SPFA.DE vs. ZPR6.DE
SPFA.DE (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) and ZPR6.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc) are both Emerging Markets Bonds funds from State Street - SPFA.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond while ZPR6.DE tracks the ICE BofAML 0-5 EM USD Government Bond (EUR Hedged). Both are passively managed. Over the past 5 years, SPFA.DE returned 1.46%/yr vs 0.23%/yr for ZPR6.DE. At a 0.25 correlation, their price movements are largely independent. SPFA.DE charges 0.55%/yr vs 0.47%/yr for ZPR6.DE.
Performance
SPFA.DE vs. ZPR6.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPFA.DE achieves a 0.46% return, which is significantly higher than ZPR6.DE's 0.15% return.
SPFA.DE
- 1D
- -0.01%
- 1M
- 0.39%
- YTD
- 0.46%
- 6M
- 0.45%
- 1Y
- 3.30%
- 3Y*
- 2.58%
- 5Y*
- 1.46%
- 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*
- —
SPFA.DE vs. ZPR6.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPFA.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 0.46% | 2.44% | 3.19% | 5.66% | -4.47% | -1.04% | -5.66% | 5.99% |
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% | 0.69% | -0.12% |
Correlation
The correlation between SPFA.DE and ZPR6.DE is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2019 | 0.25 |
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Return for Risk
SPFA.DE vs. ZPR6.DE — Risk / Return Rank
SPFA.DE
ZPR6.DE
SPFA.DE vs. ZPR6.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.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.
| SPFA.DE | ZPR6.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.25 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 1.74 | -0.91 |
| Martin ratioReturn relative to average drawdown | 2.62 | 7.22 | -4.60 |
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
| SPFA.DE | ZPR6.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | 1.26 | -0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.05 | +0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.07 | +0.19 |
Drawdowns
SPFA.DE vs. ZPR6.DE - Drawdown Comparison
The maximum SPFA.DE drawdown since its inception was -16.39%, 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 SPFA.DE and ZPR6.DE.
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Drawdown Indicators
| SPFA.DE | ZPR6.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.39% | -13.50% | -2.89% |
Max Drawdown (1Y)Largest decline over 1 year | -3.96% | -1.80% | -2.16% |
Max Drawdown (3Y)Largest decline over 3 years | -7.66% | -1.80% | -5.86% |
Max Drawdown (5Y)Largest decline over 5 years | -8.51% | -13.50% | +4.99% |
Current DrawdownCurrent decline from peak | -3.19% | -0.37% | -2.82% |
Average DrawdownAverage peak-to-trough decline | -7.62% | -4.62% | -3.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 0.43% | +0.83% |
Volatility
SPFA.DE vs. ZPR6.DE - Volatility Comparison
SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.DE) has a higher volatility of 1.83% 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 SPFA.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
| SPFA.DE | ZPR6.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 0.61% | +1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 4.51% | 2.11% | +2.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.31% | 2.48% | +2.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.24% | 4.41% | +1.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.05% | 5.13% | +1.92% |
SPFA.DE vs. ZPR6.DE - Expense Ratio Comparison
SPFA.DE has a 0.55% expense ratio, which is higher than ZPR6.DE's 0.47% expense ratio.
Dividends
SPFA.DE vs. ZPR6.DE - Dividend Comparison
Neither SPFA.DE nor ZPR6.DE has paid dividends to shareholders.
Frequently Asked Questions
SPFA.DE and ZPR6.DE have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPR6.DE is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPR6.DE is cheaper with a 0.47% expense ratio, compared with 0.55% for SPFA.DE.
SPFA.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond, while ZPR6.DE tracks ICE BofAML 0-5 EM USD Government Bond (EUR Hedged). Their fees differ too: 0.55% for SPFA.DE and 0.47% for ZPR6.DE.
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