SPYW.DE vs. VEUR.AS

Last updated Jun 5, 2026

SPYW.DE (SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist)) and VEUR.AS (Vanguard FTSE Developed Europe UCITS ETF) are both Europe Equities funds - SPYW.DE tracks the S&P Euro High Yield Dividend Aristocrats while VEUR.AS tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, SPYW.DE returned 6.79%/yr vs 9.23%/yr for VEUR.AS. Their correlation of 0.88 suggests significant overlap in exposure. SPYW.DE charges 0.30%/yr vs 0.10%/yr for VEUR.AS.

Performance

SPYW.DE vs. VEUR.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.DE) and Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYW.DE achieves a 5.36% return, which is significantly lower than VEUR.AS's 7.16% return. Over the past 10 years, SPYW.DE has underperformed VEUR.AS with an annualized return of 6.79%, while VEUR.AS has yielded a comparatively higher 9.23% annualized return.

SPYW.DE

• 1D: 0.09%
• 1M: -0.36%
• YTD: 5.36%
• 6M: 7.28%
• 1Y: 7.88%
• 3Y*: 13.21%
• 5Y*: 8.07%
• 10Y*: 6.79%

VEUR.AS

• 1D: 0.57%
• 1M: 3.20%
• YTD: 7.16%
• 6M: 9.88%
• 1Y: 16.32%
• 3Y*: 14.06%
• 5Y*: 9.93%
• 10Y*: 9.23%

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

SPYW.DE vs. VEUR.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist)	5.36%	20.24%	8.29%	17.93%	-11.23%	14.36%	-11.84%	23.34%	-8.58%	11.23%
VEUR.AS Vanguard FTSE Developed Europe UCITS ETF	7.16%	19.69%	10.27%	16.15%	-10.11%	25.55%	-2.72%	25.95%	-10.04%	10.80%

Correlation

The correlation between SPYW.DE and VEUR.AS is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since May 22, 2013	0.88

The correlation between SPYW.DE and VEUR.AS has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.

Return for Risk

SPYW.DE vs. VEUR.AS — Risk / Return Rank

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

SPYW.DE

SPYW.DE Risk / Return Rank: 22
SPYW.DE Sharpe Ratio Rank: 22
SPYW.DE Sortino Ratio Rank: 21
SPYW.DE Omega Ratio Rank: 22
SPYW.DE Calmar Ratio Rank: 22
SPYW.DE Martin Ratio Rank: 24

VEUR.AS

VEUR.AS Risk / Return Rank: 37
VEUR.AS Sharpe Ratio Rank: 36
VEUR.AS Sortino Ratio Rank: 36
VEUR.AS Omega Ratio Rank: 36
VEUR.AS Calmar Ratio Rank: 35
VEUR.AS Martin Ratio Rank: 41

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.

SPYW.DE vs. VEUR.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.DE) and Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS). 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.

	SPYW.DE	VEUR.AS	Difference
Sharpe ratio: Return per unit of total volatility	0.74	1.26	-0.52
Sortino ratio: Return per unit of downside risk	1.07	1.85	-0.78
Omega ratio: Gain probability vs. loss probability	1.14	1.24	-0.10
Calmar ratio: Return relative to maximum drawdown	0.98	1.68	-0.70
Martin ratio: Return relative to average drawdown	3.14	6.34	-3.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYW.DE vs. VEUR.AS - Sharpe Ratio Comparison

The current SPYW.DE Sharpe Ratio is 0.74, which is lower than the VEUR.AS Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of SPYW.DE and VEUR.AS, 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

	SPYW.DE	VEUR.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.74	1.26	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.69	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.59	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.53	0.00

Drawdowns

SPYW.DE vs. VEUR.AS - Drawdown Comparison

The maximum SPYW.DE drawdown since its inception was -38.68%, which is greater than VEUR.AS's maximum drawdown of -35.63%. Use the drawdown chart below to compare losses from any high point for SPYW.DE and VEUR.AS.

Drawdown Indicators

	SPYW.DE	VEUR.AS	Difference
Max Drawdown Largest peak-to-trough decline	-38.68%	-35.63%	-3.05%
Max Drawdown (1Y) Largest decline over 1 year	-7.99%	-9.59%	+1.60%
Max Drawdown (3Y) Largest decline over 3 years	-11.64%	-16.41%	+4.77%
Max Drawdown (5Y) Largest decline over 5 years	-23.97%	-20.19%	-3.78%
Max Drawdown (10Y) Largest decline over 10 years	-38.68%	-35.63%	-3.05%
Current Drawdown Current decline from peak	-2.54%	-1.62%	-0.92%
Average Drawdown Average peak-to-trough decline	-5.62%	-5.29%	-0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	2.55%	-0.05%

Volatility

SPYW.DE vs. VEUR.AS - Volatility Comparison

The current volatility for SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.DE) is 2.92%, while Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS) has a volatility of 4.38%. This indicates that SPYW.DE experiences smaller price fluctuations and is considered to be less risky than VEUR.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYW.DE	VEUR.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	4.38%	-1.46%
Volatility (6M) Calculated over the trailing 6-month period	8.76%	10.62%	-1.86%
Volatility (1Y) Calculated over the trailing 1-year period	10.65%	12.81%	-2.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.27%	14.22%	-0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.88%	15.51%	-0.63%

SPYW.DE vs. VEUR.AS - Expense Ratio Comparison

SPYW.DE has a 0.30% expense ratio, which is higher than VEUR.AS's 0.10% expense ratio.

Dividends

SPYW.DE vs. VEUR.AS - Dividend Comparison

SPYW.DE's dividend yield for the trailing twelve months is around 3.60%, more than VEUR.AS's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist)	3.60%	4.07%	3.67%	3.31%	3.62%	2.78%	3.05%	3.10%	3.74%	3.15%	2.97%	2.99%
VEUR.AS Vanguard FTSE Developed Europe UCITS ETF	2.60%	2.79%	3.04%	3.00%	3.32%	2.66%	2.24%	3.24%	3.62%	3.05%	3.19%	3.10%

Frequently Asked Questions

Can I hold both SPYW.DE and VEUR.AS in my portfolio?

SPYW.DE and VEUR.AS have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPYW.DE or VEUR.AS?

On fees, VEUR.AS is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPYW.DE or VEUR.AS?

VEUR.AS is cheaper with a 0.10% expense ratio, compared with 0.30% for SPYW.DE.

What is the main difference between SPYW.DE and VEUR.AS?

SPYW.DE tracks S&P Euro High Yield Dividend Aristocrats, while VEUR.AS tracks MSCI Europe NR EUR. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.30% for SPYW.DE and 0.10% for VEUR.AS.