SPEU vs. SPYM

Last updated Jun 24, 2026

SPEU (SPDR Portfolio Europe ETF) and SPYM (State Street SPDR Portfolio S&P 500 ETF) are both exchange-traded funds - SPEU is a Europe Equities fund tracking the STOXX Europe Total Market Index, while SPYM is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SPEU returned 10.12%/yr vs 15.61%/yr for SPYM. A 0.69 correlation means they provide meaningful diversification when combined. SPEU charges 0.07%/yr vs 0.02%/yr for SPYM.

Performance

SPEU vs. SPYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Europe ETF (SPEU) and State Street SPDR Portfolio S&P 500 ETF (SPYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPEU achieves a 5.69% return, which is significantly lower than SPYM's 8.21% return. Over the past 10 years, SPEU has underperformed SPYM with an annualized return of 10.12%, while SPYM has yielded a comparatively higher 15.61% annualized return.

SPEU

• 1D: -1.28%
• 1M: -0.38%
• YTD: 5.69%
• 6M: 5.86%
• 1Y: 18.69%
• 3Y*: 16.48%
• 5Y*: 8.37%
• 10Y*: 10.12%

SPYM

• 1D: -1.44%
• 1M: -1.32%
• YTD: 8.21%
• 6M: 7.24%
• 1Y: 23.73%
• 3Y*: 20.77%
• 5Y*: 13.13%
• 10Y*: 15.61%

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

SPEU vs. SPYM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPEU SPDR Portfolio Europe ETF	5.69%	35.80%	1.93%	19.85%	-15.97%	16.20%	6.35%	26.15%	-13.79%	23.80%
SPYM State Street SPDR Portfolio S&P 500 ETF	8.21%	17.79%	25.00%	26.24%	-18.09%	28.78%	18.49%	31.99%	-4.78%	21.30%

Correlation

The correlation between SPEU and SPYM is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Nov 15, 2005	0.69

The correlation between SPEU and SPYM has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.

SPEU vs. SPYM - Sectors Allocation Comparison

Sectors	SPEU	SPYM
Financial Services	23.1%	11.9%
Industrials	20.0%	8.0%
Healthcare	11.2%	8.5%
Technology	10.1%	38.0%
Consumer Defensive	7.7%	4.6%
Consumer Cyclical	6.5%	9.4%
Basic Materials	6.0%	1.8%
Energy	5.5%	3.1%
Utilities	4.8%	2.6%
Communication Services	3.4%	10.1%
Real Estate	1.7%	1.8%

Return for Risk

SPEU vs. SPYM — Risk / Return Rank

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

SPEU

SPEU Risk / Return Rank: 34
SPEU Sharpe Ratio Rank: 34
SPEU Sortino Ratio Rank: 35
SPEU Omega Ratio Rank: 33
SPEU Calmar Ratio Rank: 32
SPEU Martin Ratio Rank: 38

SPYM

SPYM Risk / Return Rank: 59
SPYM Sharpe Ratio Rank: 59
SPYM Sortino Ratio Rank: 56
SPYM Omega Ratio Rank: 58
SPYM Calmar Ratio Rank: 56
SPYM Martin Ratio Rank: 67

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. SPYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Europe ETF (SPEU) and State Street SPDR Portfolio S&P 500 ETF (SPYM). 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.

	SPEU	SPYM	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.92	-0.73
Sortino ratio: Return per unit of downside risk	1.75	2.61	-0.85
Omega ratio: Gain probability vs. loss probability	1.21	1.35	-0.13
Calmar ratio: Return relative to maximum drawdown	1.55	2.68	-1.13
Martin ratio: Return relative to average drawdown	5.68	11.98	-6.30

SPEU vs. SPYM - Sharpe Ratio Comparison

The current SPEU Sharpe Ratio is 1.19, which is lower than the SPYM Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of SPEU and SPYM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPEU vs. SPYM - Drawdown Comparison

The maximum SPEU drawdown since its inception was -62.45%, which is greater than SPYM's maximum drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for SPEU and SPYM.

Drawdown Indicators

	SPEU	SPYM	Difference
Max Drawdown Largest peak-to-trough decline	-62.45%	-54.46%	-7.99%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-8.90%	-3.19%
Max Drawdown (3Y) Largest decline over 3 years	-14.17%	-18.72%	+4.55%
Max Drawdown (5Y) Largest decline over 5 years	-32.70%	-24.48%	-8.22%
Max Drawdown (10Y) Largest decline over 10 years	-36.83%	-33.87%	-2.96%
Current Drawdown Current decline from peak	-2.23%	-3.14%	+0.91%
Average Drawdown Average peak-to-trough decline	-13.82%	-7.14%	-6.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	1.99%	+1.31%

Volatility

SPEU vs. SPYM - Volatility Comparison

SPDR Portfolio Europe ETF (SPEU) and State Street SPDR Portfolio S&P 500 ETF (SPYM) have volatilities of 4.97% and 4.83%, 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.

Volatility by Period

	SPEU	SPYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.97%	4.83%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	13.42%	9.83%	+3.59%
Volatility (1Y) Calculated over the trailing 1-year period	15.82%	12.46%	+3.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.58%	16.90%	+0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.19%	18.03%	+0.16%

SPEU vs. SPYM - Expense Ratio Comparison

SPEU has a 0.07% expense ratio, which is higher than SPYM's 0.02% 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

SPEU vs. SPYM - Dividend Comparison

SPEU's dividend yield for the trailing twelve months is around 3.50%, more than SPYM's 1.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPEU SPDR Portfolio Europe ETF	3.50%	3.47%	3.29%	2.91%	3.08%	2.67%	2.29%	3.19%	3.99%	2.82%	3.66%	3.62%
SPYM State Street SPDR Portfolio S&P 500 ETF	1.30%	1.13%	1.28%	1.44%	1.69%	1.25%	1.54%	1.79%	2.23%	1.75%	1.97%	1.98%

Frequently Asked Questions

Can I hold both SPEU and SPYM in my portfolio?

SPEU and SPYM have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPEU or SPYM?

SPEU has higher volatility (4.97%) compared to SPYM (4.83%). In terms of maximum drawdown, SPEU dropped -62.45% vs SPYM's -54.46%.

Which ETF is better, SPEU or SPYM?

On 10-year performance, SPYM leads with 15.61% vs 10.12% for SPEU. On fees, SPYM is cheaper at 0.02% per year. On volatility, SPYM has been the lower-risk option at 4.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPEU or SPYM?

Over the 10-year period, SPYM has performed better with a 15.61% return vs 10.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPEU or SPYM?

SPYM is cheaper with a 0.02% expense ratio, compared with 0.07% for SPEU.

Which ETF pays a higher dividend yield, SPEU or SPYM?

SPEU has the higher dividend yield at 3.50%, compared with 1.30% for SPYM.

What is the main difference between SPEU and SPYM?

SPEU is categorized as Europe Equities, while SPYM is S&P 500. SPEU tracks STOXX Europe Total Market Index, while SPYM tracks S&P 500 Index. Their fees differ too: 0.07% for SPEU and 0.02% for SPYM.

Which has better risk-adjusted returns?

SPYM currently has the higher Sharpe Ratio (1.92 vs 1.19), 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.