SPP1.DE vs. SPYL.DE
SPP1.DE (State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc)) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (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 SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, SPP1.DE returned 22.91% vs 23.84% for SPYL.DE. A 0.76 correlation means they provide meaningful diversification when combined. SPP1.DE charges 0.17%/yr vs 0.03%/yr for SPYL.DE.
Performance
SPP1.DE vs. SPYL.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 SPYL.DE's 11.99% 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*
- —
SPYL.DE
- 1D
- 0.00%
- 1M
- 0.41%
- 6M
- 12.78%
- YTD
- 11.99%
- 1Y
- 23.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPP1.DE vs. SPYL.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% | 11.54% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.99% | 4.71% | 32.33% | 8.23% |
Correlation
The correlation between SPP1.DE and SPYL.DE is 0.81, 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 | 0.81 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.76 |
The correlation between SPP1.DE and SPYL.DE has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.
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Return for Risk
SPP1.DE vs. SPYL.DE — Risk / Return Rank
SPP1.DE
SPYL.DE
SPP1.DE vs. SPYL.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 State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.37 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 3.36 | -0.58 |
| Martin ratioReturn relative to average drawdown | 11.61 | 11.80 | -0.19 |
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Drawdowns
SPP1.DE vs. SPYL.DE - Drawdown Comparison
The maximum SPP1.DE drawdown since its inception was -32.51%, which is greater than SPYL.DE's maximum drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for SPP1.DE and SPYL.DE.
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Drawdown Indicators
| SPP1.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.51% | -23.27% | -9.24% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -7.13% | -1.08% |
Max Drawdown (3Y)Largest decline over 3 years | -17.70% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.77% | — | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.86% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -3.31% | -2.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 2.03% | -0.06% |
Volatility
SPP1.DE vs. SPYL.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 State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 3.64%. This indicates that SPP1.DE's price experiences larger fluctuations and is considered to be riskier than SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 3.64% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 9.80% | 8.15% | +1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.21% | 12.03% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.63% | 15.00% | -0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.66% | 15.00% | +1.66% |
SPP1.DE vs. SPYL.DE - Expense Ratio Comparison
SPP1.DE has a 0.17% expense ratio, which is higher than SPYL.DE's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPP1.DE vs. SPYL.DE - Dividend Comparison
Neither SPP1.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
SPP1.DE and SPYL.DE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYL.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.DE is cheaper with a 0.03% expense ratio, compared with 0.17% for SPP1.DE.
SPP1.DE is categorized as Global Equities, while SPYL.DE is S&P 500. SPP1.DE tracks MSCI ACWI with Developed Markets 100% Hedged to EUR Index, while SPYL.DE tracks S&P 500 Index. Their fees differ too: 0.17% for SPP1.DE and 0.03% for SPYL.DE.
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