SPYZ.DE vs. WF1E.DE
SPYZ.DE (SPDR MSCI Europe Financials UCITS ETF) and WF1E.DE (Invesco S&P World Financials ESG UCITS ETF Acc) are both Financials Equities funds - SPYZ.DE tracks the MSCI Europe Financials 20/35 Capped while WF1E.DE tracks the S&P Developed Ex-Korea LargeMidCap ESG Enhanced Financials. Both are passively managed. Over the past 3 years, SPYZ.DE returned 28.74%/yr vs 20.18%/yr for WF1E.DE. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.18% expense ratio.
Performance
SPYZ.DE vs. WF1E.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 higher than WF1E.DE's 1.34% return.
SPYZ.DE
- 1D
- 0.55%
- 1M
- 0.34%
- YTD
- 3.30%
- 6M
- 10.26%
- 1Y
- 21.73%
- 3Y*
- 28.74%
- 5Y*
- 19.38%
- 10Y*
- 12.24%
WF1E.DE
- 1D
- 1.98%
- 1M
- 1.45%
- YTD
- 1.34%
- 6M
- 5.57%
- 1Y
- 10.72%
- 3Y*
- 20.18%
- 5Y*
- —
- 10Y*
- —
SPYZ.DE vs. WF1E.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPYZ.DE SPDR MSCI Europe Financials UCITS ETF | 3.30% | 48.26% | 25.23% | 13.30% |
WF1E.DE Invesco S&P World Financials ESG UCITS ETF Acc | 1.34% | 13.85% | 32.68% | 14.22% |
Correlation
The correlation between SPYZ.DE and WF1E.DE is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2023 | 0.74 |
The correlation between SPYZ.DE and WF1E.DE has been stable across timeframes, ranging from 0.74 to 0.77 - a consistent structural relationship.
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Return for Risk
SPYZ.DE vs. WF1E.DE — Risk / Return Rank
SPYZ.DE
WF1E.DE
SPYZ.DE vs. WF1E.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 Invesco S&P World Financials ESG UCITS ETF Acc (WF1E.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 | WF1E.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.15 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 1.19 | +0.62 |
| Martin ratioReturn relative to average drawdown | 6.13 | 3.65 | +2.48 |
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 | WF1E.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 0.84 | +0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.02 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 1.34 | -0.87 |
Drawdowns
SPYZ.DE vs. WF1E.DE - Drawdown Comparison
The maximum SPYZ.DE drawdown since its inception was -45.16%, which is greater than WF1E.DE's maximum drawdown of -19.97%. Use the drawdown chart below to compare losses from any high point for SPYZ.DE and WF1E.DE.
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Drawdown Indicators
| SPYZ.DE | WF1E.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.16% | -19.97% | -25.19% |
Max Drawdown (1Y)Largest decline over 1 year | -12.28% | -8.92% | -3.36% |
Max Drawdown (3Y)Largest decline over 3 years | -16.91% | -19.97% | +3.06% |
Max Drawdown (5Y)Largest decline over 5 years | -23.17% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.16% | — | — |
Current DrawdownCurrent decline from peak | -2.74% | -0.87% | -1.87% |
Average DrawdownAverage peak-to-trough decline | -9.57% | -2.63% | -6.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.65% | 2.92% | +0.73% |
Volatility
SPYZ.DE vs. WF1E.DE - Volatility Comparison
SPDR MSCI Europe Financials UCITS ETF (SPYZ.DE) has a higher volatility of 5.19% compared to Invesco S&P World Financials ESG UCITS ETF Acc (WF1E.DE) at 3.46%. This indicates that SPYZ.DE's price experiences larger fluctuations and is considered to be riskier than WF1E.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 | WF1E.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 3.46% | +1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 14.37% | 9.46% | +4.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.69% | 12.69% | +5.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.75% | 14.49% | +4.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.28% | 14.49% | +6.79% |
SPYZ.DE vs. WF1E.DE - Expense Ratio Comparison
Both SPYZ.DE and WF1E.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. WF1E.DE - Dividend Comparison
Neither SPYZ.DE nor WF1E.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYZ.DE and WF1E.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SPYZ.DE and WF1E.DE have the same expense ratio: 0.18% per year.
SPYZ.DE tracks MSCI Europe Financials 20/35 Capped, while WF1E.DE tracks S&P Developed Ex-Korea LargeMidCap ESG Enhanced Financials. They also come from different issuers: State Street and Invesco.
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