SPYE.DE vs. EUN0.DE
SPYE.DE (SPDR MSCI Europe UCITS ETF) and EUN0.DE (iShares Edge MSCI Europe Minimum Volatility UCITS ETF) are both Europe Equities funds - SPYE.DE tracks the MSCI Europe while EUN0.DE tracks the MSCI Europe Minimum Volatility. Both are passively managed. Over the past 10 years, SPYE.DE returned 9.09%/yr vs 6.66%/yr for EUN0.DE. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.
Performance
SPYE.DE vs. EUN0.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 higher than EUN0.DE's 5.60% return. Over the past 10 years, SPYE.DE has outperformed EUN0.DE with an annualized return of 9.09%, while EUN0.DE has yielded a comparatively lower 6.66% annualized return.
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%
EUN0.DE
- 1D
- 0.54%
- 1M
- -0.19%
- YTD
- 5.60%
- 6M
- 7.10%
- 1Y
- 5.26%
- 3Y*
- 10.39%
- 5Y*
- 7.36%
- 10Y*
- 6.66%
SPYE.DE vs. EUN0.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% |
EUN0.DE iShares Edge MSCI Europe Minimum Volatility UCITS ETF | 5.60% | 12.27% | 11.42% | 10.79% | -13.21% | 21.54% | -4.02% | 24.17% | -4.36% | 9.14% |
Correlation
The correlation between SPYE.DE and EUN0.DE is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since May 14, 2013 | 0.89 |
The correlation between SPYE.DE and EUN0.DE shifts across timeframes, from 0.77 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPYE.DE vs. EUN0.DE — Risk / Return Rank
SPYE.DE
EUN0.DE
SPYE.DE vs. EUN0.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe UCITS ETF (SPYE.DE) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF (EUN0.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 | EUN0.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.11 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 0.76 | +0.98 |
| Martin ratioReturn relative to average drawdown | 6.36 | 1.97 | +4.38 |
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 | EUN0.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 0.62 | +0.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.66 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.53 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.63 | -0.11 |
Drawdowns
SPYE.DE vs. EUN0.DE - Drawdown Comparison
The maximum SPYE.DE drawdown since its inception was -35.54%, which is greater than EUN0.DE's maximum drawdown of -30.68%. Use the drawdown chart below to compare losses from any high point for SPYE.DE and EUN0.DE.
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Drawdown Indicators
| SPYE.DE | EUN0.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.54% | -30.68% | -4.86% |
Max Drawdown (1Y)Largest decline over 1 year | -9.45% | -7.16% | -2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -16.65% | -10.73% | -5.92% |
Max Drawdown (5Y)Largest decline over 5 years | -19.53% | -19.64% | +0.11% |
Max Drawdown (10Y)Largest decline over 10 years | -35.54% | -30.68% | -4.86% |
Current DrawdownCurrent decline from peak | -1.47% | -3.12% | +1.65% |
Average DrawdownAverage peak-to-trough decline | -5.36% | -4.69% | -0.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 2.76% | -0.17% |
Volatility
SPYE.DE vs. EUN0.DE - Volatility Comparison
SPDR MSCI Europe UCITS ETF (SPYE.DE) has a higher volatility of 4.24% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF (EUN0.DE) at 3.03%. This indicates that SPYE.DE's price experiences larger fluctuations and is considered to be riskier than EUN0.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 | EUN0.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 3.03% | +1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 7.20% | +3.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.87% | 8.77% | +4.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.30% | 11.02% | +3.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.71% | 12.51% | +3.20% |
SPYE.DE vs. EUN0.DE - Expense Ratio Comparison
Both SPYE.DE and EUN0.DE have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SPYE.DE vs. EUN0.DE - Dividend Comparison
Neither SPYE.DE nor EUN0.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYE.DE and EUN0.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SPYE.DE and EUN0.DE have the same expense ratio: 0.25% per year.
SPYE.DE tracks MSCI Europe, while EUN0.DE tracks MSCI Europe Minimum Volatility. They also come from different issuers: State Street and iShares.
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