SPYE.DE vs. ELFC.DE
SPYE.DE (SPDR MSCI Europe UCITS ETF) and ELFC.DE (Deka Euro iSTOXX ex Fin Dividend Plus UCITS ETF) are both Europe Equities funds - SPYE.DE tracks the MSCI Europe while ELFC.DE tracks the EURO iSTOXX® ex Financials High Dividend 50. Both are passively managed. Over the past 10 years, SPYE.DE returned 9.09%/yr vs 8.86%/yr for ELFC.DE. A 0.78 correlation means they provide meaningful diversification when combined. SPYE.DE charges 0.25%/yr vs 0.30%/yr for ELFC.DE.
Performance
SPYE.DE vs. ELFC.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYE.DE achieves a 7.68% return, which is significantly lower than ELFC.DE's 12.62% return. Both investments have delivered pretty close results over the past 10 years, with SPYE.DE having a 9.09% annualized return and ELFC.DE not far behind at 8.86%.
SPYE.DE
- 1D
- 0.62%
- 1M
- 1.21%
- YTD
- 7.68%
- 6M
- 10.03%
- 1Y
- 16.22%
- 3Y*
- 13.73%
- 5Y*
- 9.86%
- 10Y*
- 9.09%
ELFC.DE
- 1D
- -0.33%
- 1M
- -0.31%
- YTD
- 12.62%
- 6M
- 11.95%
- 1Y
- 20.69%
- 3Y*
- 12.09%
- 5Y*
- 10.14%
- 10Y*
- 8.86%
SPYE.DE vs. ELFC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYE.DE SPDR MSCI Europe UCITS ETF | 7.68% | 20.32% | 8.24% | 15.50% | -9.42% | 25.11% | -3.25% | 27.31% | -10.83% | 10.49% |
ELFC.DE Deka Euro iSTOXX ex Fin Dividend Plus UCITS ETF | 12.62% | 17.73% | -0.16% | 15.69% | 1.54% | 21.96% | -7.15% | 19.94% | -4.03% | 6.11% |
Correlation
The correlation between SPYE.DE and ELFC.DE is 0.56, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2015 | 0.78 |
Over the past year, the correlation between SPYE.DE and ELFC.DE has dropped to 0.56 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.
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Return for Risk
SPYE.DE vs. ELFC.DE — Risk / Return Rank
SPYE.DE
ELFC.DE
SPYE.DE vs. ELFC.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe UCITS ETF (SPYE.DE) and Deka Euro iSTOXX ex Fin Dividend Plus UCITS ETF (ELFC.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.
| SPYE.DE | ELFC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.33 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 3.00 | -1.26 |
| Martin ratioReturn relative to average drawdown | 6.36 | 8.42 | -2.06 |
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
| SPYE.DE | ELFC.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 1.81 | -0.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.73 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.56 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.55 | -0.03 |
Drawdowns
SPYE.DE vs. ELFC.DE - Drawdown Comparison
The maximum SPYE.DE drawdown since its inception was -35.54%, smaller than the maximum ELFC.DE drawdown of -37.68%. Use the drawdown chart below to compare losses from any high point for SPYE.DE and ELFC.DE.
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Drawdown Indicators
| SPYE.DE | ELFC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.54% | -37.68% | +2.14% |
Max Drawdown (1Y)Largest decline over 1 year | -9.45% | -6.71% | -2.74% |
Max Drawdown (3Y)Largest decline over 3 years | -16.65% | -15.02% | -1.63% |
Max Drawdown (5Y)Largest decline over 5 years | -19.53% | -16.85% | -2.68% |
Max Drawdown (10Y)Largest decline over 10 years | -35.54% | -37.68% | +2.14% |
Current DrawdownCurrent decline from peak | -1.47% | -1.60% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -5.36% | -4.70% | -0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 2.39% | +0.20% |
Volatility
SPYE.DE vs. ELFC.DE - Volatility Comparison
SPDR MSCI Europe UCITS ETF (SPYE.DE) has a higher volatility of 4.24% compared to Deka Euro iSTOXX ex Fin Dividend Plus UCITS ETF (ELFC.DE) at 2.62%. This indicates that SPYE.DE's price experiences larger fluctuations and is considered to be riskier than ELFC.DE 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 | ELFC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 2.62% | +1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 8.07% | +2.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.87% | 11.12% | +1.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.30% | 13.76% | +0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.71% | 16.40% | -0.69% |
SPYE.DE vs. ELFC.DE - Expense Ratio Comparison
SPYE.DE has a 0.25% expense ratio, which is lower than ELFC.DE's 0.30% expense ratio.
Dividends
SPYE.DE vs. ELFC.DE - Dividend Comparison
SPYE.DE has not paid dividends to shareholders, while ELFC.DE's dividend yield for the trailing twelve months is around 4.08%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ELFC.DE Deka Euro iSTOXX ex Fin Dividend Plus UCITS ETF | 4.08% | 4.45% | 4.66% | 4.66% | 4.91% | 3.85% | 2.83% | 3.64% | 4.20% | 3.53% | 3.57% |
SPYE.DE SPDR MSCI Europe UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPYE.DE and ELFC.DE have a correlation of 0.56, 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 0.30% for ELFC.DE.
SPYE.DE tracks MSCI Europe, while ELFC.DE tracks EURO iSTOXX® ex Financials High Dividend 50. They also come from different issuers: State Street and Deka. Their fees differ too: 0.25% for SPYE.DE and 0.30% for ELFC.DE.
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