SPY1.DE vs. SPQH.DE
SPY1.DE (SPDR S&P 500 Low Volatility UCITS ETF) and SPQH.DE (Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating) are both exchange-traded funds - SPY1.DE is a S&P 500 fund tracking the S&P 500 Low Volatility, while SPQH.DE is a Defined Outcome fund tracking the Cboe S&P 500 15% WHT Quarterly 9% (-3% to -12%) Buffer Protect Index. Both are passively managed. Over the past 3 years, SPY1.DE returned 4.28%/yr vs 5.93%/yr for SPQH.DE. At a 0.45 correlation, their price movements are largely independent. SPY1.DE charges 0.35%/yr vs 0.50%/yr for SPQH.DE.
Performance
SPY1.DE vs. SPQH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPY1.DE achieves a 2.00% return, which is significantly higher than SPQH.DE's 1.52% return.
SPY1.DE
- 1D
- -0.18%
- 1M
- -1.34%
- YTD
- 2.00%
- 6M
- 1.72%
- 1Y
- -1.53%
- 3Y*
- 4.28%
- 5Y*
- 5.96%
- 10Y*
- 7.35%
SPQH.DE
- 1D
- -0.13%
- 1M
- 1.59%
- YTD
- 1.52%
- 6M
- 2.08%
- 1Y
- 6.72%
- 3Y*
- 5.93%
- 5Y*
- —
- 10Y*
- —
SPY1.DE vs. SPQH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPY1.DE SPDR S&P 500 Low Volatility UCITS ETF | 2.00% | -7.26% | 20.46% | -2.31% |
SPQH.DE Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating | 1.52% | -4.41% | 21.88% | 6.82% |
Correlation
The correlation between SPY1.DE and SPQH.DE is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2023 | 0.45 |
The correlation between SPY1.DE and SPQH.DE shifts across timeframes, from 0.31 (1 year) to 0.45 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPY1.DE vs. SPQH.DE — Risk / Return Rank
SPY1.DE
SPQH.DE
SPY1.DE vs. SPQH.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 Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating (SPQH.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.
| SPY1.DE | SPQH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.16 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 2.12 | -2.35 |
| Martin ratioReturn relative to average drawdown | -0.48 | 4.81 | -5.30 |
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
| SPY1.DE | SPQH.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.15 | 0.92 | -1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.68 | +0.01 |
Drawdowns
SPY1.DE vs. SPQH.DE - Drawdown Comparison
The maximum SPY1.DE drawdown since its inception was -35.30%, which is greater than SPQH.DE's maximum drawdown of -17.68%. Use the drawdown chart below to compare losses from any high point for SPY1.DE and SPQH.DE.
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Drawdown Indicators
| SPY1.DE | SPQH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.30% | -17.68% | -17.62% |
Max Drawdown (1Y)Largest decline over 1 year | -6.77% | -3.16% | -3.61% |
Max Drawdown (3Y)Largest decline over 3 years | -14.59% | -17.68% | +3.09% |
Max Drawdown (5Y)Largest decline over 5 years | -16.32% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.30% | — | — |
Current DrawdownCurrent decline from peak | -11.45% | -5.05% | -6.40% |
Average DrawdownAverage peak-to-trough decline | -6.16% | -4.12% | -2.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 1.39% | +1.76% |
Volatility
SPY1.DE vs. SPQH.DE - Volatility Comparison
SPDR S&P 500 Low Volatility UCITS ETF (SPY1.DE) has a higher volatility of 3.46% compared to Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating (SPQH.DE) at 1.63%. This indicates that SPY1.DE's price experiences larger fluctuations and is considered to be riskier than SPQH.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 | SPQH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.46% | 1.63% | +1.83% |
Volatility (6M)Calculated over the trailing 6-month period | 7.38% | 4.52% | +2.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.25% | 7.30% | +2.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.47% | 10.79% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.00% | 10.79% | +3.21% |
SPY1.DE vs. SPQH.DE - Expense Ratio Comparison
SPY1.DE has a 0.35% expense ratio, which is lower than SPQH.DE's 0.50% expense ratio.
Dividends
SPY1.DE vs. SPQH.DE - Dividend Comparison
Neither SPY1.DE nor SPQH.DE has paid dividends to shareholders.
Frequently Asked Questions
SPY1.DE and SPQH.DE have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPY1.DE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPY1.DE is cheaper with a 0.35% expense ratio, compared with 0.50% for SPQH.DE.
SPY1.DE is categorized as S&P 500, while SPQH.DE is Defined Outcome. SPY1.DE tracks S&P 500 Low Volatility, while SPQH.DE tracks Cboe S&P 500 15% WHT Quarterly 9% (-3% to -12%) Buffer Protect Index. They also come from different issuers: State Street and Global X. Their fees differ too: 0.35% for SPY1.DE and 0.50% for SPQH.DE.
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