SPFU.DE vs. ZPRX.DE
SPFU.DE (State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist)) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - SPFU.DE is a Global Bonds fund tracking the Bloomberg Global Aggregate Bond Index (USD 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, SPFU.DE returned 0.64%/yr vs 7.75%/yr for ZPRX.DE. At a 0.05 correlation, their price movements are largely independent. SPFU.DE charges 0.10%/yr vs 0.30%/yr for ZPRX.DE.
Performance
SPFU.DE vs. ZPRX.DE - Performance Comparison
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Different Trading Currencies
SPFU.DE is traded in USD, while ZPRX.DE is traded in EUR. To make them comparable, the ZPRX.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPFU.DE achieves a 0.93% return, which is significantly lower than ZPRX.DE's 6.18% return.
SPFU.DE
- 1D
- -0.07%
- 1M
- 0.53%
- 6M
- 1.10%
- YTD
- 0.93%
- 1Y
- 3.02%
- 3Y*
- 4.29%
- 5Y*
- 0.64%
- 10Y*
- —
ZPRX.DE
- 1D
- 1.32%
- 1M
- 0.09%
- 6M
- 5.93%
- YTD
- 6.18%
- 1Y
- 13.64%
- 3Y*
- 17.44%
- 5Y*
- 7.75%
- 10Y*
- 9.96%
SPFU.DE vs. ZPRX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPFU.DE State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist) | 0.93% | 4.89% | 3.05% | 6.77% | -11.22% | -1.54% | 5.34% | 8.06% | 2.43% |
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 6.18% | 43.16% | -1.67% | 18.90% | -18.28% | 17.53% | 5.91% | 26.27% | -21.76% |
Correlation
The correlation between SPFU.DE and ZPRX.DE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2018 | 0.05 |
Over the past year, SPFU.DE and ZPRX.DE have become more correlated (0.49) than their long-term average of 0.05, meaning their price movements have been converging.
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Return for Risk
SPFU.DE vs. ZPRX.DE — Risk / Return Rank
SPFU.DE
ZPRX.DE
SPFU.DE vs. ZPRX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist) (SPFU.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.
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.
| SPFU.DE | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.15 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 0.97 | +0.38 |
| Martin ratioReturn relative to average drawdown | 3.75 | 3.20 | +0.55 |
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Drawdowns
SPFU.DE vs. ZPRX.DE - Drawdown Comparison
The maximum SPFU.DE drawdown since its inception was -15.24%, smaller than the maximum ZPRX.DE drawdown of -50.35%. Use the drawdown chart below to compare losses from any high point for SPFU.DE and ZPRX.DE.
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Drawdown Indicators
| SPFU.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.24% | -50.35% | +35.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.24% | -14.04% | +11.80% |
Max Drawdown (3Y)Largest decline over 3 years | -3.42% | -16.10% | +12.68% |
Max Drawdown (5Y)Largest decline over 5 years | -15.00% | -38.56% | +23.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.35% | — |
Current DrawdownCurrent decline from peak | -0.65% | -2.13% | +1.48% |
Average DrawdownAverage peak-to-trough decline | -3.74% | -11.19% | +7.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 4.25% | -3.45% |
Volatility
SPFU.DE vs. ZPRX.DE - Volatility Comparison
The current volatility for State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist) (SPFU.DE) is 0.72%, while SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) has a volatility of 4.45%. This indicates that SPFU.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
| SPFU.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 4.45% | -3.73% |
Volatility (6M)Calculated over the trailing 6-month period | 2.49% | 13.33% | -10.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.03% | 16.18% | -13.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.25% | 20.05% | -15.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.80% | 19.91% | -16.11% |
SPFU.DE vs. ZPRX.DE - Expense Ratio Comparison
SPFU.DE has a 0.10% expense ratio, which is lower than ZPRX.DE's 0.30% expense ratio.
Dividends
SPFU.DE vs. ZPRX.DE - Dividend Comparison
SPFU.DE's dividend yield for the trailing twelve months is around 3.14%, while ZPRX.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SPFU.DE State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist) | 3.14% | 3.03% | 2.73% | 2.02% | 1.41% | 1.22% | 1.51% | 1.25% | 0.89% |
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPFU.DE and ZPRX.DE have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPFU.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPFU.DE is cheaper with a 0.10% expense ratio, compared with 0.30% for ZPRX.DE.
SPFU.DE is categorized as Global Bonds, while ZPRX.DE is Europe Equities. SPFU.DE tracks Bloomberg Global Aggregate Bond Index (USD Hedged), while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted. Their fees differ too: 0.10% for SPFU.DE and 0.30% for ZPRX.DE.
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