SPY4.DE vs. ^GSPC
SPY4.DE (SPDR S&P 400 US Mid Cap UCITS ETF) is Mid Cap Blend Equities fund tracking the S&P MidCap 400, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, SPY4.DE returned 11.17%/yr vs 13.56%/yr for ^GSPC. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
SPY4.DE vs. ^GSPC - Performance Comparison
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Different Trading Currencies
SPY4.DE is traded in EUR, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPY4.DE achieves a 18.37% return, which is significantly higher than ^GSPC's 11.08% return. Over the past 10 years, SPY4.DE has underperformed ^GSPC with an annualized return of 11.17%, while ^GSPC has yielded a comparatively higher 13.56% annualized return.
SPY4.DE
- 1D
- 0.23%
- 1M
- 5.49%
- YTD
- 18.37%
- 6M
- 18.35%
- 1Y
- 29.06%
- 3Y*
- 14.23%
- 5Y*
- 9.17%
- 10Y*
- 11.17%
^GSPC
- 1D
- -0.08%
- 1M
- 0.13%
- YTD
- 11.08%
- 6M
- 9.99%
- 1Y
- 23.85%
- 3Y*
- 17.70%
- 5Y*
- 12.53%
- 10Y*
- 13.56%
SPY4.DE vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPY4.DE SPDR S&P 400 US Mid Cap UCITS ETF | 18.37% | -3.63% | 18.67% | 13.23% | -8.82% | 35.58% | 2.35% | 29.20% | -8.77% | 1.67% |
^GSPC S&P 500 Index | 11.08% | 2.58% | 31.45% | 20.51% | -14.45% | 36.38% | 6.68% | 31.79% | -1.84% | 4.74% |
Correlation
The correlation between SPY4.DE and ^GSPC is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2012 | 0.54 |
The correlation between SPY4.DE and ^GSPC has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.
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Return for Risk
SPY4.DE vs. ^GSPC — Risk / Return Rank
SPY4.DE
^GSPC
SPY4.DE vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 400 US Mid Cap UCITS ETF (SPY4.DE) and S&P 500 Index (^GSPC). 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.
| SPY4.DE | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.35 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.77 | 3.17 | +1.60 |
| Martin ratioReturn relative to average drawdown | 14.64 | 11.71 | +2.93 |
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Drawdowns
SPY4.DE vs. ^GSPC - Drawdown Comparison
The maximum SPY4.DE drawdown since its inception was -42.71%, smaller than the maximum ^GSPC drawdown of -51.62%. Use the drawdown chart below to compare losses from any high point for SPY4.DE and ^GSPC.
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Drawdown Indicators
| SPY4.DE | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.71% | -51.62% | +8.91% |
Max Drawdown (1Y)Largest decline over 1 year | -6.07% | -7.57% | +1.50% |
Max Drawdown (3Y)Largest decline over 3 years | -29.11% | -23.99% | -5.12% |
Max Drawdown (5Y)Largest decline over 5 years | -29.11% | -23.99% | -5.12% |
Max Drawdown (10Y)Largest decline over 10 years | -42.71% | -33.42% | -9.29% |
Current DrawdownCurrent decline from peak | 0.00% | -1.08% | +1.08% |
Average DrawdownAverage peak-to-trough decline | -5.85% | -9.08% | +3.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 2.04% | -0.06% |
Volatility
SPY4.DE vs. ^GSPC - Volatility Comparison
The current volatility for SPDR S&P 400 US Mid Cap UCITS ETF (SPY4.DE) is 2.54%, while S&P 500 Index (^GSPC) has a volatility of 3.97%. This indicates that SPY4.DE experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPY4.DE | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.54% | 3.97% | -1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 10.02% | 9.16% | +0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.60% | 12.60% | +2.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.35% | 16.86% | +1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.49% | 18.61% | +0.88% |
Frequently Asked Questions
SPY4.DE and ^GSPC have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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