SYBJ.DE vs. SPYL.DE
SYBJ.DE (SPDR Bloomberg Euro High Yield Bond UCITS ETF) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - SYBJ.DE is a European High Yield Bonds fund tracking the Bloomberg Liquidity Screened Euro High Yield Bond, while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, SYBJ.DE returned 3.60% vs 25.56% for SPYL.DE. At a 0.48 correlation, their price movements are largely independent. SYBJ.DE charges 0.40%/yr vs 0.03%/yr for SPYL.DE.
Performance
SYBJ.DE vs. SPYL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SYBJ.DE achieves a 1.02% return, which is significantly lower than SPYL.DE's 11.37% return.
SYBJ.DE
- 1D
- -0.19%
- 1M
- 0.36%
- YTD
- 1.02%
- 6M
- 1.62%
- 1Y
- 3.60%
- 3Y*
- 6.65%
- 5Y*
- 2.51%
- 10Y*
- 3.11%
SPYL.DE
- 1D
- -0.15%
- 1M
- 4.36%
- YTD
- 11.37%
- 6M
- 10.86%
- 1Y
- 25.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SYBJ.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SYBJ.DE SPDR Bloomberg Euro High Yield Bond UCITS ETF | 1.02% | 5.26% | 5.78% | 6.05% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.37% | 4.71% | 32.33% | 9.54% |
Correlation
The correlation between SYBJ.DE and SPYL.DE is 0.55, 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 | 0.55 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.48 |
The correlation between SYBJ.DE and SPYL.DE has been stable across timeframes, ranging from 0.48 to 0.55 - a consistent structural relationship.
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Return for Risk
SYBJ.DE vs. SPYL.DE — Risk / Return Rank
SYBJ.DE
SPYL.DE
SYBJ.DE vs. SPYL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Euro High Yield Bond UCITS ETF (SYBJ.DE) and State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.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.
| SYBJ.DE | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.41 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.06 | 3.58 | -2.52 |
| Martin ratioReturn relative to average drawdown | 4.18 | 12.72 | -8.54 |
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
| SYBJ.DE | SPYL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 2.21 | -1.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 1.54 | -0.84 |
Drawdowns
SYBJ.DE vs. SPYL.DE - Drawdown Comparison
The maximum SYBJ.DE drawdown since its inception was -25.59%, which is greater than SPYL.DE's maximum drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for SYBJ.DE and SPYL.DE.
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Drawdown Indicators
| SYBJ.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.59% | -23.27% | -2.32% |
Max Drawdown (1Y)Largest decline over 1 year | -3.19% | -7.13% | +3.94% |
Max Drawdown (3Y)Largest decline over 3 years | -4.19% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.31% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -25.59% | — | — |
Current DrawdownCurrent decline from peak | -0.35% | -0.46% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -2.26% | -3.24% | +0.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 2.01% | -1.20% |
Volatility
SYBJ.DE vs. SPYL.DE - Volatility Comparison
The current volatility for SPDR Bloomberg Euro High Yield Bond UCITS ETF (SYBJ.DE) is 1.34%, while State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) has a volatility of 2.66%. This indicates that SYBJ.DE experiences smaller price fluctuations and is considered to be less risky than SPYL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SYBJ.DE | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 2.66% | -1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 3.82% | 7.57% | -3.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.27% | 11.52% | -7.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.98% | 14.61% | -8.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.98% | 14.61% | -7.63% |
SYBJ.DE vs. SPYL.DE - Expense Ratio Comparison
SYBJ.DE has a 0.40% expense ratio, which is higher than SPYL.DE's 0.03% expense ratio.
Dividends
SYBJ.DE vs. SPYL.DE - Dividend Comparison
SYBJ.DE's dividend yield for the trailing twelve months is around 5.34%, while SPYL.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SYBJ.DE SPDR Bloomberg Euro High Yield Bond UCITS ETF | 5.34% | 5.47% | 5.86% | 4.96% | 3.48% | 2.91% | 3.14% | 3.08% | 2.86% | 3.57% | 3.57% | 3.91% |
Frequently Asked Questions
SYBJ.DE and SPYL.DE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYL.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.DE is cheaper with a 0.03% expense ratio, compared with 0.40% for SYBJ.DE.
SYBJ.DE is categorized as European High Yield Bonds, while SPYL.DE is S&P 500. SYBJ.DE tracks Bloomberg Liquidity Screened Euro High Yield Bond, while SPYL.DE tracks S&P 500 Index. Their fees differ too: 0.40% for SYBJ.DE and 0.03% for SPYL.DE.
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