SPYE.DE vs. XESP.DE
SPYE.DE (SPDR MSCI Europe UCITS ETF) and XESP.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - SPYE.DE tracks the MSCI Europe while XESP.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 5 years, SPYE.DE returned 9.86%/yr vs 18.91%/yr for XESP.DE. A 0.80 correlation means they provide meaningful diversification when combined. SPYE.DE charges 0.25%/yr vs 0.30%/yr for XESP.DE.
Performance
SPYE.DE vs. XESP.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SPYE.DE having a 7.68% return and XESP.DE slightly lower at 7.33%.
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%
XESP.DE
- 1D
- 0.58%
- 1M
- 1.35%
- YTD
- 7.33%
- 6M
- 11.94%
- 1Y
- 34.69%
- 3Y*
- 29.44%
- 5Y*
- 18.91%
- 10Y*
- —
SPYE.DE vs. XESP.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% | 3.22% |
XESP.DE Xtrackers Spanish Equity UCITS ETF | 7.33% | 58.64% | 14.65% | 26.79% | -1.62% | 10.88% | -10.20% | 15.86% | -12.41% | -1.69% |
Correlation
The correlation between SPYE.DE and XESP.DE is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2017 | 0.80 |
The correlation between SPYE.DE and XESP.DE has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.
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Return for Risk
SPYE.DE vs. XESP.DE — Risk / Return Rank
SPYE.DE
XESP.DE
SPYE.DE vs. XESP.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe UCITS ETF (SPYE.DE) and Xtrackers Spanish Equity UCITS ETF (XESP.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 | XESP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.38 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 3.51 | -1.77 |
| Martin ratioReturn relative to average drawdown | 6.36 | 12.31 | -5.95 |
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 | XESP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 2.12 | -0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 1.12 | -0.44 |
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 | 0.55 | -0.03 |
Drawdowns
SPYE.DE vs. XESP.DE - Drawdown Comparison
The maximum SPYE.DE drawdown since its inception was -35.54%, smaller than the maximum XESP.DE drawdown of -39.02%. Use the drawdown chart below to compare losses from any high point for SPYE.DE and XESP.DE.
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Drawdown Indicators
| SPYE.DE | XESP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.54% | -39.02% | +3.48% |
Max Drawdown (1Y)Largest decline over 1 year | -9.45% | -10.17% | +0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -16.65% | -12.93% | -3.72% |
Max Drawdown (5Y)Largest decline over 5 years | -19.53% | -18.59% | -0.94% |
Max Drawdown (10Y)Largest decline over 10 years | -35.54% | — | — |
Current DrawdownCurrent decline from peak | -1.47% | -0.54% | -0.93% |
Average DrawdownAverage peak-to-trough decline | -5.36% | -7.37% | +2.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 2.91% | -0.32% |
Volatility
SPYE.DE vs. XESP.DE - Volatility Comparison
The current volatility for SPDR MSCI Europe UCITS ETF (SPYE.DE) is 4.24%, while Xtrackers Spanish Equity UCITS ETF (XESP.DE) has a volatility of 4.48%. This indicates that SPYE.DE experiences smaller price fluctuations and is considered to be less risky than XESP.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 | XESP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 4.48% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 14.04% | -3.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.87% | 16.86% | -3.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.30% | 16.68% | -2.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.71% | 18.78% | -3.07% |
SPYE.DE vs. XESP.DE - Expense Ratio Comparison
SPYE.DE has a 0.25% expense ratio, which is lower than XESP.DE's 0.30% expense ratio.
Dividends
SPYE.DE vs. XESP.DE - Dividend Comparison
Neither SPYE.DE nor XESP.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYE.DE and XESP.DE have a correlation of 0.81, 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 0.30% for XESP.DE.
SPYE.DE tracks MSCI Europe, while XESP.DE tracks Solactive Spain 40. They also come from different issuers: State Street and Xtrackers. Their fees differ too: 0.25% for SPYE.DE and 0.30% for XESP.DE.
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