SPFA.DE vs. ZPRX.DE
SPFA.DE (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - SPFA.DE is a Emerging Markets Bonds fund tracking the Bloomberg Emerging Markets Local Currency Liquid Government Bond, while ZPRX.DE is a Europe Equities fund tracking the MSCI Europe Small Cap Value Weighted. Both are passively managed. Over the past 5 years, SPFA.DE returned 1.46%/yr vs 7.77%/yr for ZPRX.DE. At a 0.30 correlation, their price movements are largely independent. SPFA.DE charges 0.55%/yr vs 0.30%/yr for ZPRX.DE.
Performance
SPFA.DE vs. ZPRX.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 lower than ZPRX.DE's 7.81% 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*
- —
ZPRX.DE
- 1D
- 0.33%
- 1M
- 3.14%
- YTD
- 7.81%
- 6M
- 11.48%
- 1Y
- 17.16%
- 3Y*
- 15.09%
- 5Y*
- 7.77%
- 10Y*
- 8.15%
SPFA.DE vs. ZPRX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPFA.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 0.46% | 2.44% | 3.19% | 5.66% | -4.47% | -1.04% | -5.66% | 14.72% | 0.62% |
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 7.81% | 26.81% | 4.28% | 15.28% | -13.52% | 27.58% | -3.52% | 29.02% | -19.04% |
Correlation
The correlation between SPFA.DE and ZPRX.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 | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2018 | 0.30 |
The correlation between SPFA.DE and ZPRX.DE shifts across timeframes, from 0.25 (5 years) to 0.48 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPFA.DE vs. ZPRX.DE — Risk / Return Rank
SPFA.DE
ZPRX.DE
SPFA.DE vs. ZPRX.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 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.
| SPFA.DE | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.22 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 1.47 | -0.64 |
| Martin ratioReturn relative to average drawdown | 2.62 | 5.42 | -2.80 |
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 | ZPRX.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | 1.23 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.46 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.39 | -0.13 |
Drawdowns
SPFA.DE vs. ZPRX.DE - Drawdown Comparison
The maximum SPFA.DE drawdown since its inception was -16.39%, smaller than the maximum ZPRX.DE drawdown of -43.93%. Use the drawdown chart below to compare losses from any high point for SPFA.DE and ZPRX.DE.
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Drawdown Indicators
| SPFA.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.39% | -43.93% | +27.54% |
Max Drawdown (1Y)Largest decline over 1 year | -3.96% | -11.63% | +7.67% |
Max Drawdown (3Y)Largest decline over 3 years | -7.66% | -15.95% | +8.29% |
Max Drawdown (5Y)Largest decline over 5 years | -8.51% | -27.52% | +19.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.93% | — |
Current DrawdownCurrent decline from peak | -3.19% | -1.51% | -1.68% |
Average DrawdownAverage peak-to-trough decline | -7.62% | -7.71% | +0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 3.16% | -1.90% |
Volatility
SPFA.DE vs. ZPRX.DE - Volatility Comparison
The current volatility for SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.DE) is 1.83%, while SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) has a volatility of 4.17%. This indicates that SPFA.DE experiences smaller price fluctuations and is considered to be less risky 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
| SPFA.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 4.17% | -2.34% |
Volatility (6M)Calculated over the trailing 6-month period | 4.51% | 11.30% | -6.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.31% | 13.94% | -8.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.24% | 16.69% | -10.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.05% | 18.14% | -11.09% |
SPFA.DE vs. ZPRX.DE - Expense Ratio Comparison
SPFA.DE has a 0.55% expense ratio, which is higher than ZPRX.DE's 0.30% expense ratio.
Dividends
SPFA.DE vs. ZPRX.DE - Dividend Comparison
Neither SPFA.DE nor ZPRX.DE has paid dividends to shareholders.
Frequently Asked Questions
SPFA.DE and ZPRX.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, ZPRX.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPRX.DE is cheaper with a 0.30% expense ratio, compared with 0.55% for SPFA.DE.
SPFA.DE is categorized as Emerging Markets Bonds, while ZPRX.DE is Europe Equities. SPFA.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond, while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted. Their fees differ too: 0.55% for SPFA.DE and 0.30% for ZPRX.DE.
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