SPYE.DE vs. SPPW.DE
SPYE.DE (SPDR MSCI Europe UCITS ETF) and SPPW.DE (SPDR MSCI World UCITS ETF) are both exchange-traded funds - SPYE.DE is a Europe Equities fund tracking the MSCI Europe, while SPPW.DE is a Global Equities fund tracking the MSCI World. Both are passively managed. Over the past 5 years, SPYE.DE returned 9.86%/yr vs 13.03%/yr for SPPW.DE. Their correlation of 0.81 suggests significant overlap in exposure. SPYE.DE charges 0.25%/yr vs 0.12%/yr for SPPW.DE.
Performance
SPYE.DE vs. SPPW.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 SPPW.DE's 10.85% 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%
SPPW.DE
- 1D
- -0.31%
- 1M
- 3.71%
- YTD
- 10.85%
- 6M
- 10.95%
- 1Y
- 23.79%
- 3Y*
- 17.79%
- 5Y*
- 13.03%
- 10Y*
- —
SPYE.DE vs. SPPW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPYE.DE SPDR MSCI Europe UCITS ETF | 7.68% | 20.32% | 8.24% | 15.50% | -9.42% | 25.11% | -3.25% | 14.42% |
SPPW.DE SPDR MSCI World UCITS ETF | 10.85% | 8.03% | 26.09% | 20.25% | -13.28% | 32.66% | 5.27% | 17.24% |
Correlation
The correlation between SPYE.DE and SPPW.DE is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2019 | 0.81 |
The correlation between SPYE.DE and SPPW.DE has been stable across timeframes, ranging from 0.71 to 0.81 - a consistent structural relationship.
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Return for Risk
SPYE.DE vs. SPPW.DE — Risk / Return Rank
SPYE.DE
SPPW.DE
SPYE.DE vs. SPPW.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe UCITS ETF (SPYE.DE) and SPDR MSCI World UCITS ETF (SPPW.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 | SPPW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.40 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 3.66 | -1.93 |
| Martin ratioReturn relative to average drawdown | 6.36 | 14.69 | -8.34 |
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 | SPPW.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 2.16 | -0.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.92 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.86 | -0.34 |
Drawdowns
SPYE.DE vs. SPPW.DE - Drawdown Comparison
The maximum SPYE.DE drawdown since its inception was -35.54%, which is greater than SPPW.DE's maximum drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for SPYE.DE and SPPW.DE.
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Drawdown Indicators
| SPYE.DE | SPPW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.54% | -33.69% | -1.85% |
Max Drawdown (1Y)Largest decline over 1 year | -9.45% | -6.51% | -2.94% |
Max Drawdown (3Y)Largest decline over 3 years | -16.65% | -21.62% | +4.97% |
Max Drawdown (5Y)Largest decline over 5 years | -19.53% | -21.62% | +2.09% |
Max Drawdown (10Y)Largest decline over 10 years | -35.54% | — | — |
Current DrawdownCurrent decline from peak | -1.47% | -0.31% | -1.16% |
Average DrawdownAverage peak-to-trough decline | -5.36% | -4.43% | -0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 1.63% | +0.96% |
Volatility
SPYE.DE vs. SPPW.DE - Volatility Comparison
SPDR MSCI Europe UCITS ETF (SPYE.DE) has a higher volatility of 4.24% compared to SPDR MSCI World UCITS ETF (SPPW.DE) at 2.70%. This indicates that SPYE.DE's price experiences larger fluctuations and is considered to be riskier than SPPW.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 | SPPW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 2.70% | +1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 7.62% | +2.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.87% | 11.11% | +1.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.30% | 14.06% | +0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.71% | 16.08% | -0.37% |
SPYE.DE vs. SPPW.DE - Expense Ratio Comparison
SPYE.DE has a 0.25% expense ratio, which is higher than SPPW.DE's 0.12% 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. SPPW.DE - Dividend Comparison
Neither SPYE.DE nor SPPW.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYE.DE and SPPW.DE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPPW.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPPW.DE is cheaper with a 0.12% expense ratio, compared with 0.25% for SPYE.DE.
SPYE.DE is categorized as Europe Equities, while SPPW.DE is Global Equities. SPYE.DE tracks MSCI Europe, while SPPW.DE tracks MSCI World. Their fees differ too: 0.25% for SPYE.DE and 0.12% for SPPW.DE.
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