SPYW.DE vs. ZPRX.DE
SPYW.DE (SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist)) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both Europe Equities funds from State Street - SPYW.DE tracks the S&P Euro High Yield Dividend Aristocrats while ZPRX.DE tracks the MSCI Europe Small Cap Value Weighted. Both are passively managed. Over the past 10 years, SPYW.DE returned 6.79%/yr vs 8.15%/yr for ZPRX.DE. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.30% expense ratio.
Performance
SPYW.DE vs. ZPRX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYW.DE achieves a 5.36% return, which is significantly lower than ZPRX.DE's 7.81% return. Over the past 10 years, SPYW.DE has underperformed ZPRX.DE with an annualized return of 6.79%, while ZPRX.DE has yielded a comparatively higher 8.15% annualized return.
SPYW.DE
- 1D
- 0.09%
- 1M
- -0.36%
- YTD
- 5.36%
- 6M
- 7.28%
- 1Y
- 7.88%
- 3Y*
- 13.21%
- 5Y*
- 8.07%
- 10Y*
- 6.79%
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%
SPYW.DE vs. ZPRX.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) | 5.36% | 20.24% | 8.29% | 17.93% | -11.23% | 14.36% | -11.84% | 23.34% | -8.58% | 11.23% |
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 SPYW.DE and ZPRX.DE is 0.73, 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 | 0.73 |
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 | 0.80 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2015 | 0.82 |
The correlation between SPYW.DE and ZPRX.DE has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.
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Return for Risk
SPYW.DE vs. ZPRX.DE — Risk / Return Rank
SPYW.DE
ZPRX.DE
SPYW.DE vs. ZPRX.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 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.
| SPYW.DE | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.22 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.98 | 1.47 | -0.49 |
| Martin ratioReturn relative to average drawdown | 3.14 | 5.42 | -2.28 |
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
| SPYW.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.74 | 1.23 | -0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.46 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.45 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.39 | +0.14 |
Drawdowns
SPYW.DE vs. ZPRX.DE - Drawdown Comparison
The maximum SPYW.DE drawdown since its inception was -38.68%, smaller than the maximum ZPRX.DE drawdown of -43.93%. Use the drawdown chart below to compare losses from any high point for SPYW.DE and ZPRX.DE.
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Drawdown Indicators
| SPYW.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.68% | -43.93% | +5.25% |
Max Drawdown (1Y)Largest decline over 1 year | -7.99% | -11.63% | +3.64% |
Max Drawdown (3Y)Largest decline over 3 years | -11.64% | -15.95% | +4.31% |
Max Drawdown (5Y)Largest decline over 5 years | -23.97% | -27.52% | +3.55% |
Max Drawdown (10Y)Largest decline over 10 years | -38.68% | -43.93% | +5.25% |
Current DrawdownCurrent decline from peak | -2.54% | -1.51% | -1.03% |
Average DrawdownAverage peak-to-trough decline | -5.62% | -7.71% | +2.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 3.16% | -0.66% |
Volatility
SPYW.DE vs. ZPRX.DE - Volatility Comparison
The current volatility for SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.DE) is 2.92%, while SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) has a volatility of 4.17%. This indicates that SPYW.DE experiences smaller price fluctuations and is considered to be less risky 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
| SPYW.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.92% | 4.17% | -1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 8.76% | 11.30% | -2.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.65% | 13.94% | -3.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.27% | 16.69% | -3.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.88% | 18.14% | -3.26% |
SPYW.DE vs. ZPRX.DE - Expense Ratio Comparison
Both SPYW.DE and ZPRX.DE have an expense ratio of 0.30%.
Dividends
SPYW.DE vs. ZPRX.DE - Dividend Comparison
SPYW.DE's dividend yield for the trailing twelve months is around 3.60%, while ZPRX.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) | 3.60% | 4.07% | 3.67% | 3.31% | 3.62% | 2.78% | 3.05% | 3.10% | 3.74% | 3.15% | 2.97% | 2.99% |
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPYW.DE and ZPRX.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SPYW.DE and ZPRX.DE have the same expense ratio: 0.30% per year.
SPYW.DE tracks S&P Euro High Yield Dividend Aristocrats, while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted.
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