EXHD.DE vs. ZPRX.DE
EXHD.DE (iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE)) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - EXHD.DE is a European Government Bonds fund tracking the eb.rexx® Government Germany 5.5-10.5, while ZPRX.DE is a Europe Equities fund tracking the MSCI Europe Small Cap Value Weighted. Both are passively managed. Over the past 10 years, EXHD.DE returned -1.06%/yr vs 8.15%/yr for ZPRX.DE. At a correlation of -0.08, they often move in opposite directions. EXHD.DE charges 0.16%/yr vs 0.30%/yr for ZPRX.DE.
Performance
EXHD.DE vs. ZPRX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EXHD.DE achieves a -0.51% return, which is significantly lower than ZPRX.DE's 7.81% return. Over the past 10 years, EXHD.DE has underperformed ZPRX.DE with an annualized return of -1.06%, while ZPRX.DE has yielded a comparatively higher 8.15% annualized return.
EXHD.DE
- 1D
- 0.17%
- 1M
- -0.45%
- YTD
- -0.51%
- 6M
- -0.74%
- 1Y
- -0.85%
- 3Y*
- 1.05%
- 5Y*
- -2.82%
- 10Y*
- -1.06%
ZPRX.DE
- 1D
- 0.33%
- 1M
- 1.27%
- YTD
- 7.81%
- 6M
- 10.93%
- 1Y
- 17.80%
- 3Y*
- 15.09%
- 5Y*
- 7.77%
- 10Y*
- 8.15%
EXHD.DE vs. ZPRX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EXHD.DE iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE) | -0.51% | -0.38% | -0.04% | 6.26% | -17.27% | -2.39% | 2.08% | 2.53% | 2.35% | -1.12% |
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 7.81% | 26.81% | 4.28% | 15.28% | -13.52% | 27.58% | -3.52% | 29.02% | -19.20% | 12.89% |
Correlation
The correlation between EXHD.DE and ZPRX.DE is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2015 | -0.08 |
The correlation between EXHD.DE and ZPRX.DE shifts across timeframes, from -0.08 (all time) to 0.36 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EXHD.DE vs. ZPRX.DE — Risk / Return Rank
EXHD.DE
ZPRX.DE
EXHD.DE vs. ZPRX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE) (EXHD.DE) and SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.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.
| EXHD.DE | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -2.21 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.22 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 1.47 | -1.82 |
| Martin ratioReturn relative to average drawdown | -0.91 | 5.42 | -6.33 |
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
| EXHD.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.31 | 1.23 | -1.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | 0.46 | -0.90 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.20 | 0.45 | -0.65 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.39 | -0.06 |
Drawdowns
EXHD.DE vs. ZPRX.DE - Drawdown Comparison
The maximum EXHD.DE drawdown since its inception was -22.41%, smaller than the maximum ZPRX.DE drawdown of -43.93%. Use the drawdown chart below to compare losses from any high point for EXHD.DE and ZPRX.DE.
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Drawdown Indicators
| EXHD.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.41% | -43.93% | +21.52% |
Max Drawdown (1Y)Largest decline over 1 year | -3.79% | -11.63% | +7.84% |
Max Drawdown (3Y)Largest decline over 3 years | -4.84% | -15.95% | +11.11% |
Max Drawdown (5Y)Largest decline over 5 years | -20.34% | -27.52% | +7.18% |
Max Drawdown (10Y)Largest decline over 10 years | -22.41% | -43.93% | +21.52% |
Current DrawdownCurrent decline from peak | -17.09% | -1.51% | -15.58% |
Average DrawdownAverage peak-to-trough decline | -5.58% | -7.71% | +2.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.48% | 3.16% | -1.68% |
Volatility
EXHD.DE vs. ZPRX.DE - Volatility Comparison
The current volatility for iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE) (EXHD.DE) is 1.99%, while SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) has a volatility of 4.17%. This indicates that EXHD.DE experiences smaller price fluctuations and is considered to be less risky than ZPRX.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXHD.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 4.17% | -2.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 11.30% | -7.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.30% | 13.94% | -9.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.35% | 16.69% | -10.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.16% | 18.14% | -12.98% |
EXHD.DE vs. ZPRX.DE - Expense Ratio Comparison
EXHD.DE has a 0.16% expense ratio, which is lower than ZPRX.DE's 0.30% expense ratio.
Dividends
EXHD.DE vs. ZPRX.DE - Dividend Comparison
EXHD.DE's dividend yield for the trailing twelve months is around 1.37%, while ZPRX.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXHD.DE iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE) | 1.37% | 1.73% | 1.44% | 0.88% | 1.26% | 1.35% | 1.01% | 0.96% | 1.00% | 1.26% | 1.40% | 1.77% |
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted 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
EXHD.DE and ZPRX.DE have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EXHD.DE is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EXHD.DE is cheaper with a 0.16% expense ratio, compared with 0.30% for ZPRX.DE.
EXHD.DE is categorized as European Government Bonds, while ZPRX.DE is Europe Equities. EXHD.DE tracks eb.rexx® Government Germany 5.5-10.5, while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted. They also come from different issuers: iShares and State Street. Their fees differ too: 0.16% for EXHD.DE and 0.30% for ZPRX.DE.
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