SPYQ.DE vs. SC0W.DE
SPYQ.DE (SPDR MSCI Europe Industrials UCITS ETF) and SC0W.DE (Invesco European Basic Resources Sector UCITS ETF) are both Industrials Equities funds - SPYQ.DE tracks the MSCI Europe Industrials 20/35 Capped while SC0W.DE tracks the STOXX® Europe 600 Optimised Basic Resources. Both are passively managed. Over the past 10 years, SPYQ.DE returned 12.56%/yr vs 17.03%/yr for SC0W.DE. A 0.59 correlation means they provide meaningful diversification when combined. SPYQ.DE charges 0.18%/yr vs 0.20%/yr for SC0W.DE.
Performance
SPYQ.DE vs. SC0W.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYQ.DE achieves a 8.86% return, which is significantly lower than SC0W.DE's 32.91% return. Over the past 10 years, SPYQ.DE has underperformed SC0W.DE with an annualized return of 12.56%, while SC0W.DE has yielded a comparatively higher 17.03% annualized return.
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%
SC0W.DE
- 1D
- -0.81%
- 1M
- 11.15%
- YTD
- 32.91%
- 6M
- 42.46%
- 1Y
- 84.15%
- 3Y*
- 20.41%
- 5Y*
- 12.13%
- 10Y*
- 17.03%
SPYQ.DE vs. SC0W.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% |
SC0W.DE Invesco European Basic Resources Sector UCITS ETF | 32.91% | 33.79% | -7.95% | -3.82% | 9.72% | 27.53% | 12.84% | 22.79% | -10.57% | 24.44% |
Correlation
The correlation between SPYQ.DE and SC0W.DE is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since May 14, 2013 | 0.59 |
The correlation between SPYQ.DE and SC0W.DE has been stable across timeframes, ranging from 0.55 to 0.59 - a consistent structural relationship.
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Return for Risk
SPYQ.DE vs. SC0W.DE — Risk / Return Rank
SPYQ.DE
SC0W.DE
SPYQ.DE vs. SC0W.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 Invesco European Basic Resources Sector UCITS ETF (SC0W.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 | SC0W.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.34 | ||
| Sortino ratioReturn per unit of downside risk | -2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.49 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 4.75 | -3.56 |
| Martin ratioReturn relative to average drawdown | 4.36 | 18.77 | -14.41 |
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 | SC0W.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 3.13 | -2.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.44 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | 0.60 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.28 | +0.32 |
Drawdowns
SPYQ.DE vs. SC0W.DE - Drawdown Comparison
The maximum SPYQ.DE drawdown since its inception was -41.44%, smaller than the maximum SC0W.DE drawdown of -68.06%. Use the drawdown chart below to compare losses from any high point for SPYQ.DE and SC0W.DE.
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Drawdown Indicators
| SPYQ.DE | SC0W.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.44% | -68.06% | +26.62% |
Max Drawdown (1Y)Largest decline over 1 year | -13.15% | -17.64% | +4.49% |
Max Drawdown (3Y)Largest decline over 3 years | -18.37% | -34.35% | +15.98% |
Max Drawdown (5Y)Largest decline over 5 years | -29.20% | -38.09% | +8.89% |
Max Drawdown (10Y)Largest decline over 10 years | -41.44% | -45.64% | +4.20% |
Current DrawdownCurrent decline from peak | -2.67% | -2.54% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -6.07% | -21.96% | +15.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 4.38% | -0.80% |
Volatility
SPYQ.DE vs. SC0W.DE - Volatility Comparison
The current volatility for SPDR MSCI Europe Industrials UCITS ETF (SPYQ.DE) is 6.29%, while Invesco European Basic Resources Sector UCITS ETF (SC0W.DE) has a volatility of 10.17%. This indicates that SPYQ.DE experiences smaller price fluctuations and is considered to be less risky than SC0W.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 | SC0W.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.29% | 10.17% | -3.88% |
Volatility (6M)Calculated over the trailing 6-month period | 16.51% | 22.56% | -6.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.70% | 26.72% | -7.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.87% | 27.37% | -8.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.60% | 28.35% | -8.75% |
SPYQ.DE vs. SC0W.DE - Expense Ratio Comparison
SPYQ.DE has a 0.18% expense ratio, which is lower than SC0W.DE's 0.20% 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. SC0W.DE - Dividend Comparison
Neither SPYQ.DE nor SC0W.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYQ.DE and SC0W.DE have a correlation of 0.55, 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 0.20% for SC0W.DE.
SPYQ.DE tracks MSCI Europe Industrials 20/35 Capped, while SC0W.DE tracks STOXX® Europe 600 Optimised Basic Resources. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.18% for SPYQ.DE and 0.20% for SC0W.DE.
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