IS0Z.DE vs. SPFU.DE
IS0Z.DE (iShares Global AAA-AA Government Bond UCITS ETF (Dist)) and SPFU.DE (State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist)) are both Global Bonds funds - IS0Z.DE tracks the Bloomberg Global Government AAA-AA Capped Bond while SPFU.DE tracks the Bloomberg Global Aggregate Bond Index (USD Hedged). Both are passively managed. Over the past 5 years, IS0Z.DE returned -2.47%/yr vs 1.09%/yr for SPFU.DE. A 0.52 correlation means they provide meaningful diversification when combined. IS0Z.DE charges 0.20%/yr vs 0.10%/yr for SPFU.DE.
Performance
IS0Z.DE vs. SPFU.DE - Performance Comparison
Loading charts...
Different Trading Currencies
IS0Z.DE is traded in EUR, while SPFU.DE is traded in USD. To make them comparable, the SPFU.DE values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IS0Z.DE achieves a 1.47% return, which is significantly lower than SPFU.DE's 3.28% return.
IS0Z.DE
- 1D
- 0.07%
- 1M
- -0.13%
- 6M
- 0.83%
- YTD
- 1.47%
- 1Y
- 1.99%
- 3Y*
- 1.63%
- 5Y*
- -2.47%
- 10Y*
- -0.80%
SPFU.DE
- 1D
- 0.17%
- 1M
- 0.06%
- 6M
- 1.82%
- YTD
- 3.28%
- 1Y
- 4.46%
- 3Y*
- 3.34%
- 5Y*
- 1.09%
- 10Y*
- —
IS0Z.DE vs. SPFU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 1.47% | -1.87% | 0.74% | 4.40% | -16.13% | -0.07% | 2.03% | 6.78% | 4.65% |
SPFU.DE State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist) | 3.28% | -7.07% | 9.27% | 3.57% | -6.07% | 6.92% | -4.09% | 10.41% | 11.46% |
Correlation
The correlation between IS0Z.DE and SPFU.DE is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2018 | 0.52 |
The correlation between IS0Z.DE and SPFU.DE shifts across timeframes, from 0.37 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IS0Z.DE vs. SPFU.DE — Risk / Return Rank
IS0Z.DE
SPFU.DE
IS0Z.DE vs. SPFU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.DE) and State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist) (SPFU.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.
| IS0Z.DE | SPFU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.14 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 1.00 | -0.21 |
| Martin ratioReturn relative to average drawdown | 1.84 | 2.78 | -0.94 |
Loading charts...
Drawdowns
IS0Z.DE vs. SPFU.DE - Drawdown Comparison
The maximum IS0Z.DE drawdown since its inception was -29.97%, which is greater than SPFU.DE's maximum drawdown of -11.78%. Use the drawdown chart below to compare losses from any high point for IS0Z.DE and SPFU.DE.
Loading charts...
Drawdown Indicators
| IS0Z.DE | SPFU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.97% | -11.78% | -18.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -4.43% | +1.93% |
Max Drawdown (3Y)Largest decline over 3 years | -5.11% | -10.96% | +5.85% |
Max Drawdown (5Y)Largest decline over 5 years | -19.64% | -11.67% | -7.97% |
Max Drawdown (10Y)Largest decline over 10 years | -23.71% | — | — |
Current DrawdownCurrent decline from peak | -20.12% | -5.73% | -14.39% |
Average DrawdownAverage peak-to-trough decline | -17.71% | -5.04% | -12.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.60% | -0.52% |
Volatility
IS0Z.DE vs. SPFU.DE - Volatility Comparison
The current volatility for iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.DE) is 1.16%, while State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist) (SPFU.DE) has a volatility of 1.40%. This indicates that IS0Z.DE experiences smaller price fluctuations and is considered to be less risky than SPFU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IS0Z.DE | SPFU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 1.40% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 4.40% | -1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.00% | 5.99% | -1.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.23% | 7.82% | -1.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.12% | 7.53% | +12.59% |
IS0Z.DE vs. SPFU.DE - Expense Ratio Comparison
IS0Z.DE has a 0.20% expense ratio, which is higher than SPFU.DE's 0.10% 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
IS0Z.DE vs. SPFU.DE - Dividend Comparison
IS0Z.DE's dividend yield for the trailing twelve months is around 2.66%, less than SPFU.DE's 3.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 2.66% | 2.51% | 2.30% | 1.57% | 0.80% | 0.47% | 0.62% | 0.88% | 0.90% | 0.82% | 0.84% | 1.06% |
SPFU.DE State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist) | 3.15% | 3.03% | 2.73% | 2.02% | 1.41% | 1.22% | 1.51% | 1.25% | 0.89% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IS0Z.DE and SPFU.DE have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPFU.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPFU.DE is cheaper with a 0.10% expense ratio, compared with 0.20% for IS0Z.DE.
IS0Z.DE tracks Bloomberg Global Government AAA-AA Capped Bond, while SPFU.DE tracks Bloomberg Global Aggregate Bond Index (USD Hedged). They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for IS0Z.DE and 0.10% for SPFU.DE.
Find the right allocation for IS0Z.DE and SPFU.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer