SPYQ.DE vs. EXH4.DE
SPYQ.DE (SPDR MSCI Europe Industrials UCITS ETF) and EXH4.DE (iShares STOXX Europe 600 Industrial Goods & Services UCITS ETF (DE)) are both Industrials Equities funds - SPYQ.DE tracks the MSCI Europe Industrials 20/35 Capped while EXH4.DE tracks the STOXX® Europe 600 Industrial Goods & Services. Both are passively managed. Over the past 10 years, SPYQ.DE returned 12.56%/yr vs 12.08%/yr for EXH4.DE. With a 0.97 correlation, they move nearly in lockstep. SPYQ.DE charges 0.18%/yr vs 0.46%/yr for EXH4.DE.
Performance
SPYQ.DE vs. EXH4.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SPYQ.DE having a 8.86% return and EXH4.DE slightly lower at 8.61%. Both investments have delivered pretty close results over the past 10 years, with SPYQ.DE having a 12.56% annualized return and EXH4.DE not far behind at 12.08%.
SPYQ.DE
- 1D
- 0.62%
- 1M
- 0.55%
- YTD
- 8.86%
- 6M
- 11.04%
- 1Y
- 15.68%
- 3Y*
- 19.58%
- 5Y*
- 12.85%
- 10Y*
- 12.56%
EXH4.DE
- 1D
- 0.57%
- 1M
- 1.72%
- YTD
- 8.61%
- 6M
- 10.71%
- 1Y
- 14.50%
- 3Y*
- 17.96%
- 5Y*
- 11.25%
- 10Y*
- 12.08%
SPYQ.DE vs. EXH4.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYQ.DE SPDR MSCI Europe Industrials UCITS ETF | 8.86% | 25.52% | 14.36% | 26.68% | -16.54% | 28.05% | 4.02% | 37.55% | -14.12% | 15.52% |
EXH4.DE iShares STOXX Europe 600 Industrial Goods & Services UCITS ETF (DE) | 8.61% | 23.72% | 14.66% | 23.26% | -18.58% | 27.14% | 5.60% | 36.93% | -13.73% | 16.86% |
Correlation
The correlation between SPYQ.DE and EXH4.DE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since May 14, 2013 | 0.97 |
The correlation between SPYQ.DE and EXH4.DE has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
SPYQ.DE vs. EXH4.DE — Risk / Return Rank
SPYQ.DE
EXH4.DE
SPYQ.DE vs. EXH4.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Industrials UCITS ETF (SPYQ.DE) and iShares STOXX Europe 600 Industrial Goods & Services UCITS ETF (DE) (EXH4.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.
| SPYQ.DE | EXH4.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.15 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 1.09 | +0.10 |
| Martin ratioReturn relative to average drawdown | 4.36 | 3.91 | +0.45 |
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
| SPYQ.DE | EXH4.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.73 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.57 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | 0.60 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.47 | +0.12 |
Drawdowns
SPYQ.DE vs. EXH4.DE - Drawdown Comparison
The maximum SPYQ.DE drawdown since its inception was -41.44%, smaller than the maximum EXH4.DE drawdown of -60.02%. Use the drawdown chart below to compare losses from any high point for SPYQ.DE and EXH4.DE.
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Drawdown Indicators
| SPYQ.DE | EXH4.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.44% | -60.02% | +18.58% |
Max Drawdown (1Y)Largest decline over 1 year | -13.15% | -13.28% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -18.37% | -19.33% | +0.96% |
Max Drawdown (5Y)Largest decline over 5 years | -29.20% | -31.07% | +1.87% |
Max Drawdown (10Y)Largest decline over 10 years | -41.44% | -41.94% | +0.50% |
Current DrawdownCurrent decline from peak | -2.67% | -1.40% | -1.27% |
Average DrawdownAverage peak-to-trough decline | -6.07% | -9.81% | +3.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 3.69% | -0.11% |
Volatility
SPYQ.DE vs. EXH4.DE - Volatility Comparison
SPDR MSCI Europe Industrials UCITS ETF (SPYQ.DE) and iShares STOXX Europe 600 Industrial Goods & Services UCITS ETF (DE) (EXH4.DE) have volatilities of 6.29% and 6.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYQ.DE | EXH4.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.29% | 6.36% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 16.51% | 16.56% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.70% | 19.71% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.87% | 19.66% | -0.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.60% | 19.93% | -0.33% |
SPYQ.DE vs. EXH4.DE - Expense Ratio Comparison
SPYQ.DE has a 0.18% expense ratio, which is lower than EXH4.DE's 0.46% expense ratio.
Dividends
SPYQ.DE vs. EXH4.DE - Dividend Comparison
SPYQ.DE has not paid dividends to shareholders, while EXH4.DE's dividend yield for the trailing twelve months is around 1.18%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXH4.DE iShares STOXX Europe 600 Industrial Goods & Services UCITS ETF (DE) | 1.18% | 1.31% | 1.51% | 1.72% | 1.68% | 1.08% | 0.85% | 1.69% | 1.67% | 2.38% | 2.10% | 2.79% |
SPYQ.DE SPDR MSCI Europe Industrials UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, SPYQ.DE and EXH4.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SPYQ.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYQ.DE is cheaper with a 0.18% expense ratio, compared with 0.46% for EXH4.DE.
SPYQ.DE tracks MSCI Europe Industrials 20/35 Capped, while EXH4.DE tracks STOXX® Europe 600 Industrial Goods & Services. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for SPYQ.DE and 0.46% for EXH4.DE.
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