ZPAB.DE vs. XB4A.DE
ZPAB.DE (Amundi S&P Eurozone PAB Net Zero Ambition UCITS ETF Acc) and XB4A.DE (Xtrackers ATX UCITS ETF (Acc)) are both Europe Equities funds - ZPAB.DE tracks the S&P Eurozone LargeMidCap Paris-Aligned Climate while XB4A.DE tracks the ATX Index. Both are passively managed. Over the past 5 years, ZPAB.DE returned 10.22%/yr vs 17.80%/yr for XB4A.DE. A 0.73 correlation means they provide meaningful diversification when combined. ZPAB.DE charges 0.20%/yr vs 0.25%/yr for XB4A.DE.
Performance
ZPAB.DE vs. XB4A.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPAB.DE achieves a 8.38% return, which is significantly lower than XB4A.DE's 22.80% return.
ZPAB.DE
- 1D
- -1.16%
- 1M
- -2.06%
- 6M
- 5.51%
- YTD
- 8.38%
- 1Y
- 16.39%
- 3Y*
- 15.96%
- 5Y*
- 10.22%
- 10Y*
- —
XB4A.DE
- 1D
- -1.41%
- 1M
- -2.86%
- 6M
- 19.27%
- YTD
- 22.80%
- 1Y
- 45.21%
- 3Y*
- 30.57%
- 5Y*
- 17.80%
- 10Y*
- 14.60%
ZPAB.DE vs. XB4A.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZPAB.DE Amundi S&P Eurozone PAB Net Zero Ambition UCITS ETF Acc | 8.38% | 22.01% | 13.92% | 22.06% | -17.12% | 24.77% | 9.80% |
XB4A.DE Xtrackers ATX UCITS ETF (Acc) | 22.80% | 51.29% | 11.01% | 14.27% | -16.45% | 42.39% | 24.33% |
Correlation
The correlation between ZPAB.DE and XB4A.DE is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 2020 | 0.73 |
The correlation between ZPAB.DE and XB4A.DE has been stable across timeframes, ranging from 0.71 to 0.75 - a consistent structural relationship.
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Return for Risk
ZPAB.DE vs. XB4A.DE — Risk / Return Rank
ZPAB.DE
XB4A.DE
ZPAB.DE vs. XB4A.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi S&P Eurozone PAB Net Zero Ambition UCITS ETF Acc (ZPAB.DE) and Xtrackers ATX UCITS ETF (Acc) (XB4A.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.
| ZPAB.DE | XB4A.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.53 | ||
| Sortino ratioReturn per unit of downside risk | -2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.43 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 4.13 | -2.67 |
| Martin ratioReturn relative to average drawdown | 5.24 | 13.97 | -8.73 |
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Drawdowns
ZPAB.DE vs. XB4A.DE - Drawdown Comparison
The maximum ZPAB.DE drawdown since its inception was -28.69%, smaller than the maximum XB4A.DE drawdown of -53.54%. Use the drawdown chart below to compare losses from any high point for ZPAB.DE and XB4A.DE.
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Drawdown Indicators
| ZPAB.DE | XB4A.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.69% | -53.54% | +24.85% |
Max Drawdown (1Y)Largest decline over 1 year | -11.18% | -10.88% | -0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -16.25% | -16.26% | +0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -28.69% | -32.50% | +3.81% |
Max Drawdown (10Y)Largest decline over 10 years | — | -53.54% | — |
Current DrawdownCurrent decline from peak | -2.41% | -3.43% | +1.02% |
Average DrawdownAverage peak-to-trough decline | -5.63% | -9.88% | +4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 3.23% | -0.11% |
Volatility
ZPAB.DE vs. XB4A.DE - Volatility Comparison
The current volatility for Amundi S&P Eurozone PAB Net Zero Ambition UCITS ETF Acc (ZPAB.DE) is 3.89%, while Xtrackers ATX UCITS ETF (Acc) (XB4A.DE) has a volatility of 4.97%. This indicates that ZPAB.DE experiences smaller price fluctuations and is considered to be less risky than XB4A.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPAB.DE | XB4A.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.89% | 4.97% | -1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 13.69% | 14.95% | -1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.04% | 17.66% | -1.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 19.15% | -2.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 20.15% | -3.25% |
ZPAB.DE vs. XB4A.DE - Expense Ratio Comparison
ZPAB.DE has a 0.20% expense ratio, which is lower than XB4A.DE's 0.25% 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
ZPAB.DE vs. XB4A.DE - Dividend Comparison
Neither ZPAB.DE nor XB4A.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPAB.DE and XB4A.DE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPAB.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPAB.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for XB4A.DE.
ZPAB.DE tracks S&P Eurozone LargeMidCap Paris-Aligned Climate, while XB4A.DE tracks ATX Index. They also come from different issuers: Amundi and Xtrackers. Their fees differ too: 0.20% for ZPAB.DE and 0.25% for XB4A.DE.
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