SPYL.DE vs. ZPRX.DE
SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - SPYL.DE is a S&P 500 fund tracking the S&P 500 Index, while ZPRX.DE is a Europe Equities fund tracking the MSCI Europe Small Cap Value Weighted. Both are passively managed. Over the past year, SPYL.DE returned 25.61% vs 17.16% for ZPRX.DE. At a 0.46 correlation, their price movements are largely independent. SPYL.DE charges 0.03%/yr vs 0.30%/yr for ZPRX.DE.
Performance
SPYL.DE vs. ZPRX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYL.DE achieves a 11.37% return, which is significantly higher than ZPRX.DE's 7.81% return.
SPYL.DE
- 1D
- -0.15%
- 1M
- 5.19%
- YTD
- 11.37%
- 6M
- 11.41%
- 1Y
- 25.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPRX.DE
- 1D
- 0.33%
- 1M
- 3.14%
- YTD
- 7.81%
- 6M
- 11.48%
- 1Y
- 17.16%
- 3Y*
- 15.09%
- 5Y*
- 7.77%
- 10Y*
- 8.15%
SPYL.DE vs. ZPRX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.37% | 4.71% | 32.33% | 9.54% |
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 7.81% | 26.81% | 4.28% | 14.00% |
Correlation
The correlation between SPYL.DE and ZPRX.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 (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.46 |
The correlation between SPYL.DE and ZPRX.DE shifts across timeframes, from 0.46 (all time) to 0.58 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPYL.DE vs. ZPRX.DE — Risk / Return Rank
SPYL.DE
ZPRX.DE
SPYL.DE vs. ZPRX.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 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.
| SPYL.DE | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.22 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 1.47 | +2.11 |
| Martin ratioReturn relative to average drawdown | 12.72 | 5.42 | +7.30 |
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
| SPYL.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.21 | 1.23 | +0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.46 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.54 | 0.39 | +1.14 |
Drawdowns
SPYL.DE vs. ZPRX.DE - Drawdown Comparison
The maximum SPYL.DE drawdown since its inception was -23.27%, smaller than the maximum ZPRX.DE drawdown of -43.93%. Use the drawdown chart below to compare losses from any high point for SPYL.DE and ZPRX.DE.
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Drawdown Indicators
| SPYL.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.27% | -43.93% | +20.66% |
Max Drawdown (1Y)Largest decline over 1 year | -7.13% | -11.63% | +4.50% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.95% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.52% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.93% | — |
Current DrawdownCurrent decline from peak | -0.46% | -1.51% | +1.05% |
Average DrawdownAverage peak-to-trough decline | -3.24% | -7.71% | +4.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 3.16% | -1.15% |
Volatility
SPYL.DE vs. ZPRX.DE - Volatility Comparison
The current volatility for State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) is 2.66%, while SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) has a volatility of 4.17%. This indicates that SPYL.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
| SPYL.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 4.17% | -1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 7.57% | 11.30% | -3.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.52% | 13.94% | -2.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.61% | 16.69% | -2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.61% | 18.14% | -3.53% |
SPYL.DE vs. ZPRX.DE - Expense Ratio Comparison
SPYL.DE has a 0.03% expense ratio, which is lower than ZPRX.DE's 0.30% expense ratio.
Dividends
SPYL.DE vs. ZPRX.DE - Dividend Comparison
Neither SPYL.DE nor ZPRX.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYL.DE and ZPRX.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, 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 0.30% for ZPRX.DE.
SPYL.DE is categorized as S&P 500, while ZPRX.DE is Europe Equities. SPYL.DE tracks S&P 500 Index, while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted. Their fees differ too: 0.03% for SPYL.DE and 0.30% for ZPRX.DE.
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