SPF2.DE vs. ZPRV.DE
SPF2.DE (SPDR FTSE Global Convertible Bond USD Hedged UCITS ETF (Dist)) and ZPRV.DE (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - SPF2.DE is a Convertible Bonds fund tracking the FTSE Qualified Global Convertible 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 3 years, SPF2.DE returned 20.03%/yr vs 19.75%/yr for ZPRV.DE. A 0.62 correlation means they provide meaningful diversification when combined. SPF2.DE charges 0.50%/yr vs 0.30%/yr for ZPRV.DE.
Performance
SPF2.DE vs. ZPRV.DE - Performance Comparison
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Different Trading Currencies
SPF2.DE 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, SPF2.DE achieves a 18.47% return, which is significantly higher than ZPRV.DE's 13.26% return.
SPF2.DE
- 1D
- -0.10%
- 1M
- 5.24%
- YTD
- 18.47%
- 6M
- 21.41%
- 1Y
- 37.65%
- 3Y*
- 20.03%
- 5Y*
- —
- 10Y*
- —
ZPRV.DE
- 1D
- 0.90%
- 1M
- 1.56%
- YTD
- 13.26%
- 6M
- 14.32%
- 1Y
- 36.73%
- 3Y*
- 19.75%
- 5Y*
- 9.64%
- 10Y*
- 11.88%
SPF2.DE vs. ZPRV.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPF2.DE SPDR FTSE Global Convertible Bond USD Hedged UCITS ETF (Dist) | 18.47% | 23.43% | 10.05% | 14.59% | -13.22% |
ZPRV.DE SPDR MSCI USA Small Cap Value Weighted UCITS ETF | 13.26% | 16.27% | 7.55% | 22.88% | -7.41% |
Correlation
The correlation between SPF2.DE and ZPRV.DE is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2022 | 0.62 |
The correlation between SPF2.DE and ZPRV.DE shifts across timeframes, from 0.48 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPF2.DE vs. ZPRV.DE — Risk / Return Rank
SPF2.DE
ZPRV.DE
SPF2.DE vs. ZPRV.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR FTSE Global Convertible Bond USD Hedged UCITS ETF (Dist) (SPF2.DE) 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.
| SPF2.DE | ZPRV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.39 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 5.87 | 4.55 | +1.31 |
| Martin ratioReturn relative to average drawdown | 25.25 | 14.36 | +10.90 |
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
| SPF2.DE | ZPRV.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.36 | 2.29 | +1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.45 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.53 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.12 | 0.48 | +0.64 |
Drawdowns
SPF2.DE vs. ZPRV.DE - Drawdown Comparison
The maximum SPF2.DE drawdown since its inception was -16.29%, smaller than the maximum ZPRV.DE drawdown of -49.34%. Use the drawdown chart below to compare losses from any high point for SPF2.DE and ZPRV.DE.
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Drawdown Indicators
| SPF2.DE | ZPRV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.29% | -49.34% | +33.05% |
Max Drawdown (1Y)Largest decline over 1 year | -6.39% | -8.03% | +1.64% |
Max Drawdown (3Y)Largest decline over 3 years | -8.21% | -28.19% | +19.98% |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.19% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.34% | — |
Current DrawdownCurrent decline from peak | -0.10% | 0.00% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -7.83% | +3.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.49% | 2.55% | -1.06% |
Volatility
SPF2.DE vs. ZPRV.DE - Volatility Comparison
SPDR FTSE Global Convertible Bond USD Hedged UCITS ETF (Dist) (SPF2.DE) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (ZPRV.DE) have volatilities of 4.12% and 3.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPF2.DE | ZPRV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.12% | 3.97% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 9.23% | 9.84% | -0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.16% | 16.00% | -4.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.14% | 21.32% | -11.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.14% | 23.02% | -12.88% |
SPF2.DE vs. ZPRV.DE - Expense Ratio Comparison
SPF2.DE has a 0.50% expense ratio, which is higher than ZPRV.DE's 0.30% expense ratio.
Dividends
SPF2.DE vs. ZPRV.DE - Dividend Comparison
SPF2.DE's dividend yield for the trailing twelve months is around 0.53%, while ZPRV.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
SPF2.DE SPDR FTSE Global Convertible Bond USD Hedged UCITS ETF (Dist) | 0.53% | 0.60% | 0.43% | 0.25% |
ZPRV.DE SPDR MSCI USA Small Cap Value Weighted UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPF2.DE and ZPRV.DE have a correlation of 0.48, 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 0.50% for SPF2.DE.
SPF2.DE is categorized as Convertible Bonds, while ZPRV.DE is Small Cap Value Equities. SPF2.DE tracks FTSE Qualified Global Convertible Index, while ZPRV.DE tracks MSCI USA Small Cap Value Weighted Index. Their fees differ too: 0.50% for SPF2.DE and 0.30% for ZPRV.DE.
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