SPPW.DE vs. USD=X
SPPW.DE (SPDR MSCI World UCITS ETF) is Global Equities fund tracking the MSCI World, while USD=X (USD Cash) is a currency. Over the past 5 years, SPPW.DE returned 13.03%/yr vs 1.09%/yr for USD=X. At a 0.08 correlation, their price movements are largely independent.
Performance
SPPW.DE vs. USD=X - Performance Comparison
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Different Trading Currencies
SPPW.DE is traded in EUR, while USD=X is traded in USD. To make them comparable, the USD=X values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPPW.DE achieves a 10.85% return, which is significantly higher than USD=X's 1.84% return.
SPPW.DE
- 1D
- -0.31%
- 1M
- 3.69%
- YTD
- 10.85%
- 6M
- 11.19%
- 1Y
- 23.42%
- 3Y*
- 17.79%
- 5Y*
- 13.03%
- 10Y*
- —
USD=X
- 1D
- 0.00%
- 1M
- 2.18%
- YTD
- 1.84%
- 6M
- 0.90%
- 1Y
- -1.05%
- 3Y*
- -2.31%
- 5Y*
- 1.09%
- 10Y*
- -0.25%
SPPW.DE vs. USD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPPW.DE SPDR MSCI World UCITS ETF | 10.85% | 8.03% | 26.09% | 20.25% | -13.28% | 32.66% | 5.27% | 17.24% |
USD=X USD Cash | 1.84% | -11.87% | 6.60% | -3.00% | 6.20% | 7.48% | -8.24% | 1.35% |
Correlation
The correlation between SPPW.DE and USD=X is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2019 | 0.08 |
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Return for Risk
SPPW.DE vs. USD=X — Risk / Return Rank
SPPW.DE
USD=X
SPPW.DE vs. USD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World UCITS ETF (SPPW.DE) and USD Cash (USD=X). 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.
| SPPW.DE | USD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.30 | ||
| Sortino ratioReturn per unit of downside risk | +3.15 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 0.98 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | -0.18 | +3.84 |
| Martin ratioReturn relative to average drawdown | 14.69 | -0.39 | +15.09 |
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
| SPPW.DE | USD=X | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.16 | -0.15 | +2.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | 0.14 | +0.78 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.03 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.10 | +0.76 |
Drawdowns
SPPW.DE vs. USD=X - Drawdown Comparison
The maximum SPPW.DE drawdown since its inception was -33.69%, which is greater than USD=X's maximum drawdown of -20.32%. Use the drawdown chart below to compare losses from any high point for SPPW.DE and USD=X.
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Drawdown Indicators
| SPPW.DE | USD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.69% | -20.32% | -13.37% |
Max Drawdown (1Y)Largest decline over 1 year | -6.51% | -5.33% | -1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -21.62% | -15.23% | -6.39% |
Max Drawdown (5Y)Largest decline over 5 years | -21.62% | -20.32% | -1.30% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.32% | — |
Current DrawdownCurrent decline from peak | -0.31% | -16.81% | +16.50% |
Average DrawdownAverage peak-to-trough decline | -4.43% | -9.48% | +5.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.89% | -0.26% |
Volatility
SPPW.DE vs. USD=X - Volatility Comparison
SPDR MSCI World UCITS ETF (SPPW.DE) has a higher volatility of 2.70% compared to USD Cash (USD=X) at 1.33%. This indicates that SPPW.DE's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPPW.DE | USD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.70% | 1.33% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 7.62% | 4.59% | +3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.11% | 5.45% | +5.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.06% | 6.44% | +7.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.08% | 6.20% | +9.88% |
Frequently Asked Questions
SPPW.DE and USD=X have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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