ZPA5.DE vs. SPYL.DE
ZPA5.DE (Amundi S&P 500 Climate Net Zero Ambition PAB UCITS ETF Acc) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both S&P 500 funds - ZPA5.DE tracks the S&P 500 Net Zero 2050 Paris-Aligned ESG+ while SPYL.DE tracks the S&P 500 Index. Both are passively managed. Over the past year, ZPA5.DE returned 20.41% vs 25.56% for SPYL.DE. With a 0.97 correlation, they move nearly in lockstep. ZPA5.DE charges 0.07%/yr vs 0.03%/yr for SPYL.DE.
Performance
ZPA5.DE vs. SPYL.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 lower than SPYL.DE's 11.37% 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*
- —
SPYL.DE
- 1D
- -0.15%
- 1M
- 4.36%
- YTD
- 11.37%
- 6M
- 10.86%
- 1Y
- 25.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPA5.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZPA5.DE Amundi S&P 500 Climate Net Zero Ambition PAB UCITS ETF Acc | 8.46% | 2.76% | 34.10% | 9.54% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.37% | 4.71% | 32.33% | 9.54% |
Correlation
The correlation between ZPA5.DE and SPYL.DE is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.97 |
The correlation between ZPA5.DE and SPYL.DE has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
ZPA5.DE vs. SPYL.DE — Risk / Return Rank
ZPA5.DE
SPYL.DE
ZPA5.DE vs. SPYL.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 State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.41 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 3.58 | -1.37 |
| Martin ratioReturn relative to average drawdown | 7.40 | 12.72 | -5.32 |
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 | SPYL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 2.21 | -0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 1.54 | -0.53 |
Drawdowns
ZPA5.DE vs. SPYL.DE - Drawdown Comparison
The maximum ZPA5.DE drawdown since its inception was -23.13%, roughly equal to the maximum SPYL.DE drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for ZPA5.DE and SPYL.DE.
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Drawdown Indicators
| ZPA5.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.13% | -23.27% | +0.14% |
Max Drawdown (1Y)Largest decline over 1 year | -9.25% | -7.13% | -2.12% |
Max Drawdown (3Y)Largest decline over 3 years | -23.13% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.13% | — | — |
Current DrawdownCurrent decline from peak | -0.31% | -0.46% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -5.02% | -3.24% | -1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 2.01% | +0.76% |
Volatility
ZPA5.DE vs. SPYL.DE - Volatility Comparison
Amundi S&P 500 Climate Net Zero Ambition PAB UCITS ETF Acc (ZPA5.DE) and State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) have volatilities of 2.70% and 2.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPA5.DE | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.70% | 2.66% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 7.88% | 7.57% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.58% | 11.52% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.92% | 14.61% | +1.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.93% | 14.61% | +1.32% |
ZPA5.DE vs. SPYL.DE - Expense Ratio Comparison
ZPA5.DE has a 0.07% expense ratio, which is higher than SPYL.DE's 0.03% expense ratio. However, 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. SPYL.DE - Dividend Comparison
Neither ZPA5.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, ZPA5.DE and SPYL.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SPYL.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.DE is cheaper with a 0.03% expense ratio, compared with 0.07% for ZPA5.DE.
ZPA5.DE tracks S&P 500 Net Zero 2050 Paris-Aligned ESG+, while SPYL.DE tracks S&P 500 Index. They also come from different issuers: Amundi and State Street. Their fees differ too: 0.07% for ZPA5.DE and 0.03% for SPYL.DE.
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