SPQH.DE vs. SY7D.DE

Last updated Jun 5, 2026

SPQH.DE (Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating) and SY7D.DE (Global X Euro Stoxx 50 Covered Call UCITS ETF EUR Distributing) 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 SY7D.DE is a Derivative Income fund tracking the EURO STOXX 50 Covered Call ATM Index. Both are passively managed. Over the past year, SPQH.DE returned 6.72% vs 9.16% for SY7D.DE. At a 0.13 correlation, their price movements are largely independent. SPQH.DE charges 0.50%/yr vs 0.45%/yr for SY7D.DE.

Performance

SPQH.DE vs. SY7D.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 Euro Stoxx 50 Covered Call UCITS ETF EUR Distributing (SY7D.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 higher than SY7D.DE's 1.17% return.

SPQH.DE

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

SY7D.DE

• 1D: 0.26%
• 1M: 1.56%
• YTD: 1.17%
• 6M: 2.22%
• 1Y: 9.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPQH.DE vs. SY7D.DE - Yearly Performance Comparison

	2026 (YTD)	2025
SPQH.DE Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating	1.52%	6.38%
SY7D.DE Global X Euro Stoxx 50 Covered Call UCITS ETF EUR Distributing	1.17%	9.52%

Correlation

The correlation between SPQH.DE and SY7D.DE is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (All Time) Calculated using the full available price history since May 9, 2025	0.13

Return for Risk

SPQH.DE vs. SY7D.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

SY7D.DE

SY7D.DE Risk / Return Rank: 24
SY7D.DE Sharpe Ratio Rank: 24
SY7D.DE Sortino Ratio Rank: 23
SY7D.DE Omega Ratio Rank: 25
SY7D.DE Calmar Ratio Rank: 22
SY7D.DE Martin Ratio Rank: 27

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. SY7D.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 Euro Stoxx 50 Covered Call UCITS ETF EUR Distributing (SY7D.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	SY7D.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.92	0.80	+0.11
Sortino ratio: Return per unit of downside risk	1.32	1.21	+0.11
Omega ratio: Gain probability vs. loss probability	1.16	1.17	0.00
Calmar ratio: Return relative to maximum drawdown	2.12	0.96	+1.16
Martin ratio: Return relative to average drawdown	4.81	3.59	+1.22
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. SY7D.DE - Sharpe Ratio Comparison

The current SPQH.DE Sharpe Ratio is 0.92, which is comparable to the SY7D.DE Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of SPQH.DE and SY7D.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	SY7D.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	0.80	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.90	-0.22

Drawdowns

SPQH.DE vs. SY7D.DE - Drawdown Comparison

The maximum SPQH.DE drawdown since its inception was -17.68%, which is greater than SY7D.DE's maximum drawdown of -9.48%. Use the drawdown chart below to compare losses from any high point for SPQH.DE and SY7D.DE.

Drawdown Indicators

	SPQH.DE	SY7D.DE	Difference
Max Drawdown Largest peak-to-trough decline	-17.68%	-9.48%	-8.20%
Max Drawdown (1Y) Largest decline over 1 year	-3.16%	-9.48%	+6.32%
Max Drawdown (3Y) Largest decline over 3 years	-17.68%	—	—
Current Drawdown Current decline from peak	-5.05%	-1.71%	-3.34%
Average Drawdown Average peak-to-trough decline	-4.12%	-1.61%	-2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	2.54%	-1.15%

Volatility

SPQH.DE vs. SY7D.DE - Volatility Comparison

The current volatility for Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating (SPQH.DE) is 1.63%, while Global X Euro Stoxx 50 Covered Call UCITS ETF EUR Distributing (SY7D.DE) has a volatility of 2.81%. This indicates that SPQH.DE experiences smaller price fluctuations and is considered to be less risky than SY7D.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPQH.DE	SY7D.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.63%	2.81%	-1.18%
Volatility (6M) Calculated over the trailing 6-month period	4.52%	9.61%	-5.09%
Volatility (1Y) Calculated over the trailing 1-year period	7.30%	11.37%	-4.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.79%	11.06%	-0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.79%	11.06%	-0.27%

SPQH.DE vs. SY7D.DE - Expense Ratio Comparison

SPQH.DE has a 0.50% expense ratio, which is higher than SY7D.DE's 0.45% expense ratio.

Dividends

SPQH.DE vs. SY7D.DE - Dividend Comparison

SPQH.DE has not paid dividends to shareholders, while SY7D.DE's dividend yield for the trailing twelve months is around 10.81%.

Position	TTM	2025
SPQH.DE Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating	0.00%	0.00%
SY7D.DE Global X Euro Stoxx 50 Covered Call UCITS ETF EUR Distributing	10.81%	6.10%

Frequently Asked Questions

Can I hold both SPQH.DE and SY7D.DE in my portfolio?

SPQH.DE and SY7D.DE have a correlation of 0.12, 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 SY7D.DE?

On fees, SY7D.DE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPQH.DE or SY7D.DE?

SY7D.DE is cheaper with a 0.45% expense ratio, compared with 0.50% for SPQH.DE.

What is the main difference between SPQH.DE and SY7D.DE?

SPQH.DE is categorized as Defined Outcome, while SY7D.DE is Derivative Income. SPQH.DE tracks Cboe S&P 500 15% WHT Quarterly 9% (-3% to -12%) Buffer Protect Index, while SY7D.DE tracks EURO STOXX 50 Covered Call ATM Index. Their fees differ too: 0.50% for SPQH.DE and 0.45% for SY7D.DE.