SPYQ.DE vs. IEFV.L
SPYQ.DE (SPDR MSCI Europe Industrials UCITS ETF) and IEFV.L (iShares Edge MSCI Europe Value Factor UCITS ETF) are both exchange-traded funds - SPYQ.DE is a Industrials Equities fund tracking the MSCI Europe Industrials 20/35 Capped, while IEFV.L is a Europe Equities fund tracking the MSCI Europe Value NR EUR. Both are passively managed. Over the past 10 years, SPYQ.DE returned 13.12%/yr vs 11.59%/yr for IEFV.L. A 0.78 correlation means they provide meaningful diversification when combined. SPYQ.DE charges 0.18%/yr vs 0.25%/yr for IEFV.L.
Performance
SPYQ.DE vs. IEFV.L - Performance Comparison
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Different Trading Currencies
SPYQ.DE is traded in EUR, while IEFV.L is traded in GBp. To make them comparable, the IEFV.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPYQ.DE achieves a 7.91% return, which is significantly lower than IEFV.L's 14.51% return. Over the past 10 years, SPYQ.DE has outperformed IEFV.L with an annualized return of 13.12%, while IEFV.L has yielded a comparatively lower 11.59% annualized return.
SPYQ.DE
- 1D
- 1.99%
- 1M
- 0.10%
- YTD
- 7.91%
- 6M
- 9.26%
- 1Y
- 16.59%
- 3Y*
- 18.36%
- 5Y*
- 12.57%
- 10Y*
- 13.12%
IEFV.L
- 1D
- 2.24%
- 1M
- 2.51%
- YTD
- 14.51%
- 6M
- 16.80%
- 1Y
- 34.14%
- 3Y*
- 21.11%
- 5Y*
- 14.40%
- 10Y*
- 11.59%
SPYQ.DE vs. IEFV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYQ.DE SPDR MSCI Europe Industrials UCITS ETF | 7.91% | 25.52% | 14.36% | 26.68% | -16.54% | 28.05% | 4.02% | 37.55% | -14.12% | 15.52% |
IEFV.L iShares Edge MSCI Europe Value Factor UCITS ETF | 14.51% | 34.79% | 10.49% | 13.77% | -3.76% | 26.29% | -8.97% | 23.07% | -13.74% | 9.78% |
Correlation
The correlation between SPYQ.DE and IEFV.L is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015 | 0.78 |
The correlation between SPYQ.DE and IEFV.L has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.
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Return for Risk
SPYQ.DE vs. IEFV.L — Risk / Return Rank
SPYQ.DE
IEFV.L
SPYQ.DE vs. IEFV.L - 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 Edge MSCI Europe Value Factor UCITS ETF (IEFV.L). 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.
| SPYQ.DE | IEFV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.42 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | 3.29 | -2.09 |
| Martin ratioReturn relative to average drawdown | 4.36 | 12.14 | -7.78 |
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Drawdowns
SPYQ.DE vs. IEFV.L - Drawdown Comparison
The maximum SPYQ.DE drawdown since its inception was -41.44%, roughly equal to the maximum IEFV.L drawdown of -40.78%. Use the drawdown chart below to compare losses from any high point for SPYQ.DE and IEFV.L.
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Drawdown Indicators
| SPYQ.DE | IEFV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.44% | -40.78% | -0.66% |
Max Drawdown (1Y)Largest decline over 1 year | -13.15% | -9.82% | -3.33% |
Max Drawdown (3Y)Largest decline over 3 years | -18.37% | -16.66% | -1.71% |
Max Drawdown (5Y)Largest decline over 5 years | -29.20% | -19.43% | -9.77% |
Max Drawdown (10Y)Largest decline over 10 years | -41.44% | -40.78% | -0.66% |
Current DrawdownCurrent decline from peak | -3.52% | -0.11% | -3.41% |
Average DrawdownAverage peak-to-trough decline | -6.49% | -7.72% | +1.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.63% | 2.67% | +0.96% |
Volatility
SPYQ.DE vs. IEFV.L - Volatility Comparison
SPDR MSCI Europe Industrials UCITS ETF (SPYQ.DE) has a higher volatility of 6.20% compared to iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L) at 4.29%. This indicates that SPYQ.DE's price experiences larger fluctuations and is considered to be riskier than IEFV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYQ.DE | IEFV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.20% | 4.29% | +1.91% |
Volatility (6M)Calculated over the trailing 6-month period | 16.72% | 11.08% | +5.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.93% | 13.84% | +6.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 17.48% | +1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.61% | 18.49% | +1.12% |
SPYQ.DE vs. IEFV.L - Expense Ratio Comparison
SPYQ.DE has a 0.18% expense ratio, which is lower than IEFV.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPYQ.DE vs. IEFV.L - Dividend Comparison
Neither SPYQ.DE nor IEFV.L has paid dividends to shareholders.
Frequently Asked Questions
SPYQ.DE and IEFV.L have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.25% for IEFV.L.
SPYQ.DE is categorized as Industrials Equities, while IEFV.L is Europe Equities. SPYQ.DE tracks MSCI Europe Industrials 20/35 Capped, while IEFV.L tracks MSCI Europe Value NR EUR. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for SPYQ.DE and 0.25% for IEFV.L.
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