SPP1.DE vs. SPYY.DE
SPP1.DE (State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc)) and SPYY.DE (State Street SPDR MSCI All Country World UCITS ETF (Acc)) are both Global Equities funds from State Street - SPP1.DE tracks the MSCI ACWI with Developed Markets 100% Hedged to EUR Index while SPYY.DE tracks the MSCI ACWI Index. Both are passively managed. Over the past 5 years, SPP1.DE returned 10.21%/yr vs 11.80%/yr for SPYY.DE. Their correlation of 0.92 suggests significant overlap in exposure. SPP1.DE charges 0.17%/yr vs 0.12%/yr for SPYY.DE.
Performance
SPP1.DE vs. SPYY.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 SPYY.DE's 14.10% 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*
- —
SPYY.DE
- 1D
- 0.62%
- 1M
- 1.16%
- 6M
- 14.08%
- YTD
- 14.10%
- 1Y
- 26.77%
- 3Y*
- 17.95%
- 5Y*
- 11.80%
- 10Y*
- 12.50%
SPP1.DE vs. SPYY.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% |
SPYY.DE State Street SPDR MSCI All Country World UCITS ETF (Acc) | 14.10% | 9.46% | 24.56% | 18.22% | -13.76% | 29.02% | 5.12% | 6.57% |
Correlation
The correlation between SPP1.DE and SPYY.DE is 0.91, 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 | 0.91 |
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 SPYY.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. SPYY.DE — Risk / Return Rank
SPP1.DE
SPYY.DE
SPP1.DE vs. SPYY.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 MSCI All Country World UCITS ETF (Acc) (SPYY.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 | SPYY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.42 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 4.10 | -1.32 |
| Martin ratioReturn relative to average drawdown | 11.61 | 16.31 | -4.70 |
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Drawdowns
SPP1.DE vs. SPYY.DE - Drawdown Comparison
The maximum SPP1.DE drawdown since its inception was -32.51%, smaller than the maximum SPYY.DE drawdown of -40.72%. Use the drawdown chart below to compare losses from any high point for SPP1.DE and SPYY.DE.
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Drawdown Indicators
| SPP1.DE | SPYY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.51% | -40.72% | +8.21% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -6.49% | -1.72% |
Max Drawdown (3Y)Largest decline over 3 years | -17.70% | -21.27% | +3.57% |
Max Drawdown (5Y)Largest decline over 5 years | -22.77% | -21.27% | -1.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.49% | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.09% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -8.45% | +3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.64% | +0.33% |
Volatility
SPP1.DE vs. SPYY.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 MSCI All Country World UCITS ETF (Acc) (SPYY.DE) at 3.65%. This indicates that SPP1.DE's price experiences larger fluctuations and is considered to be riskier than SPYY.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 | SPYY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 3.65% | +0.34% |
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% | 11.77% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.63% | 13.95% | +0.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.66% | 15.93% | +0.73% |
SPP1.DE vs. SPYY.DE - Expense Ratio Comparison
SPP1.DE has a 0.17% expense ratio, which is higher than SPYY.DE's 0.12% 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. SPYY.DE - Dividend Comparison
Neither SPP1.DE nor SPYY.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, SPP1.DE and SPYY.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SPYY.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYY.DE is cheaper with a 0.12% expense ratio, compared with 0.17% for SPP1.DE.
SPP1.DE tracks MSCI ACWI with Developed Markets 100% Hedged to EUR Index, while SPYY.DE tracks MSCI ACWI Index. Their fees differ too: 0.17% for SPP1.DE and 0.12% for SPYY.DE.
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