SPP1.DE vs. CBUX.DE
SPP1.DE (State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc)) and CBUX.DE (iShares Global Infrastructure 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 CBUX.DE is a Utilities Equities fund tracking the FTSE Global Core Infrastructure Index. Both are passively managed. Over the past 3 years, SPP1.DE returned 18.01%/yr vs 10.01%/yr for CBUX.DE. At a 0.25 correlation, their price movements are largely independent. SPP1.DE charges 0.17%/yr vs 0.65%/yr for CBUX.DE.
Performance
SPP1.DE vs. CBUX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPP1.DE achieves a 11.13% return, which is significantly lower than CBUX.DE's 15.37% return.
SPP1.DE
- 1D
- 0.60%
- 1M
- 0.08%
- 6M
- 11.32%
- YTD
- 11.13%
- 1Y
- 22.91%
- 3Y*
- 18.01%
- 5Y*
- 10.21%
- 10Y*
- —
CBUX.DE
- 1D
- 0.65%
- 1M
- 3.15%
- 6M
- 15.16%
- YTD
- 15.37%
- 1Y
- 19.81%
- 3Y*
- 10.01%
- 5Y*
- —
- 10Y*
- —
SPP1.DE vs. CBUX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPP1.DE State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc) | 11.13% | 17.43% | 19.40% | 14.91% |
CBUX.DE iShares Global Infrastructure UCITS ETF USD (Acc) | 15.37% | 0.75% | 14.53% | -1.47% |
Correlation
The correlation between SPP1.DE and CBUX.DE is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2023 | 0.25 |
Over the past year, the correlation between SPP1.DE and CBUX.DE has dropped to 0.05 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.
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Return for Risk
SPP1.DE vs. CBUX.DE — Risk / Return Rank
SPP1.DE
CBUX.DE
SPP1.DE vs. CBUX.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 Global Infrastructure UCITS ETF USD (Acc) (CBUX.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 | CBUX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.32 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 4.67 | -1.89 |
| Martin ratioReturn relative to average drawdown | 11.61 | 10.62 | +0.99 |
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Drawdowns
SPP1.DE vs. CBUX.DE - Drawdown Comparison
The maximum SPP1.DE drawdown since its inception was -32.51%, which is greater than CBUX.DE's maximum drawdown of -14.96%. Use the drawdown chart below to compare losses from any high point for SPP1.DE and CBUX.DE.
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Drawdown Indicators
| SPP1.DE | CBUX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.51% | -14.96% | -17.55% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -4.22% | -3.99% |
Max Drawdown (3Y)Largest decline over 3 years | -17.70% | -14.96% | -2.74% |
Max Drawdown (5Y)Largest decline over 5 years | -22.77% | — | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.32% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -3.75% | -1.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.86% | +0.11% |
Volatility
SPP1.DE vs. CBUX.DE - Volatility Comparison
State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc) (SPP1.DE) has a higher volatility of 3.99% compared to iShares Global Infrastructure UCITS ETF USD (Acc) (CBUX.DE) at 3.40%. This indicates that SPP1.DE's price experiences larger fluctuations and is considered to be riskier than CBUX.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 | CBUX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 3.40% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 9.80% | 8.87% | +0.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.21% | 10.71% | +1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.63% | 11.97% | +2.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.66% | 11.97% | +4.69% |
SPP1.DE vs. CBUX.DE - Expense Ratio Comparison
SPP1.DE has a 0.17% expense ratio, which is lower than CBUX.DE's 0.65% expense ratio.
Dividends
SPP1.DE vs. CBUX.DE - Dividend Comparison
Neither SPP1.DE nor CBUX.DE has paid dividends to shareholders.
Frequently Asked Questions
SPP1.DE and CBUX.DE have a correlation of 0.05, 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 0.65% for CBUX.DE.
SPP1.DE is categorized as Global Equities, while CBUX.DE is Utilities Equities. SPP1.DE tracks MSCI ACWI with Developed Markets 100% Hedged to EUR Index, while CBUX.DE tracks FTSE Global Core Infrastructure Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.17% for SPP1.DE and 0.65% for CBUX.DE.
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