SPYH.DE vs. MSTR
SPYH.DE (State Street SPDR MSCI Europe Health Care UCITS ETF) is Health & Biotech Equities fund tracking the MSCI Europe Health Care 35/20 Capped Index, while MSTR (Strategy Inc) is a stock. Over the past 10 years, SPYH.DE returned 7.26%/yr vs 17.35%/yr for MSTR. At a 0.19 correlation, their price movements are largely independent.
Performance
SPYH.DE vs. MSTR - Performance Comparison
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Different Trading Currencies
SPYH.DE is traded in EUR, while MSTR is traded in USD. To make them comparable, the MSTR values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPYH.DE achieves a 3.28% return, which is significantly higher than MSTR's -41.96% return. Over the past 10 years, SPYH.DE has underperformed MSTR with an annualized return of 7.26%, while MSTR has yielded a comparatively higher 17.35% annualized return.
SPYH.DE
- 1D
- 1.55%
- 1M
- 4.04%
- YTD
- 3.28%
- 6M
- 3.42%
- 1Y
- 16.39%
- 3Y*
- 5.66%
- 5Y*
- 5.89%
- 10Y*
- 7.26%
MSTR
- 1D
- -9.41%
- 1M
- -45.40%
- YTD
- -41.96%
- 6M
- -44.28%
- 1Y
- -77.49%
- 3Y*
- 38.86%
- 5Y*
- 10.25%
- 10Y*
- 17.35%
SPYH.DE vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYH.DE State Street SPDR MSCI Europe Health Care UCITS ETF | 3.28% | 7.82% | 3.98% | 7.88% | -4.55% | 25.71% | -2.51% | 33.07% | -1.21% | 2.94% |
MSTR Strategy Inc | -41.96% | -53.76% | 388.80% | 332.78% | -72.39% | 50.62% | 149.96% | 14.17% | 1.86% | -41.66% |
Correlation
The correlation between SPYH.DE and MSTR is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2010 | 0.19 |
The correlation between SPYH.DE and MSTR shifts across timeframes, from 0.02 (3 years) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPYH.DE vs. MSTR — Risk / Return Rank
SPYH.DE
MSTR
SPYH.DE vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI Europe Health Care UCITS ETF (SPYH.DE) and Strategy Inc (MSTR). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SPYH.DE | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.02 | ||
| Sortino ratioReturn per unit of downside risk | +3.79 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.76 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | -0.96 | +2.26 |
| Martin ratioReturn relative to average drawdown | 2.95 | -1.41 | +4.37 |
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Drawdowns
SPYH.DE vs. MSTR - Drawdown Comparison
The maximum SPYH.DE drawdown since its inception was -26.62%, smaller than the maximum MSTR drawdown of -87.80%. Use the drawdown chart below to compare losses from any high point for SPYH.DE and MSTR.
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Drawdown Indicators
| SPYH.DE | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.62% | -87.80% | +61.18% |
Max Drawdown (1Y)Largest decline over 1 year | -12.58% | -80.83% | +68.25% |
Max Drawdown (3Y)Largest decline over 3 years | -26.62% | -83.29% | +56.67% |
Max Drawdown (5Y)Largest decline over 5 years | -26.62% | -83.29% | +56.67% |
Max Drawdown (10Y)Largest decline over 10 years | -26.62% | -87.80% | +61.18% |
Current DrawdownCurrent decline from peak | -5.94% | -83.29% | +77.35% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -34.73% | +27.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.54% | 54.80% | -49.26% |
Volatility
SPYH.DE vs. MSTR - Volatility Comparison
The current volatility for State Street SPDR MSCI Europe Health Care UCITS ETF (SPYH.DE) is 6.37%, while Strategy Inc (MSTR) has a volatility of 23.62%. This indicates that SPYH.DE experiences smaller price fluctuations and is considered to be less risky than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYH.DE | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.37% | 23.62% | -17.25% |
Volatility (6M)Calculated over the trailing 6-month period | 12.59% | 58.30% | -45.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.23% | 72.51% | -55.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.82% | 89.63% | -73.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.83% | 73.44% | -57.61% |
Dividends
SPYH.DE vs. MSTR - Dividend Comparison
Neither SPYH.DE nor MSTR has paid dividends to shareholders.
Frequently Asked Questions
SPYH.DE and MSTR have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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