SPYL.DE vs. ZPR1.DE
SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) and ZPR1.DE (State Street SPDR Bloomberg 1-3 Month T-Bill UCITS ETF (Acc)) are both exchange-traded funds - SPYL.DE is a S&P 500 fund tracking the S&P 500 Index, while ZPR1.DE is a Money Market fund tracking the Bloomberg US Treasury Bills 1-3 Month Index. Both are passively managed. Over the past year, SPYL.DE returned 23.25% vs 5.05% for ZPR1.DE. At a 0.25 correlation, their price movements are largely independent. SPYL.DE charges 0.03%/yr vs 0.05%/yr for ZPR1.DE.
Performance
SPYL.DE vs. ZPR1.DE - Performance Comparison
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Different Trading Currencies
SPYL.DE is traded in EUR, while ZPR1.DE is traded in USD. To make them comparable, the ZPR1.DE values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPYL.DE achieves a 12.88% return, which is significantly higher than ZPR1.DE's 4.40% return.
SPYL.DE
- 1D
- 0.00%
- 1M
- 1.25%
- 6M
- 11.87%
- YTD
- 12.88%
- 1Y
- 23.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPR1.DE
- 1D
- -0.48%
- 1M
- 1.35%
- 6M
- 3.38%
- YTD
- 4.40%
- 1Y
- 5.05%
- 3Y*
- 3.89%
- 5Y*
- 4.14%
- 10Y*
- —
SPYL.DE vs. ZPR1.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 12.88% | 4.71% | 32.33% | 8.23% |
ZPR1.DE State Street SPDR Bloomberg 1-3 Month T-Bill UCITS ETF (Acc) | 4.40% | -7.65% | 11.56% | -3.38% |
Correlation
The correlation between SPYL.DE and ZPR1.DE is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.25 |
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Return for Risk
SPYL.DE vs. ZPR1.DE — Risk / Return Rank
SPYL.DE
ZPR1.DE
SPYL.DE vs. ZPR1.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) and State Street SPDR Bloomberg 1-3 Month T-Bill UCITS ETF (Acc) (ZPR1.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SPYL.DE | ZPR1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.15 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.28 | 1.31 | +1.97 |
| Martin ratioReturn relative to average drawdown | 11.51 | 3.34 | +8.18 |
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Drawdowns
SPYL.DE vs. ZPR1.DE - Drawdown Comparison
The maximum SPYL.DE drawdown since its inception was -23.27%, which is greater than ZPR1.DE's maximum drawdown of -13.91%. Use the drawdown chart below to compare losses from any high point for SPYL.DE and ZPR1.DE.
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Drawdown Indicators
| SPYL.DE | ZPR1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.27% | -13.91% | -9.36% |
Max Drawdown (1Y)Largest decline over 1 year | -7.13% | -3.85% | -3.28% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.52% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.73% | — |
Current DrawdownCurrent decline from peak | -0.41% | -5.26% | +4.85% |
Average DrawdownAverage peak-to-trough decline | -3.27% | -6.31% | +3.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 1.51% | +0.52% |
Volatility
SPYL.DE vs. ZPR1.DE - Volatility Comparison
State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) has a higher volatility of 2.80% compared to State Street SPDR Bloomberg 1-3 Month T-Bill UCITS ETF (Acc) (ZPR1.DE) at 1.66%. This indicates that SPYL.DE's price experiences larger fluctuations and is considered to be riskier than ZPR1.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYL.DE | ZPR1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.80% | 1.66% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 8.09% | 4.48% | +3.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.01% | 6.20% | +5.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.93% | 7.57% | +7.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.93% | 7.56% | +7.37% |
SPYL.DE vs. ZPR1.DE - Expense Ratio Comparison
SPYL.DE has a 0.03% expense ratio, which is lower than ZPR1.DE's 0.05% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPYL.DE vs. ZPR1.DE - Dividend Comparison
Neither SPYL.DE nor ZPR1.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYL.DE and ZPR1.DE have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYL.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.DE is cheaper with a 0.03% expense ratio, compared with 0.05% for ZPR1.DE.
SPYL.DE is categorized as S&P 500, while ZPR1.DE is Money Market. SPYL.DE tracks S&P 500 Index, while ZPR1.DE tracks Bloomberg US Treasury Bills 1-3 Month Index. Their fees differ too: 0.03% for SPYL.DE and 0.05% for ZPR1.DE.
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