SPEU vs. SPYE.DE

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR Portfolio Europe ETF (SPEU) and SPDR MSCI Europe UCITS ETF (SPYE.DE).

SPEU and SPYE.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPEU is a passively managed fund by State Street that tracks the performance of the STOXX Europe Total Market. It was launched on Oct 15, 2002. SPYE.DE is a passively managed fund by State Street that tracks the performance of the MSCI Europe. It was launched on Dec 5, 2014. Both SPEU and SPYE.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPEU vs. SPYE.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Europe ETF (SPEU) and SPDR MSCI Europe UCITS ETF (SPYE.DE). The values are adjusted to include any dividend payments, if applicable.

SPEU vs. SPYE.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPEU SPDR Portfolio Europe ETF	0.23%	35.80%	1.93%	19.85%	-15.97%	16.20%	6.35%	26.15%	-13.79%	23.80%
SPYE.DE SPDR MSCI Europe UCITS ETF	0.11%	35.83%	2.05%	19.15%	-14.41%	15.24%	6.21%	24.62%	-15.03%	26.11%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, SPEU achieves a 0.23% return, which is significantly higher than SPYE.DE's 0.11% return. Both investments have delivered pretty close results over the past 10 years, with SPEU having a 9.17% annualized return and SPYE.DE not far behind at 9.12%.

SPEU

• 1D: 1.50%
• 1M: -4.89%
• YTD: 0.23%
• 6M: 4.86%
• 1Y: 22.32%
• 3Y*: 14.72%
• 5Y*: 8.84%
• 10Y*: 9.17%

SPYE.DE

• 1D: 2.81%
• 1M: -4.69%
• YTD: 0.11%
• 6M: 5.40%
• 1Y: 21.82%
• 3Y*: 14.58%
• 5Y*: 9.47%
• 10Y*: 9.12%

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

SPEU vs. SPYE.DE - Expense Ratio Comparison

SPEU has a 0.09% expense ratio, which is lower than SPYE.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

SPYE.DE

SPDR MSCI Europe UCITS ETF

SPEU

SPDR Portfolio Europe ETF

Return for Risk

SPEU vs. SPYE.DE — Risk / Return Rank

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

SPEU

SPEU Risk / Return Rank: 70
SPEU Sharpe Ratio Rank: 71
SPEU Sortino Ratio Rank: 70
SPEU Omega Ratio Rank: 68
SPEU Calmar Ratio Rank: 71
SPEU Martin Ratio Rank: 67

SPYE.DE

SPYE.DE Risk / Return Rank: 45
SPYE.DE Sharpe Ratio Rank: 45
SPYE.DE Sortino Ratio Rank: 40
SPYE.DE Omega Ratio Rank: 46
SPYE.DE Calmar Ratio Rank: 46
SPYE.DE Martin Ratio Rank: 48

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.

SPEU vs. SPYE.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Europe ETF (SPEU) and SPDR MSCI Europe UCITS ETF (SPYE.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.

	SPEU	SPYE.DE	Difference
Sharpe ratio Return per unit of total volatility	1.30	1.25	+0.05
Sortino ratio Return per unit of downside risk	1.83	1.71	+0.12
Omega ratio Gain probability vs. loss probability	1.26	1.26	0.00
Calmar ratio Return relative to maximum drawdown	1.88	1.88	0.00
Martin ratio Return relative to average drawdown	7.13	6.87	+0.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPEU vs. SPYE.DE - Sharpe Ratio Comparison

The current SPEU Sharpe Ratio is 1.30, which is comparable to the SPYE.DE Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of SPEU and SPYE.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPEU	SPYE.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	1.25	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.54	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.51	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.40	-0.10

Correlation

The correlation between SPEU and SPYE.DE is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SPEU vs. SPYE.DE - Dividend Comparison

SPEU's dividend yield for the trailing twelve months is around 3.57%, while SPYE.DE has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPEU SPDR Portfolio Europe ETF	3.57%	3.47%	3.29%	2.91%	3.08%	2.67%	2.29%	3.19%	3.99%	2.82%	3.66%	3.62%
SPYE.DE SPDR MSCI Europe UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SPEU vs. SPYE.DE - Drawdown Comparison

The maximum SPEU drawdown since its inception was -62.45%, which is greater than SPYE.DE's maximum drawdown of -35.93%. Use the drawdown chart below to compare losses from any high point for SPEU and SPYE.DE.

Drawdown Indicators

	SPEU	SPYE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-62.45%	-35.54%	-26.91%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-12.64%	+0.55%
Max Drawdown (5Y) Largest decline over 5 years	-32.70%	-19.53%	-13.17%
Max Drawdown (10Y) Largest decline over 10 years	-36.83%	-35.54%	-1.29%
Current Drawdown Current decline from peak	-7.28%	-5.45%	-1.83%
Average Drawdown Average peak-to-trough decline	-13.92%	-5.40%	-8.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	2.65%	+0.54%

Volatility

SPEU vs. SPYE.DE - Volatility Comparison

SPDR Portfolio Europe ETF (SPEU) has a higher volatility of 7.27% compared to SPDR MSCI Europe UCITS ETF (SPYE.DE) at 6.09%. This indicates that SPEU's price experiences larger fluctuations and is considered to be riskier than SPYE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPEU	SPYE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.27%	6.09%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	10.99%	10.43%	+0.56%
Volatility (1Y) Calculated over the trailing 1-year period	17.21%	17.34%	-0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.32%	17.32%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.44%	17.76%	+0.68%