SPYE.DE vs. MVEE.DE
SPYE.DE (SPDR MSCI Europe UCITS ETF) and MVEE.DE (iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc)) are both Europe Equities funds - SPYE.DE tracks the MSCI Europe while MVEE.DE tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, SPYE.DE returned 10.01%/yr vs 6.05%/yr for MVEE.DE. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.
Performance
SPYE.DE vs. MVEE.DE - 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 higher than MVEE.DE's 7.52% 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%
MVEE.DE
- 1D
- -0.57%
- 1M
- 0.58%
- YTD
- 7.52%
- 6M
- 8.05%
- 1Y
- 11.08%
- 3Y*
- 10.12%
- 5Y*
- 6.05%
- 10Y*
- —
SPYE.DE vs. MVEE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPYE.DE SPDR MSCI Europe UCITS ETF | 9.96% | 20.32% | 8.24% | 15.50% | -9.42% | 25.11% | 23.85% |
MVEE.DE iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) | 7.52% | 8.71% | 8.75% | 12.46% | -15.04% | 23.79% | 13.95% |
Correlation
The correlation between SPYE.DE and MVEE.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2020 | 0.88 |
Over the past year, the correlation between SPYE.DE and MVEE.DE has dropped to 0.66 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.
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Return for Risk
SPYE.DE vs. MVEE.DE — Risk / Return Rank
SPYE.DE
MVEE.DE
SPYE.DE vs. MVEE.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 ESG UCITS ETF (Acc) (MVEE.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 | MVEE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.20 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 1.49 | +0.80 |
| Martin ratioReturn relative to average drawdown | 8.65 | 5.15 | +3.50 |
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Drawdowns
SPYE.DE vs. MVEE.DE - Drawdown Comparison
The maximum SPYE.DE drawdown since its inception was -35.54%, which is greater than MVEE.DE's maximum drawdown of -20.19%. Use the drawdown chart below to compare losses from any high point for SPYE.DE and MVEE.DE.
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Drawdown Indicators
| SPYE.DE | MVEE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.54% | -20.19% | -15.35% |
Max Drawdown (1Y)Largest decline over 1 year | -9.45% | -7.40% | -2.05% |
Max Drawdown (3Y)Largest decline over 3 years | -16.65% | -12.19% | -4.46% |
Max Drawdown (5Y)Largest decline over 5 years | -19.53% | -20.19% | +0.66% |
Max Drawdown (10Y)Largest decline over 10 years | -35.54% | — | — |
Current DrawdownCurrent decline from peak | -0.66% | -0.57% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -5.48% | -4.49% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 2.15% | +0.36% |
Volatility
SPYE.DE vs. MVEE.DE - Volatility Comparison
SPDR MSCI Europe UCITS ETF (SPYE.DE) has a higher volatility of 2.86% compared to iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) (MVEE.DE) at 2.10%. This indicates that SPYE.DE's price experiences larger fluctuations and is considered to be riskier than MVEE.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 | MVEE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 2.10% | +0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 10.72% | 8.18% | +2.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.91% | 9.88% | +3.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.31% | 12.08% | +2.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.38% | 12.46% | +2.92% |
SPYE.DE vs. MVEE.DE - Expense Ratio Comparison
Both SPYE.DE and MVEE.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. MVEE.DE - Dividend Comparison
Neither SPYE.DE nor MVEE.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYE.DE and MVEE.DE have a correlation of 0.66, 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 MVEE.DE have the same expense ratio: 0.25% per year.
SPYE.DE tracks MSCI Europe, while MVEE.DE tracks MSCI Europe NR EUR. They also come from different issuers: State Street and iShares.
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