SPP1.DE vs. ZPRX.DE
SPP1.DE (State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc)) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - SPP1.DE is a Global Equities fund tracking the MSCI ACWI with Developed Markets 100% Hedged to EUR Index, 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, SPP1.DE returned 10.21%/yr vs 8.54%/yr for ZPRX.DE. A 0.76 correlation means they provide meaningful diversification when combined. SPP1.DE charges 0.17%/yr vs 0.30%/yr for ZPRX.DE.
Performance
SPP1.DE vs. ZPRX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPP1.DE achieves a 11.13% return, which is significantly higher than ZPRX.DE's 9.06% return.
SPP1.DE
- 1D
- 0.60%
- 1M
- 0.08%
- 6M
- 11.32%
- YTD
- 11.13%
- 1Y
- 22.91%
- 3Y*
- 18.01%
- 5Y*
- 10.21%
- 10Y*
- —
ZPRX.DE
- 1D
- 1.28%
- 1M
- 1.50%
- 6M
- 8.54%
- YTD
- 9.06%
- 1Y
- 16.81%
- 3Y*
- 15.50%
- 5Y*
- 8.54%
- 10Y*
- 9.60%
SPP1.DE vs. ZPRX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPP1.DE State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc) | 11.13% | 17.43% | 19.40% | 19.48% | -17.94% | 21.52% | 10.80% | 7.73% |
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 9.06% | 26.81% | 4.29% | 15.26% | -13.51% | 27.59% | -3.52% | 12.60% |
Correlation
The correlation between SPP1.DE and ZPRX.DE is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2019 | 0.76 |
The correlation between SPP1.DE and ZPRX.DE has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.
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Return for Risk
SPP1.DE vs. ZPRX.DE — Risk / Return Rank
SPP1.DE
ZPRX.DE
SPP1.DE vs. ZPRX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc) (SPP1.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.
| SPP1.DE | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.22 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 1.44 | +1.34 |
| Martin ratioReturn relative to average drawdown | 11.61 | 5.22 | +6.39 |
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Drawdowns
SPP1.DE vs. ZPRX.DE - Drawdown Comparison
The maximum SPP1.DE drawdown since its inception was -32.51%, smaller than the maximum ZPRX.DE drawdown of -43.93%. Use the drawdown chart below to compare losses from any high point for SPP1.DE and ZPRX.DE.
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Drawdown Indicators
| SPP1.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.51% | -43.93% | +11.42% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -11.63% | +3.42% |
Max Drawdown (3Y)Largest decline over 3 years | -17.70% | -15.95% | -1.75% |
Max Drawdown (5Y)Largest decline over 5 years | -22.77% | -27.52% | +4.75% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.93% | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.37% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -7.66% | +2.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 3.21% | -1.24% |
Volatility
SPP1.DE vs. ZPRX.DE - Volatility Comparison
State Street SPDR MSCI All Country World EUR Hdg UCITS ETF (Acc) (SPP1.DE) has a higher volatility of 3.99% compared to SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) at 3.77%. This indicates that SPP1.DE's price experiences larger fluctuations and is considered to be riskier 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
| SPP1.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 3.77% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 9.80% | 11.65% | -1.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.21% | 14.09% | -1.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.63% | 16.72% | -2.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.66% | 17.64% | -0.98% |
SPP1.DE vs. ZPRX.DE - Expense Ratio Comparison
SPP1.DE has a 0.17% expense ratio, which is lower than ZPRX.DE's 0.30% expense ratio.
Dividends
SPP1.DE vs. ZPRX.DE - Dividend Comparison
Neither SPP1.DE nor ZPRX.DE has paid dividends to shareholders.
Frequently Asked Questions
SPP1.DE and ZPRX.DE have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPP1.DE is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPP1.DE is cheaper with a 0.17% expense ratio, compared with 0.30% for ZPRX.DE.
SPP1.DE is categorized as Global Equities, while ZPRX.DE is Europe Equities. SPP1.DE tracks MSCI ACWI with Developed Markets 100% Hedged to EUR Index, while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted. Their fees differ too: 0.17% for SPP1.DE and 0.30% for ZPRX.DE.
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