SPYU.DE vs. ZPRX.DE

Last updated Jun 5, 2026

SPYU.DE (SPDR MSCI Europe Utilities UCITS ETF) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - SPYU.DE is a Utilities Equities fund tracking the MSCI Europe Utilities 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, SPYU.DE returned 10.70%/yr vs 8.15%/yr for ZPRX.DE. A 0.50 correlation means they provide meaningful diversification when combined. SPYU.DE charges 0.18%/yr vs 0.30%/yr for ZPRX.DE.

Performance

SPYU.DE vs. ZPRX.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI Europe Utilities UCITS ETF (SPYU.DE) and SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYU.DE achieves a 13.06% return, which is significantly higher than ZPRX.DE's 7.81% return. Over the past 10 years, SPYU.DE has outperformed ZPRX.DE with an annualized return of 10.70%, while ZPRX.DE has yielded a comparatively lower 8.15% annualized return.

SPYU.DE

• 1D: -0.28%
• 1M: -3.02%
• YTD: 13.06%
• 6M: 14.07%
• 1Y: 26.75%
• 3Y*: 16.61%
• 5Y*: 11.82%
• 10Y*: 10.70%

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPYU.DE vs. ZPRX.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYU.DE SPDR MSCI Europe Utilities UCITS ETF	13.06%	34.39%	0.99%	13.57%	-7.97%	8.80%	11.01%	31.91%	2.41%	9.05%
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 SPYU.DE and ZPRX.DE is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Feb 20, 2015	0.50

Over the past year, the correlation between SPYU.DE and ZPRX.DE has dropped to 0.28 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.

Return for Risk

SPYU.DE vs. ZPRX.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPYU.DE

SPYU.DE Risk / Return Rank: 57
SPYU.DE Sharpe Ratio Rank: 53
SPYU.DE Sortino Ratio Rank: 49
SPYU.DE Omega Ratio Rank: 53
SPYU.DE Calmar Ratio Rank: 72
SPYU.DE Martin Ratio Rank: 58

ZPRX.DE

ZPRX.DE Risk / Return Rank: 34
ZPRX.DE Sharpe Ratio Rank: 35
ZPRX.DE Sortino Ratio Rank: 35
ZPRX.DE Omega Ratio Rank: 34
ZPRX.DE Calmar Ratio Rank: 31
ZPRX.DE Martin Ratio Rank: 36

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPYU.DE vs. ZPRX.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Utilities UCITS ETF (SPYU.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.

	SPYU.DE	ZPRX.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.23	+0.56
Sortino ratio: Return per unit of downside risk	2.37	1.82	+0.55
Omega ratio: Gain probability vs. loss probability	1.33	1.22	+0.10
Calmar ratio: Return relative to maximum drawdown	3.59	1.47	+2.12
Martin ratio: Return relative to average drawdown	10.13	5.42	+4.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYU.DE vs. ZPRX.DE - Sharpe Ratio Comparison

The current SPYU.DE Sharpe Ratio is 1.79, which is higher than the ZPRX.DE Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of SPYU.DE and ZPRX.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPYU.DE	ZPRX.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	1.23	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.46	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.45	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.39	+0.18

Drawdowns

SPYU.DE vs. ZPRX.DE - Drawdown Comparison

The maximum SPYU.DE drawdown since its inception was -32.98%, smaller than the maximum ZPRX.DE drawdown of -43.93%. Use the drawdown chart below to compare losses from any high point for SPYU.DE and ZPRX.DE.

Drawdown Indicators

	SPYU.DE	ZPRX.DE	Difference
Max Drawdown Largest peak-to-trough decline	-32.98%	-43.93%	+10.95%
Max Drawdown (1Y) Largest decline over 1 year	-7.43%	-11.63%	+4.20%
Max Drawdown (3Y) Largest decline over 3 years	-13.44%	-15.95%	+2.51%
Max Drawdown (5Y) Largest decline over 5 years	-22.28%	-27.52%	+5.24%
Max Drawdown (10Y) Largest decline over 10 years	-32.98%	-43.93%	+10.95%
Current Drawdown Current decline from peak	-5.24%	-1.51%	-3.73%
Average Drawdown Average peak-to-trough decline	-5.63%	-7.71%	+2.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	3.16%	-0.53%

Volatility

SPYU.DE vs. ZPRX.DE - Volatility Comparison

SPDR MSCI Europe Utilities UCITS ETF (SPYU.DE) has a higher volatility of 5.85% compared to SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) at 4.17%. This indicates that SPYU.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.

Volatility by Period

	SPYU.DE	ZPRX.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.85%	4.17%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	12.96%	11.30%	+1.66%
Volatility (1Y) Calculated over the trailing 1-year period	14.86%	13.94%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.01%	16.69%	-0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.05%	18.14%	-1.09%

SPYU.DE vs. ZPRX.DE - Expense Ratio Comparison

SPYU.DE has a 0.18% expense ratio, which is lower than ZPRX.DE's 0.30% expense ratio.

Dividends

SPYU.DE vs. ZPRX.DE - Dividend Comparison

Neither SPYU.DE nor ZPRX.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SPYU.DE and ZPRX.DE in my portfolio?

SPYU.DE and ZPRX.DE have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPYU.DE or ZPRX.DE?

On fees, SPYU.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPYU.DE or ZPRX.DE?

SPYU.DE is cheaper with a 0.18% expense ratio, compared with 0.30% for ZPRX.DE.

What is the main difference between SPYU.DE and ZPRX.DE?

SPYU.DE is categorized as Utilities Equities, while ZPRX.DE is Europe Equities. SPYU.DE tracks MSCI Europe Utilities 20/35 Capped, while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted. Their fees differ too: 0.18% for SPYU.DE and 0.30% for ZPRX.DE.