SPPY.DE vs. ZPR1.DE
SPPY.DE (State Street SPDR S&P 500 Leaders UCITS ETF) and ZPR1.DE (State Street SPDR Bloomberg 1-3 Month T-Bill UCITS ETF (Acc)) are both exchange-traded funds - SPPY.DE is a S&P 500 fund tracking the S&P 500 Scored & Screened Leaders Index, while ZPR1.DE is a Money Market fund tracking the Bloomberg US Treasury Bills 1-3 Month Index. Both are passively managed. Over the past 5 years, SPPY.DE returned 14.54%/yr vs 4.14%/yr for ZPR1.DE. At a 0.14 correlation, their price movements are largely independent. SPPY.DE charges 0.10%/yr vs 0.05%/yr for ZPR1.DE.
Performance
SPPY.DE vs. ZPR1.DE - Performance Comparison
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Different Trading Currencies
SPPY.DE is traded in EUR, while ZPR1.DE is traded in USD. To make them comparable, the ZPR1.DE values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPPY.DE achieves a 12.87% return, which is significantly higher than ZPR1.DE's 4.40% return.
SPPY.DE
- 1D
- 0.02%
- 1M
- 0.78%
- 6M
- 12.02%
- YTD
- 12.87%
- 1Y
- 25.66%
- 3Y*
- 19.24%
- 5Y*
- 14.54%
- 10Y*
- —
ZPR1.DE
- 1D
- -0.48%
- 1M
- 1.35%
- 6M
- 3.38%
- YTD
- 4.40%
- 1Y
- 5.05%
- 3Y*
- 3.89%
- 5Y*
- 4.14%
- 10Y*
- —
SPPY.DE vs. ZPR1.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPPY.DE State Street SPDR S&P 500 Leaders UCITS ETF | 12.87% | 4.43% | 32.86% | 26.94% | -14.48% | 41.13% | 8.01% | 3.47% |
ZPR1.DE State Street SPDR Bloomberg 1-3 Month T-Bill UCITS ETF (Acc) | 4.40% | -7.65% | 11.56% | 1.86% | 7.26% | 8.54% | -8.63% | -0.88% |
Correlation
The correlation between SPPY.DE and ZPR1.DE is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019 | 0.14 |
The correlation between SPPY.DE and ZPR1.DE shifts across timeframes, from 0.14 (all time) to 0.24 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPPY.DE vs. ZPR1.DE — Risk / Return Rank
SPPY.DE
ZPR1.DE
SPPY.DE vs. ZPR1.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 Leaders UCITS ETF (SPPY.DE) and State Street SPDR Bloomberg 1-3 Month T-Bill UCITS ETF (Acc) (ZPR1.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.
| SPPY.DE | ZPR1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.36 | ||
| Sortino ratioReturn per unit of downside risk | +1.83 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.15 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.80 | 1.31 | +2.50 |
| Martin ratioReturn relative to average drawdown | 14.56 | 3.34 | +11.22 |
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Drawdowns
SPPY.DE vs. ZPR1.DE - Drawdown Comparison
The maximum SPPY.DE drawdown since its inception was -33.33%, which is greater than ZPR1.DE's maximum drawdown of -13.91%. Use the drawdown chart below to compare losses from any high point for SPPY.DE and ZPR1.DE.
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Drawdown Indicators
| SPPY.DE | ZPR1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.33% | -13.91% | -19.42% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -3.85% | -2.87% |
Max Drawdown (3Y)Largest decline over 3 years | -23.81% | -11.52% | -12.29% |
Max Drawdown (5Y)Largest decline over 5 years | -23.81% | -11.73% | -12.08% |
Current DrawdownCurrent decline from peak | -0.54% | -5.26% | +4.72% |
Average DrawdownAverage peak-to-trough decline | -4.77% | -6.31% | +1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.76% | 1.51% | +0.25% |
Volatility
SPPY.DE vs. ZPR1.DE - Volatility Comparison
State Street SPDR S&P 500 Leaders UCITS ETF (SPPY.DE) has a higher volatility of 2.39% compared to State Street SPDR Bloomberg 1-3 Month T-Bill UCITS ETF (Acc) (ZPR1.DE) at 1.66%. This indicates that SPPY.DE's price experiences larger fluctuations and is considered to be riskier than ZPR1.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPPY.DE | ZPR1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.39% | 1.66% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 8.07% | 4.48% | +3.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.77% | 6.20% | +5.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.46% | 7.57% | +7.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.47% | 7.56% | +9.91% |
SPPY.DE vs. ZPR1.DE - Expense Ratio Comparison
SPPY.DE has a 0.10% expense ratio, which is higher than ZPR1.DE's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPPY.DE vs. ZPR1.DE - Dividend Comparison
Neither SPPY.DE nor ZPR1.DE has paid dividends to shareholders.
Frequently Asked Questions
SPPY.DE and ZPR1.DE have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPR1.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPR1.DE is cheaper with a 0.05% expense ratio, compared with 0.10% for SPPY.DE.
SPPY.DE is categorized as S&P 500, while ZPR1.DE is Money Market. SPPY.DE tracks S&P 500 Scored & Screened Leaders Index, while ZPR1.DE tracks Bloomberg US Treasury Bills 1-3 Month Index. Their fees differ too: 0.10% for SPPY.DE and 0.05% for ZPR1.DE.
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