SPY5.DE vs. IS31.DE
SPY5.DE (SPDR S&P 500 UCITS ETF) and IS31.DE (iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc)) are both S&P 500 funds - SPY5.DE tracks the S&P 500 Index while IS31.DE tracks the S&P 500 Minimum Volatility Index (EUR Hedged). Both are passively managed. Over the past 5 years, SPY5.DE returned 13.70%/yr vs 5.98%/yr for IS31.DE. A 0.72 correlation means they provide meaningful diversification when combined. SPY5.DE charges 0.03%/yr vs 0.25%/yr for IS31.DE.
Performance
SPY5.DE vs. IS31.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPY5.DE achieves a 12.25% return, which is significantly higher than IS31.DE's 3.24% return.
SPY5.DE
- 1D
- 0.23%
- 1M
- 0.64%
- 6M
- 13.05%
- YTD
- 12.25%
- 1Y
- 24.10%
- 3Y*
- 18.38%
- 5Y*
- 13.70%
- 10Y*
- 14.69%
IS31.DE
- 1D
- 0.09%
- 1M
- 0.37%
- 6M
- 4.54%
- YTD
- 3.24%
- 1Y
- 7.12%
- 3Y*
- 10.62%
- 5Y*
- 5.98%
- 10Y*
- —
SPY5.DE vs. IS31.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPY5.DE SPDR S&P 500 UCITS ETF | 12.25% | 4.75% | 32.36% | 22.42% | -14.24% | 40.60% | 6.73% | 34.44% | -2.03% | 1.34% |
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 SPY5.DE and IS31.DE is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2017 | 0.72 |
The correlation between SPY5.DE and IS31.DE shifts across timeframes, from 0.62 (1 year) to 0.74 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPY5.DE vs. IS31.DE — Risk / Return Rank
SPY5.DE
IS31.DE
SPY5.DE vs. IS31.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 UCITS ETF (SPY5.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.
| SPY5.DE | IS31.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.21 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.15 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.36 | 1.07 | +2.29 |
| Martin ratioReturn relative to average drawdown | 11.87 | 4.05 | +7.82 |
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Drawdowns
SPY5.DE vs. IS31.DE - Drawdown Comparison
The maximum SPY5.DE drawdown since its inception was -33.86%, roughly equal to the maximum IS31.DE drawdown of -33.66%. Use the drawdown chart below to compare losses from any high point for SPY5.DE and IS31.DE.
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Drawdown Indicators
| SPY5.DE | IS31.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.86% | -33.66% | -0.20% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -6.64% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -23.34% | -12.56% | -10.78% |
Max Drawdown (5Y)Largest decline over 5 years | -23.34% | -20.75% | -2.59% |
Max Drawdown (10Y)Largest decline over 10 years | -33.86% | — | — |
Current DrawdownCurrent decline from peak | -0.62% | 0.00% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -3.91% | -4.85% | +0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 1.75% | +0.28% |
Volatility
SPY5.DE vs. IS31.DE - Volatility Comparison
SPDR S&P 500 UCITS ETF (SPY5.DE) has a higher volatility of 3.64% compared to iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc) (IS31.DE) at 2.94%. This indicates that SPY5.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
| SPY5.DE | IS31.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.64% | 2.94% | +0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 8.02% | 6.51% | +1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.88% | 8.76% | +3.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.23% | 12.78% | +2.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 14.38% | +1.69% |
SPY5.DE vs. IS31.DE - Expense Ratio Comparison
SPY5.DE has a 0.03% expense ratio, which is lower than IS31.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPY5.DE vs. IS31.DE - Dividend Comparison
SPY5.DE's dividend yield for the trailing twelve months is around 0.90%, while IS31.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS31.DE iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY5.DE SPDR S&P 500 UCITS ETF | 0.90% | 0.99% | 1.03% | 1.22% | 1.42% | 0.95% | 1.37% | 1.43% | 0.80% | 1.21% | 1.57% | 1.69% |
Frequently Asked Questions
SPY5.DE and IS31.DE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPY5.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPY5.DE is cheaper with a 0.03% expense ratio, compared with 0.25% for IS31.DE.
SPY5.DE tracks S&P 500 Index, 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: 0.03% for SPY5.DE and 0.25% for IS31.DE.
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