SPYE.DE vs. SPEU

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR MSCI Europe UCITS ETF (SPYE.DE) and SPDR Portfolio Europe ETF (SPEU).

SPYE.DE and SPEU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPYE.DE is a passively managed fund by State Street that tracks the performance of the MSCI Europe. It was launched on Dec 5, 2014. SPEU is a passively managed fund by State Street that tracks the performance of the STOXX Europe Total Market. It was launched on Oct 15, 2002. Both SPYE.DE and SPEU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPYE.DE vs. SPEU - Performance Comparison

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

SPYE.DE vs. SPEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYE.DE SPDR MSCI Europe UCITS ETF	1.43%	20.32%	8.24%	15.50%	-9.42%	25.11%	-3.25%	27.31%	-10.83%	10.49%
SPEU SPDR Portfolio Europe ETF	1.77%	19.69%	8.66%	16.26%	-10.76%	24.89%	-2.41%	29.00%	-9.74%	8.59%

Different Trading Currencies

SPYE.DE is traded in EUR, while SPEU is traded in USD. To make them comparable, the SPEU values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPYE.DE achieves a 1.43% return, which is significantly lower than SPEU's 1.77% return. Both investments have delivered pretty close results over the past 10 years, with SPYE.DE having a 8.92% annualized return and SPEU not far ahead at 9.00%.

SPYE.DE

• 1D: 2.44%
• 1M: -3.91%
• YTD: 1.43%
• 6M: 6.64%
• 1Y: 13.39%
• 3Y*: 12.05%
• 5Y*: 9.81%
• 10Y*: 8.92%

SPEU

• 1D: 1.40%
• 1M: -3.89%
• YTD: 1.77%
• 6M: 6.35%
• 1Y: 14.14%
• 3Y*: 12.27%
• 5Y*: 9.23%
• 10Y*: 9.00%

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

SPYE.DE vs. SPEU - Expense Ratio Comparison

SPYE.DE has a 0.25% expense ratio, which is higher than SPEU's 0.09% 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%.

SPYE.DE

SPDR MSCI Europe UCITS ETF

SPEU

SPDR Portfolio Europe ETF

Return for Risk

SPYE.DE vs. SPEU — 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: 45
SPYE.DE Sharpe Ratio Rank: 45
SPYE.DE Sortino Ratio Rank: 40
SPYE.DE Omega Ratio Rank: 46
SPYE.DE Calmar Ratio Rank: 46
SPYE.DE Martin Ratio Rank: 48

SPEU

SPEU Risk / Return Rank: 70
SPEU Sharpe Ratio Rank: 71
SPEU Sortino Ratio Rank: 70
SPEU Omega Ratio Rank: 68
SPEU Calmar Ratio Rank: 71
SPEU Martin Ratio Rank: 67

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. SPEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe UCITS ETF (SPYE.DE) and SPDR Portfolio Europe ETF (SPEU). 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	SPEU	Difference
Sharpe ratio Return per unit of total volatility	0.88	0.86	+0.02
Sortino ratio Return per unit of downside risk	1.21	1.27	-0.05
Omega ratio Gain probability vs. loss probability	1.19	1.18	0.00
Calmar ratio Return relative to maximum drawdown	1.36	1.23	+0.13
Martin ratio Return relative to average drawdown	5.20	5.02	+0.18
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. SPEU - Sharpe Ratio Comparison

The current SPYE.DE Sharpe Ratio is 0.88, which is comparable to the SPEU Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of SPYE.DE and SPEU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPYE.DE	SPEU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	0.86	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.65	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.54	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.22	+0.28

Correlation

The correlation between SPYE.DE and SPEU is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SPYE.DE vs. SPEU - Dividend Comparison

SPYE.DE has not paid dividends to shareholders, while SPEU's dividend yield for the trailing twelve months is around 3.57%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYE.DE SPDR MSCI Europe UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPEU SPDR Portfolio Europe ETF	3.57%	3.47%	3.29%	2.91%	3.08%	2.67%	2.29%	3.19%	3.99%	2.82%	3.66%	3.62%

Drawdowns

SPYE.DE vs. SPEU - Drawdown Comparison

The maximum SPYE.DE drawdown since its inception was -35.54%, smaller than the maximum SPEU drawdown of -57.79%. Use the drawdown chart below to compare losses from any high point for SPYE.DE and SPEU.

Drawdown Indicators

	SPYE.DE	SPEU	Difference
Max Drawdown Largest peak-to-trough decline	-35.54%	-62.45%	+26.91%
Max Drawdown (1Y) Largest decline over 1 year	-12.64%	-12.09%	-0.55%
Max Drawdown (5Y) Largest decline over 5 years	-19.53%	-32.70%	+13.17%
Max Drawdown (10Y) Largest decline over 10 years	-35.54%	-36.83%	+1.29%
Current Drawdown Current decline from peak	-5.45%	-7.28%	+1.83%
Average Drawdown Average peak-to-trough decline	-5.40%	-13.92%	+8.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	3.19%	-0.54%

Volatility

SPYE.DE vs. SPEU - Volatility Comparison

The current volatility for SPDR MSCI Europe UCITS ETF (SPYE.DE) is 5.70%, while SPDR Portfolio Europe ETF (SPEU) has a volatility of 6.32%. This indicates that SPYE.DE experiences smaller price fluctuations and is considered to be less risky than SPEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYE.DE	SPEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.70%	6.32%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	9.08%	9.77%	-0.69%
Volatility (1Y) Calculated over the trailing 1-year period	15.11%	16.51%	-1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.12%	14.33%	-0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.68%	16.85%	-1.17%