SPY4.DE vs. ZPRX.DE
SPY4.DE (SPDR S&P 400 US Mid Cap UCITS ETF) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - SPY4.DE is a Mid Cap Blend Equities fund tracking the S&P MidCap 400, while ZPRX.DE is a Europe Equities fund tracking the MSCI Europe Small Cap Value Weighted. Both are passively managed. Over the past 10 years, SPY4.DE returned 10.43%/yr vs 8.15%/yr for ZPRX.DE. A 0.68 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.
Performance
SPY4.DE vs. ZPRX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPY4.DE achieves a 14.09% return, which is significantly higher than ZPRX.DE's 7.81% return. Over the past 10 years, SPY4.DE has outperformed ZPRX.DE with an annualized return of 10.43%, while ZPRX.DE has yielded a comparatively lower 8.15% annualized return.
SPY4.DE
- 1D
- 0.26%
- 1M
- 2.42%
- YTD
- 14.09%
- 6M
- 13.87%
- 1Y
- 23.49%
- 3Y*
- 12.93%
- 5Y*
- 8.81%
- 10Y*
- 10.43%
ZPRX.DE
- 1D
- 0.33%
- 1M
- 1.27%
- YTD
- 7.81%
- 6M
- 10.93%
- 1Y
- 17.80%
- 3Y*
- 15.09%
- 5Y*
- 7.77%
- 10Y*
- 8.15%
SPY4.DE vs. ZPRX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPY4.DE SPDR S&P 400 US Mid Cap UCITS ETF | 14.09% | -3.63% | 18.67% | 13.23% | -8.82% | 35.58% | 2.35% | 29.19% | -8.75% | 1.67% |
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 7.81% | 26.81% | 4.28% | 15.28% | -13.52% | 27.58% | -3.52% | 29.02% | -19.20% | 12.89% |
Correlation
The correlation between SPY4.DE and ZPRX.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2015 | 0.68 |
The correlation between SPY4.DE and ZPRX.DE has been stable across timeframes, ranging from 0.60 to 0.68 - a consistent structural relationship.
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Return for Risk
SPY4.DE vs. ZPRX.DE — Risk / Return Rank
SPY4.DE
ZPRX.DE
SPY4.DE vs. ZPRX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 400 US Mid Cap UCITS ETF (SPY4.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.
| SPY4.DE | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.22 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 1.47 | +2.32 |
| Martin ratioReturn relative to average drawdown | 11.31 | 5.42 | +5.88 |
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
| SPY4.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 1.23 | +0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.46 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.45 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.39 | +0.25 |
Drawdowns
SPY4.DE vs. ZPRX.DE - Drawdown Comparison
The maximum SPY4.DE drawdown since its inception was -42.72%, roughly equal to the maximum ZPRX.DE drawdown of -43.93%. Use the drawdown chart below to compare losses from any high point for SPY4.DE and ZPRX.DE.
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Drawdown Indicators
| SPY4.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.72% | -43.93% | +1.21% |
Max Drawdown (1Y)Largest decline over 1 year | -6.07% | -11.63% | +5.56% |
Max Drawdown (3Y)Largest decline over 3 years | -29.11% | -15.95% | -13.16% |
Max Drawdown (5Y)Largest decline over 5 years | -29.11% | -27.52% | -1.59% |
Max Drawdown (10Y)Largest decline over 10 years | -42.72% | -43.93% | +1.21% |
Current DrawdownCurrent decline from peak | 0.00% | -1.51% | +1.51% |
Average DrawdownAverage peak-to-trough decline | -5.87% | -7.71% | +1.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 3.16% | -1.13% |
Volatility
SPY4.DE vs. ZPRX.DE - Volatility Comparison
The current volatility for SPDR S&P 400 US Mid Cap UCITS ETF (SPY4.DE) is 3.51%, while SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) has a volatility of 4.17%. This indicates that SPY4.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
| SPY4.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.51% | 4.17% | -0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 9.83% | 11.30% | -1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.65% | 13.94% | +0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.33% | 16.69% | +1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.50% | 18.14% | +1.36% |
SPY4.DE vs. ZPRX.DE - Expense Ratio Comparison
Both SPY4.DE and ZPRX.DE have an expense ratio of 0.30%.
Dividends
SPY4.DE vs. ZPRX.DE - Dividend Comparison
Neither SPY4.DE nor ZPRX.DE has paid dividends to shareholders.
Frequently Asked Questions
SPY4.DE and ZPRX.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SPY4.DE and ZPRX.DE have the same expense ratio: 0.30% per year.
SPY4.DE is categorized as Mid Cap Blend Equities, while ZPRX.DE is Europe Equities. SPY4.DE tracks S&P MidCap 400, while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted.
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