SPYE.DE vs. SC0D.DE

Last updated Jun 5, 2026

SPYE.DE (SPDR MSCI Europe UCITS ETF) and SC0D.DE (Invesco EURO STOXX 50 UCITS ETF) are both Europe Equities funds - SPYE.DE tracks the MSCI Europe while SC0D.DE tracks the EURO STOXX® 50. Both are passively managed. Over the past 10 years, SPYE.DE returned 9.09%/yr vs 10.37%/yr for SC0D.DE. With a 0.95 correlation, they move nearly in lockstep. SPYE.DE charges 0.25%/yr vs 0.05%/yr for SC0D.DE.

Performance

SPYE.DE vs. SC0D.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI Europe UCITS ETF (SPYE.DE) and Invesco EURO STOXX 50 UCITS ETF (SC0D.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYE.DE achieves a 7.68% return, which is significantly higher than SC0D.DE's 7.29% return. Over the past 10 years, SPYE.DE has underperformed SC0D.DE with an annualized return of 9.09%, while SC0D.DE has yielded a comparatively higher 10.37% 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%

SC0D.DE

• 1D: 0.74%
• 1M: 1.96%
• YTD: 7.29%
• 6M: 8.66%
• 1Y: 15.55%
• 3Y*: 15.50%
• 5Y*: 11.35%
• 10Y*: 10.37%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPYE.DE vs. SC0D.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%
SC0D.DE Invesco EURO STOXX 50 UCITS ETF	7.29%	22.01%	10.91%	22.46%	-9.02%	23.19%	-3.03%	30.01%	-12.05%	10.07%

Correlation

The correlation between SPYE.DE and SC0D.DE is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since May 14, 2013	0.95

The correlation between SPYE.DE and SC0D.DE has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

SPYE.DE vs. SC0D.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPYE.DE

SPYE.DE Risk / Return Rank: 37
SPYE.DE Sharpe Ratio Rank: 37
SPYE.DE Sortino Ratio Rank: 37
SPYE.DE Omega Ratio Rank: 38
SPYE.DE Calmar Ratio Rank: 36
SPYE.DE Martin Ratio Rank: 41

SC0D.DE

SC0D.DE Risk / Return Rank: 29
SC0D.DE Sharpe Ratio Rank: 28
SC0D.DE Sortino Ratio Rank: 29
SC0D.DE Omega Ratio Rank: 28
SC0D.DE Calmar Ratio Rank: 29
SC0D.DE Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPYE.DE vs. SC0D.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe UCITS ETF (SPYE.DE) and Invesco EURO STOXX 50 UCITS ETF (SC0D.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	SC0D.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.28	0.98	+0.30
Sortino ratio: Return per unit of downside risk	1.87	1.54	+0.34
Omega ratio: Gain probability vs. loss probability	1.24	1.18	+0.06
Calmar ratio: Return relative to maximum drawdown	1.74	1.43	+0.31
Martin ratio: Return relative to average drawdown	6.36	4.87	+1.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYE.DE vs. SC0D.DE - Sharpe Ratio Comparison

The current SPYE.DE Sharpe Ratio is 1.28, which is higher than the SC0D.DE Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of SPYE.DE and SC0D.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPYE.DE	SC0D.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	0.98	+0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.64	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.56	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.46	+0.06

Drawdowns

SPYE.DE vs. SC0D.DE - Drawdown Comparison

The maximum SPYE.DE drawdown since its inception was -35.54%, smaller than the maximum SC0D.DE drawdown of -38.50%. Use the drawdown chart below to compare losses from any high point for SPYE.DE and SC0D.DE.

Drawdown Indicators

	SPYE.DE	SC0D.DE	Difference
Max Drawdown Largest peak-to-trough decline	-35.54%	-38.50%	+2.96%
Max Drawdown (1Y) Largest decline over 1 year	-9.45%	-10.93%	+1.48%
Max Drawdown (3Y) Largest decline over 3 years	-16.65%	-16.54%	-0.11%
Max Drawdown (5Y) Largest decline over 5 years	-19.53%	-23.38%	+3.85%
Max Drawdown (10Y) Largest decline over 10 years	-35.54%	-38.50%	+2.96%
Current Drawdown Current decline from peak	-1.47%	-0.53%	-0.94%
Average Drawdown Average peak-to-trough decline	-5.36%	-7.22%	+1.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	3.21%	-0.62%

Volatility

SPYE.DE vs. SC0D.DE - Volatility Comparison

The current volatility for SPDR MSCI Europe UCITS ETF (SPYE.DE) is 4.24%, while Invesco EURO STOXX 50 UCITS ETF (SC0D.DE) has a volatility of 4.94%. This indicates that SPYE.DE experiences smaller price fluctuations and is considered to be less risky than SC0D.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYE.DE	SC0D.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.24%	4.94%	-0.70%
Volatility (6M) Calculated over the trailing 6-month period	10.58%	12.94%	-2.36%
Volatility (1Y) Calculated over the trailing 1-year period	12.87%	15.95%	-3.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.30%	17.53%	-3.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.71%	18.27%	-2.56%

SPYE.DE vs. SC0D.DE - Expense Ratio Comparison

SPYE.DE has a 0.25% expense ratio, which is higher than SC0D.DE's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPYE.DE vs. SC0D.DE - Dividend Comparison

Neither SPYE.DE nor SC0D.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SPYE.DE and SC0D.DE in my portfolio?

With a correlation of 0.94, SPYE.DE and SC0D.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, SPYE.DE or SC0D.DE?

On fees, SC0D.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPYE.DE or SC0D.DE?

SC0D.DE is cheaper with a 0.05% expense ratio, compared with 0.25% for SPYE.DE.

What is the main difference between SPYE.DE and SC0D.DE?

SPYE.DE tracks MSCI Europe, while SC0D.DE tracks EURO STOXX® 50. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.25% for SPYE.DE and 0.05% for SC0D.DE.