SPYI.DE vs. VWCE.DE
SPYI.DE (SPDR MSCI ACWI IMI UCITS ETF) and VWCE.DE (Vanguard FTSE All-World UCITS ETF) are both Global Equities funds - SPYI.DE tracks the MSCI All Country World Investable Market (ACWI IMI) while VWCE.DE tracks the FTSE All-World Index. Both are passively managed. Over the past 5 years, SPYI.DE returned 11.46%/yr vs 11.68%/yr for VWCE.DE. With a 0.99 correlation, they move nearly in lockstep. SPYI.DE charges 0.17%/yr vs 0.19%/yr for VWCE.DE.
Performance
SPYI.DE vs. VWCE.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SPYI.DE having a 13.23% return and VWCE.DE slightly lower at 12.57%.
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%
VWCE.DE
- 1D
- -0.30%
- 1M
- 0.92%
- YTD
- 12.57%
- 6M
- 13.04%
- 1Y
- 26.74%
- 3Y*
- 18.24%
- 5Y*
- 11.68%
- 10Y*
- —
SPYI.DE vs. VWCE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPYI.DE SPDR MSCI ACWI IMI UCITS ETF | 13.23% | 9.07% | 22.98% | 17.54% | -12.93% | 27.77% | 5.37% | 7.14% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 12.57% | 9.16% | 24.41% | 18.18% | -13.47% | 28.62% | 5.36% | 7.08% |
Correlation
The correlation between SPYI.DE and VWCE.DE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2019 | 0.99 |
The correlation between SPYI.DE and VWCE.DE has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
SPYI.DE vs. VWCE.DE — Risk / Return Rank
SPYI.DE
VWCE.DE
SPYI.DE vs. VWCE.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 Vanguard FTSE All-World UCITS ETF (VWCE.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 | VWCE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.42 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.32 | 4.07 | +0.25 |
| Martin ratioReturn relative to average drawdown | 17.14 | 16.66 | +0.48 |
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Drawdowns
SPYI.DE vs. VWCE.DE - Drawdown Comparison
The maximum SPYI.DE drawdown since its inception was -41.58%, which is greater than VWCE.DE's maximum drawdown of -33.43%. Use the drawdown chart below to compare losses from any high point for SPYI.DE and VWCE.DE.
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Drawdown Indicators
| SPYI.DE | VWCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.58% | -33.43% | -8.15% |
Max Drawdown (1Y)Largest decline over 1 year | -6.45% | -6.55% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -21.64% | -21.07% | -0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -21.64% | -21.07% | -0.57% |
Max Drawdown (10Y)Largest decline over 10 years | -34.49% | — | — |
Current DrawdownCurrent decline from peak | -1.40% | -1.41% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -8.41% | -4.66% | -3.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.60% | +0.03% |
Volatility
SPYI.DE vs. VWCE.DE - Volatility Comparison
SPDR MSCI ACWI IMI UCITS ETF (SPYI.DE) and Vanguard FTSE All-World UCITS ETF (VWCE.DE) have volatilities of 3.42% and 3.43%, 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 | VWCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 3.43% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 8.53% | 8.48% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.75% | 11.65% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.97% | 13.80% | +0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.93% | 16.13% | -0.20% |
SPYI.DE vs. VWCE.DE - Expense Ratio Comparison
SPYI.DE has a 0.17% expense ratio, which is lower than VWCE.DE's 0.19% 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. VWCE.DE - Dividend Comparison
Neither SPYI.DE nor VWCE.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, SPYI.DE and VWCE.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.19% for VWCE.DE.
SPYI.DE tracks MSCI All Country World Investable Market (ACWI IMI), while VWCE.DE tracks FTSE All-World Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.17% for SPYI.DE and 0.19% for VWCE.DE.
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