SPYE.DE vs. ZPRV.DE
SPYE.DE (SPDR MSCI Europe UCITS ETF) and ZPRV.DE (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - SPYE.DE is a Europe Equities fund tracking the MSCI Europe, while ZPRV.DE is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index. Both are passively managed. Over the past 10 years, SPYE.DE returned 9.09%/yr vs 11.63%/yr for ZPRV.DE. A 0.60 correlation means they provide meaningful diversification when combined. SPYE.DE charges 0.25%/yr vs 0.30%/yr for ZPRV.DE.
Performance
SPYE.DE vs. ZPRV.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYE.DE achieves a 7.68% return, which is significantly lower than ZPRV.DE's 14.58% return. Over the past 10 years, SPYE.DE has underperformed ZPRV.DE with an annualized return of 9.09%, while ZPRV.DE has yielded a comparatively higher 11.63% annualized return.
SPYE.DE
- 1D
- 0.62%
- 1M
- 1.21%
- YTD
- 7.68%
- 6M
- 10.03%
- 1Y
- 16.22%
- 3Y*
- 13.73%
- 5Y*
- 9.86%
- 10Y*
- 9.09%
ZPRV.DE
- 1D
- 0.77%
- 1M
- 1.69%
- YTD
- 14.58%
- 6M
- 14.04%
- 1Y
- 34.68%
- 3Y*
- 16.57%
- 5Y*
- 10.67%
- 10Y*
- 11.63%
SPYE.DE vs. ZPRV.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYE.DE SPDR MSCI Europe UCITS ETF | 7.68% | 20.32% | 8.24% | 15.50% | -9.42% | 25.11% | -3.25% | 27.31% | -10.83% | 10.49% |
ZPRV.DE SPDR MSCI USA Small Cap Value Weighted UCITS ETF | 14.58% | 2.99% | 14.07% | 19.11% | -5.31% | 48.07% | -1.85% | 27.41% | -11.78% | -3.75% |
Correlation
The correlation between SPYE.DE and ZPRV.DE is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2015 | 0.60 |
The correlation between SPYE.DE and ZPRV.DE has been stable across timeframes, ranging from 0.58 to 0.65 - a consistent structural relationship.
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Return for Risk
SPYE.DE vs. ZPRV.DE — Risk / Return Rank
SPYE.DE
ZPRV.DE
SPYE.DE vs. ZPRV.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe UCITS ETF (SPYE.DE) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (ZPRV.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.
| SPYE.DE | ZPRV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.38 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 5.84 | -4.10 |
| Martin ratioReturn relative to average drawdown | 6.36 | 17.49 | -11.13 |
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
| SPYE.DE | ZPRV.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 2.17 | -0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.52 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.53 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.47 | +0.05 |
Drawdowns
SPYE.DE vs. ZPRV.DE - Drawdown Comparison
The maximum SPYE.DE drawdown since its inception was -35.54%, smaller than the maximum ZPRV.DE drawdown of -46.04%. Use the drawdown chart below to compare losses from any high point for SPYE.DE and ZPRV.DE.
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Drawdown Indicators
| SPYE.DE | ZPRV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.54% | -46.04% | +10.50% |
Max Drawdown (1Y)Largest decline over 1 year | -9.45% | -5.87% | -3.58% |
Max Drawdown (3Y)Largest decline over 3 years | -16.65% | -31.14% | +14.49% |
Max Drawdown (5Y)Largest decline over 5 years | -19.53% | -31.14% | +11.61% |
Max Drawdown (10Y)Largest decline over 10 years | -35.54% | -46.04% | +10.50% |
Current DrawdownCurrent decline from peak | -1.47% | 0.00% | -1.47% |
Average DrawdownAverage peak-to-trough decline | -5.36% | -8.34% | +2.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 1.96% | +0.63% |
Volatility
SPYE.DE vs. ZPRV.DE - Volatility Comparison
SPDR MSCI Europe UCITS ETF (SPYE.DE) has a higher volatility of 4.24% compared to SPDR MSCI USA Small Cap Value Weighted UCITS ETF (ZPRV.DE) at 3.39%. This indicates that SPYE.DE's price experiences larger fluctuations and is considered to be riskier than ZPRV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYE.DE | ZPRV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 3.39% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 9.42% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.87% | 15.78% | -2.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.30% | 20.38% | -6.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.71% | 22.56% | -6.85% |
SPYE.DE vs. ZPRV.DE - Expense Ratio Comparison
SPYE.DE has a 0.25% expense ratio, which is lower than ZPRV.DE's 0.30% expense ratio.
Dividends
SPYE.DE vs. ZPRV.DE - Dividend Comparison
Neither SPYE.DE nor ZPRV.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYE.DE and ZPRV.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYE.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYE.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for ZPRV.DE.
SPYE.DE is categorized as Europe Equities, while ZPRV.DE is Small Cap Value Equities. SPYE.DE tracks MSCI Europe, while ZPRV.DE tracks MSCI USA Small Cap Value Weighted Index. Their fees differ too: 0.25% for SPYE.DE and 0.30% for ZPRV.DE.
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