SPYW.DE vs. ZPRC.DE
SPYW.DE (SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist)) and ZPRC.DE (SPDR Refinitiv Global Convertible Bond UCITS ETF) are both exchange-traded funds - SPYW.DE is a Europe Equities fund tracking the S&P Euro High Yield Dividend Aristocrats, while ZPRC.DE is a Convertible Bonds fund tracking the Refinitiv Qualified Global Convertible. Both are passively managed. Over the past 10 years, SPYW.DE returned 7.74%/yr vs 8.65%/yr for ZPRC.DE. At a 0.41 correlation, their price movements are largely independent. SPYW.DE charges 0.30%/yr vs 0.50%/yr for ZPRC.DE.
Performance
SPYW.DE vs. ZPRC.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYW.DE achieves a 9.29% return, which is significantly lower than ZPRC.DE's 17.50% return. Over the past 10 years, SPYW.DE has underperformed ZPRC.DE with an annualized return of 7.74%, while ZPRC.DE has yielded a comparatively higher 8.65% annualized return.
SPYW.DE
- 1D
- 0.54%
- 1M
- 3.80%
- 6M
- 8.97%
- YTD
- 9.29%
- 1Y
- 12.97%
- 3Y*
- 14.82%
- 5Y*
- 8.95%
- 10Y*
- 7.74%
ZPRC.DE
- 1D
- -0.44%
- 1M
- -1.88%
- 6M
- 16.51%
- YTD
- 17.50%
- 1Y
- 32.23%
- 3Y*
- 15.50%
- 5Y*
- 6.37%
- 10Y*
- 8.65%
SPYW.DE vs. ZPRC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) | 9.29% | 20.21% | 8.31% | 17.92% | -11.22% | 14.38% | -11.88% | 23.33% | -8.56% | 11.23% |
ZPRC.DE SPDR Refinitiv Global Convertible Bond UCITS ETF | 17.50% | 11.34% | 13.72% | 10.52% | -15.60% | 5.44% | 24.70% | 16.78% | -1.21% | -1.51% |
Correlation
The correlation between SPYW.DE and ZPRC.DE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Oct 14, 2014 | 0.41 |
The correlation between SPYW.DE and ZPRC.DE shifts across timeframes, from 0.20 (3 years) to 0.41 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPYW.DE vs. ZPRC.DE — Risk / Return Rank
SPYW.DE
ZPRC.DE
SPYW.DE vs. ZPRC.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.DE) and SPDR Refinitiv Global Convertible Bond UCITS ETF (ZPRC.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SPYW.DE | ZPRC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.46 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 6.68 | -5.06 |
| Martin ratioReturn relative to average drawdown | 5.40 | 22.63 | -17.23 |
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Drawdowns
SPYW.DE vs. ZPRC.DE - Drawdown Comparison
The maximum SPYW.DE drawdown since its inception was -38.67%, which is greater than ZPRC.DE's maximum drawdown of -23.48%. Use the drawdown chart below to compare losses from any high point for SPYW.DE and ZPRC.DE.
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Drawdown Indicators
| SPYW.DE | ZPRC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.67% | -23.48% | -15.19% |
Max Drawdown (1Y)Largest decline over 1 year | -7.99% | -4.80% | -3.19% |
Max Drawdown (3Y)Largest decline over 3 years | -11.64% | -12.99% | +1.35% |
Max Drawdown (5Y)Largest decline over 5 years | -23.99% | -20.71% | -3.28% |
Max Drawdown (10Y)Largest decline over 10 years | -38.67% | -23.48% | -15.19% |
Current DrawdownCurrent decline from peak | 0.00% | -3.19% | +3.19% |
Average DrawdownAverage peak-to-trough decline | -5.58% | -8.40% | +2.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.40% | 1.42% | +0.98% |
Volatility
SPYW.DE vs. ZPRC.DE - Volatility Comparison
The current volatility for SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.DE) is 2.20%, while SPDR Refinitiv Global Convertible Bond UCITS ETF (ZPRC.DE) has a volatility of 3.67%. This indicates that SPYW.DE experiences smaller price fluctuations and is considered to be less risky than ZPRC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYW.DE | ZPRC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.20% | 3.67% | -1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 8.91% | 9.83% | -0.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.61% | 12.02% | -1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.27% | 10.62% | +2.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.62% | 14.21% | +0.41% |
SPYW.DE vs. ZPRC.DE - Expense Ratio Comparison
SPYW.DE has a 0.30% expense ratio, which is lower than ZPRC.DE's 0.50% expense ratio.
Dividends
SPYW.DE vs. ZPRC.DE - Dividend Comparison
SPYW.DE's dividend yield for the trailing twelve months is around 3.47%, more than ZPRC.DE's 0.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) | 3.47% | 4.07% | 3.67% | 3.31% | 3.62% | 2.78% | 3.05% | 3.10% | 3.74% | 3.15% | 2.97% | 2.99% |
ZPRC.DE SPDR Refinitiv Global Convertible Bond UCITS ETF | 0.58% | 0.68% | 0.46% | 0.22% | 0.24% | 0.16% | 0.32% | 0.41% | 0.36% | 0.51% | 0.61% | 0.69% |
Frequently Asked Questions
SPYW.DE and ZPRC.DE have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYW.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYW.DE is cheaper with a 0.30% expense ratio, compared with 0.50% for ZPRC.DE.
SPYW.DE is categorized as Europe Equities, while ZPRC.DE is Convertible Bonds. SPYW.DE tracks S&P Euro High Yield Dividend Aristocrats, while ZPRC.DE tracks Refinitiv Qualified Global Convertible. Their fees differ too: 0.30% for SPYW.DE and 0.50% for ZPRC.DE.
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