VEUR.AS vs. SPYW.DE
VEUR.AS (Vanguard FTSE Developed Europe UCITS ETF) and SPYW.DE (SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist)) are both Europe Equities funds - VEUR.AS tracks the MSCI Europe NR EUR while SPYW.DE tracks the S&P Euro High Yield Dividend Aristocrats. Both are passively managed. Over the past 10 years, VEUR.AS returned 9.23%/yr vs 6.79%/yr for SPYW.DE. Their correlation of 0.88 suggests significant overlap in exposure. VEUR.AS charges 0.10%/yr vs 0.30%/yr for SPYW.DE.
Performance
VEUR.AS vs. SPYW.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VEUR.AS achieves a 7.16% return, which is significantly higher than SPYW.DE's 5.36% return. Over the past 10 years, VEUR.AS has outperformed SPYW.DE with an annualized return of 9.23%, while SPYW.DE has yielded a comparatively lower 6.79% annualized return.
VEUR.AS
- 1D
- 0.57%
- 1M
- 3.20%
- YTD
- 7.16%
- 6M
- 9.88%
- 1Y
- 16.32%
- 3Y*
- 14.06%
- 5Y*
- 9.93%
- 10Y*
- 9.23%
SPYW.DE
- 1D
- 0.09%
- 1M
- -0.36%
- YTD
- 5.36%
- 6M
- 7.28%
- 1Y
- 7.88%
- 3Y*
- 13.21%
- 5Y*
- 8.07%
- 10Y*
- 6.79%
VEUR.AS vs. SPYW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEUR.AS Vanguard FTSE Developed Europe UCITS ETF | 7.16% | 19.69% | 10.27% | 16.15% | -10.11% | 25.55% | -2.72% | 25.95% | -10.04% | 10.80% |
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) | 5.36% | 20.24% | 8.29% | 17.93% | -11.23% | 14.36% | -11.84% | 23.34% | -8.58% | 11.23% |
Correlation
The correlation between VEUR.AS and SPYW.DE is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since May 22, 2013 | 0.88 |
The correlation between VEUR.AS and SPYW.DE has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
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Return for Risk
VEUR.AS vs. SPYW.DE — Risk / Return Rank
VEUR.AS
SPYW.DE
VEUR.AS vs. SPYW.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS) and SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.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.
| VEUR.AS | SPYW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.14 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 0.98 | +0.70 |
| Martin ratioReturn relative to average drawdown | 6.34 | 3.14 | +3.20 |
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
| VEUR.AS | SPYW.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 0.74 | +0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.60 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.45 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.53 | 0.00 |
Drawdowns
VEUR.AS vs. SPYW.DE - Drawdown Comparison
The maximum VEUR.AS drawdown since its inception was -35.63%, smaller than the maximum SPYW.DE drawdown of -38.68%. Use the drawdown chart below to compare losses from any high point for VEUR.AS and SPYW.DE.
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Drawdown Indicators
| VEUR.AS | SPYW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.63% | -38.68% | +3.05% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -7.99% | -1.60% |
Max Drawdown (3Y)Largest decline over 3 years | -16.41% | -11.64% | -4.77% |
Max Drawdown (5Y)Largest decline over 5 years | -20.19% | -23.97% | +3.78% |
Max Drawdown (10Y)Largest decline over 10 years | -35.63% | -38.68% | +3.05% |
Current DrawdownCurrent decline from peak | -1.62% | -2.54% | +0.92% |
Average DrawdownAverage peak-to-trough decline | -5.29% | -5.62% | +0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 2.50% | +0.05% |
Volatility
VEUR.AS vs. SPYW.DE - Volatility Comparison
Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS) has a higher volatility of 4.38% compared to SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.DE) at 2.92%. This indicates that VEUR.AS's price experiences larger fluctuations and is considered to be riskier than SPYW.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEUR.AS | SPYW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.38% | 2.92% | +1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 10.62% | 8.76% | +1.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.81% | 10.65% | +2.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.22% | 13.27% | +0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.51% | 14.88% | +0.63% |
VEUR.AS vs. SPYW.DE - Expense Ratio Comparison
VEUR.AS has a 0.10% expense ratio, which is lower than SPYW.DE's 0.30% expense ratio.
Dividends
VEUR.AS vs. SPYW.DE - Dividend Comparison
VEUR.AS's dividend yield for the trailing twelve months is around 2.60%, less than SPYW.DE's 3.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) | 3.60% | 4.07% | 3.67% | 3.31% | 3.62% | 2.78% | 3.05% | 3.10% | 3.74% | 3.15% | 2.97% | 2.99% |
VEUR.AS Vanguard FTSE Developed Europe UCITS ETF | 2.60% | 2.79% | 3.04% | 3.00% | 3.32% | 2.66% | 2.24% | 3.24% | 3.62% | 3.05% | 3.19% | 3.10% |
Frequently Asked Questions
VEUR.AS and SPYW.DE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VEUR.AS is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEUR.AS is cheaper with a 0.10% expense ratio, compared with 0.30% for SPYW.DE.
VEUR.AS tracks MSCI Europe NR EUR, while SPYW.DE tracks S&P Euro High Yield Dividend Aristocrats. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.10% for VEUR.AS and 0.30% for SPYW.DE.
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