UMG.AS vs. SPOT

Last updated Aug 1, 2026

UMG.AS (Universal Music Group N.V.) and SPOT (Spotify Technology S.A.) are both stocks. Both are in the Communication Services sector — UMG.AS in Entertainment, SPOT in Internet Content & Information. Over the past 3 years, UMG.AS returned -13.07%/yr vs 46.86%/yr for SPOT. Their 0.21 correlation means their historical movements had little consistent relationship.

Performance

UMG.AS vs. SPOT - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Universal Music Group N.V. (UMG.AS) and Spotify Technology S.A. (SPOT). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

UMG.AS is traded in EUR, while SPOT is traded in USD. To make them comparable, the SPOT values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, UMG.AS achieves a -34.18% return, which is significantly lower than SPOT's -12.28% return.

UMG.AS

• 1D: -25.40%
• 1M: -23.56%
• 6M: -29.25%
• YTD: -34.18%
• 1Y: -41.79%
• 3Y*: -13.07%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -8.88%

SPOT

• 1D: -4.35%
• 1M: 4.50%
• 6M: 2.70%
• YTD: -12.28%
• 1Y: -21.02%
• 3Y*: 46.86%
• 5Y*: 17.61%
• 10Y*: —
• ALL TIME*: 15.02%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SPOT Spotify Technology S.A.	€814.21M	€708.76M	€831.07M
UMG.AS Universal Music Group N.V.	€67.23M	€51.28M	€57.06M

UMG.AS vs. SPOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UMG.AS Universal Music Group N.V.	-34.18%	-8.27%	-2.32%	17.50%	-7.15%	-1.07%
SPOT Spotify Technology S.A.	-12.28%	14.40%	153.80%	130.88%	-64.17%	1.53%

Correlation

The correlation between UMG.AS and SPOT is 0.22, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.22
Correlation (3Y) Balances recent behavior with more history.	0.17
Correlation (All Time) Calculated using the full available price history since Sep 21, 2021	0.21

Return for Risk

UMG.AS vs. SPOT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UMG.AS

UMG.AS Risk / Return Rank: 4
UMG.AS Sharpe Ratio Rank: 4
UMG.AS Sortino Ratio Rank: 9
UMG.AS Omega Ratio Rank: 5
UMG.AS Calmar Ratio Rank: 2
UMG.AS Martin Ratio Rank: 1

SPOT

SPOT Risk / Return Rank: 25
SPOT Sharpe Ratio Rank: 23
SPOT Sortino Ratio Rank: 23
SPOT Omega Ratio Rank: 23
SPOT Calmar Ratio Rank: 28
SPOT Martin Ratio Rank: 30

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UMG.AS vs. SPOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Universal Music Group N.V. (UMG.AS) and Spotify Technology S.A. (SPOT). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	UMG.AS	SPOT	Difference
Sharpe ratio: Return per unit of total volatility	-1.03	-0.48	-0.55
Sortino ratio: Return per unit of downside risk	-1.30	-0.47	-0.83
Omega ratio: Gain probability vs. loss probability	0.78	0.94	-0.16
Calmar ratio: Return relative to maximum drawdown	-0.99	-0.48	-0.52
Martin ratio: Return relative to average drawdown	-2.17	-0.80	-1.38

UMG.AS vs. SPOT - Sharpe Ratio Comparison

The current UMG.AS Sharpe Ratio is -1.03, which is lower than the SPOT Sharpe Ratio of -0.48. The chart below compares the historical Sharpe Ratios of UMG.AS and SPOT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UMG.AS vs. SPOT - Drawdown Comparison

The maximum UMG.AS drawdown since its inception was -48.34%, smaller than the maximum SPOT drawdown of -77.36%. Use the drawdown chart below to compare losses from any high point for UMG.AS and SPOT.

Drawdown Indicators

	UMG.AS	SPOT	Difference
Max Drawdown Largest peak-to-trough decline	-48.34%	-77.36%	+29.02%
Max Drawdown (1Y) Largest decline over 1 year	-41.63%	-44.38%	+2.75%
Max Drawdown (3Y) Largest decline over 3 years	-48.34%	-47.50%	-0.84%
Max Drawdown (5Y) Largest decline over 5 years	—	-73.73%	—
Current Drawdown Current decline from peak	-48.34%	-34.62%	-13.72%
Average Drawdown Average peak-to-trough decline	-16.91%	-28.77%	+11.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.16%	26.39%	-7.23%

Volatility

UMG.AS vs. SPOT - Volatility Comparison

Universal Music Group N.V. (UMG.AS) has a higher volatility of 30.29% compared to Spotify Technology S.A. (SPOT) at 10.00%. This indicates that UMG.AS's price experiences larger fluctuations and is considered to be riskier than SPOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UMG.AS	SPOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.29%	10.00%	+20.29%
Volatility (6M) Calculated over the trailing 6-month period	39.57%	38.32%	+1.25%
Volatility (1Y) Calculated over the trailing 1-year period	40.20%	43.86%	-3.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.31%	47.15%	-13.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.31%	47.03%	-13.72%

Dividends

UMG.AS vs. SPOT - Dividend Comparison

UMG.AS's dividend yield for the trailing twelve months is around 3.60%, while SPOT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
SPOT Spotify Technology S.A.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UMG.AS Universal Music Group N.V.	3.60%	2.34%	2.06%	1.98%	1.95%	0.81%

Financials

Frequently Asked Questions

Can I hold both UMG.AS and SPOT in my portfolio?

UMG.AS and SPOT have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.