SPYP.DE vs. WELH.DE
SPYP.DE (SPDR MSCI Europe Materials UCITS ETF) and WELH.DE (Amundi S&P Global Industrials ESG UCITS ETF EUR Acc) are both Industrials Equities funds - SPYP.DE tracks the MSCI Europe Materials 20/35 Capped while WELH.DE tracks the S&P Developed Ex-Korea LargeMidCap Sustainability Enhanced Industrials. Both are passively managed. Over the past 3 years, SPYP.DE returned 12.38%/yr vs 17.39%/yr for WELH.DE. A 0.63 correlation means they provide meaningful diversification when combined. Both charge a 0.18% expense ratio.
Performance
SPYP.DE vs. WELH.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 WELH.DE's 15.64% 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%
WELH.DE
- 1D
- 0.12%
- 1M
- 2.21%
- YTD
- 15.64%
- 6M
- 15.67%
- 1Y
- 24.04%
- 3Y*
- 17.39%
- 5Y*
- —
- 10Y*
- —
SPYP.DE vs. WELH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPYP.DE SPDR MSCI Europe Materials UCITS ETF | 17.42% | 13.01% | -3.09% | 12.36% | 10.16% |
WELH.DE Amundi S&P Global Industrials ESG UCITS ETF EUR Acc | 15.64% | 9.85% | 16.48% | 19.96% | 7.75% |
Correlation
The correlation between SPYP.DE and WELH.DE is 0.62, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022 | 0.63 |
The correlation between SPYP.DE and WELH.DE has been stable across timeframes, ranging from 0.61 to 0.63 - a consistent structural relationship.
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Return for Risk
SPYP.DE vs. WELH.DE — Risk / Return Rank
SPYP.DE
WELH.DE
SPYP.DE vs. WELH.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 Amundi S&P Global Industrials ESG UCITS ETF EUR Acc (WELH.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 | WELH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.29 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 2.43 | -0.46 |
| Martin ratioReturn relative to average drawdown | 7.94 | 8.98 | -1.04 |
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 | WELH.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.52 | 1.60 | -0.08 |
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 | 1.26 | -0.85 |
Drawdowns
SPYP.DE vs. WELH.DE - Drawdown Comparison
The maximum SPYP.DE drawdown since its inception was -36.99%, which is greater than WELH.DE's maximum drawdown of -20.70%. Use the drawdown chart below to compare losses from any high point for SPYP.DE and WELH.DE.
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Drawdown Indicators
| SPYP.DE | WELH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.99% | -20.70% | -16.29% |
Max Drawdown (1Y)Largest decline over 1 year | -13.07% | -9.84% | -3.23% |
Max Drawdown (3Y)Largest decline over 3 years | -20.69% | -20.70% | +0.01% |
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% | 0.00% | -1.54% |
Average DrawdownAverage peak-to-trough decline | -7.59% | -2.65% | -4.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 2.67% | +0.59% |
Volatility
SPYP.DE vs. WELH.DE - Volatility Comparison
SPDR MSCI Europe Materials UCITS ETF (SPYP.DE) has a higher volatility of 6.50% compared to Amundi S&P Global Industrials ESG UCITS ETF EUR Acc (WELH.DE) at 3.89%. This indicates that SPYP.DE's price experiences larger fluctuations and is considered to be riskier than WELH.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 | WELH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.50% | 3.89% | +2.61% |
Volatility (6M)Calculated over the trailing 6-month period | 14.33% | 12.20% | +2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.04% | 14.98% | +2.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.94% | 15.28% | +2.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.34% | 15.28% | +4.06% |
SPYP.DE vs. WELH.DE - Expense Ratio Comparison
Both SPYP.DE and WELH.DE have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SPYP.DE vs. WELH.DE - Dividend Comparison
Neither SPYP.DE nor WELH.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYP.DE and WELH.DE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SPYP.DE and WELH.DE have the same expense ratio: 0.18% per year.
SPYP.DE tracks MSCI Europe Materials 20/35 Capped, while WELH.DE tracks S&P Developed Ex-Korea LargeMidCap Sustainability Enhanced Industrials. They also come from different issuers: State Street and Amundi.
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