SPYZ.DE vs. SPYQ.DE

Last updated Jun 5, 2026

SPYZ.DE (SPDR MSCI Europe Financials UCITS ETF) and SPYQ.DE (SPDR MSCI Europe Industrials UCITS ETF) are both exchange-traded funds - SPYZ.DE is a Financials Equities fund tracking the MSCI Europe Financials 20/35 Capped, while SPYQ.DE is a Industrials Equities fund tracking the MSCI Europe Industrials 20/35 Capped. Both are passively managed. Over the past 10 years, SPYZ.DE returned 12.24%/yr vs 12.56%/yr for SPYQ.DE. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.18% expense ratio.

Performance

SPYZ.DE vs. SPYQ.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI Europe Financials UCITS ETF (SPYZ.DE) and SPDR MSCI Europe Industrials UCITS ETF (SPYQ.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYZ.DE achieves a 3.30% return, which is significantly lower than SPYQ.DE's 8.86% return. Both investments have delivered pretty close results over the past 10 years, with SPYZ.DE having a 12.24% annualized return and SPYQ.DE not far ahead at 12.56%.

SPYZ.DE

• 1D: 0.55%
• 1M: 3.48%
• YTD: 3.30%
• 6M: 9.90%
• 1Y: 22.41%
• 3Y*: 28.74%
• 5Y*: 19.38%
• 10Y*: 12.24%

SPYQ.DE

• 1D: 0.62%
• 1M: 0.55%
• YTD: 8.86%
• 6M: 11.04%
• 1Y: 15.68%
• 3Y*: 19.58%
• 5Y*: 12.85%
• 10Y*: 12.56%

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

SPYZ.DE vs. SPYQ.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYZ.DE SPDR MSCI Europe Financials UCITS ETF	3.30%	48.26%	25.23%	21.51%	-2.51%	28.19%	-15.32%	24.02%	-19.59%	12.30%
SPYQ.DE SPDR MSCI Europe Industrials UCITS ETF	8.86%	25.52%	14.36%	26.68%	-16.54%	28.05%	4.02%	37.55%	-14.12%	15.52%

Correlation

The correlation between SPYZ.DE and SPYQ.DE is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since May 14, 2013	0.78

The correlation between SPYZ.DE and SPYQ.DE has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.

Return for Risk

SPYZ.DE vs. SPYQ.DE — Risk / Return Rank

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

SPYZ.DE

SPYZ.DE Risk / Return Rank: 36
SPYZ.DE Sharpe Ratio Rank: 36
SPYZ.DE Sortino Ratio Rank: 36
SPYZ.DE Omega Ratio Rank: 34
SPYZ.DE Calmar Ratio Rank: 37
SPYZ.DE Martin Ratio Rank: 40

SPYQ.DE

SPYQ.DE Risk / Return Rank: 25
SPYQ.DE Sharpe Ratio Rank: 23
SPYQ.DE Sortino Ratio Rank: 24
SPYQ.DE Omega Ratio Rank: 24
SPYQ.DE Calmar Ratio Rank: 26
SPYQ.DE Martin Ratio Rank: 30

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.

SPYZ.DE vs. SPYQ.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Financials UCITS ETF (SPYZ.DE) and SPDR MSCI Europe Industrials UCITS ETF (SPYQ.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.

	SPYZ.DE	SPYQ.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.26	0.79	+0.47
Sortino ratio: Return per unit of downside risk	1.83	1.29	+0.54
Omega ratio: Gain probability vs. loss probability	1.22	1.16	+0.07
Calmar ratio: Return relative to maximum drawdown	1.82	1.19	+0.63
Martin ratio: Return relative to average drawdown	6.13	4.36	+1.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYZ.DE vs. SPYQ.DE - Sharpe Ratio Comparison

The current SPYZ.DE Sharpe Ratio is 1.26, which is higher than the SPYQ.DE Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of SPYZ.DE and SPYQ.DE, 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

	SPYZ.DE	SPYQ.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	0.79	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.02	0.67	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.64	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.60	-0.13

Drawdowns

SPYZ.DE vs. SPYQ.DE - Drawdown Comparison

The maximum SPYZ.DE drawdown since its inception was -45.16%, which is greater than SPYQ.DE's maximum drawdown of -41.44%. Use the drawdown chart below to compare losses from any high point for SPYZ.DE and SPYQ.DE.

Drawdown Indicators

	SPYZ.DE	SPYQ.DE	Difference
Max Drawdown Largest peak-to-trough decline	-45.16%	-41.44%	-3.72%
Max Drawdown (1Y) Largest decline over 1 year	-12.28%	-13.15%	+0.87%
Max Drawdown (3Y) Largest decline over 3 years	-16.91%	-18.37%	+1.46%
Max Drawdown (5Y) Largest decline over 5 years	-23.17%	-29.20%	+6.03%
Max Drawdown (10Y) Largest decline over 10 years	-45.16%	-41.44%	-3.72%
Current Drawdown Current decline from peak	-2.74%	-2.67%	-0.07%
Average Drawdown Average peak-to-trough decline	-9.57%	-6.07%	-3.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.65%	3.58%	+0.07%

Volatility

SPYZ.DE vs. SPYQ.DE - Volatility Comparison

The current volatility for SPDR MSCI Europe Financials UCITS ETF (SPYZ.DE) is 5.19%, while SPDR MSCI Europe Industrials UCITS ETF (SPYQ.DE) has a volatility of 6.29%. This indicates that SPYZ.DE experiences smaller price fluctuations and is considered to be less risky than SPYQ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYZ.DE	SPYQ.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	6.29%	-1.10%
Volatility (6M) Calculated over the trailing 6-month period	14.37%	16.51%	-2.14%
Volatility (1Y) Calculated over the trailing 1-year period	17.69%	19.70%	-2.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.75%	18.87%	-0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.28%	19.60%	+1.68%

SPYZ.DE vs. SPYQ.DE - Expense Ratio Comparison

Both SPYZ.DE and SPYQ.DE have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SPYZ.DE vs. SPYQ.DE - Dividend Comparison

Neither SPYZ.DE nor SPYQ.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SPYZ.DE and SPYQ.DE in my portfolio?

SPYZ.DE and SPYQ.DE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPYZ.DE or SPYQ.DE?

Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPYZ.DE or SPYQ.DE?

SPYZ.DE and SPYQ.DE have the same expense ratio: 0.18% per year.

What is the main difference between SPYZ.DE and SPYQ.DE?

SPYZ.DE is categorized as Financials Equities, while SPYQ.DE is Industrials Equities. SPYZ.DE tracks MSCI Europe Financials 20/35 Capped, while SPYQ.DE tracks MSCI Europe Industrials 20/35 Capped.