- Issuer
- State Street
- Inception Date
- Nov 30, 2015
- Category
- Japan Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- MSCI Japan 100% Hedged to EUR Index
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
ZPDW.DE Performance Chart
State Street SPDR MSCI Japan EUR Hdg UCITS ETF (ZPDW.DE) is up 21.4% since the beginning of the year. ZPDW.DE is currently trading at €110 per share. Investors who bought €1,000 worth of ZPDW.DE shares 5 years ago would now be looking at an investment worth €2,472.
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Returns By Period
State Street SPDR MSCI Japan EUR Hdg UCITS ETF (ZPDW.DE) has returned 21.38% so far this year and 48.83% over the past 12 months. Looking at the last ten years, ZPDW.DE has achieved an annualized return of 15.28%, outperforming the S&P 500 Index benchmark, which averaged 13.23% per year.
State Street SPDR MSCI Japan EUR Hdg UCITS ETF
- 1D
- 1.19%
- 1M
- 1.95%
- 6M
- 21.11%
- YTD
- 21.38%
- 1Y
- 48.83%
- 3Y*
- 26.19%
- 5Y*
- 19.84%
- 10Y*
- 15.28%
Benchmark (S&P 500 Index)
- 1D
- -0.43%
- 1M
- 0.48%
- 6M
- 11.83%
- YTD
- 12.30%
- 1Y
- 22.52%
- 3Y*
- 17.03%
- 5Y*
- 12.27%
- 10Y*
- 13.23%
ZPDW.DE Monthly Returns History
Based on dividend-adjusted daily data since Nov 30, 2015, ZPDW.DE's average daily return is +0.05%, while the average monthly return is +0.99%. At this rate, an investment would double in approximately 5.9 years.
Historically, 65% of months were positive and 35% were negative. The best month was Nov 2020 with a return of +10.9%, while the worst month was Feb 2016 at -10.2%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, ZPDW.DE closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +8.2%, while the worst single day was Mar 12, 2020 at -12.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.60% | 9.24% | -9.31% | 6.26% | 6.44% | 2.96% | 0.58% | 21.38% | |||||
| 2025 | 1.05% | -3.49% | -0.32% | -0.59% | 5.03% | 2.48% | 2.82% | 3.68% | 2.94% | 8.74% | 0.96% | 1.73% | 27.50% |
| 2024 | 7.46% | 6.15% | 4.78% | -0.85% | 1.46% | 3.34% | -3.06% | -1.76% | -2.03% | 1.04% | 1.18% | 3.60% | 22.78% |
| 2023 | 5.81% | 0.63% | 2.34% | 2.48% | 3.86% | 9.32% | 1.35% | -0.56% | 1.23% | -0.93% | 4.32% | -0.07% | 33.59% |
| 2022 | -5.66% | 0.11% | 3.12% | -1.27% | -0.88% | -2.64% | 4.28% | 0.54% | -4.70% | 4.21% | 3.32% | -5.80% | -5.96% |
| 2021 | 0.73% | 3.98% | 4.01% | -2.80% | 1.50% | 0.50% | -1.38% | 2.20% | 4.17% | -0.78% | -4.45% | 4.75% | 12.63% |
Benchmark Metrics
State Street SPDR MSCI Japan EUR Hdg UCITS ETF has an annualized alpha of 5.24%, beta of 0.49, and R2 of 0.22 versus S&P 500 Index. Calculated based on daily prices since November 30, 2015.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (63.92%) than losses (60.22%) - typical of diversified or defensive assets.
- Beta of 0.49 may look defensive, but with R2 of 0.22 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.22 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 5.24%
- Beta
- 0.49
- R²
- 0.22
- Upside Capture
- 63.92%
- Downside Capture
- 60.22%
Expense Ratio
ZPDW.DE has an expense ratio of 0.17%, which is considered low.
Return for Risk
Risk / Return Rank
ZPDW.DE ranks 90 for risk / return — in the top 90% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for State Street SPDR MSCI Japan EUR Hdg UCITS ETF (ZPDW.DE) and compare them to S&P 500 Index.
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.
| ZPDW.DE | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.35 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 5.04 | 3.18 | +1.85 |
| Martin ratioReturn relative to average drawdown | 16.98 | 11.76 | +5.22 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the State Street SPDR MSCI Japan EUR Hdg UCITS ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the State Street SPDR MSCI Japan EUR Hdg UCITS ETF was 34.37%, occurring on Mar 12, 2020. Recovery took 202 trading sessions.
The current State Street SPDR MSCI Japan EUR Hdg UCITS ETF drawdown is 2.76%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -34.37%Mar 2020 | 2y 1mo | 9mo 22d | 2y 11moJan 2018 - Dec 2020 |
2016 bear market2016 | -26.76%Jun 2016 | 6mo 27d | 1y 1mo | 1y 8moDec 2015 - Aug 2017 |
2024 bear market2024 | -21.70%Aug 2024 | 25d | 11mo 22d | 1y 12dJul 2024 - Jul 2025 |
Bear market2022 | -16.32%Mar 2022 | 5mo 25d | 1y 1mo | 1y 7moSep 2021 - Apr 2023 |
2026 pullback2026 | -9.65%Mar 2026 | 18d | 1mo 22d | 2mo 10dMar 2026 - May 2026 |
Drawdown Indicators
| ZPDW.DE | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.37% | -51.62% | +17.25% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -7.57% | -2.08% |
Max Drawdown (3Y)Largest decline over 3 years | -21.70% | -23.99% | +2.29% |
Max Drawdown (5Y)Largest decline over 5 years | -21.70% | -23.99% | +2.29% |
Max Drawdown (10Y)Largest decline over 10 years | -34.37% | -33.42% | -0.95% |
Current DrawdownCurrent decline from peak | -2.76% | -0.43% | -2.33% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -9.08% | +1.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.87% | 2.04% | +0.83% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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