SPYI.DE vs. GVLU

Last updated Jun 5, 2026

SPYI.DE (SPDR MSCI ACWI IMI UCITS ETF) and GVLU (Gotham 1000 Value ETF) are both exchange-traded funds - SPYI.DE is a Global Equities fund tracking the MSCI All Country World Investable Market (ACWI IMI), while GVLU is a Mid Cap Value Equities fund actively managed by Gotham. SPYI.DE is passively managed, while GVLU is actively managed. Over the past 3 years, SPYI.DE returned 17.57%/yr vs 13.18%/yr for GVLU. At a 0.50 correlation, their price movements are largely independent. SPYI.DE charges 0.17%/yr vs 0.51%/yr for GVLU.

Performance

SPYI.DE vs. GVLU - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI ACWI IMI UCITS ETF (SPYI.DE) and Gotham 1000 Value ETF (GVLU). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPYI.DE is traded in EUR, while GVLU is traded in USD. To make them comparable, the GVLU values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPYI.DE achieves a 13.27% return, which is significantly higher than GVLU's 8.63% return.

SPYI.DE

• 1D: -0.12%
• 1M: 5.15%
• YTD: 13.27%
• 6M: 13.93%
• 1Y: 27.79%
• 3Y*: 17.57%
• 5Y*: 12.01%
• 10Y*: 12.12%

GVLU

• 1D: 0.29%
• 1M: 1.67%
• YTD: 8.63%
• 6M: 8.45%
• 1Y: 17.43%
• 3Y*: 13.18%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPYI.DE vs. GVLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SPYI.DE SPDR MSCI ACWI IMI UCITS ETF	13.27%	9.10%	22.92%	17.54%	-6.16%
GVLU Gotham 1000 Value ETF	8.63%	-1.96%	18.43%	14.49%	-3.70%

Correlation

The correlation between SPYI.DE and GVLU is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jun 9, 2022	0.50

The correlation between SPYI.DE and GVLU shifts across timeframes, from 0.37 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPYI.DE vs. GVLU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPYI.DE

SPYI.DE Risk / Return Rank: 79
SPYI.DE Sharpe Ratio Rank: 76
SPYI.DE Sortino Ratio Rank: 76
SPYI.DE Omega Ratio Rank: 78
SPYI.DE Calmar Ratio Rank: 82
SPYI.DE Martin Ratio Rank: 85

GVLU

GVLU Risk / Return Rank: 45
GVLU Sharpe Ratio Rank: 42
GVLU Sortino Ratio Rank: 46
GVLU Omega Ratio Rank: 39
GVLU Calmar Ratio Rank: 49
GVLU Martin Ratio Rank: 47

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPYI.DE vs. GVLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI IMI UCITS ETF (SPYI.DE) and Gotham 1000 Value ETF (GVLU). 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.

	SPYI.DE	GVLU	Difference
Sharpe ratio: Return per unit of total volatility	2.41	1.29	+1.12
Sortino ratio: Return per unit of downside risk	3.38	1.89	+1.49
Omega ratio: Gain probability vs. loss probability	1.45	1.22	+0.23
Calmar ratio: Return relative to maximum drawdown	4.32	2.69	+1.62
Martin ratio: Return relative to average drawdown	17.43	9.08	+8.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYI.DE vs. GVLU - Sharpe Ratio Comparison

The current SPYI.DE Sharpe Ratio is 2.41, which is higher than the GVLU Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of SPYI.DE and GVLU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPYI.DE	GVLU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	1.29	+1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.49	+0.34

Drawdowns

SPYI.DE vs. GVLU - Drawdown Comparison

The maximum SPYI.DE drawdown since its inception was -34.60%, which is greater than GVLU's maximum drawdown of -24.14%. Use the drawdown chart below to compare losses from any high point for SPYI.DE and GVLU.

Drawdown Indicators

	SPYI.DE	GVLU	Difference
Max Drawdown Largest peak-to-trough decline	-34.60%	-24.14%	-10.46%
Max Drawdown (1Y) Largest decline over 1 year	-6.41%	-6.50%	+0.09%
Max Drawdown (3Y) Largest decline over 3 years	-21.66%	-24.14%	+2.48%
Max Drawdown (5Y) Largest decline over 5 years	-21.66%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.60%	—	—
Current Drawdown Current decline from peak	-0.56%	-0.64%	+0.08%
Average Drawdown Average peak-to-trough decline	-4.34%	-5.84%	+1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	1.93%	-0.34%

Volatility

SPYI.DE vs. GVLU - Volatility Comparison

SPDR MSCI ACWI IMI UCITS ETF (SPYI.DE) has a higher volatility of 3.11% compared to Gotham 1000 Value ETF (GVLU) at 2.68%. This indicates that SPYI.DE's price experiences larger fluctuations and is considered to be riskier than GVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYI.DE	GVLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	2.68%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	8.21%	9.48%	-1.27%
Volatility (1Y) Calculated over the trailing 1-year period	11.48%	13.57%	-2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.90%	17.60%	-3.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.18%	17.60%	-2.42%

SPYI.DE vs. GVLU - Expense Ratio Comparison

SPYI.DE has a 0.17% expense ratio, which is lower than GVLU's 0.51% expense ratio.

Dividends

SPYI.DE vs. GVLU - Dividend Comparison

SPYI.DE has not paid dividends to shareholders, while GVLU's dividend yield for the trailing twelve months is around 6.00%.

Position	TTM	2025	2024	2023	2022
GVLU Gotham 1000 Value ETF	6.00%	6.44%	2.88%	1.62%	0.98%
SPYI.DE SPDR MSCI ACWI IMI UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPYI.DE and GVLU in my portfolio?

SPYI.DE and GVLU have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPYI.DE or GVLU?

On fees, SPYI.DE is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPYI.DE or GVLU?

SPYI.DE is cheaper with a 0.17% expense ratio, compared with 0.51% for GVLU.

What is the main difference between SPYI.DE and GVLU?

SPYI.DE is categorized as Global Equities, while GVLU is Mid Cap Value Equities. They also come from different issuers: State Street and Gotham. Their fees differ too: 0.17% for SPYI.DE and 0.51% for GVLU.