JRJE.L vs. ZPRX.DE
JRJE.L (JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - JRJE.L is a Japan Equities fund tracking the TOPIX TR JPY, while ZPRX.DE is a Europe Equities fund tracking the MSCI Europe Small Cap Value Weighted. Both are passively managed. Over the past 3 years, JRJE.L returned 17.56%/yr vs 15.98%/yr for ZPRX.DE. At a 0.43 correlation, their price movements are largely independent. JRJE.L charges 0.25%/yr vs 0.30%/yr for ZPRX.DE.
Performance
JRJE.L vs. ZPRX.DE - Performance Comparison
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Different Trading Currencies
JRJE.L is traded in GBp, while ZPRX.DE is traded in EUR. To make them comparable, the ZPRX.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, JRJE.L achieves a 19.44% return, which is significantly higher than ZPRX.DE's 5.57% return.
JRJE.L
- 1D
- 0.50%
- 1M
- 3.52%
- YTD
- 19.44%
- 6M
- 19.65%
- 1Y
- 39.05%
- 3Y*
- 17.56%
- 5Y*
- —
- 10Y*
- —
ZPRX.DE
- 1D
- 0.08%
- 1M
- -1.76%
- YTD
- 5.57%
- 6M
- 7.17%
- 1Y
- 18.57%
- 3Y*
- 15.98%
- 5Y*
- 8.18%
- 10Y*
- 10.06%
JRJE.L vs. ZPRX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JRJE.L JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) | 19.44% | 15.91% | 9.56% | 13.90% | -0.96% |
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 5.57% | 33.41% | -0.25% | 12.96% | -5.17% |
Correlation
The correlation between JRJE.L and ZPRX.DE is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.43 |
The correlation between JRJE.L and ZPRX.DE shifts across timeframes, from 0.43 (all time) to 0.54 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JRJE.L vs. ZPRX.DE — Risk / Return Rank
JRJE.L
ZPRX.DE
JRJE.L vs. ZPRX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRJE.L) 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.
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.
| JRJE.L | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.24 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 1.50 | +2.16 |
| Martin ratioReturn relative to average drawdown | 11.59 | 5.43 | +6.16 |
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Drawdowns
JRJE.L vs. ZPRX.DE - Drawdown Comparison
The maximum JRJE.L drawdown since its inception was -14.26%, smaller than the maximum ZPRX.DE drawdown of -39.68%. Use the drawdown chart below to compare losses from any high point for JRJE.L and ZPRX.DE.
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Drawdown Indicators
| JRJE.L | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.26% | -39.68% | +25.42% |
Max Drawdown (1Y)Largest decline over 1 year | -10.63% | -12.35% | +1.72% |
Max Drawdown (3Y)Largest decline over 3 years | -14.26% | -14.77% | +0.51% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.08% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.68% | — |
Current DrawdownCurrent decline from peak | -3.07% | -2.44% | -0.63% |
Average DrawdownAverage peak-to-trough decline | -3.25% | -6.56% | +3.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 3.41% | -0.05% |
Volatility
JRJE.L vs. ZPRX.DE - Volatility Comparison
JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRJE.L) has a higher volatility of 6.50% compared to SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) at 3.29%. This indicates that JRJE.L's price experiences larger fluctuations and is considered to be riskier 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
| JRJE.L | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.50% | 3.29% | +3.21% |
Volatility (6M)Calculated over the trailing 6-month period | 15.58% | 11.36% | +4.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.93% | 13.67% | +5.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.20% | 16.56% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.20% | 17.22% | -1.02% |
JRJE.L vs. ZPRX.DE - Expense Ratio Comparison
JRJE.L has a 0.25% expense ratio, which is lower than ZPRX.DE's 0.30% expense ratio.
Dividends
JRJE.L vs. ZPRX.DE - Dividend Comparison
Neither JRJE.L nor ZPRX.DE has paid dividends to shareholders.
Frequently Asked Questions
JRJE.L and ZPRX.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JRJE.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JRJE.L is cheaper with a 0.25% expense ratio, compared with 0.30% for ZPRX.DE.
JRJE.L is categorized as Japan Equities, while ZPRX.DE is Europe Equities. JRJE.L tracks TOPIX TR JPY, while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted. They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.25% for JRJE.L and 0.30% for ZPRX.DE.
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