IS02.DE vs. ZPR6.DE
IS02.DE (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)) and ZPR6.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc) are both Emerging Markets Bonds funds - IS02.DE tracks the JP Morgan EMBI Global Core while ZPR6.DE tracks the ICE BofAML 0-5 EM USD Government Bond (EUR Hedged). Both are passively managed. Over the past 5 years, IS02.DE returned 2.88%/yr vs 0.23%/yr for ZPR6.DE. At a 0.45 correlation, their price movements are largely independent. IS02.DE charges 0.45%/yr vs 0.47%/yr for ZPR6.DE.
Performance
IS02.DE vs. ZPR6.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS02.DE achieves a 2.97% return, which is significantly higher than ZPR6.DE's 0.15% return.
IS02.DE
- 1D
- 0.11%
- 1M
- 1.71%
- YTD
- 2.97%
- 6M
- 2.72%
- 1Y
- 9.38%
- 3Y*
- 6.78%
- 5Y*
- 2.88%
- 10Y*
- —
ZPR6.DE
- 1D
- 0.04%
- 1M
- -0.09%
- YTD
- 0.15%
- 6M
- 0.47%
- 1Y
- 3.13%
- 3Y*
- 4.05%
- 5Y*
- 0.23%
- 10Y*
- —
IS02.DE vs. ZPR6.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IS02.DE iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) | 2.97% | 1.10% | 11.83% | 6.71% | -13.12% | 5.72% | 0.08% |
ZPR6.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc | 0.15% | 5.62% | 3.09% | 3.99% | -9.09% | -1.17% | 1.90% |
Correlation
The correlation between IS02.DE and ZPR6.DE is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Aug 17, 2020 | 0.45 |
The correlation between IS02.DE and ZPR6.DE shifts across timeframes, from 0.31 (1 year) to 0.47 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IS02.DE vs. ZPR6.DE — Risk / Return Rank
IS02.DE
ZPR6.DE
IS02.DE vs. ZPR6.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (IS02.DE) and SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc (ZPR6.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.
| IS02.DE | ZPR6.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.25 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 1.74 | +1.37 |
| Martin ratioReturn relative to average drawdown | 8.98 | 7.22 | +1.76 |
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
| IS02.DE | ZPR6.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 1.26 | +0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.05 | +0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.07 | +0.21 |
Drawdowns
IS02.DE vs. ZPR6.DE - Drawdown Comparison
The maximum IS02.DE drawdown since its inception was -16.21%, which is greater than ZPR6.DE's maximum drawdown of -13.50%. Use the drawdown chart below to compare losses from any high point for IS02.DE and ZPR6.DE.
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Drawdown Indicators
| IS02.DE | ZPR6.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.21% | -13.50% | -2.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.00% | -1.80% | -1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -12.85% | -1.80% | -11.05% |
Max Drawdown (5Y)Largest decline over 5 years | -16.21% | -13.50% | -2.71% |
Current DrawdownCurrent decline from peak | 0.00% | -0.37% | +0.37% |
Average DrawdownAverage peak-to-trough decline | -5.92% | -4.62% | -1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.43% | +0.61% |
Volatility
IS02.DE vs. ZPR6.DE - Volatility Comparison
iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (IS02.DE) has a higher volatility of 1.19% compared to SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc (ZPR6.DE) at 0.61%. This indicates that IS02.DE's price experiences larger fluctuations and is considered to be riskier than ZPR6.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS02.DE | ZPR6.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 0.61% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 3.97% | 2.11% | +1.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.94% | 2.48% | +3.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.53% | 4.41% | +4.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.34% | 5.13% | +3.21% |
IS02.DE vs. ZPR6.DE - Expense Ratio Comparison
IS02.DE has a 0.45% expense ratio, which is lower than ZPR6.DE's 0.47% expense ratio.
Dividends
IS02.DE vs. ZPR6.DE - Dividend Comparison
Neither IS02.DE nor ZPR6.DE has paid dividends to shareholders.
Frequently Asked Questions
IS02.DE and ZPR6.DE have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS02.DE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS02.DE is cheaper with a 0.45% expense ratio, compared with 0.47% for ZPR6.DE.
IS02.DE tracks JP Morgan EMBI Global Core, while ZPR6.DE tracks ICE BofAML 0-5 EM USD Government Bond (EUR Hedged). They also come from different issuers: iShares and State Street. Their fees differ too: 0.45% for IS02.DE and 0.47% for ZPR6.DE.
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