SPY1.DE vs. IS31.DE
SPY1.DE (SPDR S&P 500 Low Volatility UCITS ETF) and IS31.DE (iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc)) are both S&P 500 funds - SPY1.DE tracks the S&P 500 Low Volatility while IS31.DE tracks the S&P 500 Minimum Volatility Index (EUR Hedged). Both are passively managed. Over the past 5 years, SPY1.DE returned 6.96%/yr vs 5.98%/yr for IS31.DE. A 0.55 correlation means they provide meaningful diversification when combined. SPY1.DE charges 0.35%/yr vs 0.25%/yr for IS31.DE.
Performance
SPY1.DE vs. IS31.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPY1.DE achieves a 10.09% return, which is significantly higher than IS31.DE's 3.24% return.
SPY1.DE
- 1D
- 0.57%
- 1M
- 7.73%
- 6M
- 11.27%
- YTD
- 10.09%
- 1Y
- 9.44%
- 3Y*
- 6.84%
- 5Y*
- 6.96%
- 10Y*
- 7.38%
IS31.DE
- 1D
- 0.09%
- 1M
- 0.37%
- 6M
- 4.54%
- YTD
- 3.24%
- 1Y
- 7.12%
- 3Y*
- 10.62%
- 5Y*
- 5.98%
- 10Y*
- —
SPY1.DE vs. IS31.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPY1.DE SPDR S&P 500 Low Volatility UCITS ETF | 10.09% | -7.26% | 20.46% | -3.91% | 0.94% | 34.70% | -10.69% | 29.66% | 3.66% | -0.85% |
IS31.DE iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc) | 3.24% | 9.27% | 16.79% | 6.75% | -14.54% | 23.93% | 5.67% | 27.41% | -8.01% | 10.34% |
Correlation
The correlation between SPY1.DE and IS31.DE is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2017 | 0.55 |
Over the past year, the correlation between SPY1.DE and IS31.DE has dropped to 0.18 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.
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Return for Risk
SPY1.DE vs. IS31.DE — Risk / Return Rank
SPY1.DE
IS31.DE
SPY1.DE vs. IS31.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 Low Volatility UCITS ETF (SPY1.DE) and iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc) (IS31.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SPY1.DE | IS31.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.15 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 1.07 | +0.32 |
| Martin ratioReturn relative to average drawdown | 3.04 | 4.05 | -1.01 |
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Drawdowns
SPY1.DE vs. IS31.DE - Drawdown Comparison
The maximum SPY1.DE drawdown since its inception was -35.30%, roughly equal to the maximum IS31.DE drawdown of -33.66%. Use the drawdown chart below to compare losses from any high point for SPY1.DE and IS31.DE.
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Drawdown Indicators
| SPY1.DE | IS31.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.30% | -33.66% | -1.64% |
Max Drawdown (1Y)Largest decline over 1 year | -6.77% | -6.64% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -14.59% | -12.56% | -2.03% |
Max Drawdown (5Y)Largest decline over 5 years | -16.32% | -20.75% | +4.43% |
Max Drawdown (10Y)Largest decline over 10 years | -35.30% | — | — |
Current DrawdownCurrent decline from peak | -4.43% | 0.00% | -4.43% |
Average DrawdownAverage peak-to-trough decline | -8.12% | -4.85% | -3.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.10% | 1.75% | +1.35% |
Volatility
SPY1.DE vs. IS31.DE - Volatility Comparison
SPDR S&P 500 Low Volatility UCITS ETF (SPY1.DE) has a higher volatility of 3.57% compared to iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc) (IS31.DE) at 2.94%. This indicates that SPY1.DE's price experiences larger fluctuations and is considered to be riskier than IS31.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPY1.DE | IS31.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 2.94% | +0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 7.93% | 6.51% | +1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.58% | 8.76% | +1.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.54% | 12.78% | -0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.98% | 14.38% | +0.60% |
SPY1.DE vs. IS31.DE - Expense Ratio Comparison
SPY1.DE has a 0.35% expense ratio, which is higher than IS31.DE's 0.25% expense ratio.
Dividends
SPY1.DE vs. IS31.DE - Dividend Comparison
Neither SPY1.DE nor IS31.DE has paid dividends to shareholders.
Frequently Asked Questions
SPY1.DE and IS31.DE have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS31.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS31.DE is cheaper with a 0.25% expense ratio, compared with 0.35% for SPY1.DE.
SPY1.DE tracks S&P 500 Low Volatility, while IS31.DE tracks S&P 500 Minimum Volatility Index (EUR Hedged). They also come from different issuers: State Street and iShares. Their fees differ too: 0.35% for SPY1.DE and 0.25% for IS31.DE.
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