SPYE.DE vs. IS3R.DE
SPYE.DE (SPDR MSCI Europe UCITS ETF) and IS3R.DE (iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)) are both exchange-traded funds - SPYE.DE is a Europe Equities fund tracking the MSCI Europe, while IS3R.DE is a Momentum fund tracking the MSCI World Momentum Index. Both are passively managed. Over the past 10 years, SPYE.DE returned 9.95%/yr vs 15.43%/yr for IS3R.DE. A 0.71 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.
Performance
SPYE.DE vs. IS3R.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYE.DE achieves a 9.23% return, which is significantly lower than IS3R.DE's 23.73% return. Over the past 10 years, SPYE.DE has underperformed IS3R.DE with an annualized return of 9.95%, while IS3R.DE has yielded a comparatively higher 15.43% annualized return.
SPYE.DE
- 1D
- 1.76%
- 1M
- 3.41%
- YTD
- 9.23%
- 6M
- 11.81%
- 1Y
- 19.38%
- 3Y*
- 13.98%
- 5Y*
- 9.92%
- 10Y*
- 9.95%
IS3R.DE
- 1D
- 3.45%
- 1M
- 4.33%
- YTD
- 23.73%
- 6M
- 26.24%
- 1Y
- 35.47%
- 3Y*
- 25.94%
- 5Y*
- 14.78%
- 10Y*
- 15.43%
SPYE.DE vs. IS3R.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYE.DE SPDR MSCI Europe UCITS ETF | 9.23% | 20.32% | 8.24% | 15.50% | -9.42% | 25.11% | -3.25% | 27.31% | -10.83% | 10.49% |
IS3R.DE iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) | 23.73% | 8.37% | 37.95% | 8.09% | -13.60% | 24.52% | 16.42% | 31.46% | 0.29% | 16.07% |
Correlation
The correlation between SPYE.DE and IS3R.DE is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2014 | 0.71 |
The correlation between SPYE.DE and IS3R.DE has been stable across timeframes, ranging from 0.62 to 0.71 - a consistent structural relationship.
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Return for Risk
SPYE.DE vs. IS3R.DE — Risk / Return Rank
SPYE.DE
IS3R.DE
SPYE.DE vs. IS3R.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 World Momentum Factor UCITS ETF (Acc) (IS3R.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.
| SPYE.DE | IS3R.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.36 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 3.89 | -1.97 |
| Martin ratioReturn relative to average drawdown | 7.17 | 14.75 | -7.57 |
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Drawdowns
SPYE.DE vs. IS3R.DE - Drawdown Comparison
The maximum SPYE.DE drawdown since its inception was -35.54%, which is greater than IS3R.DE's maximum drawdown of -30.76%. Use the drawdown chart below to compare losses from any high point for SPYE.DE and IS3R.DE.
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Drawdown Indicators
| SPYE.DE | IS3R.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.54% | -30.76% | -4.78% |
Max Drawdown (1Y)Largest decline over 1 year | -9.45% | -9.01% | -0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -16.65% | -23.57% | +6.92% |
Max Drawdown (5Y)Largest decline over 5 years | -19.53% | -23.57% | +4.04% |
Max Drawdown (10Y)Largest decline over 10 years | -35.54% | -30.76% | -4.78% |
Current DrawdownCurrent decline from peak | -0.05% | -0.02% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -5.49% | -7.19% | +1.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.54% | 2.38% | +0.16% |
Volatility
SPYE.DE vs. IS3R.DE - Volatility Comparison
The current volatility for SPDR MSCI Europe UCITS ETF (SPYE.DE) is 4.17%, while iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IS3R.DE) has a volatility of 6.79%. This indicates that SPYE.DE experiences smaller price fluctuations and is considered to be less risky than IS3R.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 | IS3R.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | 6.79% | -2.62% |
Volatility (6M)Calculated over the trailing 6-month period | 10.79% | 15.14% | -4.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.03% | 17.72% | -4.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.33% | 17.47% | -3.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.67% | 18.09% | -2.42% |
SPYE.DE vs. IS3R.DE - Expense Ratio Comparison
Both SPYE.DE and IS3R.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. IS3R.DE - Dividend Comparison
Neither SPYE.DE nor IS3R.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYE.DE and IS3R.DE have a correlation of 0.65, 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 IS3R.DE have the same expense ratio: 0.25% per year.
SPYE.DE is categorized as Europe Equities, while IS3R.DE is Momentum. SPYE.DE tracks MSCI Europe, while IS3R.DE tracks MSCI World Momentum Index. They also come from different issuers: State Street and iShares.
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