SPYZ.DE vs. SPYY.DE
SPYZ.DE (SPDR MSCI Europe Financials UCITS ETF) and SPYY.DE (SPDR MSCI ACWI UCITS ETF) are both exchange-traded funds - SPYZ.DE is a Financials Equities fund tracking the MSCI Europe Financials 20/35 Capped, while SPYY.DE is a Global Equities fund tracking the MSCI All Country World (ACWI). Both are passively managed. Over the past 10 years, SPYZ.DE returned 12.24%/yr vs 12.40%/yr for SPYY.DE. A 0.66 correlation means they provide meaningful diversification when combined. SPYZ.DE charges 0.18%/yr vs 0.40%/yr for SPYY.DE.
Performance
SPYZ.DE vs. SPYY.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYZ.DE achieves a 3.30% return, which is significantly lower than SPYY.DE's 12.54% return. Both investments have delivered pretty close results over the past 10 years, with SPYZ.DE having a 12.24% annualized return and SPYY.DE not far ahead at 12.40%.
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%
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%
SPYZ.DE vs. SPYY.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% |
SPYY.DE SPDR MSCI ACWI UCITS ETF | 12.54% | 9.46% | 24.56% | 18.22% | -13.82% | 29.11% | 5.12% | 30.21% | -6.02% | 8.80% |
Correlation
The correlation between SPYZ.DE and SPYY.DE is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since May 14, 2013 | 0.66 |
The correlation between SPYZ.DE and SPYY.DE has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.
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Return for Risk
SPYZ.DE vs. SPYY.DE — Risk / Return Rank
SPYZ.DE
SPYY.DE
SPYZ.DE vs. SPYY.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 ACWI UCITS ETF (SPYY.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 | SPYY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.44 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 4.10 | -2.29 |
| Martin ratioReturn relative to average drawdown | 6.13 | 16.60 | -10.47 |
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
| SPYZ.DE | SPYY.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 2.32 | -1.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.02 | 0.88 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.82 | -0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.83 | -0.36 |
Drawdowns
SPYZ.DE vs. SPYY.DE - Drawdown Comparison
The maximum SPYZ.DE drawdown since its inception was -45.16%, which is greater than SPYY.DE's maximum drawdown of -33.49%. Use the drawdown chart below to compare losses from any high point for SPYZ.DE and SPYY.DE.
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Drawdown Indicators
| SPYZ.DE | SPYY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.16% | -33.49% | -11.67% |
Max Drawdown (1Y)Largest decline over 1 year | -12.28% | -6.49% | -5.79% |
Max Drawdown (3Y)Largest decline over 3 years | -16.91% | -21.27% | +4.36% |
Max Drawdown (5Y)Largest decline over 5 years | -23.17% | -21.27% | -1.90% |
Max Drawdown (10Y)Largest decline over 10 years | -45.16% | -33.49% | -11.67% |
Current DrawdownCurrent decline from peak | -2.74% | -0.61% | -2.13% |
Average DrawdownAverage peak-to-trough decline | -9.57% | -4.39% | -5.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.65% | 1.61% | +2.04% |
Volatility
SPYZ.DE vs. SPYY.DE - Volatility Comparison
SPDR MSCI Europe Financials UCITS ETF (SPYZ.DE) has a higher volatility of 5.19% compared to SPDR MSCI ACWI UCITS ETF (SPYY.DE) at 3.05%. This indicates that SPYZ.DE's price experiences larger fluctuations and is considered to be riskier than SPYY.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYZ.DE | SPYY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 3.05% | +2.14% |
Volatility (6M)Calculated over the trailing 6-month period | 14.37% | 8.21% | +6.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.69% | 11.47% | +6.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.75% | 13.90% | +4.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.28% | 15.07% | +6.21% |
SPYZ.DE vs. SPYY.DE - Expense Ratio Comparison
SPYZ.DE has a 0.18% expense ratio, which is lower than SPYY.DE's 0.40% expense ratio.
Dividends
SPYZ.DE vs. SPYY.DE - Dividend Comparison
Neither SPYZ.DE nor SPYY.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYZ.DE and SPYY.DE have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYZ.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYZ.DE is cheaper with a 0.18% expense ratio, compared with 0.40% for SPYY.DE.
SPYZ.DE is categorized as Financials Equities, while SPYY.DE is Global Equities. SPYZ.DE tracks MSCI Europe Financials 20/35 Capped, while SPYY.DE tracks MSCI All Country World (ACWI). Their fees differ too: 0.18% for SPYZ.DE and 0.40% for SPYY.DE.
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