SPYI.DE vs. CBUG.DE
SPYI.DE (SPDR MSCI ACWI IMI UCITS ETF) and CBUG.DE (iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist)) are both Global Equities funds - SPYI.DE tracks the MSCI All Country World Investable Market (ACWI IMI) while CBUG.DE tracks the MSCI ACWI SMID NR USD. Both are passively managed. Over the past 3 years, SPYI.DE returned 17.87%/yr vs 15.57%/yr for CBUG.DE. Their correlation of 0.87 suggests significant overlap in exposure. SPYI.DE charges 0.17%/yr vs 0.10%/yr for CBUG.DE.
Performance
SPYI.DE vs. CBUG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYI.DE achieves a 13.23% return, which is significantly lower than CBUG.DE's 18.13% return.
SPYI.DE
- 1D
- -0.35%
- 1M
- 1.07%
- YTD
- 13.23%
- 6M
- 13.80%
- 1Y
- 27.97%
- 3Y*
- 17.87%
- 5Y*
- 11.46%
- 10Y*
- 12.37%
CBUG.DE
- 1D
- 0.00%
- 1M
- 4.03%
- YTD
- 18.13%
- 6M
- 18.13%
- 1Y
- 33.12%
- 3Y*
- 15.57%
- 5Y*
- —
- 10Y*
- —
SPYI.DE vs. CBUG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPYI.DE SPDR MSCI ACWI IMI UCITS ETF | 13.23% | 9.07% | 22.98% | 17.54% | -12.93% | 2.11% |
CBUG.DE iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) | 18.13% | 6.50% | 13.10% | 11.25% | -14.07% | 2.02% |
Correlation
The correlation between SPYI.DE and CBUG.DE is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2021 | 0.87 |
The correlation between SPYI.DE and CBUG.DE has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.
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Return for Risk
SPYI.DE vs. CBUG.DE — Risk / Return Rank
SPYI.DE
CBUG.DE
SPYI.DE vs. CBUG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI IMI UCITS ETF (SPYI.DE) and iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) (CBUG.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.
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.
| SPYI.DE | CBUG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.43 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.32 | 4.55 | -0.23 |
| Martin ratioReturn relative to average drawdown | 17.14 | 17.38 | -0.25 |
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Drawdowns
SPYI.DE vs. CBUG.DE - Drawdown Comparison
The maximum SPYI.DE drawdown since its inception was -41.58%, which is greater than CBUG.DE's maximum drawdown of -24.57%. Use the drawdown chart below to compare losses from any high point for SPYI.DE and CBUG.DE.
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Drawdown Indicators
| SPYI.DE | CBUG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.58% | -24.57% | -17.01% |
Max Drawdown (1Y)Largest decline over 1 year | -6.45% | -7.24% | +0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -21.64% | -24.57% | +2.93% |
Max Drawdown (5Y)Largest decline over 5 years | -21.64% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.49% | — | — |
Current DrawdownCurrent decline from peak | -1.40% | 0.00% | -1.40% |
Average DrawdownAverage peak-to-trough decline | -8.41% | -7.40% | -1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.90% | -0.27% |
Volatility
SPYI.DE vs. CBUG.DE - Volatility Comparison
SPDR MSCI ACWI IMI UCITS ETF (SPYI.DE) and iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) (CBUG.DE) have volatilities of 3.42% and 3.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYI.DE | CBUG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 3.37% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 8.53% | 9.98% | -1.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.75% | 13.97% | -2.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.97% | 16.66% | -2.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.93% | 16.66% | -0.73% |
SPYI.DE vs. CBUG.DE - Expense Ratio Comparison
SPYI.DE has a 0.17% expense ratio, which is higher than CBUG.DE's 0.10% 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
SPYI.DE vs. CBUG.DE - Dividend Comparison
Neither SPYI.DE nor CBUG.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYI.DE and CBUG.DE have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBUG.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBUG.DE is cheaper with a 0.10% expense ratio, compared with 0.17% for SPYI.DE.
SPYI.DE tracks MSCI All Country World Investable Market (ACWI IMI), while CBUG.DE tracks MSCI ACWI SMID NR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.17% for SPYI.DE and 0.10% for CBUG.DE.
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