SPYJ.DE vs. H4Z7.DE

Last updated Jun 5, 2026

SPYJ.DE (SPDR Dow Jones Global Real Estate UCITS ETF) and H4Z7.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc)) are both REIT funds - SPYJ.DE tracks the Dow Jones Global Select Real Estate Securities while H4Z7.DE tracks the FTSE EPRA/NAREIT Developed. Both are passively managed. Over the past 3 years, SPYJ.DE returned 5.92%/yr vs 6.21%/yr for H4Z7.DE. With a 0.97 correlation, they move nearly in lockstep. SPYJ.DE charges 0.40%/yr vs 0.24%/yr for H4Z7.DE.

Performance

SPYJ.DE vs. H4Z7.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR Dow Jones Global Real Estate UCITS ETF (SPYJ.DE) and HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc) (H4Z7.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SPYJ.DE having a 8.14% return and H4Z7.DE slightly lower at 7.83%.

SPYJ.DE

• 1D: 0.05%
• 1M: -0.54%
• YTD: 8.14%
• 6M: 7.27%
• 1Y: 10.19%
• 3Y*: 5.92%
• 5Y*: 2.31%
• 10Y*: 3.00%

H4Z7.DE

• 1D: -0.12%
• 1M: -1.09%
• YTD: 7.83%
• 6M: 7.24%
• 1Y: 9.70%
• 3Y*: 6.21%
• 5Y*: —
• 10Y*: —

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

SPYJ.DE vs. H4Z7.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SPYJ.DE SPDR Dow Jones Global Real Estate UCITS ETF	8.14%	-2.34%	4.88%	7.77%	-13.05%
H4Z7.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc)	7.83%	-1.78%	5.80%	7.39%	-13.07%

Correlation

The correlation between SPYJ.DE and H4Z7.DE is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jul 26, 2022	0.97

The correlation between SPYJ.DE and H4Z7.DE has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

SPYJ.DE vs. H4Z7.DE — Risk / Return Rank

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

SPYJ.DE

SPYJ.DE Risk / Return Rank: 27
SPYJ.DE Sharpe Ratio Rank: 26
SPYJ.DE Sortino Ratio Rank: 24
SPYJ.DE Omega Ratio Rank: 25
SPYJ.DE Calmar Ratio Rank: 30
SPYJ.DE Martin Ratio Rank: 31

H4Z7.DE

H4Z7.DE Risk / Return Rank: 25
H4Z7.DE Sharpe Ratio Rank: 25
H4Z7.DE Sortino Ratio Rank: 24
H4Z7.DE Omega Ratio Rank: 24
H4Z7.DE Calmar Ratio Rank: 26
H4Z7.DE Martin Ratio Rank: 28

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.

SPYJ.DE vs. H4Z7.DE - 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 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.

	SPYJ.DE	H4Z7.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.90	0.86	+0.04
Sortino ratio: Return per unit of downside risk	1.30	1.26	+0.04
Omega ratio: Gain probability vs. loss probability	1.16	1.15	+0.01
Calmar ratio: Return relative to maximum drawdown	1.46	1.23	+0.23
Martin ratio: Return relative to average drawdown	4.40	3.99	+0.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYJ.DE vs. H4Z7.DE - Sharpe Ratio Comparison

The current SPYJ.DE Sharpe Ratio is 0.90, which is comparable to the H4Z7.DE Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of SPYJ.DE and H4Z7.DE, 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

	SPYJ.DE	H4Z7.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	0.86	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.08	+0.24

Drawdowns

SPYJ.DE vs. H4Z7.DE - Drawdown Comparison

The maximum SPYJ.DE drawdown since its inception was -42.92%, 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 SPYJ.DE and H4Z7.DE.

Drawdown Indicators

	SPYJ.DE	H4Z7.DE	Difference
Max Drawdown Largest peak-to-trough decline	-42.92%	-26.78%	-16.14%
Max Drawdown (1Y) Largest decline over 1 year	-6.95%	-7.86%	+0.91%
Max Drawdown (3Y) Largest decline over 3 years	-20.29%	-20.13%	-0.16%
Max Drawdown (5Y) Largest decline over 5 years	-30.71%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.92%	—	—
Current Drawdown Current decline from peak	-7.72%	-2.86%	-4.86%
Average Drawdown Average peak-to-trough decline	-11.10%	-11.53%	+0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	2.42%	-0.11%

Volatility

SPYJ.DE vs. H4Z7.DE - Volatility Comparison

SPDR Dow Jones Global Real Estate UCITS ETF (SPYJ.DE) has a higher volatility of 3.15% compared to HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc) (H4Z7.DE) at 2.87%. This indicates that SPYJ.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.

Volatility by Period

	SPYJ.DE	H4Z7.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	2.87%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	8.50%	8.56%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	11.29%	11.25%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.11%	14.42%	+0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.96%	14.42%	+2.54%

SPYJ.DE vs. H4Z7.DE - Expense Ratio Comparison

SPYJ.DE has a 0.40% expense ratio, which is higher than H4Z7.DE's 0.24% expense ratio.

Dividends

SPYJ.DE vs. H4Z7.DE - Dividend Comparison

SPYJ.DE's dividend yield for the trailing twelve months is around 2.57%, while H4Z7.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
H4Z7.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPYJ.DE SPDR Dow Jones Global Real Estate UCITS ETF	2.57%	2.80%	2.70%	2.67%	2.91%	1.76%	2.70%	3.16%	4.36%	4.02%	2.53%	2.10%

Frequently Asked Questions

Can I hold both SPYJ.DE and H4Z7.DE in my portfolio?

With a correlation of 0.94, SPYJ.DE and H4Z7.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.

Which ETF is better, SPYJ.DE or H4Z7.DE?

On fees, H4Z7.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPYJ.DE or H4Z7.DE?

H4Z7.DE is cheaper with a 0.24% expense ratio, compared with 0.40% for SPYJ.DE.

What is the main difference between SPYJ.DE and H4Z7.DE?

SPYJ.DE tracks Dow Jones Global Select Real Estate Securities, while H4Z7.DE tracks FTSE EPRA/NAREIT Developed. They also come from different issuers: State Street and HSBC. Their fees differ too: 0.40% for SPYJ.DE and 0.24% for H4Z7.DE.