SPYX.DE vs. FXAIX

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR MSCI Emerging Markets Small Cap UCITS ETF (SPYX.DE) and Fidelity 500 Index Fund (FXAIX).

SPYX.DE is a passively managed fund by State Street that tracks the performance of the MSCI Emerging Markets Small Cap. It was launched on May 13, 2011. FXAIX is a passively managed fund by Fidelity that tracks the performance of the S&P 500 Index. It was launched on Feb 17, 1988. Both SPYX.DE and FXAIX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPYX.DE vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI Emerging Markets Small Cap UCITS ETF (SPYX.DE) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

SPYX.DE vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYX.DE SPDR MSCI Emerging Markets Small Cap UCITS ETF	4.41%	6.29%	8.50%	18.50%	-11.19%	25.16%	9.05%	12.87%	-14.74%	18.63%
FXAIX Fidelity 500 Index Fund	-2.76%	3.86%	33.27%	22.50%	-13.06%	38.33%	8.66%	34.45%	0.06%	6.85%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, SPYX.DE achieves a 4.41% return, which is significantly higher than FXAIX's -2.76% return. Over the past 10 years, SPYX.DE has underperformed FXAIX with an annualized return of 7.99%, while FXAIX has yielded a comparatively higher 13.92% annualized return.

SPYX.DE

• 1D: 2.95%
• 1M: -5.12%
• YTD: 4.41%
• 6M: 4.53%
• 1Y: 18.98%
• 3Y*: 11.43%
• 5Y*: 6.97%
• 10Y*: 7.99%

FXAIX

• 1D: 2.09%
• 1M: -3.92%
• YTD: -2.76%
• 6M: -0.64%
• 1Y: 9.58%
• 3Y*: 15.82%
• 5Y*: 12.21%
• 10Y*: 13.92%

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

SPYX.DE vs. FXAIX - Expense Ratio Comparison

SPYX.DE has a 0.55% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

SPYX.DE

SPDR MSCI Emerging Markets Small Cap UCITS ETF

FXAIX

Fidelity 500 Index Fund

Return for Risk

SPYX.DE vs. FXAIX — Risk / Return Rank

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

SPYX.DE

SPYX.DE Risk / Return Rank: 57
SPYX.DE Sharpe Ratio Rank: 56
SPYX.DE Sortino Ratio Rank: 53
SPYX.DE Omega Ratio Rank: 49
SPYX.DE Calmar Ratio Rank: 65
SPYX.DE Martin Ratio Rank: 59

FXAIX

FXAIX Risk / Return Rank: 60
FXAIX Sharpe Ratio Rank: 48
FXAIX Sortino Ratio Rank: 53
FXAIX Omega Ratio Rank: 56
FXAIX Calmar Ratio Rank: 64
FXAIX Martin Ratio Rank: 76

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.

SPYX.DE vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Emerging Markets Small Cap UCITS ETF (SPYX.DE) and Fidelity 500 Index Fund (FXAIX). 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.

	SPYX.DE	FXAIX	Difference
Sharpe ratio Return per unit of total volatility	1.05	0.50	+0.55
Sortino ratio Return per unit of downside risk	1.48	0.82	+0.66
Omega ratio Gain probability vs. loss probability	1.20	1.13	+0.07
Calmar ratio Return relative to maximum drawdown	1.81	0.77	+1.04
Martin ratio Return relative to average drawdown	6.29	3.27	+3.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYX.DE vs. FXAIX - Sharpe Ratio Comparison

The current SPYX.DE Sharpe Ratio is 1.05, which is higher than the FXAIX Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of SPYX.DE and FXAIX, 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

	SPYX.DE	FXAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	0.50	+0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.73	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.75	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.85	-0.52

Correlation

The correlation between SPYX.DE and FXAIX is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SPYX.DE vs. FXAIX - Dividend Comparison

SPYX.DE has not paid dividends to shareholders, while FXAIX's dividend yield for the trailing twelve months is around 1.16%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYX.DE SPDR MSCI Emerging Markets Small Cap 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%
FXAIX Fidelity 500 Index Fund	1.16%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Drawdowns

SPYX.DE vs. FXAIX - Drawdown Comparison

The maximum SPYX.DE drawdown since its inception was -41.12%, which is greater than FXAIX's maximum drawdown of -33.29%. Use the drawdown chart below to compare losses from any high point for SPYX.DE and FXAIX.

Drawdown Indicators

	SPYX.DE	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-41.12%	-33.79%	-7.33%
Max Drawdown (1Y) Largest decline over 1 year	-13.79%	-12.13%	-1.66%
Max Drawdown (5Y) Largest decline over 5 years	-22.71%	-24.50%	+1.79%
Max Drawdown (10Y) Largest decline over 10 years	-41.12%	-33.79%	-7.33%
Current Drawdown Current decline from peak	-7.24%	-6.23%	-1.01%
Average Drawdown Average peak-to-trough decline	-8.33%	-3.83%	-4.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	2.53%	+0.48%

Volatility

SPYX.DE vs. FXAIX - Volatility Comparison

SPDR MSCI Emerging Markets Small Cap UCITS ETF (SPYX.DE) has a higher volatility of 7.03% compared to Fidelity 500 Index Fund (FXAIX) at 4.35%. This indicates that SPYX.DE's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYX.DE	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.03%	4.35%	+2.68%
Volatility (6M) Calculated over the trailing 6-month period	12.81%	9.91%	+2.90%
Volatility (1Y) Calculated over the trailing 1-year period	18.06%	20.69%	-2.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.50%	16.83%	-2.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.69%	18.64%	-1.95%