36B1.DE vs. ZPR5.DE
36B1.DE (iShares J.P. Morgan ESG USD EM Bond UCITS ETF) and ZPR5.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF) are both Emerging Markets Bonds funds - 36B1.DE tracks the JP Morgan ESG EMBI Global Diversified while ZPR5.DE tracks the ICE BofA Emerging Markets USD Government Bond 0-5 ex-144a. Both are passively managed. Over the past 5 years, 36B1.DE returned 2.20%/yr vs 3.18%/yr for ZPR5.DE. A 0.72 correlation means they provide meaningful diversification when combined. 36B1.DE charges 0.45%/yr vs 0.42%/yr for ZPR5.DE.
Performance
36B1.DE vs. ZPR5.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 36B1.DE achieves a 2.43% return, which is significantly higher than ZPR5.DE's 2.14% return.
36B1.DE
- 1D
- 0.13%
- 1M
- 1.40%
- YTD
- 2.43%
- 6M
- 1.88%
- 1Y
- 8.21%
- 3Y*
- 5.51%
- 5Y*
- 2.20%
- 10Y*
- —
ZPR5.DE
- 1D
- -0.10%
- 1M
- 1.03%
- YTD
- 2.14%
- 6M
- 1.53%
- 1Y
- 3.84%
- 3Y*
- 3.25%
- 5Y*
- 3.18%
- 10Y*
- 2.25%
36B1.DE vs. ZPR5.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
36B1.DE iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 2.43% | -0.10% | 10.86% | 5.55% | -13.71% | 6.46% | -4.35% | 11.07% |
ZPR5.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF | 2.14% | -4.12% | 11.04% | 2.52% | -1.06% | 7.98% | -6.72% | 4.27% |
Correlation
The correlation between 36B1.DE and ZPR5.DE is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Mar 14, 2019 | 0.72 |
The correlation between 36B1.DE and ZPR5.DE has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.
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Return for Risk
36B1.DE vs. ZPR5.DE — Risk / Return Rank
36B1.DE
ZPR5.DE
36B1.DE vs. ZPR5.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (36B1.DE) and SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (ZPR5.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.
| 36B1.DE | ZPR5.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.11 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 1.11 | +1.52 |
| Martin ratioReturn relative to average drawdown | 6.72 | 2.73 | +3.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| 36B1.DE | ZPR5.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 0.65 | +0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.45 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.31 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.39 | -0.16 |
Drawdowns
36B1.DE vs. ZPR5.DE - Drawdown Comparison
The maximum 36B1.DE drawdown since its inception was -22.46%, which is greater than ZPR5.DE's maximum drawdown of -14.48%. Use the drawdown chart below to compare losses from any high point for 36B1.DE and ZPR5.DE.
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Drawdown Indicators
| 36B1.DE | ZPR5.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.46% | -14.48% | -7.98% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -3.21% | +0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -12.43% | -9.72% | -2.71% |
Max Drawdown (5Y)Largest decline over 5 years | -16.34% | -9.92% | -6.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.48% | — |
Current DrawdownCurrent decline from peak | -1.33% | -4.28% | +2.95% |
Average DrawdownAverage peak-to-trough decline | -8.64% | -4.88% | -3.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 1.30% | -0.14% |
Volatility
36B1.DE vs. ZPR5.DE - Volatility Comparison
iShares J.P. Morgan ESG USD EM Bond UCITS ETF (36B1.DE) has a higher volatility of 1.21% compared to SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (ZPR5.DE) at 0.96%. This indicates that 36B1.DE's price experiences larger fluctuations and is considered to be riskier than ZPR5.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 36B1.DE | ZPR5.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 0.96% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 3.81% | 3.56% | +0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.87% | 5.43% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.41% | 7.04% | +1.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.55% | 7.20% | +2.35% |
36B1.DE vs. ZPR5.DE - Expense Ratio Comparison
36B1.DE has a 0.45% expense ratio, which is higher than ZPR5.DE's 0.42% expense ratio.
Dividends
36B1.DE vs. ZPR5.DE - Dividend Comparison
36B1.DE's dividend yield for the trailing twelve months is around 4.93%, more than ZPR5.DE's 4.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
36B1.DE iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 4.93% | 5.22% | 4.96% | 5.09% | 5.00% | 4.57% | 3.40% | 4.19% | 0.00% | 0.00% | 0.00% | 0.00% |
ZPR5.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF | 4.83% | 5.10% | 4.16% | 3.16% | 2.54% | 2.63% | 3.53% | 3.34% | 2.73% | 3.18% | 2.72% | 1.83% |
Frequently Asked Questions
36B1.DE and ZPR5.DE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPR5.DE is cheaper at 0.42% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPR5.DE is cheaper with a 0.42% expense ratio, compared with 0.45% for 36B1.DE.
36B1.DE tracks JP Morgan ESG EMBI Global Diversified, while ZPR5.DE tracks ICE BofA Emerging Markets USD Government Bond 0-5 ex-144a. They also come from different issuers: iShares and State Street. Their fees differ too: 0.45% for 36B1.DE and 0.42% for ZPR5.DE.
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