SPYM.DE vs. AXQE.DE
SPYM.DE (SPDR MSCI Emerging Markets UCITS ETF) and AXQE.DE (AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating) are both Emerging Markets Equities funds - SPYM.DE tracks the MSCI Emerging Markets while AXQE.DE tracks the MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged). Both are passively managed. Over the past year, SPYM.DE returned 48.17% vs 59.71% for AXQE.DE. Their correlation of 0.81 suggests significant overlap in exposure. SPYM.DE charges 0.18%/yr vs 0.30%/yr for AXQE.DE.
Performance
SPYM.DE vs. AXQE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYM.DE achieves a 28.91% return, which is significantly lower than AXQE.DE's 36.40% return.
SPYM.DE
- 1D
- 0.51%
- 1M
- 2.41%
- YTD
- 28.91%
- 6M
- 30.74%
- 1Y
- 48.17%
- 3Y*
- 22.17%
- 5Y*
- 8.34%
- 10Y*
- 10.32%
AXQE.DE
- 1D
- 0.00%
- 1M
- 0.37%
- YTD
- 36.40%
- 6M
- 37.91%
- 1Y
- 59.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYM.DE vs. AXQE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPYM.DE SPDR MSCI Emerging Markets UCITS ETF | 28.91% | 18.67% |
AXQE.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating | 36.40% | 32.15% |
Correlation
The correlation between SPYM.DE and AXQE.DE is 0.81, 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 | 0.81 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2025 | 0.81 |
The correlation between SPYM.DE and AXQE.DE has been stable across timeframes, ranging from 0.81 to 0.81 - a consistent structural relationship.
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Return for Risk
SPYM.DE vs. AXQE.DE — Risk / Return Rank
SPYM.DE
AXQE.DE
SPYM.DE vs. AXQE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Emerging Markets UCITS ETF (SPYM.DE) and AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.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.
| SPYM.DE | AXQE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.43 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.62 | 3.03 | +1.59 |
| Martin ratioReturn relative to average drawdown | 15.65 | 11.84 | +3.81 |
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Drawdowns
SPYM.DE vs. AXQE.DE - Drawdown Comparison
The maximum SPYM.DE drawdown since its inception was -44.83%, which is greater than AXQE.DE's maximum drawdown of -19.63%. Use the drawdown chart below to compare losses from any high point for SPYM.DE and AXQE.DE.
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Drawdown Indicators
| SPYM.DE | AXQE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.83% | -19.63% | -25.20% |
Max Drawdown (1Y)Largest decline over 1 year | -10.38% | -19.63% | +9.25% |
Max Drawdown (3Y)Largest decline over 3 years | -18.95% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.86% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -31.69% | — | — |
Current DrawdownCurrent decline from peak | -4.14% | -5.77% | +1.63% |
Average DrawdownAverage peak-to-trough decline | -17.62% | -2.63% | -14.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 5.03% | -1.96% |
Volatility
SPYM.DE vs. AXQE.DE - Volatility Comparison
The current volatility for SPDR MSCI Emerging Markets UCITS ETF (SPYM.DE) is 8.92%, while AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.DE) has a volatility of 10.08%. This indicates that SPYM.DE experiences smaller price fluctuations and is considered to be less risky than AXQE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYM.DE | AXQE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.92% | 10.08% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 17.12% | 31.66% | -14.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.43% | 33.64% | -14.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.17% | 32.03% | -14.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.51% | 32.03% | -13.52% |
SPYM.DE vs. AXQE.DE - Expense Ratio Comparison
SPYM.DE has a 0.18% expense ratio, which is lower than AXQE.DE's 0.30% expense ratio.
Dividends
SPYM.DE vs. AXQE.DE - Dividend Comparison
Neither SPYM.DE nor AXQE.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYM.DE and AXQE.DE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYM.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYM.DE is cheaper with a 0.18% expense ratio, compared with 0.30% for AXQE.DE.
SPYM.DE tracks MSCI Emerging Markets, while AXQE.DE tracks MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged). They also come from different issuers: State Street and AXA IM. Their fees differ too: 0.18% for SPYM.DE and 0.30% for AXQE.DE.
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