SPP1.DE vs. UETW.DE
SPP1.DE (State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc)) and UETW.DE (UBS ETF (IE) MSCI World UCITS ETF (USD) Acc) are both Global Equities funds - SPP1.DE tracks the MSCI ACWI with Developed Markets 100% Hedged to EUR Index while UETW.DE tracks the MSCI World. Both are passively managed. Over the past 5 years, SPP1.DE returned 10.06%/yr vs 12.09%/yr for UETW.DE. Their correlation of 0.91 suggests significant overlap in exposure. SPP1.DE charges 0.17%/yr vs 0.10%/yr for UETW.DE.
Performance
SPP1.DE vs. UETW.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPP1.DE achieves a 10.38% return, which is significantly lower than UETW.DE's 12.56% return.
SPP1.DE
- 1D
- 0.53%
- 1M
- -0.60%
- 6M
- 9.51%
- YTD
- 10.38%
- 1Y
- 21.02%
- 3Y*
- 17.27%
- 5Y*
- 10.06%
- 10Y*
- —
- ALL TIME*
- 12.29%
UETW.DE
- 1D
- 0.38%
- 1M
- 0.69%
- 6M
- 12.11%
- YTD
- 12.56%
- 1Y
- 23.07%
- 3Y*
- 17.47%
- 5Y*
- 12.09%
- 10Y*
- —
- ALL TIME*
- 11.84%
SPP1.DE vs. UETW.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) | 10.38% | 17.43% | 19.40% | 19.48% | -17.94% | 21.52% | 10.80% | 7.73% |
UETW.DE UBS ETF (IE) MSCI World UCITS ETF (USD) Acc | 12.56% | 8.05% | 26.48% | 19.71% | -13.72% | 32.19% | 5.49% | 6.00% |
Correlation
The correlation between SPP1.DE and UETW.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 | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2019 | 0.91 |
The correlation between SPP1.DE and UETW.DE has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.
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Return for Risk
SPP1.DE vs. UETW.DE — Risk / Return Rank
SPP1.DE
UETW.DE
SPP1.DE vs. UETW.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 UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.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 | UETW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.39 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 3.45 | -0.90 |
| Martin ratioReturn relative to average drawdown | 10.59 | 13.47 | -2.88 |
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Drawdowns
SPP1.DE vs. UETW.DE - Drawdown Comparison
The maximum SPP1.DE drawdown since its inception was -32.51%, roughly equal to the maximum UETW.DE drawdown of -33.74%. Use the drawdown chart below to compare losses from any high point for SPP1.DE and UETW.DE.
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Drawdown Indicators
| SPP1.DE | UETW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.51% | -33.74% | +1.23% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -6.67% | -1.54% |
Max Drawdown (3Y)Largest decline over 3 years | -17.70% | -21.32% | +3.62% |
Max Drawdown (5Y)Largest decline over 5 years | -22.77% | -21.32% | -1.45% |
Current DrawdownCurrent decline from peak | -1.05% | -0.51% | -0.54% |
Average DrawdownAverage peak-to-trough decline | -5.36% | -4.96% | -0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 1.71% | +0.27% |
Volatility
SPP1.DE vs. UETW.DE - Volatility Comparison
State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc) (SPP1.DE) has a higher volatility of 3.26% compared to UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.DE) at 2.67%. This indicates that SPP1.DE's price experiences larger fluctuations and is considered to be riskier than UETW.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 | UETW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.26% | 2.67% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 9.88% | 7.79% | +2.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.27% | 11.01% | +1.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.60% | 14.03% | +0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.63% | 16.54% | +0.09% |
SPP1.DE vs. UETW.DE - Expense Ratio Comparison
SPP1.DE has a 0.17% expense ratio, which is higher than UETW.DE's 0.10% 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. UETW.DE - Dividend Comparison
Neither SPP1.DE nor UETW.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.90, SPP1.DE and UETW.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, UETW.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UETW.DE is cheaper with a 0.10% expense ratio, compared with 0.17% for SPP1.DE.
SPP1.DE tracks MSCI ACWI with Developed Markets 100% Hedged to EUR Index, while UETW.DE tracks MSCI World. They also come from different issuers: State Street and UBS. Their fees differ too: 0.17% for SPP1.DE and 0.10% for UETW.DE.
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