VBR vs. ZPRV.DE

Last updated Apr 3, 2026

Compare and contrast key facts about Vanguard Small-Cap Value ETF (VBR) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (ZPRV.DE).

VBR and ZPRV.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VBR is a passively managed fund by Vanguard that tracks the performance of the CRSP US Small Cap Value Index. It was launched on Jan 26, 2004. ZPRV.DE is a passively managed fund by State Street that tracks the performance of the MSCI USA Small Cap Value Weighted Index. It was launched on Feb 18, 2015. Both VBR and ZPRV.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VBR vs. ZPRV.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Value ETF (VBR) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (ZPRV.DE). The values are adjusted to include any dividend payments, if applicable.

VBR vs. ZPRV.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBR Vanguard Small-Cap Value ETF	3.80%	9.09%	12.40%	16.00%	-9.38%	28.08%	5.90%	22.78%	-12.28%	11.81%
ZPRV.DE SPDR MSCI USA Small Cap Value Weighted UCITS ETF	3.92%	16.27%	7.55%	22.88%	-10.52%	36.39%	7.74%	24.72%	-15.93%	9.86%

Different Trading Currencies

VBR is traded in USD, while ZPRV.DE is traded in EUR. To make them comparable, the ZPRV.DE values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with VBR having a 3.80% return and ZPRV.DE slightly higher at 3.92%. Over the past 10 years, VBR has underperformed ZPRV.DE with an annualized return of 10.27%, while ZPRV.DE has yielded a comparatively higher 11.51% annualized return.

VBR

• 1D: 0.20%
• 1M: -3.26%
• YTD: 3.80%
• 6M: 5.19%
• 1Y: 17.55%
• 3Y*: 13.63%
• 5Y*: 7.68%
• 10Y*: 10.27%

ZPRV.DE

• 1D: -13.52%
• 1M: -1.55%
• YTD: 3.92%
• 6M: 8.50%
• 1Y: 26.77%
• 3Y*: 16.23%
• 5Y*: 9.21%
• 10Y*: 11.51%

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

VBR vs. ZPRV.DE - Expense Ratio Comparison

VBR has a 0.07% expense ratio, which is lower than ZPRV.DE's 0.30% expense ratio.

ZPRV.DE

SPDR MSCI USA Small Cap Value Weighted UCITS ETF

VBR

Vanguard Small-Cap Value ETF

Return for Risk

VBR vs. ZPRV.DE — Risk / Return Rank

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

VBR

VBR Risk / Return Rank: 44
VBR Sharpe Ratio Rank: 42
VBR Sortino Ratio Rank: 45
VBR Omega Ratio Rank: 42
VBR Calmar Ratio Rank: 44
VBR Martin Ratio Rank: 49

ZPRV.DE

ZPRV.DE Risk / Return Rank: 53
ZPRV.DE Sharpe Ratio Rank: 30
ZPRV.DE Sortino Ratio Rank: 33
ZPRV.DE Omega Ratio Rank: 42
ZPRV.DE Calmar Ratio Rank: 73
ZPRV.DE Martin Ratio Rank: 88

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.

VBR vs. ZPRV.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value ETF (VBR) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (ZPRV.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.

	VBR	ZPRV.DE	Difference
Sharpe ratio Return per unit of total volatility	0.86	0.88	-0.03
Sortino ratio Return per unit of downside risk	1.33	1.42	-0.08
Omega ratio Gain probability vs. loss probability	1.18	1.24	-0.06
Calmar ratio Return relative to maximum drawdown	1.37	2.58	-1.21
Martin ratio Return relative to average drawdown	5.57	13.00	-7.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VBR vs. ZPRV.DE - Sharpe Ratio Comparison

The current VBR Sharpe Ratio is 0.86, which is comparable to the ZPRV.DE Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of VBR and ZPRV.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VBR	ZPRV.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	0.88	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.39	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.49	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.43	-0.02

Correlation

The correlation between VBR and ZPRV.DE is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VBR vs. ZPRV.DE - Dividend Comparison

VBR's dividend yield for the trailing twelve months is around 1.89%, while ZPRV.DE has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBR Vanguard Small-Cap Value ETF	1.89%	1.95%	1.98%	2.12%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%
ZPRV.DE SPDR MSCI USA 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%

Drawdowns

VBR vs. ZPRV.DE - Drawdown Comparison

The maximum VBR drawdown since its inception was -61.98%, which is greater than ZPRV.DE's maximum drawdown of -49.34%. Use the drawdown chart below to compare losses from any high point for VBR and ZPRV.DE.

Drawdown Indicators

	VBR	ZPRV.DE	Difference
Max Drawdown Largest peak-to-trough decline	-61.98%	-46.04%	-15.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	-13.13%	+4.28%
Max Drawdown (5Y) Largest decline over 5 years	-24.19%	-31.14%	+6.95%
Max Drawdown (10Y) Largest decline over 10 years	-45.28%	-46.04%	+0.76%
Current Drawdown Current decline from peak	-5.56%	-13.13%	+7.57%
Average Drawdown Average peak-to-trough decline	-8.32%	-8.47%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	2.42%	+1.06%

Volatility

VBR vs. ZPRV.DE - Volatility Comparison

The current volatility for Vanguard Small-Cap Value ETF (VBR) is 5.39%, while SPDR MSCI USA Small Cap Value Weighted UCITS ETF (ZPRV.DE) has a volatility of 22.46%. This indicates that VBR experiences smaller price fluctuations and is considered to be less risky than ZPRV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBR	ZPRV.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.39%	22.46%	-17.07%
Volatility (6M) Calculated over the trailing 6-month period	11.28%	24.28%	-13.00%
Volatility (1Y) Calculated over the trailing 1-year period	20.64%	30.13%	-9.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.84%	23.62%	-3.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.73%	24.20%	-2.47%