SPPY.DE vs. ZPRI.DE

Last updated Jun 26, 2026

SPPY.DE (State Street SPDR S&P 500 Leaders UCITS ETF) and ZPRI.DE (SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF) are both exchange-traded funds - SPPY.DE is a S&P 500 fund tracking the S&P 500 Scored & Screened Leaders Index, while ZPRI.DE is a Diversified Portfolio fund tracking the Morningstar Global Multi-Asset Infrastructure. Both are passively managed. Over the past 5 years, SPPY.DE returned 15.14%/yr vs 4.11%/yr for ZPRI.DE. At a 0.48 correlation, their price movements are largely independent. SPPY.DE charges 0.10%/yr vs 0.40%/yr for ZPRI.DE.

Performance

SPPY.DE vs. ZPRI.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in State Street SPDR S&P 500 Leaders UCITS ETF (SPPY.DE) and SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF (ZPRI.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPPY.DE achieves a 12.49% return, which is significantly higher than ZPRI.DE's 8.67% return.

SPPY.DE

• 1D: -0.19%
• 1M: 2.18%
• YTD: 12.49%
• 6M: 13.00%
• 1Y: 29.56%
• 3Y*: 19.57%
• 5Y*: 15.14%
• 10Y*: —

ZPRI.DE

• 1D: 0.44%
• 1M: 2.20%
• YTD: 8.67%
• 6M: 9.29%
• 1Y: 14.30%
• 3Y*: 7.94%
• 5Y*: 4.11%
• 10Y*: 5.05%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPPY.DE vs. ZPRI.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPPY.DE State Street SPDR S&P 500 Leaders UCITS ETF	12.49%	4.43%	32.86%	26.94%	-14.48%	41.13%	8.01%	3.47%
ZPRI.DE SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF	8.67%	1.94%	8.86%	3.53%	-7.87%	14.36%	-1.90%	1.70%

Correlation

The correlation between SPPY.DE and ZPRI.DE is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019	0.48

The correlation between SPPY.DE and ZPRI.DE shifts across timeframes, from 0.29 (1 year) to 0.48 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPPY.DE vs. ZPRI.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPPY.DE

SPPY.DE Risk / Return Rank: 87
SPPY.DE Sharpe Ratio Rank: 88
SPPY.DE Sortino Ratio Rank: 87
SPPY.DE Omega Ratio Rank: 86
SPPY.DE Calmar Ratio Rank: 87
SPPY.DE Martin Ratio Rank: 89

ZPRI.DE

ZPRI.DE Risk / Return Rank: 74
ZPRI.DE Sharpe Ratio Rank: 71
ZPRI.DE Sortino Ratio Rank: 71
ZPRI.DE Omega Ratio Rank: 67
ZPRI.DE Calmar Ratio Rank: 86
ZPRI.DE Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPPY.DE vs. ZPRI.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 SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF (ZPRI.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	ZPRI.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.50	2.00	+0.49
Sortino ratio: Return per unit of downside risk	3.45	2.81	+0.64
Omega ratio: Gain probability vs. loss probability	1.46	1.35	+0.10
Calmar ratio: Return relative to maximum drawdown	4.38	4.23	+0.15
Martin ratio: Return relative to average drawdown	16.81	12.77	+4.03

SPPY.DE vs. ZPRI.DE - Sharpe Ratio Comparison

The current SPPY.DE Sharpe Ratio is 2.50, which is comparable to the ZPRI.DE Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of SPPY.DE and ZPRI.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPPY.DE vs. ZPRI.DE - Drawdown Comparison

The maximum SPPY.DE drawdown since its inception was -33.33%, which is greater than ZPRI.DE's maximum drawdown of -22.82%. Use the drawdown chart below to compare losses from any high point for SPPY.DE and ZPRI.DE.

Drawdown Indicators

	SPPY.DE	ZPRI.DE	Difference
Max Drawdown Largest peak-to-trough decline	-33.33%	-22.82%	-10.51%
Max Drawdown (1Y) Largest decline over 1 year	-6.72%	-3.37%	-3.35%
Max Drawdown (3Y) Largest decline over 3 years	-23.81%	-11.11%	-12.70%
Max Drawdown (5Y) Largest decline over 5 years	-23.81%	-14.83%	-8.98%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.82%	—
Current Drawdown Current decline from peak	-0.19%	0.00%	-0.19%
Average Drawdown Average peak-to-trough decline	-4.80%	-7.45%	+2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	1.12%	+0.63%

Volatility

SPPY.DE vs. ZPRI.DE - Volatility Comparison

State Street SPDR S&P 500 Leaders UCITS ETF (SPPY.DE) has a higher volatility of 3.17% compared to SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF (ZPRI.DE) at 2.38%. This indicates that SPPY.DE's price experiences larger fluctuations and is considered to be riskier than ZPRI.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPPY.DE	ZPRI.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.17%	2.38%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	8.13%	5.44%	+2.69%
Volatility (1Y) Calculated over the trailing 1-year period	11.79%	7.11%	+4.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.47%	9.92%	+5.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.53%	14.84%	+2.69%

SPPY.DE vs. ZPRI.DE - Expense Ratio Comparison

SPPY.DE has a 0.10% expense ratio, which is lower than ZPRI.DE's 0.40% expense ratio.

Dividends

SPPY.DE vs. ZPRI.DE - Dividend Comparison

SPPY.DE has not paid dividends to shareholders, while ZPRI.DE's dividend yield for the trailing twelve months is around 2.81%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPPY.DE State Street SPDR S&P 500 Leaders UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZPRI.DE SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF	2.81%	2.99%	2.76%	2.78%	2.54%	1.89%	2.23%	2.29%	2.18%	2.36%	0.98%	1.19%

Frequently Asked Questions

Can I hold both SPPY.DE and ZPRI.DE in my portfolio?

SPPY.DE and ZPRI.DE have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPPY.DE or ZPRI.DE?

On fees, SPPY.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPPY.DE or ZPRI.DE?

SPPY.DE is cheaper with a 0.10% expense ratio, compared with 0.40% for ZPRI.DE.

What is the main difference between SPPY.DE and ZPRI.DE?

SPPY.DE is categorized as S&P 500, while ZPRI.DE is Diversified Portfolio. SPPY.DE tracks S&P 500 Scored & Screened Leaders Index, while ZPRI.DE tracks Morningstar Global Multi-Asset Infrastructure. Their fees differ too: 0.10% for SPPY.DE and 0.40% for ZPRI.DE.