SPYX.DE vs. LEER.DE
SPYX.DE (SPDR MSCI Emerging Markets Small Cap UCITS ETF) and LEER.DE (Amundi MSCI Eastern Europe Ex Russia UCITS ETF) are both Emerging Markets Equities funds - SPYX.DE tracks the MSCI Emerging Markets Small Cap while LEER.DE tracks the MSCI Emerging Markets Eastern Europe ex Russia Index. Both are passively managed. Over the past 10 years, SPYX.DE returned 9.22%/yr vs 10.92%/yr for LEER.DE. A 0.50 correlation means they provide meaningful diversification when combined. SPYX.DE charges 0.55%/yr vs 0.50%/yr for LEER.DE.
Performance
SPYX.DE vs. LEER.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SPYX.DE having a 17.87% return and LEER.DE slightly higher at 18.03%. Over the past 10 years, SPYX.DE has underperformed LEER.DE with an annualized return of 9.22%, while LEER.DE has yielded a comparatively higher 10.92% annualized return.
SPYX.DE
- 1D
- 0.12%
- 1M
- 0.89%
- YTD
- 17.87%
- 6M
- 17.31%
- 1Y
- 27.59%
- 3Y*
- 14.36%
- 5Y*
- 8.43%
- 10Y*
- 9.22%
LEER.DE
- 1D
- 0.66%
- 1M
- 4.22%
- YTD
- 18.03%
- 6M
- 25.17%
- 1Y
- 42.24%
- 3Y*
- 31.18%
- 5Y*
- 16.61%
- 10Y*
- 10.92%
SPYX.DE vs. LEER.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYX.DE SPDR MSCI Emerging Markets Small Cap UCITS ETF | 17.87% | 6.29% | 8.50% | 18.50% | -11.19% | 25.16% | 9.05% | 12.87% | -14.74% | 18.63% |
LEER.DE Amundi MSCI Eastern Europe Ex Russia UCITS ETF | 18.03% | 53.92% | 4.11% | 41.71% | -21.16% | 20.40% | -18.41% | 1.33% | -8.39% | 30.82% |
Correlation
The correlation between SPYX.DE and LEER.DE is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since May 19, 2011 | 0.50 |
The correlation between SPYX.DE and LEER.DE has been stable across timeframes, ranging from 0.42 to 0.50 - a consistent structural relationship.
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Return for Risk
SPYX.DE vs. LEER.DE — Risk / Return Rank
SPYX.DE
LEER.DE
SPYX.DE vs. LEER.DE - 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 Amundi MSCI Eastern Europe Ex Russia UCITS ETF (LEER.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.
| SPYX.DE | LEER.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.34 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 4.24 | -1.46 |
| Martin ratioReturn relative to average drawdown | 9.22 | 11.61 | -2.39 |
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
| SPYX.DE | LEER.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.60 | 2.00 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.71 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.50 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.12 | +0.25 |
Drawdowns
SPYX.DE vs. LEER.DE - Drawdown Comparison
The maximum SPYX.DE drawdown since its inception was -41.12%, smaller than the maximum LEER.DE drawdown of -72.16%. Use the drawdown chart below to compare losses from any high point for SPYX.DE and LEER.DE.
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Drawdown Indicators
| SPYX.DE | LEER.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.12% | -72.16% | +31.04% |
Max Drawdown (1Y)Largest decline over 1 year | -9.90% | -9.92% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -22.71% | -15.85% | -6.86% |
Max Drawdown (5Y)Largest decline over 5 years | -22.71% | -43.49% | +20.78% |
Max Drawdown (10Y)Largest decline over 10 years | -41.12% | -48.74% | +7.62% |
Current DrawdownCurrent decline from peak | -1.63% | -0.84% | -0.79% |
Average DrawdownAverage peak-to-trough decline | -8.26% | -33.44% | +25.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 3.63% | -0.64% |
Volatility
SPYX.DE vs. LEER.DE - Volatility Comparison
SPDR MSCI Emerging Markets Small Cap UCITS ETF (SPYX.DE) has a higher volatility of 7.12% compared to Amundi MSCI Eastern Europe Ex Russia UCITS ETF (LEER.DE) at 6.19%. This indicates that SPYX.DE's price experiences larger fluctuations and is considered to be riskier than LEER.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYX.DE | LEER.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.12% | 6.19% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 14.24% | 16.81% | -2.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.22% | 21.00% | -3.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.85% | 23.00% | -8.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.85% | 21.97% | -5.12% |
SPYX.DE vs. LEER.DE - Expense Ratio Comparison
SPYX.DE has a 0.55% expense ratio, which is higher than LEER.DE's 0.50% expense ratio.
Dividends
SPYX.DE vs. LEER.DE - Dividend Comparison
Neither SPYX.DE nor LEER.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYX.DE and LEER.DE have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LEER.DE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LEER.DE is cheaper with a 0.50% expense ratio, compared with 0.55% for SPYX.DE.
SPYX.DE tracks MSCI Emerging Markets Small Cap, while LEER.DE tracks MSCI Emerging Markets Eastern Europe ex Russia Index. They also come from different issuers: State Street and Amundi. Their fees differ too: 0.55% for SPYX.DE and 0.50% for LEER.DE.
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