XS5E.DE vs. IS31.DE
XS5E.DE (Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc)) and IS31.DE (iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc)) are both S&P 500 funds - XS5E.DE tracks the S&P 500 Index (EUR Hedged) while IS31.DE tracks the S&P 500 Minimum Volatility Index (EUR Hedged). Both are passively managed. Over the past 3 years, XS5E.DE returned 17.82%/yr vs 10.62%/yr for IS31.DE. Their correlation of 0.85 suggests significant overlap in exposure. XS5E.DE charges 0.20%/yr vs 0.25%/yr for IS31.DE.
Performance
XS5E.DE vs. IS31.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XS5E.DE achieves a 7.75% return, which is significantly higher than IS31.DE's 3.24% return.
XS5E.DE
- 1D
- 0.18%
- 1M
- -0.99%
- 6M
- 8.38%
- YTD
- 7.75%
- 1Y
- 17.67%
- 3Y*
- 17.82%
- 5Y*
- —
- 10Y*
- —
IS31.DE
- 1D
- 0.09%
- 1M
- 0.37%
- 6M
- 4.54%
- YTD
- 3.24%
- 1Y
- 7.12%
- 3Y*
- 10.62%
- 5Y*
- 5.98%
- 10Y*
- —
XS5E.DE vs. IS31.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XS5E.DE Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc) | 7.75% | 15.25% | 23.26% | 23.58% | -21.91% | 9.25% |
IS31.DE iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc) | 3.24% | 9.27% | 16.79% | 6.75% | -14.54% | 9.61% |
Correlation
The correlation between XS5E.DE and IS31.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 | 0.82 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | 0.85 |
The correlation between XS5E.DE and IS31.DE has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.
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Return for Risk
XS5E.DE vs. IS31.DE — Risk / Return Rank
XS5E.DE
IS31.DE
XS5E.DE vs. IS31.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc) (XS5E.DE) and iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc) (IS31.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.
| XS5E.DE | IS31.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.15 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 1.07 | +0.97 |
| Martin ratioReturn relative to average drawdown | 8.14 | 4.05 | +4.09 |
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Drawdowns
XS5E.DE vs. IS31.DE - Drawdown Comparison
The maximum XS5E.DE drawdown since its inception was -26.08%, smaller than the maximum IS31.DE drawdown of -33.66%. Use the drawdown chart below to compare losses from any high point for XS5E.DE and IS31.DE.
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Drawdown Indicators
| XS5E.DE | IS31.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.08% | -33.66% | +7.58% |
Max Drawdown (1Y)Largest decline over 1 year | -8.63% | -6.64% | -1.99% |
Max Drawdown (3Y)Largest decline over 3 years | -18.49% | -12.56% | -5.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.75% | — |
Current DrawdownCurrent decline from peak | -1.61% | 0.00% | -1.61% |
Average DrawdownAverage peak-to-trough decline | -7.10% | -4.85% | -2.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 1.75% | +0.42% |
Volatility
XS5E.DE vs. IS31.DE - Volatility Comparison
Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc) (XS5E.DE) has a higher volatility of 4.03% compared to iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc) (IS31.DE) at 2.94%. This indicates that XS5E.DE's price experiences larger fluctuations and is considered to be riskier than IS31.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XS5E.DE | IS31.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.03% | 2.94% | +1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 9.21% | 6.51% | +2.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.08% | 8.76% | +3.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.24% | 12.78% | +3.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.24% | 14.38% | +1.86% |
XS5E.DE vs. IS31.DE - Expense Ratio Comparison
XS5E.DE has a 0.20% expense ratio, which is lower than IS31.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XS5E.DE vs. IS31.DE - Dividend Comparison
Neither XS5E.DE nor IS31.DE has paid dividends to shareholders.
Frequently Asked Questions
XS5E.DE and IS31.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, XS5E.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XS5E.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for IS31.DE.
XS5E.DE tracks S&P 500 Index (EUR Hedged), while IS31.DE tracks S&P 500 Minimum Volatility Index (EUR Hedged). They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.20% for XS5E.DE and 0.25% for IS31.DE.
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