ZPA5.DE vs. IBCK.DE
ZPA5.DE (Amundi S&P 500 Climate Net Zero Ambition PAB UCITS ETF Acc) and IBCK.DE (iShares Edge S&P 500 Minimum Volatility UCITS ETF (Acc)) are both S&P 500 funds - ZPA5.DE tracks the S&P 500 Net Zero 2050 Paris-Aligned ESG+ while IBCK.DE tracks the S&P 500 Minimum Volatility. Both are passively managed. Over the past 5 years, ZPA5.DE returned 13.96%/yr vs 9.91%/yr for IBCK.DE. Their correlation of 0.83 suggests significant overlap in exposure. ZPA5.DE charges 0.07%/yr vs 0.20%/yr for IBCK.DE.
Performance
ZPA5.DE vs. IBCK.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPA5.DE achieves a 8.46% return, which is significantly higher than IBCK.DE's 5.14% return.
ZPA5.DE
- 1D
- 0.07%
- 1M
- 5.23%
- YTD
- 8.46%
- 6M
- 7.93%
- 1Y
- 20.41%
- 3Y*
- 17.74%
- 5Y*
- 13.96%
- 10Y*
- —
IBCK.DE
- 1D
- 0.27%
- 1M
- 4.61%
- YTD
- 5.14%
- 6M
- 5.32%
- 1Y
- 9.77%
- 3Y*
- 10.94%
- 5Y*
- 9.91%
- 10Y*
- 10.32%
ZPA5.DE vs. IBCK.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZPA5.DE Amundi S&P 500 Climate Net Zero Ambition PAB UCITS ETF Acc | 8.46% | 2.76% | 34.10% | 25.83% | -18.14% | 43.33% | 9.00% |
IBCK.DE iShares Edge S&P 500 Minimum Volatility UCITS ETF (Acc) | 5.14% | -0.69% | 25.61% | 6.20% | -6.04% | 35.73% | 3.69% |
Correlation
The correlation between ZPA5.DE and IBCK.DE is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2020 | 0.83 |
The correlation between ZPA5.DE and IBCK.DE has been stable across timeframes, ranging from 0.78 to 0.83 - a consistent structural relationship.
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Return for Risk
ZPA5.DE vs. IBCK.DE — Risk / Return Rank
ZPA5.DE
IBCK.DE
ZPA5.DE vs. IBCK.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi S&P 500 Climate Net Zero Ambition PAB UCITS ETF Acc (ZPA5.DE) and iShares Edge S&P 500 Minimum Volatility UCITS ETF (Acc) (IBCK.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.
| ZPA5.DE | IBCK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.19 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 1.83 | +0.38 |
| Martin ratioReturn relative to average drawdown | 7.40 | 5.31 | +2.09 |
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
| ZPA5.DE | IBCK.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 1.07 | +0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | 0.79 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 0.88 | +0.12 |
Drawdowns
ZPA5.DE vs. IBCK.DE - Drawdown Comparison
The maximum ZPA5.DE drawdown since its inception was -23.13%, smaller than the maximum IBCK.DE drawdown of -33.11%. Use the drawdown chart below to compare losses from any high point for ZPA5.DE and IBCK.DE.
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Drawdown Indicators
| ZPA5.DE | IBCK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.13% | -33.11% | +9.98% |
Max Drawdown (1Y)Largest decline over 1 year | -9.25% | -5.08% | -4.17% |
Max Drawdown (3Y)Largest decline over 3 years | -23.13% | -17.55% | -5.58% |
Max Drawdown (5Y)Largest decline over 5 years | -23.13% | -17.55% | -5.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.11% | — |
Current DrawdownCurrent decline from peak | -0.31% | -0.47% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -5.02% | -4.50% | -0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 1.75% | +1.02% |
Volatility
ZPA5.DE vs. IBCK.DE - Volatility Comparison
Amundi S&P 500 Climate Net Zero Ambition PAB UCITS ETF Acc (ZPA5.DE) has a higher volatility of 2.70% compared to iShares Edge S&P 500 Minimum Volatility UCITS ETF (Acc) (IBCK.DE) at 2.26%. This indicates that ZPA5.DE's price experiences larger fluctuations and is considered to be riskier than IBCK.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPA5.DE | IBCK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.70% | 2.26% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 7.88% | 5.71% | +2.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.58% | 8.73% | +2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.92% | 12.37% | +3.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.93% | 14.02% | +1.91% |
ZPA5.DE vs. IBCK.DE - Expense Ratio Comparison
ZPA5.DE has a 0.07% expense ratio, which is lower than IBCK.DE's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ZPA5.DE vs. IBCK.DE - Dividend Comparison
Neither ZPA5.DE nor IBCK.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPA5.DE and IBCK.DE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPA5.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPA5.DE is cheaper with a 0.07% expense ratio, compared with 0.20% for IBCK.DE.
ZPA5.DE tracks S&P 500 Net Zero 2050 Paris-Aligned ESG+, while IBCK.DE tracks S&P 500 Minimum Volatility. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.07% for ZPA5.DE and 0.20% for IBCK.DE.
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