SPFU.DE vs. SPPW.DE

Last updated Jul 4, 2026

SPFU.DE (State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist)) and SPPW.DE (SPDR MSCI World UCITS ETF) are both exchange-traded funds - SPFU.DE is a Global Bonds fund tracking the Bloomberg Global Aggregate Bond Index (USD Hedged), while SPPW.DE is a Global Equities fund tracking the MSCI World. Both are passively managed. Over the past 5 years, SPFU.DE returned 0.64%/yr vs 11.57%/yr for SPPW.DE. At a 0.06 correlation, their price movements are largely independent. SPFU.DE charges 0.10%/yr vs 0.12%/yr for SPPW.DE.

Performance

SPFU.DE vs. SPPW.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist) (SPFU.DE) and SPDR MSCI World UCITS ETF (SPPW.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, SPFU.DE achieves a 0.93% return, which is significantly lower than SPPW.DE's 9.51% return.

SPFU.DE

• 1D: -0.07%
• 1M: 0.53%
• 6M: 1.10%
• YTD: 0.93%
• 1Y: 3.02%
• 3Y*: 4.29%
• 5Y*: 0.64%
• 10Y*: —

SPPW.DE

• 1D: 0.41%
• 1M: 0.07%
• 6M: 10.07%
• YTD: 9.51%
• 1Y: 20.97%
• 3Y*: 19.61%
• 5Y*: 11.57%
• 10Y*: —

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

SPFU.DE vs. SPPW.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPFU.DE State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist)	0.93%	4.89%	3.05%	6.77%	-11.22%	-1.54%	5.34%	6.52%
SPPW.DE SPDR MSCI World UCITS ETF	9.51%	21.97%	18.89%	24.04%	-18.05%	22.18%	15.58%	1.28%

Correlation

The correlation between SPFU.DE and SPPW.DE is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Feb 26, 2019	0.06

Over the past year, SPFU.DE and SPPW.DE have become more correlated (0.38) than their long-term average of 0.06, meaning their price movements have been converging.

Return for Risk

SPFU.DE vs. SPPW.DE — Risk / Return Rank

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

SPFU.DE

SPFU.DE Risk / Return Rank: 30
SPFU.DE Sharpe Ratio Rank: 31
SPFU.DE Sortino Ratio Rank: 31
SPFU.DE Omega Ratio Rank: 29
SPFU.DE Calmar Ratio Rank: 31
SPFU.DE Martin Ratio Rank: 30

SPPW.DE

SPPW.DE Risk / Return Rank: 83
SPPW.DE Sharpe Ratio Rank: 82
SPPW.DE Sortino Ratio Rank: 82
SPPW.DE Omega Ratio Rank: 82
SPPW.DE Calmar Ratio Rank: 84
SPPW.DE Martin Ratio Rank: 87

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.

SPFU.DE vs. SPPW.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist) (SPFU.DE) and SPDR MSCI World UCITS ETF (SPPW.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.

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.

	SPFU.DE	SPPW.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.99	1.75	-0.75
Sortino ratio: Return per unit of downside risk	1.48	2.57	-1.09
Omega ratio: Gain probability vs. loss probability	1.18	1.31	-0.13
Calmar ratio: Return relative to maximum drawdown	1.34	2.48	-1.13
Martin ratio: Return relative to average drawdown	3.75	10.32	-6.57

SPFU.DE vs. SPPW.DE - Sharpe Ratio Comparison

The current SPFU.DE Sharpe Ratio is 0.99, which is lower than the SPPW.DE Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of SPFU.DE and SPPW.DE, 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

SPFU.DE vs. SPPW.DE - Drawdown Comparison

The maximum SPFU.DE drawdown since its inception was -15.24%, smaller than the maximum SPPW.DE drawdown of -34.17%. Use the drawdown chart below to compare losses from any high point for SPFU.DE and SPPW.DE.

Drawdown Indicators

	SPFU.DE	SPPW.DE	Difference
Max Drawdown Largest peak-to-trough decline	-15.24%	-34.17%	+18.93%
Max Drawdown (1Y) Largest decline over 1 year	-2.24%	-8.43%	+6.19%
Max Drawdown (3Y) Largest decline over 3 years	-3.42%	-17.88%	+14.46%
Max Drawdown (5Y) Largest decline over 5 years	-15.00%	-25.63%	+10.63%
Current Drawdown Current decline from peak	-0.65%	-0.52%	-0.13%
Average Drawdown Average peak-to-trough decline	-3.74%	-5.69%	+1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	2.03%	-1.23%

Volatility

SPFU.DE vs. SPPW.DE - Volatility Comparison

The current volatility for State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist) (SPFU.DE) is 0.72%, while SPDR MSCI World UCITS ETF (SPPW.DE) has a volatility of 3.49%. This indicates that SPFU.DE experiences smaller price fluctuations and is considered to be less risky than SPPW.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPFU.DE	SPPW.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.72%	3.49%	-2.77%
Volatility (6M) Calculated over the trailing 6-month period	2.49%	8.99%	-6.50%
Volatility (1Y) Calculated over the trailing 1-year period	3.03%	11.96%	-8.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.25%	15.47%	-11.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.80%	17.63%	-13.83%

SPFU.DE vs. SPPW.DE - Expense Ratio Comparison

SPFU.DE has a 0.10% expense ratio, which is lower than SPPW.DE's 0.12% 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%.

Dividends

SPFU.DE vs. SPPW.DE - Dividend Comparison

SPFU.DE's dividend yield for the trailing twelve months is around 3.14%, while SPPW.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
SPFU.DE State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist)	3.14%	3.03%	2.73%	2.02%	1.41%	1.22%	1.51%	1.25%	0.89%
SPPW.DE SPDR MSCI World UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPFU.DE and SPPW.DE in my portfolio?

SPFU.DE and SPPW.DE have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPFU.DE or SPPW.DE?

On fees, SPFU.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPFU.DE or SPPW.DE?

SPFU.DE is cheaper with a 0.10% expense ratio, compared with 0.12% for SPPW.DE.

What is the main difference between SPFU.DE and SPPW.DE?

SPFU.DE is categorized as Global Bonds, while SPPW.DE is Global Equities. SPFU.DE tracks Bloomberg Global Aggregate Bond Index (USD Hedged), while SPPW.DE tracks MSCI World. Their fees differ too: 0.10% for SPFU.DE and 0.12% for SPPW.DE.