3.12% | 1.86% |
^GSPC S&P 500 Index | 9.05% | 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 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since May 8, 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.
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.
| SDEU.L | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.09 | ||
| Sortino ratioReturn per unit of downside risk | -2.81 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.28 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | 2.26 | -2.79 |
| Martin ratioReturn relative to average drawdown | -1.19 | 8.20 | -9.39 |
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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 | -5.45% | -8.03% | +2.58% |
Max Drawdown (3Y)Largest decline over 3 years | -7.01% | -22.15% | +15.14% |
Max Drawdown (5Y)Largest decline over 5 years | -20.47% | -22.15% | +1.68% |
Max Drawdown (10Y)Largest decline over 10 years | -27.60% | -26.01% | -1.59% |
Current DrawdownCurrent decline from peak | -25.05% | -2.42% | -22.63% |
Average DrawdownAverage peak-to-trough decline | -14.54% | -5.29% | -9.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 2.21% | +0.23% |
Volatility
SDEU.L vs. ^GSPC - Volatility Comparison
The current volatility for iShares Germany Government Bond UCITS ETF (Dist) (SDEU.L) is 1.44%, while S&P 500 Index (^GSPC) has a volatility of 3.01%. 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 | 1.44% | 3.01% | -1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 3.92% | 8.99% | -5.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.02% | 12.08% | -7.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.36% | 15.94% | -8.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.06% | 18.05% | -9.99% |
Frequently Asked Questions
SDEU.L and ^GSPC have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for SDEU.L and ^GSPC
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