SPYE.DE vs. IBCJ.DE
SPYE.DE (SPDR MSCI Europe UCITS ETF) and IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) are both Europe Equities funds - SPYE.DE tracks the MSCI Europe while IBCJ.DE tracks the MSCI Poland. Both are passively managed. Over the past 10 years, SPYE.DE returned 9.09%/yr vs 9.17%/yr for IBCJ.DE. A 0.57 correlation means they provide meaningful diversification when combined. SPYE.DE charges 0.25%/yr vs 0.74%/yr for IBCJ.DE.
Performance
SPYE.DE vs. IBCJ.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 IBCJ.DE's 16.30% return. Both investments have delivered pretty close results over the past 10 years, with SPYE.DE having a 9.09% annualized return and IBCJ.DE not far ahead at 9.17%.
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%
IBCJ.DE
- 1D
- 0.17%
- 1M
- 1.95%
- YTD
- 16.30%
- 6M
- 26.50%
- 1Y
- 40.90%
- 3Y*
- 29.89%
- 5Y*
- 14.80%
- 10Y*
- 9.17%
SPYE.DE vs. IBCJ.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% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 16.30% | 53.66% | -0.42% | 43.86% | -21.74% | 14.34% | -18.69% | -3.73% | -9.07% | 35.59% |
Correlation
The correlation between SPYE.DE and IBCJ.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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since May 14, 2013 | 0.57 |
The correlation between SPYE.DE and IBCJ.DE has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.
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Return for Risk
SPYE.DE vs. IBCJ.DE — Risk / Return Rank
SPYE.DE
IBCJ.DE
SPYE.DE vs. IBCJ.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 MSCI Poland UCITS ETF USD (Acc) (IBCJ.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 | IBCJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.28 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 3.90 | -2.16 |
| Martin ratioReturn relative to average drawdown | 6.36 | 9.60 | -3.24 |
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 | IBCJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 1.65 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.55 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.36 | +0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.15 | +0.37 |
Drawdowns
SPYE.DE vs. IBCJ.DE - Drawdown Comparison
The maximum SPYE.DE drawdown since its inception was -35.54%, smaller than the maximum IBCJ.DE drawdown of -56.11%. Use the drawdown chart below to compare losses from any high point for SPYE.DE and IBCJ.DE.
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Drawdown Indicators
| SPYE.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.54% | -56.11% | +20.57% |
Max Drawdown (1Y)Largest decline over 1 year | -9.45% | -9.96% | +0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -16.65% | -18.47% | +1.82% |
Max Drawdown (5Y)Largest decline over 5 years | -19.53% | -47.31% | +27.78% |
Max Drawdown (10Y)Largest decline over 10 years | -35.54% | -56.11% | +20.57% |
Current DrawdownCurrent decline from peak | -1.47% | -1.16% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -5.36% | -19.38% | +14.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 4.05% | -1.46% |
Volatility
SPYE.DE vs. IBCJ.DE - Volatility Comparison
The current volatility for SPDR MSCI Europe UCITS ETF (SPYE.DE) is 4.24%, while iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) has a volatility of 7.13%. This indicates that SPYE.DE experiences smaller price fluctuations and is considered to be less risky than IBCJ.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 | IBCJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 7.13% | -2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 17.61% | -7.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.87% | 23.48% | -10.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.30% | 26.72% | -12.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.71% | 25.15% | -9.44% |
SPYE.DE vs. IBCJ.DE - Expense Ratio Comparison
SPYE.DE has a 0.25% expense ratio, which is lower than IBCJ.DE's 0.74% expense ratio.
Dividends
SPYE.DE vs. IBCJ.DE - Dividend Comparison
Neither SPYE.DE nor IBCJ.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYE.DE and IBCJ.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 0.74% for IBCJ.DE.
SPYE.DE tracks MSCI Europe, while IBCJ.DE tracks MSCI Poland. They also come from different issuers: State Street and iShares. Their fees differ too: 0.25% for SPYE.DE and 0.74% for IBCJ.DE.
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