SPYP.DE vs. ZPRX.DE
SPYP.DE (SPDR MSCI Europe Materials UCITS ETF) and ZPRX.DE (SPDR MSCI Europe 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 ZPRX.DE is a Europe Equities fund tracking the MSCI Europe Small Cap Value Weighted. Both are passively managed. Over the past 10 years, SPYP.DE returned 11.05%/yr vs 8.15%/yr for ZPRX.DE. A 0.78 correlation means they provide meaningful diversification when combined. SPYP.DE charges 0.18%/yr vs 0.30%/yr for ZPRX.DE.
Performance
SPYP.DE vs. ZPRX.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 ZPRX.DE's 7.81% return. Over the past 10 years, SPYP.DE has outperformed ZPRX.DE with an annualized return of 11.05%, while ZPRX.DE has yielded a comparatively lower 8.15% 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%
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%
SPYP.DE vs. ZPRX.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% |
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 SPYP.DE and ZPRX.DE is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2015 | 0.78 |
The correlation between SPYP.DE and ZPRX.DE has been stable across timeframes, ranging from 0.74 to 0.78 - a consistent structural relationship.
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Return for Risk
SPYP.DE vs. ZPRX.DE — Risk / Return Rank
SPYP.DE
ZPRX.DE
SPYP.DE vs. ZPRX.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 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.
| SPYP.DE | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.22 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 1.47 | +0.51 |
| Martin ratioReturn relative to average drawdown | 7.94 | 5.42 | +2.52 |
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 | ZPRX.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.52 | 1.23 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.46 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.45 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.39 | +0.02 |
Drawdowns
SPYP.DE vs. ZPRX.DE - Drawdown Comparison
The maximum SPYP.DE drawdown since its inception was -36.99%, smaller than the maximum ZPRX.DE drawdown of -43.93%. Use the drawdown chart below to compare losses from any high point for SPYP.DE and ZPRX.DE.
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Drawdown Indicators
| SPYP.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.99% | -43.93% | +6.94% |
Max Drawdown (1Y)Largest decline over 1 year | -13.07% | -11.63% | -1.44% |
Max Drawdown (3Y)Largest decline over 3 years | -20.69% | -15.95% | -4.74% |
Max Drawdown (5Y)Largest decline over 5 years | -22.63% | -27.52% | +4.89% |
Max Drawdown (10Y)Largest decline over 10 years | -35.40% | -43.93% | +8.53% |
Current DrawdownCurrent decline from peak | -1.54% | -1.51% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -7.59% | -7.71% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 3.16% | +0.10% |
Volatility
SPYP.DE vs. ZPRX.DE - Volatility Comparison
SPDR MSCI Europe Materials UCITS ETF (SPYP.DE) has a higher volatility of 6.50% compared to SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) at 4.17%. This indicates that SPYP.DE's price experiences larger fluctuations and is considered to be riskier 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
| SPYP.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.50% | 4.17% | +2.33% |
Volatility (6M)Calculated over the trailing 6-month period | 14.33% | 11.30% | +3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.04% | 13.94% | +3.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.94% | 16.69% | +1.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.34% | 18.14% | +1.20% |
SPYP.DE vs. ZPRX.DE - Expense Ratio Comparison
SPYP.DE has a 0.18% expense ratio, which is lower than ZPRX.DE's 0.30% expense ratio.
Dividends
SPYP.DE vs. ZPRX.DE - Dividend Comparison
Neither SPYP.DE nor ZPRX.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYP.DE and ZPRX.DE have a correlation of 0.75, 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 ZPRX.DE.
SPYP.DE is categorized as Industrials Equities, while ZPRX.DE is Europe Equities. SPYP.DE tracks MSCI Europe Materials 20/35 Capped, while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted. Their fees differ too: 0.18% for SPYP.DE and 0.30% for ZPRX.DE.
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