SPYJ.DE vs. ACWX
SPYJ.DE (SPDR Dow Jones Global Real Estate UCITS ETF) and ACWX (iShares MSCI ACWI ex U.S. ETF) are both exchange-traded funds - SPYJ.DE is a REIT fund tracking the Dow Jones Global Select Real Estate Securities, while ACWX is a Foreign Large Cap Equities fund tracking the MSCI All Country World ex-U.S. Index. Both are passively managed. Over the past 10 years, SPYJ.DE returned 3.07%/yr vs 10.01%/yr for ACWX. At a 0.41 correlation, their price movements are largely independent. SPYJ.DE charges 0.40%/yr vs 0.32%/yr for ACWX.
Performance
SPYJ.DE vs. ACWX - Performance Comparison
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Different Trading Currencies
SPYJ.DE is traded in EUR, while ACWX is traded in USD. To make them comparable, the ACWX values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPYJ.DE achieves a 13.86% return, which is significantly lower than ACWX's 17.64% return. Over the past 10 years, SPYJ.DE has underperformed ACWX with an annualized return of 3.07%, while ACWX has yielded a comparatively higher 10.01% annualized return.
SPYJ.DE
- 1D
- -0.27%
- 1M
- 2.98%
- YTD
- 13.86%
- 6M
- 15.17%
- 1Y
- 17.84%
- 3Y*
- 9.23%
- 5Y*
- 2.86%
- 10Y*
- 3.07%
ACWX
- 1D
- 0.85%
- 1M
- 2.10%
- YTD
- 17.64%
- 6M
- 17.75%
- 1Y
- 32.69%
- 3Y*
- 17.62%
- 5Y*
- 9.47%
- 10Y*
- 10.01%
SPYJ.DE vs. ACWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYJ.DE SPDR Dow Jones Global Real Estate UCITS ETF | 13.86% | -2.34% | 4.88% | 7.77% | -20.63% | 41.27% | -18.75% | 22.75% | -2.91% | -4.97% |
ACWX iShares MSCI ACWI ex U.S. ETF | 17.64% | 16.86% | 12.12% | 12.16% | -10.87% | 15.72% | 1.20% | 23.79% | -9.95% | 11.57% |
Correlation
The correlation between SPYJ.DE and ACWX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2012 | 0.41 |
Over the past year, the correlation between SPYJ.DE and ACWX has dropped to 0.21 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.
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Return for Risk
SPYJ.DE vs. ACWX — Risk / Return Rank
SPYJ.DE
ACWX
SPYJ.DE vs. ACWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones Global Real Estate UCITS ETF (SPYJ.DE) and iShares MSCI ACWI ex U.S. ETF (ACWX). 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.
| SPYJ.DE | ACWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.42 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 3.47 | -0.91 |
| Martin ratioReturn relative to average drawdown | 8.86 | 14.24 | -5.38 |
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Drawdowns
SPYJ.DE vs. ACWX - Drawdown Comparison
The maximum SPYJ.DE drawdown since its inception was -42.93%, smaller than the maximum ACWX drawdown of -51.23%. Use the drawdown chart below to compare losses from any high point for SPYJ.DE and ACWX.
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Drawdown Indicators
| SPYJ.DE | ACWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.93% | -51.23% | +8.30% |
Max Drawdown (1Y)Largest decline over 1 year | -6.95% | -9.47% | +2.52% |
Max Drawdown (3Y)Largest decline over 3 years | -20.28% | -16.24% | -4.04% |
Max Drawdown (5Y)Largest decline over 5 years | -30.70% | -17.21% | -13.49% |
Max Drawdown (10Y)Largest decline over 10 years | -42.93% | -33.49% | -9.44% |
Current DrawdownCurrent decline from peak | -2.82% | -1.84% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -11.16% | -8.48% | -2.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 2.30% | -0.29% |
Volatility
SPYJ.DE vs. ACWX - Volatility Comparison
The current volatility for SPDR Dow Jones Global Real Estate UCITS ETF (SPYJ.DE) is 4.12%, while iShares MSCI ACWI ex U.S. ETF (ACWX) has a volatility of 6.35%. This indicates that SPYJ.DE experiences smaller price fluctuations and is considered to be less risky than ACWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYJ.DE | ACWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.12% | 6.35% | -2.23% |
Volatility (6M)Calculated over the trailing 6-month period | 8.97% | 12.91% | -3.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.66% | 14.84% | -3.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.19% | 14.18% | +1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.96% | 16.21% | +0.75% |
SPYJ.DE vs. ACWX - Expense Ratio Comparison
SPYJ.DE has a 0.40% expense ratio, which is higher than ACWX's 0.32% expense ratio.
Dividends
SPYJ.DE vs. ACWX - Dividend Comparison
SPYJ.DE's dividend yield for the trailing twelve months is around 2.45%, less than ACWX's 2.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWX iShares MSCI ACWI ex U.S. ETF | 2.52% | 2.82% | 2.97% | 2.96% | 2.68% | 2.74% | 1.88% | 3.22% | 2.60% | 2.40% | 2.77% | 2.51% |
SPYJ.DE SPDR Dow Jones Global Real Estate UCITS ETF | 2.45% | 2.80% | 2.70% | 2.67% | 2.91% | 1.76% | 2.70% | 2.61% | 2.24% | 2.79% | 2.53% | 2.10% |
Frequently Asked Questions
SPYJ.DE and ACWX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ACWX is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ACWX is cheaper with a 0.32% expense ratio, compared with 0.40% for SPYJ.DE.
SPYJ.DE is categorized as REIT, while ACWX is Foreign Large Cap Equities. SPYJ.DE tracks Dow Jones Global Select Real Estate Securities, while ACWX tracks MSCI All Country World ex-U.S. Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for SPYJ.DE and 0.32% for ACWX.
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