SPYE.DE vs. VVSM.DE
SPYE.DE (SPDR MSCI Europe UCITS ETF) and VVSM.DE (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - SPYE.DE is a Europe Equities fund tracking the MSCI Europe, while VVSM.DE is a Semiconductors fund tracking the MVIS US Listed Semiconductor 10% Capped ESG Index. Both are passively managed. Over the past 5 years, SPYE.DE returned 9.86%/yr vs 38.05%/yr for VVSM.DE. A 0.57 correlation means they provide meaningful diversification when combined. SPYE.DE charges 0.25%/yr vs 0.35%/yr for VVSM.DE.
Performance
SPYE.DE vs. VVSM.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 VVSM.DE's 86.02% 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%
VVSM.DE
- 1D
- -2.77%
- 1M
- 17.60%
- YTD
- 86.02%
- 6M
- 84.42%
- 1Y
- 162.55%
- 3Y*
- 56.95%
- 5Y*
- 38.05%
- 10Y*
- —
SPYE.DE vs. VVSM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPYE.DE SPDR MSCI Europe UCITS ETF | 7.68% | 20.32% | 8.24% | 15.50% | -9.42% | 25.11% | 2.30% |
VVSM.DE VanEck Semiconductor UCITS ETF | 86.02% | 33.22% | 31.47% | 70.16% | -32.77% | 58.37% | 1.50% |
Correlation
The correlation between SPYE.DE and VVSM.DE is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | 0.57 |
The correlation between SPYE.DE and VVSM.DE has been stable across timeframes, ranging from 0.50 to 0.57 - a consistent structural relationship.
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Return for Risk
SPYE.DE vs. VVSM.DE — Risk / Return Rank
SPYE.DE
VVSM.DE
SPYE.DE vs. VVSM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe UCITS ETF (SPYE.DE) and VanEck Semiconductor UCITS ETF (VVSM.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 | VVSM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.90 | ||
| Sortino ratioReturn per unit of downside risk | -3.43 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.68 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 14.16 | -12.43 |
| Martin ratioReturn relative to average drawdown | 6.36 | 48.94 | -42.58 |
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 | VVSM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 5.17 | -3.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 1.21 | -0.52 |
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 | 1.24 | -0.72 |
Drawdowns
SPYE.DE vs. VVSM.DE - Drawdown Comparison
The maximum SPYE.DE drawdown since its inception was -35.54%, smaller than the maximum VVSM.DE drawdown of -37.64%. Use the drawdown chart below to compare losses from any high point for SPYE.DE and VVSM.DE.
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Drawdown Indicators
| SPYE.DE | VVSM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.54% | -37.64% | +2.10% |
Max Drawdown (1Y)Largest decline over 1 year | -9.45% | -11.65% | +2.20% |
Max Drawdown (3Y)Largest decline over 3 years | -16.65% | -37.53% | +20.88% |
Max Drawdown (5Y)Largest decline over 5 years | -19.53% | -37.64% | +18.11% |
Max Drawdown (10Y)Largest decline over 10 years | -35.54% | — | — |
Current DrawdownCurrent decline from peak | -1.47% | -2.77% | +1.30% |
Average DrawdownAverage peak-to-trough decline | -5.36% | -10.22% | +4.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 3.38% | -0.79% |
Volatility
SPYE.DE vs. VVSM.DE - Volatility Comparison
The current volatility for SPDR MSCI Europe UCITS ETF (SPYE.DE) is 4.24%, while VanEck Semiconductor UCITS ETF (VVSM.DE) has a volatility of 12.04%. This indicates that SPYE.DE experiences smaller price fluctuations and is considered to be less risky than VVSM.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 | VVSM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 12.04% | -7.80% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 24.35% | -13.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.87% | 31.92% | -19.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.30% | 31.15% | -16.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.71% | 30.81% | -15.10% |
SPYE.DE vs. VVSM.DE - Expense Ratio Comparison
SPYE.DE has a 0.25% expense ratio, which is lower than VVSM.DE's 0.35% expense ratio.
Dividends
SPYE.DE vs. VVSM.DE - Dividend Comparison
Neither SPYE.DE nor VVSM.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYE.DE and VVSM.DE have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYE.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYE.DE is cheaper with a 0.25% expense ratio, compared with 0.35% for VVSM.DE.
SPYE.DE is categorized as Europe Equities, while VVSM.DE is Semiconductors. SPYE.DE tracks MSCI Europe, while VVSM.DE tracks MVIS US Listed Semiconductor 10% Capped ESG Index. They also come from different issuers: State Street and VanEck. Their fees differ too: 0.25% for SPYE.DE and 0.35% for VVSM.DE.
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