AW1I.DE vs. ZPDW.DE

Last updated Jul 16, 2026

AW1I.DE (UBS ETF (IE) MSCI Japan ESG Universal Low Carbon Select UCITS ETF (JPY) Acc) and ZPDW.DE (State Street SPDR MSCI Japan EUR Hdg UCITS ETF) are both Japan Equities funds - AW1I.DE tracks the MSCI Japan ESG Universal Low Carbon Select 5% Issuer Capped while ZPDW.DE tracks the MSCI Japan 100% Hedged to EUR Index. Both are passively managed. Over the past 3 years, AW1I.DE returned 17.64%/yr vs 27.02%/yr for ZPDW.DE. Their correlation of 0.81 suggests significant overlap in exposure. AW1I.DE charges 0.15%/yr vs 0.17%/yr for ZPDW.DE.

Performance

AW1I.DE vs. ZPDW.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (IE) MSCI Japan ESG Universal Low Carbon Select UCITS ETF (JPY) Acc (AW1I.DE) and State Street SPDR MSCI Japan EUR Hdg UCITS ETF (ZPDW.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AW1I.DE achieves a 19.55% return, which is significantly lower than ZPDW.DE's 20.74% return.

AW1I.DE

• 1D: 0.00%
• 1M: 2.07%
• 6M: 12.93%
• YTD: 19.55%
• 1Y: 39.39%
• 3Y*: 17.64%
• 5Y*: —
• 10Y*: —

ZPDW.DE

• 1D: -0.90%
• 1M: 0.79%
• 6M: 13.52%
• YTD: 20.74%
• 1Y: 49.79%
• 3Y*: 27.02%
• 5Y*: 19.99%
• 10Y*: 14.41%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AW1I.DE vs. ZPDW.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AW1I.DE UBS ETF (IE) MSCI Japan ESG Universal Low Carbon Select UCITS ETF (JPY) Acc	19.55%	13.16%	14.27%	15.68%	-13.31%	4.61%
ZPDW.DE State Street SPDR MSCI Japan EUR Hdg UCITS ETF	20.74%	27.50%	22.78%	33.59%	-5.96%	4.49%

Correlation

The correlation between AW1I.DE and ZPDW.DE is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (All Time) Calculated using the full available price history since Aug 6, 2021	0.81

The correlation between AW1I.DE and ZPDW.DE shifts across timeframes, from 0.81 (all time) to 0.92 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AW1I.DE vs. ZPDW.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AW1I.DE

AW1I.DE Risk / Return Rank: 80
AW1I.DE Sharpe Ratio Rank: 78
AW1I.DE Sortino Ratio Rank: 78
AW1I.DE Omega Ratio Rank: 78
AW1I.DE Calmar Ratio Rank: 85
AW1I.DE Martin Ratio Rank: 80

ZPDW.DE

ZPDW.DE Risk / Return Rank: 90
ZPDW.DE Sharpe Ratio Rank: 90
ZPDW.DE Sortino Ratio Rank: 89
ZPDW.DE Omega Ratio Rank: 88
ZPDW.DE Calmar Ratio Rank: 93
ZPDW.DE Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AW1I.DE vs. ZPDW.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) MSCI Japan ESG Universal Low Carbon Select UCITS ETF (JPY) Acc (AW1I.DE) and State Street SPDR MSCI Japan EUR Hdg UCITS ETF (ZPDW.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.

	AW1I.DE	ZPDW.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.98	2.40	-0.42
Sortino ratio: Return per unit of downside risk	2.81	3.33	-0.52
Omega ratio: Gain probability vs. loss probability	1.37	1.44	-0.07
Calmar ratio: Return relative to maximum drawdown	3.76	5.14	-1.37
Martin ratio: Return relative to average drawdown	12.20	16.99	-4.79

AW1I.DE vs. ZPDW.DE - Sharpe Ratio Comparison

The current AW1I.DE Sharpe Ratio is 1.98, which is comparable to the ZPDW.DE Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of AW1I.DE and ZPDW.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AW1I.DE vs. ZPDW.DE - Drawdown Comparison

The maximum AW1I.DE drawdown since its inception was -19.66%, smaller than the maximum ZPDW.DE drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for AW1I.DE and ZPDW.DE.

Drawdown Indicators

	AW1I.DE	ZPDW.DE	Difference
Max Drawdown Largest peak-to-trough decline	-19.66%	-34.37%	+14.71%
Max Drawdown (1Y) Largest decline over 1 year	-10.52%	-9.65%	-0.87%
Max Drawdown (3Y) Largest decline over 3 years	-17.12%	-21.70%	+4.58%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.37%	—
Current Drawdown Current decline from peak	-2.56%	-3.28%	+0.72%
Average Drawdown Average peak-to-trough decline	-6.47%	-7.47%	+1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	2.92%	+0.32%

Volatility

AW1I.DE vs. ZPDW.DE - Volatility Comparison

UBS ETF (IE) MSCI Japan ESG Universal Low Carbon Select UCITS ETF (JPY) Acc (AW1I.DE) and State Street SPDR MSCI Japan EUR Hdg UCITS ETF (ZPDW.DE) have volatilities of 6.50% and 6.74%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AW1I.DE	ZPDW.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.50%	6.74%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	16.04%	16.39%	-0.35%
Volatility (1Y) Calculated over the trailing 1-year period	20.00%	20.62%	-0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	18.81%	-1.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.89%	18.43%	-1.54%

AW1I.DE vs. ZPDW.DE - Expense Ratio Comparison

AW1I.DE has a 0.15% expense ratio, which is lower than ZPDW.DE's 0.17% 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

AW1I.DE vs. ZPDW.DE - Dividend Comparison

Neither AW1I.DE nor ZPDW.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AW1I.DE and ZPDW.DE in my portfolio?

With a correlation of 0.92, AW1I.DE and ZPDW.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, AW1I.DE or ZPDW.DE?

On fees, AW1I.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AW1I.DE or ZPDW.DE?

AW1I.DE is cheaper with a 0.15% expense ratio, compared with 0.17% for ZPDW.DE.

What is the main difference between AW1I.DE and ZPDW.DE?

AW1I.DE tracks MSCI Japan ESG Universal Low Carbon Select 5% Issuer Capped, while ZPDW.DE tracks MSCI Japan 100% Hedged to EUR Index. They also come from different issuers: UBS and State Street. Their fees differ too: 0.15% for AW1I.DE and 0.17% for ZPDW.DE.