SPP1.DE vs. SPYI.DE
SPP1.DE (State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc)) and SPYI.DE (SPDR MSCI ACWI IMI UCITS ETF) are both Global Equities funds from State Street - SPP1.DE tracks the MSCI ACWI with Developed Markets 100% Hedged to EUR Index while SPYI.DE tracks the MSCI All Country World Investable Market (ACWI IMI). Both are passively managed. Over the past 5 years, SPP1.DE returned 10.21%/yr vs 11.49%/yr for SPYI.DE. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.17% expense ratio.
Performance
SPP1.DE vs. SPYI.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 SPYI.DE's 14.63% 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*
- —
SPYI.DE
- 1D
- 0.53%
- 1M
- 1.06%
- 6M
- 14.29%
- YTD
- 14.63%
- 1Y
- 27.25%
- 3Y*
- 17.34%
- 5Y*
- 11.49%
- 10Y*
- 12.19%
SPP1.DE vs. SPYI.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPP1.DE State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc) | 11.13% | 17.43% | 19.40% | 19.48% | -17.94% | 21.52% | 10.80% | 7.73% |
SPYI.DE SPDR MSCI ACWI IMI UCITS ETF | 14.63% | 9.07% | 22.98% | 17.54% | -12.93% | 27.77% | 5.37% | 6.93% |
Correlation
The correlation between SPP1.DE and SPYI.DE is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2019 | 0.92 |
The correlation between SPP1.DE and SPYI.DE has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.
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Return for Risk
SPP1.DE vs. SPYI.DE — Risk / Return Rank
SPP1.DE
SPYI.DE
SPP1.DE vs. SPYI.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 SPDR MSCI ACWI IMI UCITS ETF (SPYI.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 | SPYI.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.43 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 4.21 | -1.43 |
| Martin ratioReturn relative to average drawdown | 11.61 | 16.67 | -5.06 |
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Drawdowns
SPP1.DE vs. SPYI.DE - Drawdown Comparison
The maximum SPP1.DE drawdown since its inception was -32.51%, smaller than the maximum SPYI.DE drawdown of -41.58%. Use the drawdown chart below to compare losses from any high point for SPP1.DE and SPYI.DE.
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Drawdown Indicators
| SPP1.DE | SPYI.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.51% | -41.58% | +9.07% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -6.45% | -1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -17.70% | -21.64% | +3.94% |
Max Drawdown (5Y)Largest decline over 5 years | -22.77% | -21.64% | -1.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.49% | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.17% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -8.40% | +3.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.63% | +0.34% |
Volatility
SPP1.DE vs. SPYI.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 SPDR MSCI ACWI IMI UCITS ETF (SPYI.DE) at 3.60%. This indicates that SPP1.DE's price experiences larger fluctuations and is considered to be riskier than SPYI.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 | SPYI.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 3.60% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 9.80% | 8.62% | +1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.21% | 11.80% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.63% | 13.98% | +0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.66% | 15.92% | +0.74% |
SPP1.DE vs. SPYI.DE - Expense Ratio Comparison
Both SPP1.DE and SPYI.DE have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SPP1.DE vs. SPYI.DE - Dividend Comparison
Neither SPP1.DE nor SPYI.DE has paid dividends to shareholders.
Frequently Asked Questions
SPP1.DE and SPYI.DE have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.17% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SPP1.DE and SPYI.DE have the same expense ratio: 0.17% per year.
SPP1.DE tracks MSCI ACWI with Developed Markets 100% Hedged to EUR Index, while SPYI.DE tracks MSCI All Country World Investable Market (ACWI IMI).
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