VGK vs. SPYL.DE
VGK (Vanguard FTSE Europe ETF) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - VGK is a Europe Equities fund tracking the FTSE Developed Europe All Cap Index, while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, VGK returned 19.73% vs 27.18% for SPYL.DE. At a 0.45 correlation, their price movements are largely independent. VGK charges 0.06%/yr vs 0.03%/yr for SPYL.DE.
Performance
VGK vs. SPYL.DE - Performance Comparison
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Different Trading Currencies
VGK is traded in USD, while SPYL.DE is traded in EUR. To make them comparable, the SPYL.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VGK achieves a 7.69% return, which is significantly lower than SPYL.DE's 10.07% return.
VGK
- 1D
- 0.18%
- 1M
- 2.46%
- YTD
- 7.69%
- 6M
- 9.92%
- 1Y
- 19.73%
- 3Y*
- 16.69%
- 5Y*
- 8.50%
- 10Y*
- 10.28%
SPYL.DE
- 1D
- -0.04%
- 1M
- 0.86%
- YTD
- 10.07%
- 6M
- 11.42%
- 1Y
- 27.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VGK vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VGK Vanguard FTSE Europe ETF | 7.69% | 35.83% | 1.88% | 15.69% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 10.07% | 18.21% | 24.76% | 14.39% |
Correlation
The correlation between VGK and SPYL.DE is 0.53, 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 | 0.53 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023 | 0.45 |
The correlation between VGK and SPYL.DE has been stable across timeframes, ranging from 0.45 to 0.53 - a consistent structural relationship.
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Return for Risk
VGK vs. SPYL.DE — Risk / Return Rank
VGK
SPYL.DE
VGK vs. SPYL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Europe ETF (VGK) 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.
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.
| VGK | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.26 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.42 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 3.21 | -1.72 |
| Martin ratioReturn relative to average drawdown | 5.52 | 13.71 | -8.19 |
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Drawdowns
VGK vs. SPYL.DE - Drawdown Comparison
The maximum VGK drawdown since its inception was -63.61%, which is greater than SPYL.DE's maximum drawdown of -19.42%. Use the drawdown chart below to compare losses from any high point for VGK and SPYL.DE.
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Drawdown Indicators
| VGK | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.61% | -19.42% | -44.19% |
Max Drawdown (1Y)Largest decline over 1 year | -12.09% | -8.60% | -3.49% |
Max Drawdown (3Y)Largest decline over 3 years | -14.31% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -32.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -37.24% | — | — |
Current DrawdownCurrent decline from peak | -0.50% | -0.64% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -13.33% | -1.78% | -11.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 2.02% | +1.25% |
Volatility
VGK vs. SPYL.DE - Volatility Comparison
Vanguard FTSE Europe ETF (VGK) has a higher volatility of 5.82% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 2.85%. This indicates that VGK's price experiences larger fluctuations and is considered to be riskier 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
| VGK | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.82% | 2.85% | +2.97% |
Volatility (6M)Calculated over the trailing 6-month period | 13.36% | 8.13% | +5.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.92% | 11.54% | +4.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.98% | 14.19% | +3.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.95% | 14.19% | +4.76% |
VGK vs. SPYL.DE - Expense Ratio Comparison
VGK has a 0.06% expense ratio, which is higher than SPYL.DE's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VGK vs. SPYL.DE - Dividend Comparison
VGK's dividend yield for the trailing twelve months is around 2.76%, 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% |
VGK Vanguard FTSE Europe ETF | 2.76% | 2.86% | 3.61% | 3.15% | 3.25% | 3.05% | 2.11% | 3.27% | 3.95% | 2.70% | 3.52% | 3.25% |
Frequently Asked Questions
VGK and SPYL.DE have a correlation of 0.53, 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 0.06% for VGK.
VGK is categorized as Europe Equities, while SPYL.DE is S&P 500. VGK tracks FTSE Developed Europe All Cap Index, while SPYL.DE tracks S&P 500 Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.06% for VGK and 0.03% for SPYL.DE.
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