SPYQ.DE vs. ZPRX.DE
SPYQ.DE (SPDR MSCI Europe Industrials UCITS ETF) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - SPYQ.DE is a Industrials Equities fund tracking the MSCI Europe Industrials 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, SPYQ.DE returned 12.56%/yr vs 8.15%/yr for ZPRX.DE. Their correlation of 0.83 suggests significant overlap in exposure. SPYQ.DE charges 0.18%/yr vs 0.30%/yr for ZPRX.DE.
Performance
SPYQ.DE vs. ZPRX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYQ.DE achieves a 8.86% return, which is significantly higher than ZPRX.DE's 7.81% return. Over the past 10 years, SPYQ.DE has outperformed ZPRX.DE with an annualized return of 12.56%, while ZPRX.DE has yielded a comparatively lower 8.15% annualized return.
SPYQ.DE
- 1D
- 0.62%
- 1M
- 0.55%
- YTD
- 8.86%
- 6M
- 11.04%
- 1Y
- 15.68%
- 3Y*
- 19.58%
- 5Y*
- 12.85%
- 10Y*
- 12.56%
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%
SPYQ.DE vs. ZPRX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYQ.DE SPDR MSCI Europe Industrials UCITS ETF | 8.86% | 25.52% | 14.36% | 26.68% | -16.54% | 28.05% | 4.02% | 37.55% | -14.12% | 15.52% |
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 SPYQ.DE and ZPRX.DE is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2015 | 0.83 |
The correlation between SPYQ.DE and ZPRX.DE has been stable across timeframes, ranging from 0.76 to 0.83 - a consistent structural relationship.
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Return for Risk
SPYQ.DE vs. ZPRX.DE — Risk / Return Rank
SPYQ.DE
ZPRX.DE
SPYQ.DE vs. ZPRX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Industrials UCITS ETF (SPYQ.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.
| SPYQ.DE | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.22 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 1.47 | -0.28 |
| Martin ratioReturn relative to average drawdown | 4.36 | 5.42 | -1.06 |
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
| SPYQ.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 1.23 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.46 | +0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | 0.45 | +0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.39 | +0.20 |
Drawdowns
SPYQ.DE vs. ZPRX.DE - Drawdown Comparison
The maximum SPYQ.DE drawdown since its inception was -41.44%, smaller than the maximum ZPRX.DE drawdown of -43.93%. Use the drawdown chart below to compare losses from any high point for SPYQ.DE and ZPRX.DE.
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Drawdown Indicators
| SPYQ.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.44% | -43.93% | +2.49% |
Max Drawdown (1Y)Largest decline over 1 year | -13.15% | -11.63% | -1.52% |
Max Drawdown (3Y)Largest decline over 3 years | -18.37% | -15.95% | -2.42% |
Max Drawdown (5Y)Largest decline over 5 years | -29.20% | -27.52% | -1.68% |
Max Drawdown (10Y)Largest decline over 10 years | -41.44% | -43.93% | +2.49% |
Current DrawdownCurrent decline from peak | -2.67% | -1.51% | -1.16% |
Average DrawdownAverage peak-to-trough decline | -6.07% | -7.71% | +1.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 3.16% | +0.42% |
Volatility
SPYQ.DE vs. ZPRX.DE - Volatility Comparison
SPDR MSCI Europe Industrials UCITS ETF (SPYQ.DE) has a higher volatility of 6.29% compared to SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) at 4.17%. This indicates that SPYQ.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
| SPYQ.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.29% | 4.17% | +2.12% |
Volatility (6M)Calculated over the trailing 6-month period | 16.51% | 11.30% | +5.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.70% | 13.94% | +5.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.87% | 16.69% | +2.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.60% | 18.14% | +1.46% |
SPYQ.DE vs. ZPRX.DE - Expense Ratio Comparison
SPYQ.DE has a 0.18% expense ratio, which is lower than ZPRX.DE's 0.30% expense ratio.
Dividends
SPYQ.DE vs. ZPRX.DE - Dividend Comparison
Neither SPYQ.DE nor ZPRX.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYQ.DE and ZPRX.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYQ.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYQ.DE is cheaper with a 0.18% expense ratio, compared with 0.30% for ZPRX.DE.
SPYQ.DE is categorized as Industrials Equities, while ZPRX.DE is Europe Equities. SPYQ.DE tracks MSCI Europe Industrials 20/35 Capped, while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted. Their fees differ too: 0.18% for SPYQ.DE and 0.30% for ZPRX.DE.
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