SPQH.DE vs. VUAA.DE
SPQH.DE (Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating) and VUAA.DE (Vanguard S&P 500 UCITS USD Acc 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 VUAA.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 3 years, SPQH.DE returned 5.93%/yr vs 18.87%/yr for VUAA.DE. A 0.74 correlation means they provide meaningful diversification when combined. SPQH.DE charges 0.50%/yr vs 0.07%/yr for VUAA.DE.
Performance
SPQH.DE vs. VUAA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPQH.DE achieves a 1.52% return, which is significantly lower than VUAA.DE's 11.41% return.
SPQH.DE
- 1D
- -0.13%
- 1M
- 1.96%
- YTD
- 1.52%
- 6M
- 1.67%
- 1Y
- 6.86%
- 3Y*
- 5.93%
- 5Y*
- —
- 10Y*
- —
VUAA.DE
- 1D
- -0.12%
- 1M
- 5.23%
- YTD
- 11.41%
- 6M
- 11.44%
- 1Y
- 25.64%
- 3Y*
- 18.87%
- 5Y*
- 14.77%
- 10Y*
- —
SPQH.DE vs. VUAA.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% |
VUAA.DE Vanguard S&P 500 UCITS USD Acc ETF | 11.41% | 4.68% | 32.33% | 16.39% |
Correlation
The correlation between SPQH.DE and VUAA.DE is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2023 | 0.74 |
The correlation between SPQH.DE and VUAA.DE has been stable across timeframes, ranging from 0.66 to 0.74 - a consistent structural relationship.
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Return for Risk
SPQH.DE vs. VUAA.DE — Risk / Return Rank
SPQH.DE
VUAA.DE
SPQH.DE vs. VUAA.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 Vanguard S&P 500 UCITS USD Acc ETF (VUAA.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 | VUAA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.41 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 3.56 | -1.44 |
| Martin ratioReturn relative to average drawdown | 4.81 | 12.74 | -7.93 |
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
| SPQH.DE | VUAA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 2.20 | -1.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.97 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.81 | -0.13 |
Drawdowns
SPQH.DE vs. VUAA.DE - Drawdown Comparison
The maximum SPQH.DE drawdown since its inception was -17.68%, smaller than the maximum VUAA.DE drawdown of -33.67%. Use the drawdown chart below to compare losses from any high point for SPQH.DE and VUAA.DE.
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Drawdown Indicators
| SPQH.DE | VUAA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.68% | -33.67% | +15.99% |
Max Drawdown (1Y)Largest decline over 1 year | -3.16% | -7.16% | +4.00% |
Max Drawdown (3Y)Largest decline over 3 years | -17.68% | -23.33% | +5.65% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.33% | — |
Current DrawdownCurrent decline from peak | -5.05% | -0.45% | -4.60% |
Average DrawdownAverage peak-to-trough decline | -4.12% | -5.07% | +0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 2.01% | -0.62% |
Volatility
SPQH.DE vs. VUAA.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 Vanguard S&P 500 UCITS USD Acc ETF (VUAA.DE) has a volatility of 2.65%. This indicates that SPQH.DE experiences smaller price fluctuations and is considered to be less risky than VUAA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPQH.DE | VUAA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 2.65% | -1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 4.52% | 7.61% | -3.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.30% | 11.58% | -4.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.79% | 15.12% | -4.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.79% | 17.59% | -6.80% |
SPQH.DE vs. VUAA.DE - Expense Ratio Comparison
SPQH.DE has a 0.50% expense ratio, which is higher than VUAA.DE's 0.07% expense ratio.
Dividends
SPQH.DE vs. VUAA.DE - Dividend Comparison
Neither SPQH.DE nor VUAA.DE has paid dividends to shareholders.
Frequently Asked Questions
SPQH.DE and VUAA.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUAA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUAA.DE is cheaper with a 0.07% expense ratio, compared with 0.50% for SPQH.DE.
SPQH.DE is categorized as Defined Outcome, while VUAA.DE is S&P 500. SPQH.DE tracks Cboe S&P 500 15% WHT Quarterly 9% (-3% to -12%) Buffer Protect Index, while VUAA.DE tracks S&P 500 Index. They also come from different issuers: Global X and Vanguard. Their fees differ too: 0.50% for SPQH.DE and 0.07% for VUAA.DE.
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