SPYI.DE vs. HTGC

Last updated Jun 5, 2026

SPYI.DE (SPDR MSCI ACWI IMI UCITS ETF) is Global Equities fund tracking the MSCI All Country World Investable Market (ACWI IMI), while HTGC (Hercules Capital, Inc.) is a stock. Over the past 10 years, SPYI.DE returned 12.12%/yr vs 13.31%/yr for HTGC. At a 0.30 correlation, their price movements are largely independent.

Performance

SPYI.DE vs. HTGC - Performance Comparison

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

Different Trading Currencies

SPYI.DE is traded in EUR, while HTGC is traded in USD. To make them comparable, the HTGC 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 HTGC's -11.40% return. Over the past 10 years, SPYI.DE has underperformed HTGC with an annualized return of 12.12%, while HTGC has yielded a comparatively higher 13.31% annualized 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%

HTGC

• 1D: 2.16%
• 1M: -2.96%
• YTD: -11.40%
• 6M: -12.72%
• 1Y: -3.74%
• 3Y*: 10.12%
• 5Y*: 10.54%
• 10Y*: 13.31%

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

SPYI.DE vs. HTGC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYI.DE SPDR MSCI ACWI IMI UCITS ETF	13.27%	9.10%	22.92%	17.54%	-12.90%	27.74%	5.39%	29.64%	-6.71%	8.46%
HTGC Hercules Capital, Inc.	-11.40%	-8.75%	42.13%	38.63%	-4.87%	35.96%	5.05%	43.02%	-2.49%	-10.66%

Correlation

The correlation between SPYI.DE and HTGC is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jul 11, 2011	0.30

The correlation between SPYI.DE and HTGC shifts across timeframes, from 0.20 (1 year) to 0.35 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

SPYI.DE vs. HTGC — 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

HTGC

HTGC Risk / Return Rank: 35
HTGC Sharpe Ratio Rank: 38
HTGC Sortino Ratio Rank: 32
HTGC Omega Ratio Rank: 31
HTGC Calmar Ratio Rank: 38
HTGC Martin Ratio Rank: 38

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. HTGC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI IMI UCITS ETF (SPYI.DE) and Hercules Capital, Inc. (HTGC). 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	HTGC	Difference
Sharpe ratio: Return per unit of total volatility	2.41	-0.16	+2.57
Sortino ratio: Return per unit of downside risk	3.38	-0.06	+3.44
Omega ratio: Gain probability vs. loss probability	1.45	0.99	+0.46
Calmar ratio: Return relative to maximum drawdown	4.32	-0.16	+4.47
Martin ratio: Return relative to average drawdown	17.43	-0.35	+17.78
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. HTGC - Sharpe Ratio Comparison

The current SPYI.DE Sharpe Ratio is 2.41, which is higher than the HTGC Sharpe Ratio of -0.16. The chart below compares the historical Sharpe Ratios of SPYI.DE and HTGC, 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	HTGC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	-0.16	+2.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.41	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.47	+0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.40	+0.43

Drawdowns

SPYI.DE vs. HTGC - Drawdown Comparison

The maximum SPYI.DE drawdown since its inception was -34.60%, smaller than the maximum HTGC drawdown of -62.11%. Use the drawdown chart below to compare losses from any high point for SPYI.DE and HTGC.

Drawdown Indicators

	SPYI.DE	HTGC	Difference
Max Drawdown Largest peak-to-trough decline	-34.60%	-62.11%	+27.51%
Max Drawdown (1Y) Largest decline over 1 year	-6.41%	-24.07%	+17.66%
Max Drawdown (3Y) Largest decline over 3 years	-21.66%	-35.04%	+13.38%
Max Drawdown (5Y) Largest decline over 5 years	-21.66%	-35.04%	+13.38%
Max Drawdown (10Y) Largest decline over 10 years	-34.60%	-57.40%	+22.80%
Current Drawdown Current decline from peak	-0.56%	-25.67%	+25.11%
Average Drawdown Average peak-to-trough decline	-4.34%	-11.50%	+7.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	10.75%	-9.16%

Volatility

SPYI.DE vs. HTGC - Volatility Comparison

The current volatility for SPDR MSCI ACWI IMI UCITS ETF (SPYI.DE) is 3.11%, while Hercules Capital, Inc. (HTGC) has a volatility of 5.75%. This indicates that SPYI.DE experiences smaller price fluctuations and is considered to be less risky than HTGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYI.DE	HTGC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	5.75%	-2.64%
Volatility (6M) Calculated over the trailing 6-month period	8.21%	20.15%	-11.94%
Volatility (1Y) Calculated over the trailing 1-year period	11.48%	23.33%	-11.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.90%	25.81%	-11.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.18%	28.27%	-13.09%

Dividends

SPYI.DE vs. HTGC - Dividend Comparison

SPYI.DE has not paid dividends to shareholders, while HTGC's dividend yield for the trailing twelve months is around 11.62%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HTGC Hercules Capital, Inc.	11.62%	9.99%	9.56%	11.40%	13.77%	9.76%	9.02%	9.49%	11.40%	9.45%	8.79%	10.17%
SPYI.DE SPDR MSCI ACWI IMI UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

SPYI.DE and HTGC have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.