SPYL.DE vs. ICGA.DE
SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) and ICGA.DE (iShares MSCI China UCITS ETF USD Acc) are both exchange-traded funds - SPYL.DE is a S&P 500 fund tracking the S&P 500 Index, while ICGA.DE is a China Equities fund tracking the MSCI China. Both are passively managed. Over the past year, SPYL.DE returned 26.53% vs 3.16% for ICGA.DE. At a 0.26 correlation, their price movements are largely independent. SPYL.DE charges 0.03%/yr vs 0.28%/yr for ICGA.DE.
Performance
SPYL.DE vs. ICGA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYL.DE achieves a 11.37% return, which is significantly higher than ICGA.DE's -7.21% return.
SPYL.DE
- 1D
- -0.15%
- 1M
- 1.89%
- YTD
- 11.37%
- 6M
- 12.70%
- 1Y
- 26.53%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ICGA.DE
- 1D
- 1.03%
- 1M
- -2.20%
- YTD
- -7.21%
- 6M
- -6.68%
- 1Y
- 3.16%
- 3Y*
- 6.05%
- 5Y*
- -3.91%
- 10Y*
- —
SPYL.DE vs. ICGA.DE - 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% |
ICGA.DE iShares MSCI China UCITS ETF USD Acc | -7.21% | 16.59% | 27.32% | -4.05% |
Correlation
The correlation between SPYL.DE and ICGA.DE is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023 | 0.26 |
The correlation between SPYL.DE and ICGA.DE shifts across timeframes, from 0.26 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPYL.DE vs. ICGA.DE — Risk / Return Rank
SPYL.DE
ICGA.DE
SPYL.DE vs. ICGA.DE - 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 iShares MSCI China UCITS ETF USD Acc (ICGA.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.
| SPYL.DE | ICGA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.05 | ||
| Sortino ratioReturn per unit of downside risk | +2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.04 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 0.18 | +3.40 |
| Martin ratioReturn relative to average drawdown | 12.72 | 0.37 | +12.35 |
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Drawdowns
SPYL.DE vs. ICGA.DE - Drawdown Comparison
The maximum SPYL.DE drawdown since its inception was -23.27%, smaller than the maximum ICGA.DE drawdown of -55.91%. Use the drawdown chart below to compare losses from any high point for SPYL.DE and ICGA.DE.
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Drawdown Indicators
| SPYL.DE | ICGA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.27% | -55.91% | +32.64% |
Max Drawdown (1Y)Largest decline over 1 year | -7.13% | -17.50% | +10.37% |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.29% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -49.29% | — |
Current DrawdownCurrent decline from peak | -0.46% | -32.83% | +32.37% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -28.78% | +25.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 8.47% | -6.46% |
Volatility
SPYL.DE vs. ICGA.DE - Volatility Comparison
The current volatility for State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) is 2.66%, while iShares MSCI China UCITS ETF USD Acc (ICGA.DE) has a volatility of 6.02%. This indicates that SPYL.DE experiences smaller price fluctuations and is considered to be less risky than ICGA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYL.DE | ICGA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 6.02% | -3.36% |
Volatility (6M)Calculated over the trailing 6-month period | 7.57% | 13.75% | -6.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.52% | 18.96% | -7.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.60% | 27.79% | -13.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.60% | 27.05% | -12.45% |
SPYL.DE vs. ICGA.DE - Expense Ratio Comparison
SPYL.DE has a 0.03% expense ratio, which is lower than ICGA.DE's 0.28% expense ratio.
Dividends
SPYL.DE vs. ICGA.DE - Dividend Comparison
Neither SPYL.DE nor ICGA.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYL.DE and ICGA.DE have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYL.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.DE is cheaper with a 0.03% expense ratio, compared with 0.28% for ICGA.DE.
SPYL.DE is categorized as S&P 500, while ICGA.DE is China Equities. SPYL.DE tracks S&P 500 Index, while ICGA.DE tracks MSCI China. They also come from different issuers: State Street and iShares. Their fees differ too: 0.03% for SPYL.DE and 0.28% for ICGA.DE.
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