SPYP.DE vs. ZPRV.DE
SPYP.DE (SPDR MSCI Europe Materials UCITS ETF) and ZPRV.DE (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - SPYP.DE is a Industrials Equities fund tracking the MSCI Europe Materials 20/35 Capped, 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, SPYP.DE returned 11.05%/yr vs 11.63%/yr for ZPRV.DE. A 0.56 correlation means they provide meaningful diversification when combined. SPYP.DE charges 0.18%/yr vs 0.30%/yr for ZPRV.DE.
Performance
SPYP.DE vs. ZPRV.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYP.DE achieves a 17.42% return, which is significantly higher than ZPRV.DE's 14.58% return. Over the past 10 years, SPYP.DE has underperformed ZPRV.DE with an annualized return of 11.05%, while ZPRV.DE has yielded a comparatively higher 11.63% annualized return.
SPYP.DE
- 1D
- -0.40%
- 1M
- 5.89%
- YTD
- 17.42%
- 6M
- 21.88%
- 1Y
- 25.97%
- 3Y*
- 12.38%
- 5Y*
- 6.68%
- 10Y*
- 11.05%
ZPRV.DE
- 1D
- 0.77%
- 1M
- 2.26%
- YTD
- 14.58%
- 6M
- 14.63%
- 1Y
- 34.42%
- 3Y*
- 16.57%
- 5Y*
- 10.67%
- 10Y*
- 11.63%
SPYP.DE vs. ZPRV.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYP.DE SPDR MSCI Europe Materials UCITS ETF | 17.42% | 13.01% | -3.09% | 12.36% | -9.22% | 24.42% | 9.86% | 27.43% | -14.57% | 18.99% |
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 SPYP.DE and ZPRV.DE is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2015 | 0.56 |
The correlation between SPYP.DE and ZPRV.DE has been stable across timeframes, ranging from 0.52 to 0.60 - a consistent structural relationship.
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Return for Risk
SPYP.DE vs. ZPRV.DE — Risk / Return Rank
SPYP.DE
ZPRV.DE
SPYP.DE vs. ZPRV.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Materials UCITS ETF (SPYP.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.
| SPYP.DE | ZPRV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.38 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 5.84 | -3.86 |
| Martin ratioReturn relative to average drawdown | 7.94 | 17.49 | -9.54 |
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
| SPYP.DE | ZPRV.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.52 | 2.17 | -0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.52 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.53 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.47 | -0.05 |
Drawdowns
SPYP.DE vs. ZPRV.DE - Drawdown Comparison
The maximum SPYP.DE drawdown since its inception was -36.99%, smaller than the maximum ZPRV.DE drawdown of -46.04%. Use the drawdown chart below to compare losses from any high point for SPYP.DE and ZPRV.DE.
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Drawdown Indicators
| SPYP.DE | ZPRV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.99% | -46.04% | +9.05% |
Max Drawdown (1Y)Largest decline over 1 year | -13.07% | -5.87% | -7.20% |
Max Drawdown (3Y)Largest decline over 3 years | -20.69% | -31.14% | +10.45% |
Max Drawdown (5Y)Largest decline over 5 years | -22.63% | -31.14% | +8.51% |
Max Drawdown (10Y)Largest decline over 10 years | -35.40% | -46.04% | +10.64% |
Current DrawdownCurrent decline from peak | -1.54% | 0.00% | -1.54% |
Average DrawdownAverage peak-to-trough decline | -7.59% | -8.34% | +0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 1.96% | +1.30% |
Volatility
SPYP.DE vs. ZPRV.DE - Volatility Comparison
SPDR MSCI Europe Materials UCITS ETF (SPYP.DE) has a higher volatility of 6.50% compared to SPDR MSCI USA Small Cap Value Weighted UCITS ETF (ZPRV.DE) at 3.39%. This indicates that SPYP.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
| SPYP.DE | ZPRV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.50% | 3.39% | +3.11% |
Volatility (6M)Calculated over the trailing 6-month period | 14.33% | 9.42% | +4.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.04% | 15.78% | +1.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.94% | 20.38% | -2.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.34% | 22.56% | -3.22% |
SPYP.DE vs. ZPRV.DE - Expense Ratio Comparison
SPYP.DE has a 0.18% expense ratio, which is lower than ZPRV.DE's 0.30% expense ratio.
Dividends
SPYP.DE vs. ZPRV.DE - Dividend Comparison
Neither SPYP.DE nor ZPRV.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYP.DE and ZPRV.DE have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYP.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYP.DE is cheaper with a 0.18% expense ratio, compared with 0.30% for ZPRV.DE.
SPYP.DE is categorized as Industrials Equities, while ZPRV.DE is Small Cap Value Equities. SPYP.DE tracks MSCI Europe Materials 20/35 Capped, while ZPRV.DE tracks MSCI USA Small Cap Value Weighted Index. Their fees differ too: 0.18% for SPYP.DE and 0.30% for ZPRV.DE.
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