SPY1.DE vs. SPYL.DE
SPY1.DE (SPDR S&P 500 Low Volatility UCITS ETF) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both S&P 500 funds from State Street - SPY1.DE tracks the S&P 500 Low Volatility while SPYL.DE tracks the S&P 500 Index. Both are passively managed. Over the past year, SPY1.DE returned -1.53% vs 25.61% for SPYL.DE. At a 0.36 correlation, their price movements are largely independent. SPY1.DE charges 0.35%/yr vs 0.03%/yr for SPYL.DE.
Performance
SPY1.DE vs. SPYL.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 lower than SPYL.DE's 11.37% 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%
SPYL.DE
- 1D
- -0.15%
- 1M
- 5.19%
- YTD
- 11.37%
- 6M
- 11.41%
- 1Y
- 25.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPY1.DE vs. SPYL.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% | 2.15% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.37% | 4.71% | 32.33% | 9.54% |
Correlation
The correlation between SPY1.DE and SPYL.DE is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.36 |
Over the past year, the correlation between SPY1.DE and SPYL.DE has dropped to 0.13 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.
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Return for Risk
SPY1.DE vs. SPYL.DE — Risk / Return Rank
SPY1.DE
SPYL.DE
SPY1.DE vs. SPYL.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 State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.36 | ||
| Sortino ratioReturn per unit of downside risk | -3.14 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.41 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 3.58 | -3.80 |
| Martin ratioReturn relative to average drawdown | -0.48 | 12.72 | -13.21 |
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 | SPYL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.15 | 2.21 | -2.36 |
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 | 1.54 | -0.84 |
Drawdowns
SPY1.DE vs. SPYL.DE - Drawdown Comparison
The maximum SPY1.DE drawdown since its inception was -35.30%, which is greater than SPYL.DE's maximum drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for SPY1.DE and SPYL.DE.
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Drawdown Indicators
| SPY1.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.30% | -23.27% | -12.03% |
Max Drawdown (1Y)Largest decline over 1 year | -6.77% | -7.13% | +0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -14.59% | — | — |
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% | -0.46% | -10.99% |
Average DrawdownAverage peak-to-trough decline | -6.16% | -3.24% | -2.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 2.01% | +1.14% |
Volatility
SPY1.DE vs. SPYL.DE - Volatility Comparison
SPDR S&P 500 Low Volatility UCITS ETF (SPY1.DE) has a higher volatility of 3.46% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 2.66%. This indicates that SPY1.DE's price experiences larger fluctuations and is considered to be riskier than SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.46% | 2.66% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 7.38% | 7.57% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.25% | 11.52% | -1.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.47% | 14.61% | -2.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.00% | 14.61% | -0.61% |
SPY1.DE vs. SPYL.DE - Expense Ratio Comparison
SPY1.DE has a 0.35% expense ratio, which is higher than SPYL.DE's 0.03% expense ratio.
Dividends
SPY1.DE vs. SPYL.DE - Dividend Comparison
Neither SPY1.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
SPY1.DE and SPYL.DE have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYL.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.DE is cheaper with a 0.03% expense ratio, compared with 0.35% for SPY1.DE.
SPY1.DE tracks S&P 500 Low Volatility, while SPYL.DE tracks S&P 500 Index. Their fees differ too: 0.35% for SPY1.DE and 0.03% for SPYL.DE.
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