XS5E.DE vs. SPYL.DE
XS5E.DE (Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc)) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both S&P 500 funds - XS5E.DE tracks the S&P 500 Index (EUR Hedged) while SPYL.DE tracks the S&P 500 Index. Both are passively managed. Over the past year, XS5E.DE returned 17.67% vs 23.84% for SPYL.DE. A 0.78 correlation means they provide meaningful diversification when combined. XS5E.DE charges 0.20%/yr vs 0.03%/yr for SPYL.DE.
Performance
XS5E.DE vs. SPYL.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 lower than SPYL.DE's 11.99% return.
XS5E.DE
- 1D
- 0.18%
- 1M
- -0.99%
- 6M
- 8.38%
- YTD
- 7.75%
- 1Y
- 17.67%
- 3Y*
- 17.82%
- 5Y*
- —
- 10Y*
- —
SPYL.DE
- 1D
- 0.00%
- 1M
- 0.41%
- 6M
- 12.78%
- YTD
- 11.99%
- 1Y
- 23.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XS5E.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XS5E.DE Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc) | 7.75% | 15.25% | 23.26% | 13.61% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.99% | 4.71% | 32.33% | 8.23% |
Correlation
The correlation between XS5E.DE and SPYL.DE is 0.83, 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 | 0.83 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.78 |
The correlation between XS5E.DE and SPYL.DE has been stable across timeframes, ranging from 0.78 to 0.83 - a consistent structural relationship.
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Return for Risk
XS5E.DE vs. SPYL.DE — Risk / Return Rank
XS5E.DE
SPYL.DE
XS5E.DE vs. SPYL.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 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.
| XS5E.DE | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 3.36 | -1.32 |
| Martin ratioReturn relative to average drawdown | 8.14 | 11.80 | -3.66 |
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Drawdowns
XS5E.DE vs. SPYL.DE - Drawdown Comparison
The maximum XS5E.DE drawdown since its inception was -26.08%, which is greater than SPYL.DE's maximum drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for XS5E.DE and SPYL.DE.
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Drawdown Indicators
| XS5E.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.08% | -23.27% | -2.81% |
Max Drawdown (1Y)Largest decline over 1 year | -8.63% | -7.13% | -1.50% |
Max Drawdown (3Y)Largest decline over 3 years | -18.49% | — | — |
Current DrawdownCurrent decline from peak | -1.61% | -0.86% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -7.10% | -3.31% | -3.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 2.03% | +0.14% |
Volatility
XS5E.DE vs. SPYL.DE - Volatility Comparison
Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc) (XS5E.DE) has a higher volatility of 4.03% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 3.64%. This indicates that XS5E.DE'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
| XS5E.DE | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.03% | 3.64% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 9.21% | 8.15% | +1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.08% | 12.03% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.24% | 15.00% | +1.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.24% | 15.00% | +1.24% |
XS5E.DE vs. SPYL.DE - Expense Ratio Comparison
XS5E.DE has a 0.20% 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
XS5E.DE vs. SPYL.DE - Dividend Comparison
Neither XS5E.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
XS5E.DE and SPYL.DE have a correlation of 0.83, 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 0.20% for XS5E.DE.
XS5E.DE tracks S&P 500 Index (EUR Hedged), while SPYL.DE tracks S&P 500 Index. They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.20% for XS5E.DE and 0.03% for SPYL.DE.
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