SPYA.DE vs. ZPRA.DE

Last updated Jun 5, 2026

SPYA.DE (SPDR MSCI EM Asia UCITS ETF) and ZPRA.DE (SPDR S&P Pan Asia Dividend Aristocrats UCITS ETF (Dist)) are both Asia Pacific Equities funds from State Street - SPYA.DE tracks the MSCI Emerging Markets Asia while ZPRA.DE tracks the S&P Pan Asia Dividend Aristocrats. Both are passively managed. Over the past 10 years, SPYA.DE returned 10.77%/yr vs 6.59%/yr for ZPRA.DE. A 0.66 correlation means they provide meaningful diversification when combined. Both charge a 0.55% expense ratio.

Performance

SPYA.DE vs. ZPRA.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI EM Asia UCITS ETF (SPYA.DE) and SPDR S&P Pan Asia Dividend Aristocrats UCITS ETF (Dist) (ZPRA.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYA.DE achieves a 32.76% return, which is significantly higher than ZPRA.DE's 4.42% return. Over the past 10 years, SPYA.DE has outperformed ZPRA.DE with an annualized return of 10.77%, while ZPRA.DE has yielded a comparatively lower 6.59% annualized return.

SPYA.DE

• 1D: -1.79%
• 1M: 7.19%
• YTD: 32.76%
• 6M: 34.22%
• 1Y: 53.92%
• 3Y*: 22.22%
• 5Y*: 8.39%
• 10Y*: 10.77%

ZPRA.DE

• 1D: -0.22%
• 1M: 0.47%
• YTD: 4.42%
• 6M: 3.08%
• 1Y: 10.80%
• 3Y*: 10.45%
• 5Y*: 5.15%
• 10Y*: 6.59%

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

SPYA.DE vs. ZPRA.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYA.DE SPDR MSCI EM Asia UCITS ETF	32.76%	17.77%	17.39%	3.14%	-16.02%	1.17%	15.21%	21.30%	-11.35%	25.30%
ZPRA.DE SPDR S&P Pan Asia Dividend Aristocrats UCITS ETF (Dist)	4.42%	9.80%	11.25%	11.54%	-10.70%	12.81%	-9.50%	24.48%	-4.62%	13.94%

Correlation

The correlation between SPYA.DE and ZPRA.DE is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since May 20, 2013	0.66

The correlation between SPYA.DE and ZPRA.DE shifts across timeframes, from 0.57 (1 year) to 0.71 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

SPYA.DE vs. ZPRA.DE — Risk / Return Rank

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

SPYA.DE

SPYA.DE Risk / Return Rank: 85
SPYA.DE Sharpe Ratio Rank: 87
SPYA.DE Sortino Ratio Rank: 83
SPYA.DE Omega Ratio Rank: 83
SPYA.DE Calmar Ratio Rank: 87
SPYA.DE Martin Ratio Rank: 84

ZPRA.DE

ZPRA.DE Risk / Return Rank: 34
ZPRA.DE Sharpe Ratio Rank: 31
ZPRA.DE Sortino Ratio Rank: 32
ZPRA.DE Omega Ratio Rank: 31
ZPRA.DE Calmar Ratio Rank: 40
ZPRA.DE Martin Ratio Rank: 34

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.

SPYA.DE vs. ZPRA.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI EM Asia UCITS ETF (SPYA.DE) and SPDR S&P Pan Asia Dividend Aristocrats UCITS ETF (Dist) (ZPRA.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.

	SPYA.DE	ZPRA.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.80	1.11	+1.69
Sortino ratio: Return per unit of downside risk	3.64	1.68	+1.96
Omega ratio: Gain probability vs. loss probability	1.49	1.20	+0.29
Calmar ratio: Return relative to maximum drawdown	4.82	1.93	+2.89
Martin ratio: Return relative to average drawdown	16.86	5.05	+11.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYA.DE vs. ZPRA.DE - Sharpe Ratio Comparison

The current SPYA.DE Sharpe Ratio is 2.80, which is higher than the ZPRA.DE Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of SPYA.DE and ZPRA.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.

Sharpe Ratios by Period

	SPYA.DE	ZPRA.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.80	1.11	+1.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.39	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.46	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.41	+0.04

Drawdowns

SPYA.DE vs. ZPRA.DE - Drawdown Comparison

The maximum SPYA.DE drawdown since its inception was -35.34%, which is greater than ZPRA.DE's maximum drawdown of -31.54%. Use the drawdown chart below to compare losses from any high point for SPYA.DE and ZPRA.DE.

Drawdown Indicators

	SPYA.DE	ZPRA.DE	Difference
Max Drawdown Largest peak-to-trough decline	-35.34%	-31.54%	-3.80%
Max Drawdown (1Y) Largest decline over 1 year	-11.13%	-5.57%	-5.56%
Max Drawdown (3Y) Largest decline over 3 years	-21.39%	-13.55%	-7.84%
Max Drawdown (5Y) Largest decline over 5 years	-29.31%	-21.66%	-7.65%
Max Drawdown (10Y) Largest decline over 10 years	-33.85%	-31.54%	-2.31%
Current Drawdown Current decline from peak	-2.98%	-2.76%	-0.22%
Average Drawdown Average peak-to-trough decline	-10.94%	-6.47%	-4.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	2.13%	+1.06%

Volatility

SPYA.DE vs. ZPRA.DE - Volatility Comparison

SPDR MSCI EM Asia UCITS ETF (SPYA.DE) has a higher volatility of 8.10% compared to SPDR S&P Pan Asia Dividend Aristocrats UCITS ETF (Dist) (ZPRA.DE) at 2.71%. This indicates that SPYA.DE's price experiences larger fluctuations and is considered to be riskier than ZPRA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYA.DE	ZPRA.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.10%	2.71%	+5.39%
Volatility (6M) Calculated over the trailing 6-month period	16.09%	7.42%	+8.67%
Volatility (1Y) Calculated over the trailing 1-year period	19.17%	9.67%	+9.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.38%	12.92%	+5.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.19%	14.47%	+4.72%

SPYA.DE vs. ZPRA.DE - Expense Ratio Comparison

Both SPYA.DE and ZPRA.DE have an expense ratio of 0.55%.

Dividends

SPYA.DE vs. ZPRA.DE - Dividend Comparison

SPYA.DE has not paid dividends to shareholders, while ZPRA.DE's dividend yield for the trailing twelve months is around 2.87%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYA.DE SPDR MSCI EM Asia 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%
ZPRA.DE SPDR S&P Pan Asia Dividend Aristocrats UCITS ETF (Dist)	2.87%	3.01%	2.98%	2.92%	3.64%	4.00%	3.04%	2.62%	2.41%	1.78%	2.25%	3.17%

Frequently Asked Questions

Can I hold both SPYA.DE and ZPRA.DE in my portfolio?

SPYA.DE and ZPRA.DE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPYA.DE or ZPRA.DE?

Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPYA.DE or ZPRA.DE?

SPYA.DE and ZPRA.DE have the same expense ratio: 0.55% per year.

What is the main difference between SPYA.DE and ZPRA.DE?

SPYA.DE tracks MSCI Emerging Markets Asia, while ZPRA.DE tracks S&P Pan Asia Dividend Aristocrats.