SPFD.DE vs. ZPRX.DE
SPFD.DE (State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc)) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - SPFD.DE is a Emerging Markets Bonds fund tracking the Bloomberg Emerging Markets Local Currency Liquid Government Bond Index (EUR Hedged), 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, SPFD.DE returned -1.83%/yr vs 7.77%/yr for ZPRX.DE. At a 0.41 correlation, their price movements are largely independent. SPFD.DE charges 0.60%/yr vs 0.30%/yr for ZPRX.DE.
Performance
SPFD.DE vs. ZPRX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPFD.DE achieves a -1.76% return, which is significantly lower than ZPRX.DE's 7.81% return.
SPFD.DE
- 1D
- 0.08%
- 1M
- -0.48%
- YTD
- -1.76%
- 6M
- -1.05%
- 1Y
- 2.41%
- 3Y*
- 2.99%
- 5Y*
- -1.83%
- 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%
SPFD.DE vs. ZPRX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPFD.DE State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) | -1.76% | 12.45% | -4.39% | 6.63% | -12.77% | -9.84% | 2.14% | 2.12% |
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% | 5.91% |
Correlation
The correlation between SPFD.DE and ZPRX.DE is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2019 | 0.41 |
The correlation between SPFD.DE and ZPRX.DE shifts across timeframes, from 0.41 (all time) to 0.57 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPFD.DE vs. ZPRX.DE — Risk / Return Rank
SPFD.DE
ZPRX.DE
SPFD.DE vs. ZPRX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) (SPFD.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.
| SPFD.DE | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.22 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.36 | 1.47 | -1.11 |
| Martin ratioReturn relative to average drawdown | 1.09 | 5.42 | -4.34 |
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
| SPFD.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.33 | 1.23 | -0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.23 | 0.46 | -0.69 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.13 | 0.39 | -0.53 |
Drawdowns
SPFD.DE vs. ZPRX.DE - Drawdown Comparison
The maximum SPFD.DE drawdown since its inception was -28.91%, smaller than the maximum ZPRX.DE drawdown of -43.93%. Use the drawdown chart below to compare losses from any high point for SPFD.DE and ZPRX.DE.
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Drawdown Indicators
| SPFD.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.91% | -43.93% | +15.02% |
Max Drawdown (1Y)Largest decline over 1 year | -6.70% | -11.63% | +4.93% |
Max Drawdown (3Y)Largest decline over 3 years | -9.24% | -15.95% | +6.71% |
Max Drawdown (5Y)Largest decline over 5 years | -26.77% | -27.52% | +0.75% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.93% | — |
Current DrawdownCurrent decline from peak | -11.71% | -1.51% | -10.20% |
Average DrawdownAverage peak-to-trough decline | -13.46% | -7.71% | -5.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 3.16% | -0.94% |
Volatility
SPFD.DE vs. ZPRX.DE - Volatility Comparison
The current volatility for State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) (SPFD.DE) is 2.53%, while SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) has a volatility of 4.17%. This indicates that SPFD.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
| SPFD.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.53% | 4.17% | -1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 6.38% | 11.30% | -4.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.27% | 13.94% | -6.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.94% | 16.69% | -8.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.88% | 18.14% | -9.26% |
SPFD.DE vs. ZPRX.DE - Expense Ratio Comparison
SPFD.DE has a 0.60% expense ratio, which is higher than ZPRX.DE's 0.30% expense ratio.
Dividends
SPFD.DE vs. ZPRX.DE - Dividend Comparison
Neither SPFD.DE nor ZPRX.DE has paid dividends to shareholders.
Frequently Asked Questions
SPFD.DE and ZPRX.DE have a correlation of 0.57, 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 0.60% for SPFD.DE.
SPFD.DE is categorized as Emerging Markets Bonds, while ZPRX.DE is Europe Equities. SPFD.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond Index (EUR Hedged), while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted. Their fees differ too: 0.60% for SPFD.DE and 0.30% for ZPRX.DE.
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