SPQH.DE vs. SPQB.DE

Last updated Jun 5, 2026

SPQH.DE (Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating) and SPQB.DE (Global X S&P 500 Quarterly Buffer UCITS ETF) are both exchange-traded funds - SPQH.DE is a Defined Outcome fund tracking the Cboe S&P 500 15% WHT Quarterly 9% (-3% to -12%) Buffer Protect Index, while SPQB.DE is a S&P 500 fund tracking the Cboe S&P 500 15% WHT Quarterly 5% Buffer Protect. Both are passively managed. Over the past 3 years, SPQH.DE returned 5.93%/yr vs 9.37%/yr for SPQB.DE. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

SPQH.DE vs. SPQB.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating (SPQH.DE) and Global X S&P 500 Quarterly Buffer UCITS ETF (SPQB.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPQH.DE achieves a 1.52% return, which is significantly lower than SPQB.DE's 5.30% return.

SPQH.DE

• 1D: -0.13%
• 1M: 1.59%
• YTD: 1.52%
• 6M: 2.08%
• 1Y: 6.72%
• 3Y*: 5.93%
• 5Y*: —
• 10Y*: —

SPQB.DE

• 1D: -0.13%
• 1M: 1.48%
• YTD: 5.30%
• 6M: 5.62%
• 1Y: 10.99%
• 3Y*: 9.37%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPQH.DE vs. SPQB.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPQH.DE Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating	1.52%	-4.41%	21.88%	6.82%
SPQB.DE Global X S&P 500 Quarterly Buffer UCITS ETF	5.30%	-0.77%	20.64%	10.42%

Correlation

The correlation between SPQH.DE and SPQB.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 (All Time) Calculated using the full available price history since Feb 24, 2023	0.89

The correlation between SPQH.DE and SPQB.DE has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

Return for Risk

SPQH.DE vs. SPQB.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPQH.DE

SPQH.DE Risk / Return Rank: 30
SPQH.DE Sharpe Ratio Rank: 26
SPQH.DE Sortino Ratio Rank: 25
SPQH.DE Omega Ratio Rank: 25
SPQH.DE Calmar Ratio Rank: 43
SPQH.DE Martin Ratio Rank: 33

SPQB.DE

SPQB.DE Risk / Return Rank: 50
SPQB.DE Sharpe Ratio Rank: 42
SPQB.DE Sortino Ratio Rank: 41
SPQB.DE Omega Ratio Rank: 43
SPQB.DE Calmar Ratio Rank: 72
SPQB.DE Martin Ratio Rank: 54

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPQH.DE vs. SPQB.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating (SPQH.DE) and Global X S&P 500 Quarterly Buffer UCITS ETF (SPQB.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.

	SPQH.DE	SPQB.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.92	1.48	-0.56
Sortino ratio: Return per unit of downside risk	1.32	2.05	-0.73
Omega ratio: Gain probability vs. loss probability	1.16	1.27	-0.11
Calmar ratio: Return relative to maximum drawdown	2.12	3.53	-1.41
Martin ratio: Return relative to average drawdown	4.81	9.14	-4.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPQH.DE vs. SPQB.DE - Sharpe Ratio Comparison

The current SPQH.DE Sharpe Ratio is 0.92, which is lower than the SPQB.DE Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of SPQH.DE and SPQB.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPQH.DE	SPQB.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	1.48	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	1.11	-0.43

Drawdowns

SPQH.DE vs. SPQB.DE - Drawdown Comparison

The maximum SPQH.DE drawdown since its inception was -17.68%, which is greater than SPQB.DE's maximum drawdown of -16.15%. Use the drawdown chart below to compare losses from any high point for SPQH.DE and SPQB.DE.

Drawdown Indicators

	SPQH.DE	SPQB.DE	Difference
Max Drawdown Largest peak-to-trough decline	-17.68%	-16.15%	-1.53%
Max Drawdown (1Y) Largest decline over 1 year	-3.16%	-3.10%	-0.06%
Max Drawdown (3Y) Largest decline over 3 years	-17.68%	-16.15%	-1.53%
Current Drawdown Current decline from peak	-5.05%	-0.13%	-4.92%
Average Drawdown Average peak-to-trough decline	-4.12%	-2.58%	-1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	1.20%	+0.19%

Volatility

SPQH.DE vs. SPQB.DE - Volatility Comparison

Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating (SPQH.DE) has a higher volatility of 1.63% compared to Global X S&P 500 Quarterly Buffer UCITS ETF (SPQB.DE) at 1.19%. This indicates that SPQH.DE's price experiences larger fluctuations and is considered to be riskier than SPQB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPQH.DE	SPQB.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.63%	1.19%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	4.52%	4.25%	+0.27%
Volatility (1Y) Calculated over the trailing 1-year period	7.30%	7.42%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.79%	9.54%	+1.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.79%	9.54%	+1.25%

SPQH.DE vs. SPQB.DE - Expense Ratio Comparison

Both SPQH.DE and SPQB.DE have an expense ratio of 0.50%.

Dividends

SPQH.DE vs. SPQB.DE - Dividend Comparison

Neither SPQH.DE nor SPQB.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SPQH.DE and SPQB.DE in my portfolio?

SPQH.DE and SPQB.DE have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPQH.DE or SPQB.DE?

Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPQH.DE or SPQB.DE?

SPQH.DE and SPQB.DE have the same expense ratio: 0.50% per year.

What is the main difference between SPQH.DE and SPQB.DE?

SPQH.DE is categorized as Defined Outcome, while SPQB.DE is S&P 500. SPQH.DE tracks Cboe S&P 500 15% WHT Quarterly 9% (-3% to -12%) Buffer Protect Index, while SPQB.DE tracks Cboe S&P 500 15% WHT Quarterly 5% Buffer Protect.