XSOE.DE vs. SPY4.DE
XSOE.DE (WisdomTree Emerging Markets ex-State-Owned Enterprises UCITS ETF) and SPY4.DE (SPDR S&P 400 US Mid Cap UCITS ETF) are both exchange-traded funds - XSOE.DE is a Emerging Markets Equities fund tracking the WisdomTree Emerging Markets ex-State-Owned Enterprises ESG Screened, while SPY4.DE is a Mid Cap Blend Equities fund tracking the S&P MidCap 400. Both are passively managed. Over the past 3 years, XSOE.DE returned 19.02%/yr vs 14.23%/yr for SPY4.DE. A 0.53 correlation means they provide meaningful diversification when combined. XSOE.DE charges 0.32%/yr vs 0.30%/yr for SPY4.DE.
Performance
XSOE.DE vs. SPY4.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XSOE.DE achieves a 24.95% return, which is significantly higher than SPY4.DE's 18.37% return.
XSOE.DE
- 1D
- 0.00%
- 1M
- 1.43%
- YTD
- 24.95%
- 6M
- 26.76%
- 1Y
- 44.24%
- 3Y*
- 19.02%
- 5Y*
- —
- 10Y*
- —
SPY4.DE
- 1D
- 0.23%
- 1M
- 5.49%
- YTD
- 18.37%
- 6M
- 18.35%
- 1Y
- 29.06%
- 3Y*
- 14.23%
- 5Y*
- 9.17%
- 10Y*
- 11.17%
XSOE.DE vs. SPY4.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XSOE.DE WisdomTree Emerging Markets ex-State-Owned Enterprises UCITS ETF | 24.95% | 16.93% | 10.26% | 6.05% | -19.00% | 3.57% |
SPY4.DE SPDR S&P 400 US Mid Cap UCITS ETF | 18.37% | -3.63% | 18.67% | 13.23% | -8.82% | 10.56% |
Correlation
The correlation between XSOE.DE and SPY4.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 (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2021 | 0.53 |
The correlation between XSOE.DE and SPY4.DE has been stable across timeframes, ranging from 0.50 to 0.53 - a consistent structural relationship.
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Return for Risk
XSOE.DE vs. SPY4.DE — Risk / Return Rank
XSOE.DE
SPY4.DE
XSOE.DE vs. SPY4.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets ex-State-Owned Enterprises UCITS ETF (XSOE.DE) and SPDR S&P 400 US Mid Cap UCITS ETF (SPY4.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.
| XSOE.DE | SPY4.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.35 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.10 | 4.77 | -0.67 |
| Martin ratioReturn relative to average drawdown | 14.49 | 14.64 | -0.15 |
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Drawdowns
XSOE.DE vs. SPY4.DE - Drawdown Comparison
The maximum XSOE.DE drawdown since its inception was -27.69%, smaller than the maximum SPY4.DE drawdown of -42.71%. Use the drawdown chart below to compare losses from any high point for XSOE.DE and SPY4.DE.
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Drawdown Indicators
| XSOE.DE | SPY4.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.69% | -42.71% | +15.02% |
Max Drawdown (1Y)Largest decline over 1 year | -10.85% | -6.07% | -4.78% |
Max Drawdown (3Y)Largest decline over 3 years | -19.83% | -29.11% | +9.28% |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.71% | — |
Current DrawdownCurrent decline from peak | -4.37% | 0.00% | -4.37% |
Average DrawdownAverage peak-to-trough decline | -12.79% | -5.85% | -6.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 1.98% | +1.08% |
Volatility
XSOE.DE vs. SPY4.DE - Volatility Comparison
WisdomTree Emerging Markets ex-State-Owned Enterprises UCITS ETF (XSOE.DE) has a higher volatility of 8.15% compared to SPDR S&P 400 US Mid Cap UCITS ETF (SPY4.DE) at 2.54%. This indicates that XSOE.DE's price experiences larger fluctuations and is considered to be riskier than SPY4.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSOE.DE | SPY4.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.15% | 2.54% | +5.61% |
Volatility (6M)Calculated over the trailing 6-month period | 16.57% | 10.02% | +6.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.24% | 14.60% | +4.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.50% | 18.35% | -0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.50% | 19.49% | -1.99% |
XSOE.DE vs. SPY4.DE - Expense Ratio Comparison
XSOE.DE has a 0.32% expense ratio, which is higher than SPY4.DE's 0.30% expense ratio.
Dividends
XSOE.DE vs. SPY4.DE - Dividend Comparison
Neither XSOE.DE nor SPY4.DE has paid dividends to shareholders.
Frequently Asked Questions
XSOE.DE and SPY4.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, SPY4.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPY4.DE is cheaper with a 0.30% expense ratio, compared with 0.32% for XSOE.DE.
XSOE.DE is categorized as Emerging Markets Equities, while SPY4.DE is Mid Cap Blend Equities. XSOE.DE tracks WisdomTree Emerging Markets ex-State-Owned Enterprises ESG Screened, while SPY4.DE tracks S&P MidCap 400. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.32% for XSOE.DE and 0.30% for SPY4.DE.
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