SPDW vs. EUHY
SPDW (SPDR Portfolio World ex-US ETF) and EUHY (iShares Euro High Yield Corporate Bond USD Hedged ETF) are both exchange-traded funds - SPDW is a Foreign Large Cap Equities fund tracking the S&P Developed Ex-U.S. BMI Index, while EUHY is a High Yield Bonds fund tracking the BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index. Both are passively managed. Over the past 10 years, SPDW returned 10.06%/yr vs 3.68%/yr for EUHY. A 0.52 correlation means they provide meaningful diversification when combined. SPDW charges 0.04%/yr vs 0.35%/yr for EUHY.
Performance
SPDW vs. EUHY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPDW achieves a 12.18% return, which is significantly higher than EUHY's 1.70% return. Over the past 10 years, SPDW has outperformed EUHY with an annualized return of 10.06%, while EUHY has yielded a comparatively lower 3.68% annualized return.
SPDW
- 1D
- 0.99%
- 1M
- -1.17%
- YTD
- 12.18%
- 6M
- 14.96%
- 1Y
- 27.89%
- 3Y*
- 18.62%
- 5Y*
- 8.90%
- 10Y*
- 10.06%
EUHY
- 1D
- -0.12%
- 1M
- 0.05%
- YTD
- 1.70%
- 6M
- 2.27%
- 1Y
- 5.47%
- 3Y*
- 9.44%
- 5Y*
- 1.82%
- 10Y*
- 3.68%
SPDW vs. EUHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPDW SPDR Portfolio World ex-US ETF | 12.18% | 34.75% | 3.55% | 17.81% | -15.98% | 11.45% | 9.90% | 22.41% | -14.22% | 25.81% |
EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 1.70% | 17.41% | -0.55% | 16.06% | -15.59% | -3.78% | 10.69% | 8.60% | -7.71% | 19.68% |
Correlation
The correlation between SPDW and EUHY is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2012 | 0.52 |
The correlation between SPDW and EUHY shifts across timeframes, from 0.52 (all time) to 0.70 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPDW vs. EUHY — Risk / Return Rank
SPDW
EUHY
SPDW vs. EUHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio World ex-US ETF (SPDW) and iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY). 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.
| SPDW | EUHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.19 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 1.57 | +0.86 |
| Martin ratioReturn relative to average drawdown | 9.42 | 3.75 | +5.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SPDW | EUHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.74 | 1.00 | +0.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.18 | +0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.35 | +0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.34 | -0.11 |
Drawdowns
SPDW vs. EUHY - Drawdown Comparison
The maximum SPDW drawdown since its inception was -60.02%, which is greater than EUHY's maximum drawdown of -32.45%. Use the drawdown chart below to compare losses from any high point for SPDW and EUHY.
Loading charts...
Drawdown Indicators
| SPDW | EUHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.02% | -32.45% | -27.57% |
Max Drawdown (1Y)Largest decline over 1 year | -11.55% | -3.50% | -8.05% |
Max Drawdown (3Y)Largest decline over 3 years | -13.53% | -8.23% | -5.30% |
Max Drawdown (5Y)Largest decline over 5 years | -30.21% | -32.45% | +2.24% |
Max Drawdown (10Y)Largest decline over 10 years | -34.98% | -32.45% | -2.53% |
Current DrawdownCurrent decline from peak | -3.30% | -0.38% | -2.92% |
Average DrawdownAverage peak-to-trough decline | -12.90% | -8.58% | -4.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | 1.46% | +1.51% |
Volatility
SPDW vs. EUHY - Volatility Comparison
SPDR Portfolio World ex-US ETF (SPDW) has a higher volatility of 6.07% compared to iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) at 1.03%. This indicates that SPDW's price experiences larger fluctuations and is considered to be riskier than EUHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPDW | EUHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.07% | 1.03% | +5.04% |
Volatility (6M)Calculated over the trailing 6-month period | 13.76% | 2.89% | +10.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.09% | 5.51% | +10.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.58% | 10.00% | +6.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.30% | 10.42% | +6.88% |
SPDW vs. EUHY - Expense Ratio Comparison
SPDW has a 0.04% expense ratio, which is lower than EUHY's 0.35% expense ratio.
Dividends
SPDW vs. EUHY - Dividend Comparison
SPDW's dividend yield for the trailing twelve months is around 2.94%, less than EUHY's 5.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 5.35% | 3.56% | 5.11% | 3.38% | 0.61% | 3.07% | 1.45% | 1.19% | 4.01% | 0.69% | 1.70% | 3.24% |
SPDW SPDR Portfolio World ex-US ETF | 2.94% | 3.30% | 3.19% | 2.75% | 3.12% | 3.04% | 1.87% | 3.13% | 3.08% | 1.86% | 3.11% | 2.78% |
Frequently Asked Questions
SPDW and EUHY have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPDW has higher volatility (6.07%) compared to EUHY (1.03%). In terms of maximum drawdown, SPDW dropped -60.02% vs EUHY's -32.45%.
On 10-year performance, SPDW leads with 10.06% vs 3.68% for EUHY. On fees, SPDW is cheaper at 0.04% per year. On volatility, EUHY has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPDW has performed better with a 10.06% return vs 3.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPDW is cheaper with a 0.04% expense ratio, compared with 0.35% for EUHY.
EUHY has the higher dividend yield at 5.35%, compared with 2.94% for SPDW.
SPDW is categorized as Foreign Large Cap Equities, while EUHY is High Yield Bonds. SPDW tracks S&P Developed Ex-U.S. BMI Index, while EUHY tracks BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.04% for SPDW and 0.35% for EUHY.
SPDW currently has the higher Sharpe Ratio (1.74 vs 1.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for SPDW and EUHY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer