SPYU.DE vs. UTES

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR MSCI Europe Utilities UCITS ETF (SPYU.DE) and Virtus Reaves Utilities ETF (UTES).

SPYU.DE and UTES are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPYU.DE is a passively managed fund by State Street that tracks the performance of the MSCI Europe Utilities 20/35 Capped. It was launched on Dec 5, 2014. UTES is an actively managed fund by Virtus Investment Partners. It was launched on Sep 23, 2015.

Performance

SPYU.DE vs. UTES - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI Europe Utilities UCITS ETF (SPYU.DE) and Virtus Reaves Utilities ETF (UTES). The values are adjusted to include any dividend payments, if applicable.

SPYU.DE vs. UTES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYU.DE SPDR MSCI Europe Utilities UCITS ETF	16.09%	34.39%	0.99%	13.57%	-7.97%	8.80%	11.01%	31.91%	2.41%	9.05%
UTES Virtus Reaves Utilities ETF	4.14%	10.79%	54.95%	-5.38%	7.05%	29.77%	-8.52%	28.31%	10.08%	0.18%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, SPYU.DE achieves a 16.09% return, which is significantly higher than UTES's 4.14% return. Over the past 10 years, SPYU.DE has underperformed UTES with an annualized return of 11.44%, while UTES has yielded a comparatively higher 12.77% annualized return.

SPYU.DE

• 1D: 2.04%
• 1M: -0.80%
• YTD: 16.09%
• 6M: 26.88%
• 1Y: 39.69%
• 3Y*: 18.31%
• 5Y*: 12.35%
• 10Y*: 11.44%

UTES

• 1D: 0.85%
• 1M: -3.00%
• YTD: 4.14%
• 6M: -1.71%
• 1Y: 16.89%
• 3Y*: 20.49%
• 5Y*: 17.02%
• 10Y*: 12.77%

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

SPYU.DE vs. UTES - Expense Ratio Comparison

SPYU.DE has a 0.18% expense ratio, which is lower than UTES's 0.49% expense ratio.

UTES

Virtus Reaves Utilities ETF

SPYU.DE

SPDR MSCI Europe Utilities UCITS ETF

Return for Risk

SPYU.DE vs. UTES — Risk / Return Rank

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

SPYU.DE

SPYU.DE Risk / Return Rank: 94
SPYU.DE Sharpe Ratio Rank: 94
SPYU.DE Sortino Ratio Rank: 93
SPYU.DE Omega Ratio Rank: 94
SPYU.DE Calmar Ratio Rank: 94
SPYU.DE Martin Ratio Rank: 94

UTES

UTES Risk / Return Rank: 58
UTES Sharpe Ratio Rank: 61
UTES Sortino Ratio Rank: 58
UTES Omega Ratio Rank: 54
UTES Calmar Ratio Rank: 72
UTES Martin Ratio Rank: 48

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.

SPYU.DE vs. UTES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Utilities UCITS ETF (SPYU.DE) and Virtus Reaves Utilities ETF (UTES). 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.

	SPYU.DE	UTES	Difference
Sharpe ratio Return per unit of total volatility	2.39	0.69	+1.70
Sortino ratio Return per unit of downside risk	2.93	1.05	+1.88
Omega ratio Gain probability vs. loss probability	1.45	1.14	+0.31
Calmar ratio Return relative to maximum drawdown	3.81	1.23	+2.58
Martin ratio Return relative to average drawdown	15.04	3.00	+12.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYU.DE vs. UTES - Sharpe Ratio Comparison

The current SPYU.DE Sharpe Ratio is 2.39, which is higher than the UTES Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of SPYU.DE and UTES, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPYU.DE	UTES	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	0.69	+1.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.82	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.61	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.68	-0.08

Correlation

The correlation between SPYU.DE and UTES is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SPYU.DE vs. UTES - Dividend Comparison

SPYU.DE has not paid dividends to shareholders, while UTES's dividend yield for the trailing twelve months is around 1.46%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYU.DE SPDR MSCI Europe Utilities 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%
UTES Virtus Reaves Utilities ETF	1.46%	1.42%	1.51%	2.44%	2.13%	1.94%	2.09%	1.84%	2.09%	3.44%	3.53%	0.61%

Drawdowns

SPYU.DE vs. UTES - Drawdown Comparison

The maximum SPYU.DE drawdown since its inception was -32.98%, smaller than the maximum UTES drawdown of -35.00%. Use the drawdown chart below to compare losses from any high point for SPYU.DE and UTES.

Drawdown Indicators

	SPYU.DE	UTES	Difference
Max Drawdown Largest peak-to-trough decline	-32.98%	-35.39%	+2.41%
Max Drawdown (1Y) Largest decline over 1 year	-10.25%	-13.88%	+3.63%
Max Drawdown (5Y) Largest decline over 5 years	-22.28%	-20.40%	-1.88%
Max Drawdown (10Y) Largest decline over 10 years	-32.98%	-35.39%	+2.41%
Current Drawdown Current decline from peak	-1.46%	-7.01%	+5.55%
Average Drawdown Average peak-to-trough decline	-5.67%	-5.51%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	5.61%	-3.01%

Volatility

SPYU.DE vs. UTES - Volatility Comparison

The current volatility for SPDR MSCI Europe Utilities UCITS ETF (SPYU.DE) is 7.11%, while Virtus Reaves Utilities ETF (UTES) has a volatility of 8.15%. This indicates that SPYU.DE experiences smaller price fluctuations and is considered to be less risky than UTES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYU.DE	UTES	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.11%	8.15%	-1.04%
Volatility (6M) Calculated over the trailing 6-month period	11.07%	16.59%	-5.52%
Volatility (1Y) Calculated over the trailing 1-year period	16.54%	24.52%	-7.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.84%	20.79%	-4.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.98%	20.85%	-3.87%