SPYL.DE vs. SPPE.DE
SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) and SPPE.DE (SPDR S&P 500 UCITS ETF EUR Hedged Accumulating) are both S&P 500 funds from State Street - SPYL.DE tracks the S&P 500 Index while SPPE.DE tracks the S&P 500 EUR Dynamic Hedged Index. Both are passively managed. Over the past year, SPYL.DE returned 26.14% vs 21.53% for SPPE.DE. Their correlation of 0.81 suggests significant overlap in exposure. SPYL.DE charges 0.03%/yr vs 0.12%/yr for SPPE.DE.
Performance
SPYL.DE vs. SPPE.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 SPPE.DE's 7.12% return.
SPYL.DE
- 1D
- -0.15%
- 1M
- 2.92%
- YTD
- 11.37%
- 6M
- 12.66%
- 1Y
- 26.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPPE.DE
- 1D
- 2.15%
- 1M
- 0.28%
- YTD
- 7.12%
- 6M
- 8.21%
- 1Y
- 21.53%
- 3Y*
- 18.29%
- 5Y*
- 10.69%
- 10Y*
- —
SPYL.DE vs. SPPE.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% |
SPPE.DE SPDR S&P 500 UCITS ETF EUR Hedged Accumulating | 7.12% | 15.32% | 23.27% | 14.37% |
Correlation
The correlation between SPYL.DE and SPPE.DE is 0.82, 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 | 0.82 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023 | 0.81 |
The correlation between SPYL.DE and SPPE.DE has been stable across timeframes, ranging from 0.81 to 0.82 - a consistent structural relationship.
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Return for Risk
SPYL.DE vs. SPPE.DE — Risk / Return Rank
SPYL.DE
SPPE.DE
SPYL.DE vs. SPPE.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 SPDR S&P 500 UCITS ETF EUR Hedged Accumulating (SPPE.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 | SPPE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.32 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 2.47 | +1.11 |
| Martin ratioReturn relative to average drawdown | 12.72 | 10.29 | +2.43 |
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Drawdowns
SPYL.DE vs. SPPE.DE - Drawdown Comparison
The maximum SPYL.DE drawdown since its inception was -23.27%, smaller than the maximum SPPE.DE drawdown of -34.33%. Use the drawdown chart below to compare losses from any high point for SPYL.DE and SPPE.DE.
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Drawdown Indicators
| SPYL.DE | SPPE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.27% | -34.33% | +11.06% |
Max Drawdown (1Y)Largest decline over 1 year | -7.13% | -8.68% | +1.55% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.40% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.10% | — |
Current DrawdownCurrent decline from peak | -0.46% | -2.33% | +1.87% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -5.81% | +2.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 2.09% | -0.08% |
Volatility
SPYL.DE vs. SPPE.DE - Volatility Comparison
The current volatility for State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) is 2.66%, while SPDR S&P 500 UCITS ETF EUR Hedged Accumulating (SPPE.DE) has a volatility of 3.87%. This indicates that SPYL.DE experiences smaller price fluctuations and is considered to be less risky than SPPE.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 | SPPE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 3.87% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 7.57% | 9.02% | -1.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.52% | 12.05% | -0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.60% | 16.03% | -1.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.60% | 17.66% | -3.06% |
SPYL.DE vs. SPPE.DE - Expense Ratio Comparison
SPYL.DE has a 0.03% expense ratio, which is lower than SPPE.DE's 0.12% 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
SPYL.DE vs. SPPE.DE - Dividend Comparison
Neither SPYL.DE nor SPPE.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYL.DE and SPPE.DE have a correlation of 0.82, 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 0.12% for SPPE.DE.
SPYL.DE tracks S&P 500 Index, while SPPE.DE tracks S&P 500 EUR Dynamic Hedged Index. Their fees differ too: 0.03% for SPYL.DE and 0.12% for SPPE.DE.
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