SPYP.DE vs. SPYL.DE
SPYP.DE (SPDR MSCI Europe Materials UCITS ETF) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - SPYP.DE is a Industrials Equities fund tracking the MSCI Europe Materials 20/35 Capped, while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, SPYP.DE returned 25.97% vs 25.61% for SPYL.DE. At a 0.39 correlation, their price movements are largely independent. SPYP.DE charges 0.18%/yr vs 0.03%/yr for SPYL.DE.
Performance
SPYP.DE vs. SPYL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYP.DE achieves a 17.42% return, which is significantly higher than SPYL.DE's 11.37% return.
SPYP.DE
- 1D
- -0.40%
- 1M
- 5.89%
- YTD
- 17.42%
- 6M
- 21.88%
- 1Y
- 25.97%
- 3Y*
- 12.38%
- 5Y*
- 6.68%
- 10Y*
- 11.05%
SPYL.DE
- 1D
- -0.15%
- 1M
- 5.19%
- YTD
- 11.37%
- 6M
- 11.41%
- 1Y
- 25.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYP.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPYP.DE SPDR MSCI Europe Materials UCITS ETF | 17.42% | 13.01% | -3.09% | 13.00% |
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 SPYP.DE and SPYL.DE is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.39 |
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Return for Risk
SPYP.DE vs. SPYL.DE — Risk / Return Rank
SPYP.DE
SPYL.DE
SPYP.DE vs. SPYL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Materials UCITS ETF (SPYP.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.
| SPYP.DE | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.41 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 3.58 | -1.60 |
| Martin ratioReturn relative to average drawdown | 7.94 | 12.72 | -4.78 |
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
| SPYP.DE | SPYL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.52 | 2.21 | -0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 1.54 | -1.12 |
Drawdowns
SPYP.DE vs. SPYL.DE - Drawdown Comparison
The maximum SPYP.DE drawdown since its inception was -36.99%, 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 SPYP.DE and SPYL.DE.
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Drawdown Indicators
| SPYP.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.99% | -23.27% | -13.72% |
Max Drawdown (1Y)Largest decline over 1 year | -13.07% | -7.13% | -5.94% |
Max Drawdown (3Y)Largest decline over 3 years | -20.69% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.63% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.40% | — | — |
Current DrawdownCurrent decline from peak | -1.54% | -0.46% | -1.08% |
Average DrawdownAverage peak-to-trough decline | -7.59% | -3.24% | -4.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 2.01% | +1.25% |
Volatility
SPYP.DE vs. SPYL.DE - Volatility Comparison
SPDR MSCI Europe Materials UCITS ETF (SPYP.DE) has a higher volatility of 6.50% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 2.66%. This indicates that SPYP.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
| SPYP.DE | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.50% | 2.66% | +3.84% |
Volatility (6M)Calculated over the trailing 6-month period | 14.33% | 7.57% | +6.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.04% | 11.52% | +5.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.94% | 14.61% | +3.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.34% | 14.61% | +4.73% |
SPYP.DE vs. SPYL.DE - Expense Ratio Comparison
SPYP.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
SPYP.DE vs. SPYL.DE - Dividend Comparison
Neither SPYP.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYP.DE and SPYL.DE have a correlation of 0.43, 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 SPYP.DE.
SPYP.DE is categorized as Industrials Equities, while SPYL.DE is S&P 500. SPYP.DE tracks MSCI Europe Materials 20/35 Capped, while SPYL.DE tracks S&P 500 Index. Their fees differ too: 0.18% for SPYP.DE and 0.03% for SPYL.DE.
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