SPYY.DE vs. ETLQ.DE
SPYY.DE (SPDR MSCI ACWI UCITS ETF) and ETLQ.DE (L&G Global Equity UCITS ETF) are both Global Equities funds - SPYY.DE tracks the MSCI All Country World (ACWI) while ETLQ.DE tracks the Solactive Core Developed Markets Large & Mid Cap. Both are passively managed. Over the past 5 years, SPYY.DE returned 12.35%/yr vs 13.10%/yr for ETLQ.DE. With a 0.97 correlation, they move nearly in lockstep. SPYY.DE charges 0.40%/yr vs 0.10%/yr for ETLQ.DE.
Performance
SPYY.DE vs. ETLQ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYY.DE achieves a 12.54% return, which is significantly higher than ETLQ.DE's 10.88% return.
SPYY.DE
- 1D
- -0.21%
- 1M
- 4.97%
- YTD
- 12.54%
- 6M
- 13.23%
- 1Y
- 26.75%
- 3Y*
- 17.99%
- 5Y*
- 12.35%
- 10Y*
- 12.40%
ETLQ.DE
- 1D
- 0.00%
- 1M
- 4.96%
- YTD
- 10.88%
- 6M
- 11.36%
- 1Y
- 23.93%
- 3Y*
- 17.73%
- 5Y*
- 13.10%
- 10Y*
- —
SPYY.DE vs. ETLQ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPYY.DE SPDR MSCI ACWI UCITS ETF | 12.54% | 9.46% | 24.56% | 18.22% | -13.82% | 29.11% | 5.12% | 23.36% |
ETLQ.DE L&G Global Equity UCITS ETF | 10.88% | 8.14% | 26.10% | 20.83% | -13.64% | 32.63% | 5.63% | 24.59% |
Correlation
The correlation between SPYY.DE and ETLQ.DE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2019 | 0.97 |
The correlation between SPYY.DE and ETLQ.DE has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
SPYY.DE vs. ETLQ.DE — Risk / Return Rank
SPYY.DE
ETLQ.DE
SPYY.DE vs. ETLQ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI UCITS ETF (SPYY.DE) and L&G Global Equity UCITS ETF (ETLQ.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.
| SPYY.DE | ETLQ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.39 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.10 | 3.56 | +0.54 |
| Martin ratioReturn relative to average drawdown | 16.60 | 14.23 | +2.37 |
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
| SPYY.DE | ETLQ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.32 | 2.13 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 0.92 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.93 | -0.10 |
Drawdowns
SPYY.DE vs. ETLQ.DE - Drawdown Comparison
The maximum SPYY.DE drawdown since its inception was -33.49%, roughly equal to the maximum ETLQ.DE drawdown of -33.38%. Use the drawdown chart below to compare losses from any high point for SPYY.DE and ETLQ.DE.
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Drawdown Indicators
| SPYY.DE | ETLQ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.49% | -33.38% | -0.11% |
Max Drawdown (1Y)Largest decline over 1 year | -6.49% | -6.68% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -21.27% | -21.58% | +0.31% |
Max Drawdown (5Y)Largest decline over 5 years | -21.27% | -21.58% | +0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -33.49% | — | — |
Current DrawdownCurrent decline from peak | -0.61% | -0.34% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -4.39% | -4.33% | -0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 1.68% | -0.07% |
Volatility
SPYY.DE vs. ETLQ.DE - Volatility Comparison
SPDR MSCI ACWI UCITS ETF (SPYY.DE) has a higher volatility of 3.05% compared to L&G Global Equity UCITS ETF (ETLQ.DE) at 2.68%. This indicates that SPYY.DE's price experiences larger fluctuations and is considered to be riskier than ETLQ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYY.DE | ETLQ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 2.68% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 8.21% | 7.77% | +0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.47% | 11.18% | +0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.90% | 14.06% | -0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.07% | 15.74% | -0.67% |
SPYY.DE vs. ETLQ.DE - Expense Ratio Comparison
SPYY.DE has a 0.40% expense ratio, which is higher than ETLQ.DE's 0.10% expense ratio.
Dividends
SPYY.DE vs. ETLQ.DE - Dividend Comparison
Neither SPYY.DE nor ETLQ.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, SPYY.DE and ETLQ.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, ETLQ.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETLQ.DE is cheaper with a 0.10% expense ratio, compared with 0.40% for SPYY.DE.
SPYY.DE tracks MSCI All Country World (ACWI), while ETLQ.DE tracks Solactive Core Developed Markets Large & Mid Cap. They also come from different issuers: State Street and Legal & General. Their fees differ too: 0.40% for SPYY.DE and 0.10% for ETLQ.DE.
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