SPY2.DE vs. ZPRP.DE
SPY2.DE (SPDR Dow Jones Global Real Estate UCITS ETF Accumulating) and ZPRP.DE (SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF) are both REIT funds from State Street - SPY2.DE tracks the Dow Jones Global Select Real Estate Securities while ZPRP.DE tracks the FTSE EPRA/NAREIT Developed Europe ex UK. Both are passively managed. Over the past 5 years, SPY2.DE returned 2.27%/yr vs -4.33%/yr for ZPRP.DE. A 0.62 correlation means they provide meaningful diversification when combined. SPY2.DE charges 0.40%/yr vs 0.30%/yr for ZPRP.DE.
Performance
SPY2.DE vs. ZPRP.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPY2.DE achieves a 8.38% return, which is significantly higher than ZPRP.DE's -0.81% return.
SPY2.DE
- 1D
- 0.10%
- 1M
- -0.62%
- YTD
- 8.38%
- 6M
- 7.13%
- 1Y
- 10.21%
- 3Y*
- 5.92%
- 5Y*
- 2.27%
- 10Y*
- —
ZPRP.DE
- 1D
- 0.56%
- 1M
- -1.34%
- YTD
- -0.81%
- 6M
- -0.50%
- 1Y
- -2.34%
- 3Y*
- 9.93%
- 5Y*
- -4.33%
- 10Y*
- 0.99%
SPY2.DE vs. ZPRP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPY2.DE SPDR Dow Jones Global Real Estate UCITS ETF Accumulating | 8.38% | -2.42% | 5.09% | 7.66% | -20.98% | 41.62% | -18.78% | -1.52% |
ZPRP.DE SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF | -0.81% | 6.98% | -2.34% | 19.03% | -36.37% | 10.87% | -6.56% | 3.96% |
Correlation
The correlation between SPY2.DE and ZPRP.DE is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2019 | 0.62 |
The correlation between SPY2.DE and ZPRP.DE has been stable across timeframes, ranging from 0.56 to 0.62 - a consistent structural relationship.
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Return for Risk
SPY2.DE vs. ZPRP.DE — Risk / Return Rank
SPY2.DE
ZPRP.DE
SPY2.DE vs. ZPRP.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones Global Real Estate UCITS ETF Accumulating (SPY2.DE) and SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF (ZPRP.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.
| SPY2.DE | ZPRP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.99 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | -0.15 | +1.63 |
| Martin ratioReturn relative to average drawdown | 4.38 | -0.41 | +4.78 |
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
| SPY2.DE | ZPRP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | -0.15 | +1.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | -0.19 | +0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.08 | -0.03 |
Drawdowns
SPY2.DE vs. ZPRP.DE - Drawdown Comparison
The maximum SPY2.DE drawdown since its inception was -42.59%, smaller than the maximum ZPRP.DE drawdown of -48.69%. Use the drawdown chart below to compare losses from any high point for SPY2.DE and ZPRP.DE.
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Drawdown Indicators
| SPY2.DE | ZPRP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.59% | -48.69% | +6.10% |
Max Drawdown (1Y)Largest decline over 1 year | -6.86% | -15.29% | +8.43% |
Max Drawdown (3Y)Largest decline over 3 years | -20.14% | -19.80% | -0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -30.72% | -48.69% | +17.97% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.69% | — |
Current DrawdownCurrent decline from peak | -7.69% | -26.29% | +18.60% |
Average DrawdownAverage peak-to-trough decline | -15.50% | -16.81% | +1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.33% | 5.75% | -3.42% |
Volatility
SPY2.DE vs. ZPRP.DE - Volatility Comparison
The current volatility for SPDR Dow Jones Global Real Estate UCITS ETF Accumulating (SPY2.DE) is 2.82%, while SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF (ZPRP.DE) has a volatility of 5.34%. This indicates that SPY2.DE experiences smaller price fluctuations and is considered to be less risky than ZPRP.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPY2.DE | ZPRP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.82% | 5.34% | -2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 8.57% | 13.00% | -4.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.46% | 15.30% | -3.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.06% | 22.12% | -7.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.91% | 19.77% | +0.14% |
SPY2.DE vs. ZPRP.DE - Expense Ratio Comparison
SPY2.DE has a 0.40% expense ratio, which is higher than ZPRP.DE's 0.30% expense ratio.
Dividends
SPY2.DE vs. ZPRP.DE - Dividend Comparison
Neither SPY2.DE nor ZPRP.DE has paid dividends to shareholders.
Frequently Asked Questions
SPY2.DE and ZPRP.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPRP.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPRP.DE is cheaper with a 0.30% expense ratio, compared with 0.40% for SPY2.DE.
SPY2.DE tracks Dow Jones Global Select Real Estate Securities, while ZPRP.DE tracks FTSE EPRA/NAREIT Developed Europe ex UK. Their fees differ too: 0.40% for SPY2.DE and 0.30% for ZPRP.DE.
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