SPYM.DE vs. SPYL.DE
SPYM.DE (SPDR MSCI Emerging Markets UCITS ETF) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - SPYM.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets, while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, SPYM.DE returned 50.03% vs 25.61% for SPYL.DE. A 0.58 correlation means they provide meaningful diversification when combined. SPYM.DE charges 0.18%/yr vs 0.03%/yr for SPYL.DE.
Performance
SPYM.DE vs. SPYL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYM.DE achieves a 27.39% return, which is significantly higher than SPYL.DE's 11.37% return.
SPYM.DE
- 1D
- -1.63%
- 1M
- 6.11%
- YTD
- 27.39%
- 6M
- 29.25%
- 1Y
- 50.03%
- 3Y*
- 21.15%
- 5Y*
- 8.45%
- 10Y*
- 9.90%
SPYL.DE
- 1D
- -0.15%
- 1M
- 5.19%
- YTD
- 11.37%
- 6M
- 11.41%
- 1Y
- 25.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYM.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPYM.DE SPDR MSCI Emerging Markets UCITS ETF | 27.39% | 19.08% | 14.04% | 6.27% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.37% | 4.71% | 32.33% | 9.54% |
Correlation
The correlation between SPYM.DE and SPYL.DE is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.58 |
The correlation between SPYM.DE and SPYL.DE has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.
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Return for Risk
SPYM.DE vs. SPYL.DE — Risk / Return Rank
SPYM.DE
SPYL.DE
SPYM.DE vs. SPYL.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 State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.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.
| SPYM.DE | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.41 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.80 | 3.58 | +1.22 |
| Martin ratioReturn relative to average drawdown | 17.28 | 12.72 | +4.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPYM.DE | SPYL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.79 | 2.21 | +0.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 1.54 | -1.19 |
Drawdowns
SPYM.DE vs. SPYL.DE - Drawdown Comparison
The maximum SPYM.DE drawdown since its inception was -36.28%, which is greater than SPYL.DE's maximum drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for SPYM.DE and SPYL.DE.
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Drawdown Indicators
| SPYM.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.28% | -23.27% | -13.01% |
Max Drawdown (1Y)Largest decline over 1 year | -10.38% | -7.13% | -3.25% |
Max Drawdown (3Y)Largest decline over 3 years | -18.96% | — | — |
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 | -2.74% | -0.46% | -2.28% |
Average DrawdownAverage peak-to-trough decline | -9.95% | -3.24% | -6.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 2.01% | +0.88% |
Volatility
SPYM.DE vs. SPYL.DE - Volatility Comparison
SPDR MSCI Emerging Markets UCITS ETF (SPYM.DE) has a higher volatility of 7.34% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 2.66%. This indicates that SPYM.DE's price experiences larger fluctuations and is considered to be riskier than SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.34% | 2.66% | +4.68% |
Volatility (6M)Calculated over the trailing 6-month period | 15.16% | 7.57% | +7.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.87% | 11.52% | +6.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.78% | 14.61% | +2.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.40% | 14.61% | +3.79% |
SPYM.DE vs. SPYL.DE - Expense Ratio Comparison
SPYM.DE has a 0.18% expense ratio, which is higher than SPYL.DE's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPYM.DE vs. SPYL.DE - Dividend Comparison
Neither SPYM.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYM.DE and SPYL.DE have a correlation of 0.66, 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 0.18% for SPYM.DE.
SPYM.DE is categorized as Emerging Markets Equities, while SPYL.DE is S&P 500. SPYM.DE tracks MSCI Emerging Markets, while SPYL.DE tracks S&P 500 Index. Their fees differ too: 0.18% for SPYM.DE and 0.03% for SPYL.DE.
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