SPP1.DE vs. SPYW.DE

Last updated Jul 4, 2026

SPP1.DE (State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc)) and SPYW.DE (SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist)) 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 SPYW.DE is a Europe Equities fund tracking the S&P Euro High Yield Dividend Aristocrats. Both are passively managed. Over the past 5 years, SPP1.DE returned 10.21%/yr vs 8.95%/yr for SPYW.DE. A 0.70 correlation means they provide meaningful diversification when combined. SPP1.DE charges 0.17%/yr vs 0.30%/yr for SPYW.DE.

Performance

SPP1.DE vs. SPYW.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc) (SPP1.DE) and SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPP1.DE achieves a 11.13% return, which is significantly higher than SPYW.DE's 9.29% 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*: —

SPYW.DE

• 1D: 0.54%
• 1M: 3.80%
• 6M: 8.97%
• YTD: 9.29%
• 1Y: 12.97%
• 3Y*: 14.82%
• 5Y*: 8.95%
• 10Y*: 7.74%

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

SPP1.DE vs. SPYW.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%
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist)	9.29%	20.21%	8.31%	17.92%	-11.22%	14.38%	-11.88%	5.49%

Correlation

The correlation between SPP1.DE and SPYW.DE is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Sep 30, 2019	0.70

Over the past year, the correlation between SPP1.DE and SPYW.DE has dropped to 0.50 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

Return for Risk

SPP1.DE vs. SPYW.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPP1.DE

SPP1.DE Risk / Return Rank: 73
SPP1.DE Sharpe Ratio Rank: 72
SPP1.DE Sortino Ratio Rank: 76
SPP1.DE Omega Ratio Rank: 73
SPP1.DE Calmar Ratio Rank: 68
SPP1.DE Martin Ratio Rank: 76

SPYW.DE

SPYW.DE Risk / Return Rank: 39
SPYW.DE Sharpe Ratio Rank: 40
SPYW.DE Sortino Ratio Rank: 38
SPYW.DE Omega Ratio Rank: 41
SPYW.DE Calmar Ratio Rank: 37
SPYW.DE Martin Ratio Rank: 40

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.

SPP1.DE vs. SPYW.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 S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.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	SPYW.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.22	+0.65
Sortino ratio: Return per unit of downside risk	2.77	1.71	+1.05
Omega ratio: Gain probability vs. loss probability	1.35	1.23	+0.12
Calmar ratio: Return relative to maximum drawdown	2.78	1.62	+1.16
Martin ratio: Return relative to average drawdown	11.61	5.40	+6.21

SPP1.DE vs. SPYW.DE - Sharpe Ratio Comparison

The current SPP1.DE Sharpe Ratio is 1.87, which is higher than the SPYW.DE Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of SPP1.DE and SPYW.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

SPP1.DE vs. SPYW.DE - Drawdown Comparison

The maximum SPP1.DE drawdown since its inception was -32.51%, smaller than the maximum SPYW.DE drawdown of -38.67%. Use the drawdown chart below to compare losses from any high point for SPP1.DE and SPYW.DE.

Drawdown Indicators

	SPP1.DE	SPYW.DE	Difference
Max Drawdown Largest peak-to-trough decline	-32.51%	-38.67%	+6.16%
Max Drawdown (1Y) Largest decline over 1 year	-8.21%	-7.99%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-17.70%	-11.64%	-6.06%
Max Drawdown (5Y) Largest decline over 5 years	-22.77%	-23.99%	+1.22%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.67%	—
Current Drawdown Current decline from peak	-0.37%	0.00%	-0.37%
Average Drawdown Average peak-to-trough decline	-5.39%	-5.58%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	2.40%	-0.43%

Volatility

SPP1.DE vs. SPYW.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 S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.DE) at 2.20%. This indicates that SPP1.DE's price experiences larger fluctuations and is considered to be riskier than SPYW.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPP1.DE	SPYW.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	2.20%	+1.79%
Volatility (6M) Calculated over the trailing 6-month period	9.80%	8.91%	+0.89%
Volatility (1Y) Calculated over the trailing 1-year period	12.21%	10.61%	+1.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.63%	13.27%	+1.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.66%	14.62%	+2.04%

SPP1.DE vs. SPYW.DE - Expense Ratio Comparison

SPP1.DE has a 0.17% expense ratio, which is lower than SPYW.DE's 0.30% expense ratio.

Dividends

SPP1.DE vs. SPYW.DE - Dividend Comparison

SPP1.DE has not paid dividends to shareholders, while SPYW.DE's dividend yield for the trailing twelve months is around 3.47%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPP1.DE State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist)	3.47%	4.07%	3.67%	3.31%	3.62%	2.78%	3.05%	3.10%	3.74%	3.15%	2.97%	2.99%

Frequently Asked Questions

Can I hold both SPP1.DE and SPYW.DE in my portfolio?

SPP1.DE and SPYW.DE have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPP1.DE or SPYW.DE?

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.

Which ETF is cheaper, SPP1.DE or SPYW.DE?

SPP1.DE is cheaper with a 0.17% expense ratio, compared with 0.30% for SPYW.DE.

What is the main difference between SPP1.DE and SPYW.DE?

SPP1.DE is categorized as Global Equities, while SPYW.DE is Europe Equities. SPP1.DE tracks MSCI ACWI with Developed Markets 100% Hedged to EUR Index, while SPYW.DE tracks S&P Euro High Yield Dividend Aristocrats. Their fees differ too: 0.17% for SPP1.DE and 0.30% for SPYW.DE.