SPP2.DE vs. UEEH.DE
SPP2.DE (SPDR MSCI ACWI UCITS ETF USD Hedged Acc) and UEEH.DE (iShares Edge MSCI World Minimum Volatility UCITS ETF USD Dist) are both Global Equities funds - SPP2.DE tracks the MSCI ACWI (USD Hedged) while UEEH.DE tracks the MSCI World Minimum Volatility. Both are passively managed. Over the past 5 years, SPP2.DE returned 12.62%/yr vs 5.00%/yr for UEEH.DE. A 0.63 correlation means they provide meaningful diversification when combined. SPP2.DE charges 0.45%/yr vs 0.30%/yr for UEEH.DE.
Performance
SPP2.DE vs. UEEH.DE - Performance Comparison
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Different Trading Currencies
SPP2.DE is traded in USD, while UEEH.DE is traded in EUR. To make them comparable, the UEEH.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPP2.DE achieves a 11.75% return, which is significantly higher than UEEH.DE's 0.38% return.
SPP2.DE
- 1D
- -0.01%
- 1M
- 2.92%
- YTD
- 11.75%
- 6M
- 12.90%
- 1Y
- 29.34%
- 3Y*
- 21.57%
- 5Y*
- 12.62%
- 10Y*
- —
UEEH.DE
- 1D
- 0.09%
- 1M
- 0.81%
- YTD
- 0.38%
- 6M
- 1.34%
- 1Y
- 1.16%
- 3Y*
- 9.09%
- 5Y*
- 5.00%
- 10Y*
- —
SPP2.DE vs. UEEH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPP2.DE SPDR MSCI ACWI UCITS ETF USD Hedged Acc | 11.75% | 21.21% | 20.40% | 22.86% | -16.46% | 21.23% | 11.03% |
UEEH.DE iShares Edge MSCI World Minimum Volatility UCITS ETF USD Dist | 0.36% | 11.15% | 10.84% | 6.83% | -9.67% | 14.20% | 5.05% |
Correlation
The correlation between SPP2.DE and UEEH.DE is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2020 | 0.63 |
Over the past year, the correlation between SPP2.DE and UEEH.DE has dropped to 0.31 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
SPP2.DE vs. UEEH.DE — Risk / Return Rank
SPP2.DE
UEEH.DE
SPP2.DE vs. UEEH.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI UCITS ETF USD Hedged Acc (SPP2.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.
| SPP2.DE | UEEH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.31 | ||
| Sortino ratioReturn per unit of downside risk | +3.38 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.03 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 3.65 | 0.20 | +3.45 |
| Martin ratioReturn relative to average drawdown | 15.47 | 0.47 | +14.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPP2.DE | UEEH.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.45 | 0.14 | +2.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.45 | +0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.04 | 0.57 | +0.47 |
Drawdowns
SPP2.DE vs. UEEH.DE - Drawdown Comparison
The maximum SPP2.DE drawdown since its inception was -22.60%, which is greater than UEEH.DE's maximum drawdown of -18.53%. Use the drawdown chart below to compare losses from any high point for SPP2.DE and UEEH.DE.
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Drawdown Indicators
| SPP2.DE | UEEH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.60% | -18.53% | -4.07% |
Max Drawdown (1Y)Largest decline over 1 year | -8.12% | -5.73% | -2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -17.36% | -9.22% | -8.14% |
Max Drawdown (5Y)Largest decline over 5 years | -22.60% | -18.53% | -4.07% |
Current DrawdownCurrent decline from peak | -0.66% | -3.99% | +3.33% |
Average DrawdownAverage peak-to-trough decline | -4.50% | -4.09% | -0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 2.45% | -0.53% |
Volatility
SPP2.DE vs. UEEH.DE - Volatility Comparison
SPDR MSCI ACWI UCITS ETF USD Hedged Acc (SPP2.DE) has a higher volatility of 3.48% compared to iShares Edge MSCI World Minimum Volatility UCITS ETF USD Dist (UEEH.DE) at 2.24%. This indicates that SPP2.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
| SPP2.DE | UEEH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | 2.24% | +1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 9.50% | 5.72% | +3.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.10% | 8.09% | +4.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.85% | 11.01% | +3.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.77% | 11.13% | +3.64% |
SPP2.DE vs. UEEH.DE - Expense Ratio Comparison
SPP2.DE has a 0.45% expense ratio, which is higher than UEEH.DE's 0.30% expense ratio.
Dividends
SPP2.DE vs. UEEH.DE - Dividend Comparison
SPP2.DE has not paid dividends to shareholders, while UEEH.DE's dividend yield for the trailing twelve months is around 1.45%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SPP2.DE SPDR MSCI ACWI UCITS ETF USD Hedged 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 | 1.45% | 1.49% | 1.59% | 1.76% | 1.70% | 1.37% |
Frequently Asked Questions
SPP2.DE and UEEH.DE have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UEEH.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEEH.DE is cheaper with a 0.30% expense ratio, compared with 0.45% for SPP2.DE.
SPP2.DE tracks MSCI ACWI (USD Hedged), while UEEH.DE tracks MSCI World Minimum Volatility. They also come from different issuers: State Street and iShares. Their fees differ too: 0.45% for SPP2.DE and 0.30% for UEEH.DE.
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