SPP1.DE vs. CBUH.DE
SPP1.DE (State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc)) and CBUH.DE (iShares MSCI World Momentum Factor ESG UCITS ETF USD Acc) are both exchange-traded funds - SPP1.DE is a Global Equities fund tracking the MSCI ACWI with Developed Markets 100% Hedged to EUR Index, while CBUH.DE is a Momentum fund tracking the MSCI World Momentum ESG Reduced Carbon Target Select. Both are passively managed. Over the past 3 years, SPP1.DE returned 17.27%/yr vs 22.20%/yr for CBUH.DE. Their correlation of 0.82 suggests significant overlap in exposure. SPP1.DE charges 0.17%/yr vs 0.30%/yr for CBUH.DE.
Performance
SPP1.DE vs. CBUH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPP1.DE achieves a 10.38% return, which is significantly lower than CBUH.DE's 23.34% return.
SPP1.DE
- 1D
- 0.53%
- 1M
- -0.60%
- 6M
- 9.51%
- YTD
- 10.38%
- 1Y
- 21.02%
- 3Y*
- 17.27%
- 5Y*
- 10.06%
- 10Y*
- —
- ALL TIME*
- 12.29%
CBUH.DE
- 1D
- 1.14%
- 1M
- -2.75%
- 6M
- 19.39%
- YTD
- 23.34%
- 1Y
- 31.60%
- 3Y*
- 22.20%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.07%
SPP1.DE vs. CBUH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPP1.DE State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc) | 10.38% | 17.43% | 19.40% | 19.48% | -17.94% | 2.71% |
CBUH.DE iShares MSCI World Momentum Factor ESG UCITS ETF USD Acc | 23.34% | 7.89% | 28.81% | 13.46% | -16.89% | 1.62% |
Correlation
The correlation between SPP1.DE and CBUH.DE is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2021 | 0.82 |
The correlation between SPP1.DE and CBUH.DE has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.
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Return for Risk
SPP1.DE vs. CBUH.DE — Risk / Return Rank
SPP1.DE
CBUH.DE
SPP1.DE vs. CBUH.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc) (SPP1.DE) and iShares MSCI World Momentum Factor ESG UCITS ETF USD Acc (CBUH.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.
| SPP1.DE | CBUH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.34 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 3.31 | -0.76 |
| Martin ratioReturn relative to average drawdown | 10.59 | 12.84 | -2.25 |
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Drawdowns
SPP1.DE vs. CBUH.DE - Drawdown Comparison
The maximum SPP1.DE drawdown since its inception was -32.51%, which is greater than CBUH.DE's maximum drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for SPP1.DE and CBUH.DE.
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Drawdown Indicators
| SPP1.DE | CBUH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.51% | -22.65% | -9.86% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -9.51% | +1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -17.70% | -22.65% | +4.95% |
Max Drawdown (5Y)Largest decline over 5 years | -22.77% | — | — |
Current DrawdownCurrent decline from peak | -1.05% | -3.41% | +2.36% |
Average DrawdownAverage peak-to-trough decline | -5.36% | -8.42% | +3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 2.45% | -0.47% |
Volatility
SPP1.DE vs. CBUH.DE - Volatility Comparison
The current volatility for State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc) (SPP1.DE) is 3.26%, while iShares MSCI World Momentum Factor ESG UCITS ETF USD Acc (CBUH.DE) has a volatility of 4.86%. This indicates that SPP1.DE experiences smaller price fluctuations and is considered to be less risky than CBUH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPP1.DE | CBUH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.26% | 4.86% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 9.88% | 13.93% | -4.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.27% | 16.84% | -4.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.60% | 17.02% | -2.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.63% | 17.02% | -0.39% |
SPP1.DE vs. CBUH.DE - Expense Ratio Comparison
SPP1.DE has a 0.17% expense ratio, which is lower than CBUH.DE's 0.30% expense ratio.
Dividends
SPP1.DE vs. CBUH.DE - Dividend Comparison
Neither SPP1.DE nor CBUH.DE has paid dividends to shareholders.
Frequently Asked Questions
SPP1.DE and CBUH.DE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPP1.DE is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPP1.DE is cheaper with a 0.17% expense ratio, compared with 0.30% for CBUH.DE.
SPP1.DE is categorized as Global Equities, while CBUH.DE is Momentum. SPP1.DE tracks MSCI ACWI with Developed Markets 100% Hedged to EUR Index, while CBUH.DE tracks MSCI World Momentum ESG Reduced Carbon Target Select. They also come from different issuers: State Street and iShares. Their fees differ too: 0.17% for SPP1.DE and 0.30% for CBUH.DE.
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