SPYE.DE vs. ZPRX.DE
SPYE.DE (SPDR MSCI Europe UCITS ETF) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both Europe Equities funds from State Street - SPYE.DE tracks the MSCI Europe while ZPRX.DE tracks the MSCI Europe Small Cap Value Weighted. Both are passively managed. Over the past 10 years, SPYE.DE returned 9.09%/yr vs 8.15%/yr for ZPRX.DE. Their correlation of 0.86 suggests significant overlap in exposure. SPYE.DE charges 0.25%/yr vs 0.30%/yr for ZPRX.DE.
Performance
SPYE.DE vs. ZPRX.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SPYE.DE having a 7.68% return and ZPRX.DE slightly higher at 7.81%. Over the past 10 years, SPYE.DE has outperformed ZPRX.DE with an annualized return of 9.09%, while ZPRX.DE has yielded a comparatively lower 8.15% 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%
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%
SPYE.DE vs. ZPRX.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% |
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 SPYE.DE and ZPRX.DE is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2015 | 0.86 |
The correlation between SPYE.DE and ZPRX.DE has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.
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Return for Risk
SPYE.DE vs. ZPRX.DE — Risk / Return Rank
SPYE.DE
ZPRX.DE
SPYE.DE vs. ZPRX.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 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.
| SPYE.DE | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.22 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 1.47 | +0.27 |
| Martin ratioReturn relative to average drawdown | 6.36 | 5.42 | +0.93 |
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 | ZPRX.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 1.23 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.46 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.45 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.39 | +0.13 |
Drawdowns
SPYE.DE vs. ZPRX.DE - Drawdown Comparison
The maximum SPYE.DE drawdown since its inception was -35.54%, smaller than the maximum ZPRX.DE drawdown of -43.93%. Use the drawdown chart below to compare losses from any high point for SPYE.DE and ZPRX.DE.
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Drawdown Indicators
| SPYE.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.54% | -43.93% | +8.39% |
Max Drawdown (1Y)Largest decline over 1 year | -9.45% | -11.63% | +2.18% |
Max Drawdown (3Y)Largest decline over 3 years | -16.65% | -15.95% | -0.70% |
Max Drawdown (5Y)Largest decline over 5 years | -19.53% | -27.52% | +7.99% |
Max Drawdown (10Y)Largest decline over 10 years | -35.54% | -43.93% | +8.39% |
Current DrawdownCurrent decline from peak | -1.47% | -1.51% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -5.36% | -7.71% | +2.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 3.16% | -0.57% |
Volatility
SPYE.DE vs. ZPRX.DE - Volatility Comparison
SPDR MSCI Europe UCITS ETF (SPYE.DE) and SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) have volatilities of 4.24% and 4.17%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYE.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 4.17% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 11.30% | -0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.87% | 13.94% | -1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.30% | 16.69% | -2.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.71% | 18.14% | -2.43% |
SPYE.DE vs. ZPRX.DE - Expense Ratio Comparison
SPYE.DE has a 0.25% expense ratio, which is lower than ZPRX.DE's 0.30% expense ratio.
Dividends
SPYE.DE vs. ZPRX.DE - Dividend Comparison
Neither SPYE.DE nor ZPRX.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYE.DE and ZPRX.DE have a correlation of 0.83, 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 ZPRX.DE.
SPYE.DE tracks MSCI Europe, while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted. Their fees differ too: 0.25% for SPYE.DE and 0.30% for ZPRX.DE.
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