UMG.AS vs. SPOT

Last updated Jun 5, 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 1.37%/yr vs 44.45%/yr for SPOT. At a 0.20 correlation, their price movements are largely independent.

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 -16.74% return, which is significantly lower than SPOT's -12.74% return.

UMG.AS

• 1D: -4.87%
• 1M: -3.35%
• YTD: -16.74%
• 6M: -15.10%
• 1Y: -31.67%
• 3Y*: 1.37%
• 5Y*: —
• 10Y*: —

SPOT

• 1D: 1.49%
• 1M: 19.17%
• YTD: -12.74%
• 6M: -11.11%
• 1Y: -30.75%
• 3Y*: 44.45%
• 5Y*: 17.31%
• 10Y*: —

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

UMG.AS vs. SPOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UMG.AS Universal Music Group N.V.	-16.74%	-8.27%	-2.32%	17.50%	-7.15%	-0.48%
SPOT Spotify Technology S.A.	-12.74%	14.40%	153.80%	130.88%	-64.17%	2.93%

Correlation

The correlation between UMG.AS and SPOT is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021	0.20

Return for Risk

UMG.AS vs. SPOT — Risk / Return Rank

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

UMG.AS

UMG.AS Risk / Return Rank: 9
UMG.AS Sharpe Ratio Rank: 5
UMG.AS Sortino Ratio Rank: 7
UMG.AS Omega Ratio Rank: 7
UMG.AS Calmar Ratio Rank: 15
UMG.AS Martin Ratio Rank: 9

SPOT

SPOT Risk / Return Rank: 15
SPOT Sharpe Ratio Rank: 13
SPOT Sortino Ratio Rank: 15
SPOT Omega Ratio Rank: 15
SPOT Calmar Ratio Rank: 18
SPOT Martin Ratio Rank: 17

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.

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.

	UMG.AS	SPOT	Difference
Sharpe ratio: Return per unit of total volatility	-1.00	-0.67	-0.33
Sortino ratio: Return per unit of downside risk	-1.36	-0.80	-0.56
Omega ratio: Gain probability vs. loss probability	0.82	0.90	-0.08
Calmar ratio: Return relative to maximum drawdown	-0.71	-0.65	-0.06
Martin ratio: Return relative to average drawdown	-1.39	-1.16	-0.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UMG.AS vs. SPOT - Sharpe Ratio Comparison

The current UMG.AS Sharpe Ratio is -1.00, which is lower than the SPOT Sharpe Ratio of -0.67. 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.

Sharpe Ratios by Period

	UMG.AS	SPOT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.00	-0.67	-0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.14	0.36	-0.49

Drawdowns

UMG.AS vs. SPOT - Drawdown Comparison

The maximum UMG.AS drawdown since its inception was -45.40%, 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	-45.40%	-77.36%	+31.96%
Max Drawdown (1Y) Largest decline over 1 year	-44.45%	-47.50%	+3.05%
Max Drawdown (3Y) Largest decline over 3 years	-45.40%	-47.50%	+2.10%
Max Drawdown (5Y) Largest decline over 5 years	—	-73.73%	—
Current Drawdown Current decline from peak	-34.65%	-34.96%	+0.31%
Average Drawdown Average peak-to-trough decline	-16.32%	-28.57%	+12.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.88%	26.58%	-3.70%

Volatility

UMG.AS vs. SPOT - Volatility Comparison

The current volatility for Universal Music Group N.V. (UMG.AS) is 8.45%, while Spotify Technology S.A. (SPOT) has a volatility of 16.14%. This indicates that UMG.AS experiences smaller price fluctuations and is considered to be less risky 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	8.45%	16.14%	-7.69%
Volatility (6M) Calculated over the trailing 6-month period	26.33%	37.66%	-11.33%
Volatility (1Y) Calculated over the trailing 1-year period	31.55%	45.76%	-14.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.55%	47.15%	-15.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.55%	47.11%	-15.56%

Dividends

UMG.AS vs. SPOT - Dividend Comparison

UMG.AS's dividend yield for the trailing twelve months is around 2.85%, 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.	2.85%	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 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.