SPFU.DE vs. SPPY.DE

Last updated Jul 4, 2026

SPFU.DE (State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist)) and SPPY.DE (State Street SPDR S&P 500 Leaders UCITS ETF) are both exchange-traded funds - SPFU.DE is a Global Bonds fund tracking the Bloomberg Global Aggregate Bond Index (USD Hedged), while SPPY.DE is a S&P 500 fund tracking the S&P 500 Scored & Screened Leaders Index. Both are passively managed. Over the past 5 years, SPFU.DE returned 0.64%/yr vs 13.86%/yr for SPPY.DE. At a 0.07 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.

Performance

SPFU.DE vs. SPPY.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 State Street SPDR S&P 500 Leaders UCITS ETF (SPPY.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPFU.DE is traded in USD, while SPPY.DE is traded in EUR. To make them comparable, the SPPY.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 SPPY.DE's 9.84% 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*: —

SPPY.DE

• 1D: 0.33%
• 1M: 0.74%
• 6M: 10.68%
• YTD: 9.84%
• 1Y: 23.73%
• 3Y*: 20.66%
• 5Y*: 13.86%
• 10Y*: —

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

SPFU.DE vs. SPPY.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%	0.12%
SPPY.DE State Street SPDR S&P 500 Leaders UCITS ETF	9.84%	17.89%	25.27%	30.95%	-19.19%	30.00%	18.56%	4.57%

Correlation

The correlation between SPFU.DE and SPPY.DE is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019	0.07

Over the past year, SPFU.DE and SPPY.DE have become more correlated (0.32) than their long-term average of 0.07, meaning their price movements have been converging.

Return for Risk

SPFU.DE vs. SPPY.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

SPPY.DE

SPPY.DE Risk / Return Rank: 86
SPPY.DE Sharpe Ratio Rank: 87
SPPY.DE Sortino Ratio Rank: 86
SPPY.DE Omega Ratio Rank: 85
SPPY.DE Calmar Ratio Rank: 87
SPPY.DE Martin Ratio Rank: 88

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. SPPY.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 State Street SPDR S&P 500 Leaders UCITS ETF (SPPY.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	SPPY.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.99	1.97	-0.97
Sortino ratio: Return per unit of downside risk	1.48	2.90	-1.42
Omega ratio: Gain probability vs. loss probability	1.18	1.34	-0.17
Calmar ratio: Return relative to maximum drawdown	1.34	2.60	-1.26
Martin ratio: Return relative to average drawdown	3.75	11.13	-7.38

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

The current SPFU.DE Sharpe Ratio is 0.99, which is lower than the SPPY.DE Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of SPFU.DE and SPPY.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. SPPY.DE - Drawdown Comparison

The maximum SPFU.DE drawdown since its inception was -15.24%, smaller than the maximum SPPY.DE drawdown of -33.81%. Use the drawdown chart below to compare losses from any high point for SPFU.DE and SPPY.DE.

Drawdown Indicators

	SPFU.DE	SPPY.DE	Difference
Max Drawdown Largest peak-to-trough decline	-15.24%	-33.81%	+18.57%
Max Drawdown (1Y) Largest decline over 1 year	-2.24%	-9.08%	+6.84%
Max Drawdown (3Y) Largest decline over 3 years	-3.42%	-20.62%	+17.20%
Max Drawdown (5Y) Largest decline over 5 years	-15.00%	-24.93%	+9.93%
Current Drawdown Current decline from peak	-0.65%	-0.58%	-0.07%
Average Drawdown Average peak-to-trough decline	-3.74%	-5.30%	+1.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	2.13%	-1.33%

Volatility

SPFU.DE vs. SPPY.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 State Street SPDR S&P 500 Leaders UCITS ETF (SPPY.DE) has a volatility of 3.61%. This indicates that SPFU.DE experiences smaller price fluctuations and is considered to be less risky than SPPY.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPFU.DE	SPPY.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.72%	3.61%	-2.89%
Volatility (6M) Calculated over the trailing 6-month period	2.49%	8.89%	-6.40%
Volatility (1Y) Calculated over the trailing 1-year period	3.03%	12.02%	-8.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.25%	16.22%	-11.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.80%	18.23%	-14.43%

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

Both SPFU.DE and SPPY.DE have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SPFU.DE vs. SPPY.DE - Dividend Comparison

SPFU.DE's dividend yield for the trailing twelve months is around 3.14%, while SPPY.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%
SPPY.DE State Street SPDR S&P 500 Leaders 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 SPPY.DE in my portfolio?

SPFU.DE and SPPY.DE have a correlation of 0.32, 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 SPPY.DE?

Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

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

SPFU.DE and SPPY.DE have the same expense ratio: 0.10% per year.

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

SPFU.DE is categorized as Global Bonds, while SPPY.DE is S&P 500. SPFU.DE tracks Bloomberg Global Aggregate Bond Index (USD Hedged), while SPPY.DE tracks S&P 500 Scored & Screened Leaders Index.