SPYE.DE vs. DBMFE.PA
SPYE.DE (SPDR MSCI Europe UCITS ETF) and DBMFE.PA (iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc) are both exchange-traded funds - SPYE.DE is a Europe Equities fund tracking the MSCI Europe, while DBMFE.PA is a Hedge Fund fund actively managed by iM Global Partner. SPYE.DE is passively managed, while DBMFE.PA is actively managed. Over the past year, SPYE.DE returned 21.80% vs 30.03% for DBMFE.PA. At a 0.05 correlation, their price movements are largely independent. SPYE.DE charges 0.25%/yr vs 0.75%/yr for DBMFE.PA.
Performance
SPYE.DE vs. DBMFE.PA - Performance Comparison
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Returns By Period
In the year-to-date period, SPYE.DE achieves a 9.96% return, which is significantly lower than DBMFE.PA's 13.01% return.
SPYE.DE
- 1D
- -0.66%
- 1M
- 1.77%
- YTD
- 9.96%
- 6M
- 10.79%
- 1Y
- 21.80%
- 3Y*
- 14.98%
- 5Y*
- 10.01%
- 10Y*
- 10.12%
DBMFE.PA
- 1D
- 0.00%
- 1M
- 1.67%
- YTD
- 13.01%
- 6M
- 13.42%
- 1Y
- 30.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYE.DE vs. DBMFE.PA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPYE.DE SPDR MSCI Europe UCITS ETF | 9.96% | 15.31% |
DBMFE.PA iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc | 13.01% | 14.24% |
Correlation
The correlation between SPYE.DE and DBMFE.PA is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2025 | 0.05 |
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Return for Risk
SPYE.DE vs. DBMFE.PA — Risk / Return Rank
SPYE.DE
DBMFE.PA
SPYE.DE vs. DBMFE.PA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe UCITS ETF (SPYE.DE) and iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc (DBMFE.PA). 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.
| SPYE.DE | DBMFE.PA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.33 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 4.25 | -1.95 |
| Martin ratioReturn relative to average drawdown | 8.65 | 13.14 | -4.49 |
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Drawdowns
SPYE.DE vs. DBMFE.PA - Drawdown Comparison
The maximum SPYE.DE drawdown since its inception was -35.54%, which is greater than DBMFE.PA's maximum drawdown of -7.01%. Use the drawdown chart below to compare losses from any high point for SPYE.DE and DBMFE.PA.
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Drawdown Indicators
| SPYE.DE | DBMFE.PA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.54% | -7.01% | -28.53% |
Max Drawdown (1Y)Largest decline over 1 year | -9.45% | -7.01% | -2.44% |
Max Drawdown (3Y)Largest decline over 3 years | -16.65% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -19.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.54% | — | — |
Current DrawdownCurrent decline from peak | -0.66% | -1.11% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -5.48% | -2.58% | -2.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 2.27% | +0.24% |
Volatility
SPYE.DE vs. DBMFE.PA - Volatility Comparison
The current volatility for SPDR MSCI Europe UCITS ETF (SPYE.DE) is 2.86%, while iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc (DBMFE.PA) has a volatility of 3.68%. This indicates that SPYE.DE experiences smaller price fluctuations and is considered to be less risky than DBMFE.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYE.DE | DBMFE.PA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 3.68% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 10.72% | 11.39% | -0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.91% | 15.52% | -2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.31% | 17.32% | -3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.38% | 17.32% | -1.94% |
SPYE.DE vs. DBMFE.PA - Expense Ratio Comparison
SPYE.DE has a 0.25% expense ratio, which is lower than DBMFE.PA's 0.75% expense ratio.
Dividends
SPYE.DE vs. DBMFE.PA - Dividend Comparison
Neither SPYE.DE nor DBMFE.PA has paid dividends to shareholders.
Frequently Asked Questions
SPYE.DE and DBMFE.PA have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYE.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYE.DE is cheaper with a 0.25% expense ratio, compared with 0.75% for DBMFE.PA.
SPYE.DE is categorized as Europe Equities, while DBMFE.PA is Hedge Fund. They also come from different issuers: State Street and iM Global Partner. Their fees differ too: 0.25% for SPYE.DE and 0.75% for DBMFE.PA.
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