SPP1.DE vs. UEEH.DE
SPP1.DE (State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc)) and UEEH.DE (iShares Edge MSCI World Minimum Volatility UCITS ETF USD Dist) are both Global Equities funds - SPP1.DE tracks the MSCI ACWI with Developed Markets 100% Hedged to EUR Index while UEEH.DE tracks the MSCI World Minimum Volatility. Both are passively managed. Over the past 5 years, SPP1.DE returned 10.21%/yr vs 5.97%/yr for UEEH.DE. At a 0.47 correlation, their price movements are largely independent. SPP1.DE charges 0.17%/yr vs 0.30%/yr for UEEH.DE.
Performance
SPP1.DE vs. UEEH.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 higher than UEEH.DE's 4.56% 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*
- —
UEEH.DE
- 1D
- 0.00%
- 1M
- 2.86%
- 6M
- 5.51%
- YTD
- 4.56%
- 1Y
- 5.38%
- 3Y*
- 7.50%
- 5Y*
- 5.97%
- 10Y*
- —
SPP1.DE vs. UEEH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
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% | 11.75% |
UEEH.DE iShares Edge MSCI World Minimum Volatility UCITS ETF USD Dist | 4.56% | -1.30% | 17.87% | 3.61% | -4.41% | 24.47% | 0.95% |
Correlation
The correlation between SPP1.DE and UEEH.DE is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Aug 21, 2020 | 0.47 |
Over the past year, the correlation between SPP1.DE and UEEH.DE has dropped to 0.13 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
SPP1.DE vs. UEEH.DE — Risk / Return Rank
SPP1.DE
UEEH.DE
SPP1.DE vs. UEEH.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 Edge MSCI World Minimum Volatility UCITS ETF USD Dist (UEEH.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 | UEEH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.20 | ||
| Sortino ratioReturn per unit of downside risk | +1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.12 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 1.01 | +1.77 |
| Martin ratioReturn relative to average drawdown | 11.61 | 2.54 | +9.07 |
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Drawdowns
SPP1.DE vs. UEEH.DE - Drawdown Comparison
The maximum SPP1.DE drawdown since its inception was -32.51%, which is greater than UEEH.DE's maximum drawdown of -12.87%. Use the drawdown chart below to compare losses from any high point for SPP1.DE and UEEH.DE.
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Drawdown Indicators
| SPP1.DE | UEEH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.51% | -12.87% | -19.64% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -5.33% | -2.88% |
Max Drawdown (3Y)Largest decline over 3 years | -17.70% | -12.87% | -4.83% |
Max Drawdown (5Y)Largest decline over 5 years | -22.77% | -12.87% | -9.90% |
Current DrawdownCurrent decline from peak | -0.37% | -3.86% | +3.49% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -4.38% | -1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 2.11% | -0.14% |
Volatility
SPP1.DE vs. UEEH.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 Edge MSCI World Minimum Volatility UCITS ETF USD Dist (UEEH.DE) at 2.13%. This indicates that SPP1.DE's price experiences larger fluctuations and is considered to be riskier than UEEH.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 | UEEH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 2.13% | +1.86% |
Volatility (6M)Calculated over the trailing 6-month period | 9.80% | 5.72% | +4.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.21% | 8.05% | +4.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.63% | 10.30% | +4.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.66% | 10.21% | +6.45% |
SPP1.DE vs. UEEH.DE - Expense Ratio Comparison
SPP1.DE has a 0.17% expense ratio, which is lower than UEEH.DE's 0.30% expense ratio.
Dividends
SPP1.DE vs. UEEH.DE - Dividend Comparison
SPP1.DE has not paid dividends to shareholders, while UEEH.DE's dividend yield for the trailing twelve months is around 1.65%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
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% |
UEEH.DE iShares Edge MSCI World Minimum Volatility UCITS ETF USD Dist | 1.65% | 1.72% | 1.70% | 1.89% | 1.73% | 1.62% |
Frequently Asked Questions
SPP1.DE and UEEH.DE have a correlation of 0.13, 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 0.30% for UEEH.DE.
SPP1.DE tracks MSCI ACWI with Developed Markets 100% Hedged to EUR Index, while UEEH.DE tracks MSCI World Minimum Volatility. They also come from different issuers: State Street and iShares. Their fees differ too: 0.17% for SPP1.DE and 0.30% for UEEH.DE.
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