HYG vs. ZPRV.DE
HYG (iShares iBoxx $ High Yield Corporate Bond ETF) and ZPRV.DE (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index, while ZPRV.DE is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index. Both are passively managed. Over the past 10 years, HYG returned 5.03%/yr vs 12.40%/yr for ZPRV.DE. At a 0.45 correlation, their price movements are largely independent. HYG charges 0.49%/yr vs 0.30%/yr for ZPRV.DE.
Performance
HYG vs. ZPRV.DE - Performance Comparison
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Different Trading Currencies
HYG is traded in USD, while ZPRV.DE is traded in EUR. To make them comparable, the ZPRV.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HYG achieves a 1.78% return, which is significantly lower than ZPRV.DE's 16.36% return. Over the past 10 years, HYG has underperformed ZPRV.DE with an annualized return of 5.03%, while ZPRV.DE has yielded a comparatively higher 12.40% annualized return.
HYG
- 1D
- 0.13%
- 1M
- 1.25%
- YTD
- 1.78%
- 6M
- 2.29%
- 1Y
- 6.95%
- 3Y*
- 8.47%
- 5Y*
- 3.83%
- 10Y*
- 5.03%
ZPRV.DE
- 1D
- 0.11%
- 1M
- 6.73%
- YTD
- 16.36%
- 6M
- 15.80%
- 1Y
- 38.40%
- 3Y*
- 19.10%
- 5Y*
- 10.36%
- 10Y*
- 12.40%
HYG vs. ZPRV.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.78% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
ZPRV.DE SPDR MSCI USA Small Cap Value Weighted UCITS ETF | 16.36% | 16.27% | 7.55% | 22.88% | -10.61% | 36.53% | 7.72% | 24.71% | -15.92% | 9.86% |
Correlation
The correlation between HYG and ZPRV.DE is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015 | 0.45 |
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Return for Risk
HYG vs. ZPRV.DE — Risk / Return Rank
HYG
ZPRV.DE
HYG vs. ZPRV.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (ZPRV.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.
| HYG | ZPRV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.41 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 4.76 | -1.78 |
| Martin ratioReturn relative to average drawdown | 13.11 | 15.13 | -2.02 |
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Drawdowns
HYG vs. ZPRV.DE - Drawdown Comparison
The maximum HYG drawdown since its inception was -34.25%, smaller than the maximum ZPRV.DE drawdown of -49.35%. Use the drawdown chart below to compare losses from any high point for HYG and ZPRV.DE.
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Drawdown Indicators
| HYG | ZPRV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.25% | -49.35% | +15.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.34% | -8.03% | +5.69% |
Max Drawdown (3Y)Largest decline over 3 years | -4.56% | -28.19% | +23.63% |
Max Drawdown (5Y)Largest decline over 5 years | -15.79% | -28.19% | +12.40% |
Max Drawdown (10Y)Largest decline over 10 years | -22.03% | -49.35% | +27.32% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.24% | -9.43% | +6.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 2.53% | -2.00% |
Volatility
HYG vs. ZPRV.DE - Volatility Comparison
The current volatility for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) is 1.31%, while SPDR MSCI USA Small Cap Value Weighted UCITS ETF (ZPRV.DE) has a volatility of 3.38%. This indicates that HYG experiences smaller price fluctuations and is considered to be less risky than ZPRV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYG | ZPRV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 3.38% | -2.07% |
Volatility (6M)Calculated over the trailing 6-month period | 3.08% | 10.06% | -6.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 16.06% | -12.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.53% | 21.32% | -13.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.29% | 23.30% | -15.01% |
HYG vs. ZPRV.DE - Expense Ratio Comparison
HYG has a 0.49% expense ratio, which is higher than ZPRV.DE's 0.30% expense ratio.
Dividends
HYG vs. ZPRV.DE - Dividend Comparison
HYG's dividend yield for the trailing twelve months is around 5.89%, while ZPRV.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.89% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
ZPRV.DE SPDR MSCI USA 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
HYG and ZPRV.DE have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPRV.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPRV.DE is cheaper with a 0.30% expense ratio, compared with 0.49% for HYG.
HYG is categorized as High Yield Bonds, while ZPRV.DE is Small Cap Value Equities. HYG tracks Markit iBoxx USD Liquid High Yield Index, while ZPRV.DE tracks MSCI USA Small Cap Value Weighted Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.49% for HYG and 0.30% for ZPRV.DE.
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