SPYL.DE vs. ARGX

Last updated Jun 5, 2026

SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) is S&P 500 fund tracking the S&P 500 Index, while ARGX (argenx SE) is a stock. Over the past year, SPYL.DE returned 26.53% vs 54.39% for ARGX. At a 0.15 correlation, their price movements are largely independent.

Performance

SPYL.DE vs. ARGX - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) and argenx SE (ARGX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPYL.DE is traded in EUR, while ARGX is traded in USD. To make them comparable, the ARGX values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPYL.DE achieves a 11.37% return, which is significantly higher than ARGX's 7.89% return.

SPYL.DE

• 1D: -0.15%
• 1M: 1.89%
• YTD: 11.37%
• 6M: 12.66%
• 1Y: 26.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARGX

• 1D: -0.52%
• 1M: 9.65%
• YTD: 7.89%
• 6M: 3.28%
• 1Y: 54.39%
• 3Y*: 28.11%
• 5Y*: 24.34%
• 10Y*: —

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

SPYL.DE vs. ARGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)	11.37%	4.71%	32.33%	9.54%
ARGX argenx SE	7.89%	20.51%	72.33%	-22.36%

Correlation

The correlation between SPYL.DE and ARGX 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 (All Time) Calculated using the full available price history since Nov 1, 2023	0.15

Return for Risk

SPYL.DE vs. ARGX — Risk / Return Rank

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

SPYL.DE

SPYL.DE Risk / Return Rank: 69
SPYL.DE Sharpe Ratio Rank: 68
SPYL.DE Sortino Ratio Rank: 67
SPYL.DE Omega Ratio Rank: 70
SPYL.DE Calmar Ratio Rank: 73
SPYL.DE Martin Ratio Rank: 70

ARGX

ARGX Risk / Return Rank: 81
ARGX Sharpe Ratio Rank: 86
ARGX Sortino Ratio Rank: 85
ARGX Omega Ratio Rank: 82
ARGX Calmar Ratio Rank: 75
ARGX Martin Ratio Rank: 77

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.

SPYL.DE vs. ARGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) and argenx SE (ARGX). 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.

	SPYL.DE	ARGX	Difference
Sharpe ratio: Return per unit of total volatility	2.21	1.74	+0.47
Sortino ratio: Return per unit of downside risk	3.01	2.58	+0.42
Omega ratio: Gain probability vs. loss probability	1.41	1.31	+0.10
Calmar ratio: Return relative to maximum drawdown	3.58	1.86	+1.72
Martin ratio: Return relative to average drawdown	12.72	4.71	+8.02

SPYL.DE vs. ARGX - Sharpe Ratio Comparison

The current SPYL.DE Sharpe Ratio is 2.21, which is comparable to the ARGX Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of SPYL.DE and ARGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPYL.DE vs. ARGX - Drawdown Comparison

The maximum SPYL.DE drawdown since its inception was -23.27%, smaller than the maximum ARGX drawdown of -37.47%. Use the drawdown chart below to compare losses from any high point for SPYL.DE and ARGX.

Drawdown Indicators

	SPYL.DE	ARGX	Difference
Max Drawdown Largest peak-to-trough decline	-23.27%	-37.47%	+14.20%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-28.45%	+21.32%
Max Drawdown (3Y) Largest decline over 3 years	—	-37.47%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.47%	—
Current Drawdown Current decline from peak	-0.46%	-3.69%	+3.23%
Average Drawdown Average peak-to-trough decline	-3.23%	-10.98%	+7.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	11.25%	-9.24%

Volatility

SPYL.DE vs. ARGX - Volatility Comparison

The current volatility for State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) is 2.66%, while argenx SE (ARGX) has a volatility of 11.78%. This indicates that SPYL.DE experiences smaller price fluctuations and is considered to be less risky than ARGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYL.DE	ARGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	11.78%	-9.12%
Volatility (6M) Calculated over the trailing 6-month period	7.57%	21.79%	-14.22%
Volatility (1Y) Calculated over the trailing 1-year period	11.52%	30.31%	-18.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.60%	38.47%	-23.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.60%	51.37%	-36.77%

Dividends

SPYL.DE vs. ARGX - Dividend Comparison

Neither SPYL.DE nor ARGX has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SPYL.DE and ARGX in my portfolio?

SPYL.DE and ARGX 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.