EL45.DE vs. ZPDW.DE
EL45.DE (Deka MSCI Japan Climate Change ESG CTB UCITS ETF) and ZPDW.DE (State Street SPDR MSCI Japan EUR Hdg UCITS ETF) are both Japan Equities funds - EL45.DE tracks the MSCI Japan Climate Change ESG Select CTB Index while ZPDW.DE tracks the MSCI Japan 100% Hedged to EUR Index. Both are passively managed. Over the past 10 years, EL45.DE returned 383.57%/yr vs 14.41%/yr for ZPDW.DE. A 0.67 correlation means they provide meaningful diversification when combined. EL45.DE charges 0.26%/yr vs 0.17%/yr for ZPDW.DE.
Performance
EL45.DE vs. ZPDW.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL45.DE achieves a 15.53% return, which is significantly lower than ZPDW.DE's 20.74% return. Over the past 10 years, EL45.DE has outperformed ZPDW.DE with an annualized return of 383.57%, while ZPDW.DE has yielded a comparatively lower 14.41% annualized return.
EL45.DE
- 1D
- -1.72%
- 1M
- -0.71%
- 6M
- 10.63%
- YTD
- 15.53%
- 1Y
- 31.86%
- 3Y*
- 14.27%
- 5Y*
- 7.46%
- 10Y*
- 383.57%
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%
EL45.DE vs. ZPDW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL45.DE Deka MSCI Japan Climate Change ESG CTB UCITS ETF | 15.53% | 10.57% | 11.51% | 12.77% | -14.83% | 9.65% | 491,262.69% | 840.15% | 41.10% | 6,472.17% |
ZPDW.DE State Street SPDR MSCI Japan EUR Hdg UCITS ETF | 20.74% | 27.50% | 22.78% | 33.59% | -5.96% | 12.63% | 7.91% | 16.59% | -16.65% | 19.02% |
Correlation
The correlation between EL45.DE and ZPDW.DE is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2015 | 0.67 |
Over the past year, EL45.DE and ZPDW.DE have become more correlated (0.90) than their long-term average of 0.67, meaning their price movements have been converging.
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Return for Risk
EL45.DE vs. ZPDW.DE — Risk / Return Rank
EL45.DE
ZPDW.DE
EL45.DE vs. ZPDW.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka MSCI Japan Climate Change ESG CTB UCITS ETF (EL45.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.
| EL45.DE | ZPDW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.44 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 5.14 | -2.26 |
| Martin ratioReturn relative to average drawdown | 9.57 | 16.99 | -7.42 |
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Drawdowns
EL45.DE vs. ZPDW.DE - Drawdown Comparison
The maximum EL45.DE drawdown since its inception was -23.54%, smaller than the maximum ZPDW.DE drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for EL45.DE and ZPDW.DE.
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Drawdown Indicators
| EL45.DE | ZPDW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.54% | -34.37% | +10.83% |
Max Drawdown (1Y)Largest decline over 1 year | -11.55% | -9.65% | -1.90% |
Max Drawdown (3Y)Largest decline over 3 years | -16.76% | -21.70% | +4.94% |
Max Drawdown (5Y)Largest decline over 5 years | -21.28% | -21.70% | +0.42% |
Max Drawdown (10Y)Largest decline over 10 years | -22.36% | -34.37% | +12.01% |
Current DrawdownCurrent decline from peak | -5.46% | -3.28% | -2.18% |
Average DrawdownAverage peak-to-trough decline | -5.86% | -7.47% | +1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.47% | 2.92% | +0.55% |
Volatility
EL45.DE vs. ZPDW.DE - Volatility Comparison
Deka MSCI Japan Climate Change ESG CTB UCITS ETF (EL45.DE) has a higher volatility of 7.50% compared to State Street SPDR MSCI Japan EUR Hdg UCITS ETF (ZPDW.DE) at 6.74%. This indicates that EL45.DE's price experiences larger fluctuations and is considered to be riskier than ZPDW.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL45.DE | ZPDW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.50% | 6.74% | +0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 16.07% | 16.39% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.84% | 20.62% | -0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.83% | 18.81% | -1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21,842.13% | 18.43% | +21,823.70% |
EL45.DE vs. ZPDW.DE - Expense Ratio Comparison
EL45.DE has a 0.26% expense ratio, which is higher than ZPDW.DE's 0.17% 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
EL45.DE vs. ZPDW.DE - Dividend Comparison
EL45.DE's dividend yield for the trailing twelve months is around 1.46%, while ZPDW.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL45.DE Deka MSCI Japan Climate Change ESG CTB UCITS ETF | 1.46% | 1.77% | 1.49% | 1.64% | 1.95% | 2.07% | 165.19% | 81.94% | 42.51% | 159.77% | 62.28% | 103.93% |
ZPDW.DE State Street SPDR MSCI Japan EUR Hdg UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EL45.DE and ZPDW.DE have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPDW.DE is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPDW.DE is cheaper with a 0.17% expense ratio, compared with 0.26% for EL45.DE.
EL45.DE tracks MSCI Japan Climate Change ESG Select CTB Index, while ZPDW.DE tracks MSCI Japan 100% Hedged to EUR Index. They also come from different issuers: Deka and State Street. Their fees differ too: 0.26% for EL45.DE and 0.17% for ZPDW.DE.
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