SPYT.DE vs. BCAT

Last updated Jun 5, 2026

SPYT.DE (SPDR MSCI Europe Communication Services UCITS ETF) is Communications Equities fund tracking the MSCI Europe Communication Services 20/35 Capped, while BCAT (BlackRock Capital Allocation Trust) is a stock. Over the past 5 years, SPYT.DE returned 5.43%/yr vs 8.50%/yr for BCAT. At a 0.17 correlation, their price movements are largely independent.

Performance

SPYT.DE vs. BCAT - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI Europe Communication Services UCITS ETF (SPYT.DE) and BlackRock Capital Allocation Trust (BCAT). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPYT.DE is traded in EUR, while BCAT is traded in USD. To make them comparable, the BCAT values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPYT.DE achieves a 3.11% return, which is significantly lower than BCAT's 21.66% return.

SPYT.DE

• 1D: -0.08%
• 1M: 2.62%
• YTD: 3.11%
• 6M: 5.27%
• 1Y: -7.75%
• 3Y*: 10.29%
• 5Y*: 5.43%
• 10Y*: 1.47%

BCAT

• 1D: -0.52%
• 1M: 4.15%
• YTD: 21.66%
• 6M: 19.88%
• 1Y: 25.42%
• 3Y*: 17.62%
• 5Y*: 8.50%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPYT.DE vs. BCAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SPYT.DE SPDR MSCI Europe Communication Services UCITS ETF	3.11%	7.33%	14.79%	14.90%	-11.90%	13.68%	12.89%
BCAT BlackRock Capital Allocation Trust	21.66%	2.92%	27.25%	15.72%	-17.85%	1.88%	4.11%

Correlation

The correlation between SPYT.DE and BCAT is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since Sep 28, 2020	0.17

The correlation between SPYT.DE and BCAT shifts across timeframes, from 0.08 (1 year) to 0.19 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SPYT.DE vs. BCAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPYT.DE

SPYT.DE Risk / Return Rank: 4
SPYT.DE Sharpe Ratio Rank: 4
SPYT.DE Sortino Ratio Rank: 4
SPYT.DE Omega Ratio Rank: 4
SPYT.DE Calmar Ratio Rank: 5
SPYT.DE Martin Ratio Rank: 5

BCAT

BCAT Risk / Return Rank: 90
BCAT Sharpe Ratio Rank: 92
BCAT Sortino Ratio Rank: 92
BCAT Omega Ratio Rank: 90
BCAT Calmar Ratio Rank: 85
BCAT Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPYT.DE vs. BCAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Communication Services UCITS ETF (SPYT.DE) and BlackRock Capital Allocation Trust (BCAT). 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.

	SPYT.DE	BCAT	Difference
Sharpe ratio: Return per unit of total volatility	-0.58	2.17	-2.75
Sortino ratio: Return per unit of downside risk	-0.74	2.82	-3.56
Omega ratio: Gain probability vs. loss probability	0.92	1.37	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.52	3.88	-4.39
Martin ratio: Return relative to average drawdown	-0.97	14.71	-15.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYT.DE vs. BCAT - Sharpe Ratio Comparison

The current SPYT.DE Sharpe Ratio is -0.58, which is lower than the BCAT Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of SPYT.DE and BCAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPYT.DE	BCAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.58	2.17	-2.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.56	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.09	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.54	-0.31

Drawdowns

SPYT.DE vs. BCAT - Drawdown Comparison

The maximum SPYT.DE drawdown since its inception was -49.63%, which is greater than BCAT's maximum drawdown of -25.47%. Use the drawdown chart below to compare losses from any high point for SPYT.DE and BCAT.

Drawdown Indicators

	SPYT.DE	BCAT	Difference
Max Drawdown Largest peak-to-trough decline	-49.63%	-25.47%	-24.16%
Max Drawdown (1Y) Largest decline over 1 year	-14.98%	-6.58%	-8.40%
Max Drawdown (3Y) Largest decline over 3 years	-14.98%	-17.98%	+3.00%
Max Drawdown (5Y) Largest decline over 5 years	-20.35%	-25.47%	+5.12%
Max Drawdown (10Y) Largest decline over 10 years	-40.09%	—	—
Current Drawdown Current decline from peak	-8.46%	-1.84%	-6.62%
Average Drawdown Average peak-to-trough decline	-18.83%	-9.10%	-9.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.65%	1.73%	+5.92%

Volatility

SPYT.DE vs. BCAT - Volatility Comparison

SPDR MSCI Europe Communication Services UCITS ETF (SPYT.DE) has a higher volatility of 4.21% compared to BlackRock Capital Allocation Trust (BCAT) at 2.93%. This indicates that SPYT.DE's price experiences larger fluctuations and is considered to be riskier than BCAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYT.DE	BCAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	2.93%	+1.28%
Volatility (6M) Calculated over the trailing 6-month period	10.43%	8.69%	+1.74%
Volatility (1Y) Calculated over the trailing 1-year period	13.45%	11.77%	+1.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.48%	15.39%	-1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.67%	16.18%	-0.51%

Dividends

SPYT.DE vs. BCAT - Dividend Comparison

SPYT.DE has not paid dividends to shareholders, while BCAT's dividend yield for the trailing twelve months is around 20.41%.

Position	TTM	2025	2024	2023	2022	2021	2020
BCAT BlackRock Capital Allocation Trust	20.41%	23.45%	17.48%	10.08%	9.01%	6.42%	0.48%
SPYT.DE SPDR MSCI Europe Communication Services UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPYT.DE and BCAT in my portfolio?

SPYT.DE and BCAT have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.