SPYQ.DE vs. IUSN.DE
SPYQ.DE (SPDR MSCI Europe Industrials UCITS ETF) and IUSN.DE (iShares MSCI World Small Cap UCITS ETF) are both exchange-traded funds - SPYQ.DE is a Industrials Equities fund tracking the MSCI Europe Industrials 20/35 Capped, while IUSN.DE is a Global Equities fund tracking the MSCI World Small Cap. Both are passively managed. Over the past 5 years, SPYQ.DE returned 12.57%/yr vs 7.95%/yr for IUSN.DE. A 0.76 correlation means they provide meaningful diversification when combined. SPYQ.DE charges 0.18%/yr vs 0.35%/yr for IUSN.DE.
Performance
SPYQ.DE vs. IUSN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYQ.DE achieves a 7.91% return, which is significantly lower than IUSN.DE's 16.07% 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%
IUSN.DE
- 1D
- 2.38%
- 1M
- 3.44%
- YTD
- 16.07%
- 6M
- 16.37%
- 1Y
- 32.21%
- 3Y*
- 14.22%
- 5Y*
- 7.95%
- 10Y*
- —
SPYQ.DE vs. IUSN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPYQ.DE SPDR MSCI Europe Industrials UCITS ETF | 7.91% | 25.52% | 14.36% | 26.68% | -16.54% | 28.05% | 4.02% | 37.55% | -13.20% |
IUSN.DE iShares MSCI World Small Cap UCITS ETF | 16.07% | 7.76% | 13.17% | 13.12% | -13.76% | 25.29% | 5.24% | 29.17% | -8.13% |
Correlation
The correlation between SPYQ.DE and IUSN.DE is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Apr 25, 2018 | 0.76 |
The correlation between SPYQ.DE and IUSN.DE has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.
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Return for Risk
SPYQ.DE vs. IUSN.DE — Risk / Return Rank
SPYQ.DE
IUSN.DE
SPYQ.DE vs. IUSN.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 MSCI World Small Cap UCITS ETF (IUSN.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.
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 | IUSN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.49 | ||
| Sortino ratioReturn per unit of downside risk | -1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.41 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | 4.42 | -3.22 |
| Martin ratioReturn relative to average drawdown | 4.36 | 16.61 | -12.25 |
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Drawdowns
SPYQ.DE vs. IUSN.DE - Drawdown Comparison
The maximum SPYQ.DE drawdown since its inception was -41.44%, roughly equal to the maximum IUSN.DE drawdown of -40.27%. Use the drawdown chart below to compare losses from any high point for SPYQ.DE and IUSN.DE.
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Drawdown Indicators
| SPYQ.DE | IUSN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.44% | -40.27% | -1.17% |
Max Drawdown (1Y)Largest decline over 1 year | -13.15% | -7.12% | -6.03% |
Max Drawdown (3Y)Largest decline over 3 years | -18.37% | -24.25% | +5.88% |
Max Drawdown (5Y)Largest decline over 5 years | -29.20% | -24.25% | -4.95% |
Max Drawdown (10Y)Largest decline over 10 years | -41.44% | — | — |
Current DrawdownCurrent decline from peak | -3.52% | 0.00% | -3.52% |
Average DrawdownAverage peak-to-trough decline | -6.49% | -7.00% | +0.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.63% | 1.90% | +1.73% |
Volatility
SPYQ.DE vs. IUSN.DE - Volatility Comparison
SPDR MSCI Europe Industrials UCITS ETF (SPYQ.DE) has a higher volatility of 6.20% compared to iShares MSCI World Small Cap UCITS ETF (IUSN.DE) at 3.90%. This indicates that SPYQ.DE's price experiences larger fluctuations and is considered to be riskier than IUSN.DE 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 | IUSN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.20% | 3.90% | +2.30% |
Volatility (6M)Calculated over the trailing 6-month period | 16.72% | 9.79% | +6.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.93% | 13.88% | +6.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 16.56% | +2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.61% | 18.31% | +1.30% |
SPYQ.DE vs. IUSN.DE - Expense Ratio Comparison
SPYQ.DE has a 0.18% expense ratio, which is lower than IUSN.DE's 0.35% expense ratio.
Dividends
SPYQ.DE vs. IUSN.DE - Dividend Comparison
Neither SPYQ.DE nor IUSN.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYQ.DE and IUSN.DE have a correlation of 0.71, 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 0.35% for IUSN.DE.
SPYQ.DE is categorized as Industrials Equities, while IUSN.DE is Global Equities. SPYQ.DE tracks MSCI Europe Industrials 20/35 Capped, while IUSN.DE tracks MSCI World Small Cap. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for SPYQ.DE and 0.35% for IUSN.DE.
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