SPYI.DE vs. H4Z7.DE
SPYI.DE (SPDR MSCI ACWI IMI UCITS ETF) and H4Z7.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc)) are both exchange-traded funds - SPYI.DE is a Global Equities fund tracking the MSCI All Country World Investable Market (ACWI IMI), while H4Z7.DE is a REIT fund tracking the FTSE EPRA/NAREIT Developed. Both are passively managed. Over the past 3 years, SPYI.DE returned 16.73%/yr vs 6.21%/yr for H4Z7.DE. A 0.61 correlation means they provide meaningful diversification when combined. SPYI.DE charges 0.17%/yr vs 0.24%/yr for H4Z7.DE.
Performance
SPYI.DE vs. H4Z7.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYI.DE achieves a 12.53% return, which is significantly higher than H4Z7.DE's 7.83% return.
SPYI.DE
- 1D
- 1.91%
- 1M
- 2.37%
- YTD
- 12.53%
- 6M
- 14.24%
- 1Y
- 27.76%
- 3Y*
- 16.73%
- 5Y*
- 11.62%
- 10Y*
- 12.27%
H4Z7.DE
- 1D
- -0.12%
- 1M
- -0.57%
- YTD
- 7.83%
- 6M
- 8.92%
- 1Y
- 10.28%
- 3Y*
- 6.21%
- 5Y*
- —
- 10Y*
- —
SPYI.DE vs. H4Z7.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPYI.DE SPDR MSCI ACWI IMI UCITS ETF | 12.53% | 9.07% | 22.98% | 17.54% | -5.10% |
H4Z7.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc) | 7.83% | -1.78% | 5.80% | 7.39% | -12.91% |
Correlation
The correlation between SPYI.DE and H4Z7.DE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2022 | 0.61 |
The correlation between SPYI.DE and H4Z7.DE shifts across timeframes, from 0.49 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPYI.DE vs. H4Z7.DE — Risk / Return Rank
SPYI.DE
H4Z7.DE
SPYI.DE vs. H4Z7.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 HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc) (H4Z7.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 | H4Z7.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.15 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 4.20 | 1.23 | +2.97 |
| Martin ratioReturn relative to average drawdown | 16.67 | 3.99 | +12.68 |
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Drawdowns
SPYI.DE vs. H4Z7.DE - Drawdown Comparison
The maximum SPYI.DE drawdown since its inception was -41.58%, which is greater than H4Z7.DE's maximum drawdown of -26.78%. Use the drawdown chart below to compare losses from any high point for SPYI.DE and H4Z7.DE.
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Drawdown Indicators
| SPYI.DE | H4Z7.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.58% | -26.78% | -14.80% |
Max Drawdown (1Y)Largest decline over 1 year | -6.45% | -7.86% | +1.41% |
Max Drawdown (3Y)Largest decline over 3 years | -21.64% | -20.13% | -1.51% |
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 | -1.23% | -2.86% | +1.63% |
Average DrawdownAverage peak-to-trough decline | -8.43% | -11.52% | +3.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 2.42% | -0.79% |
Volatility
SPYI.DE vs. H4Z7.DE - Volatility Comparison
SPDR MSCI ACWI IMI UCITS ETF (SPYI.DE) has a higher volatility of 3.48% compared to HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc) (H4Z7.DE) at 2.87%. This indicates that SPYI.DE's price experiences larger fluctuations and is considered to be riskier than H4Z7.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYI.DE | H4Z7.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | 2.87% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 8.52% | 8.56% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.75% | 11.25% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.96% | 14.41% | -0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.96% | 14.41% | +1.55% |
SPYI.DE vs. H4Z7.DE - Expense Ratio Comparison
SPYI.DE has a 0.17% expense ratio, which is lower than H4Z7.DE's 0.24% expense ratio. Despite the difference, 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. H4Z7.DE - Dividend Comparison
Neither SPYI.DE nor H4Z7.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYI.DE and H4Z7.DE have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
SPYI.DE is cheaper with a 0.17% expense ratio, compared with 0.24% for H4Z7.DE.
SPYI.DE is categorized as Global Equities, while H4Z7.DE is REIT. SPYI.DE tracks MSCI All Country World Investable Market (ACWI IMI), while H4Z7.DE tracks FTSE EPRA/NAREIT Developed. They also come from different issuers: State Street and HSBC. Their fees differ too: 0.17% for SPYI.DE and 0.24% for H4Z7.DE.
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