ZPDE.DE vs. SMLD.DE
ZPDE.DE (SPDR S&P US Energy Select Sector UCITS ETF) and SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) are both Energy Equities funds - ZPDE.DE tracks the S&P Energy Select Sector while SMLD.DE tracks the Morningstar MLP Composite. Both are passively managed. Over the past 10 years, ZPDE.DE returned 9.33%/yr vs 15.33%/yr for SMLD.DE. A 0.69 correlation means they provide meaningful diversification when combined. ZPDE.DE charges 0.15%/yr vs 0.50%/yr for SMLD.DE.
Performance
ZPDE.DE vs. SMLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPDE.DE achieves a 32.72% return, which is significantly higher than SMLD.DE's 20.75% return. Over the past 10 years, ZPDE.DE has underperformed SMLD.DE with an annualized return of 9.33%, while SMLD.DE has yielded a comparatively higher 15.33% annualized return.
ZPDE.DE
- 1D
- -0.53%
- 1M
- -0.30%
- YTD
- 32.72%
- 6M
- 29.61%
- 1Y
- 43.77%
- 3Y*
- 14.16%
- 5Y*
- 21.32%
- 10Y*
- 9.33%
SMLD.DE
- 1D
- -0.66%
- 1M
- 0.52%
- YTD
- 20.75%
- 6M
- 14.96%
- 1Y
- 13.71%
- 3Y*
- 20.56%
- 5Y*
- 25.24%
- 10Y*
- 15.33%
ZPDE.DE vs. SMLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZPDE.DE SPDR S&P US Energy Select Sector UCITS ETF | 32.72% | -2.67% | 9.39% | -2.97% | 71.20% | 66.70% | -38.96% | 13.17% | -14.79% | -13.20% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 20.75% | -8.86% | 35.22% | 27.59% | 49.18% | 62.11% | -27.45% | 24.27% | -4.73% | -12.47% |
Correlation
The correlation between ZPDE.DE and SMLD.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 | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2015 | 0.69 |
The correlation between ZPDE.DE and SMLD.DE has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.
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Return for Risk
ZPDE.DE vs. SMLD.DE — Risk / Return Rank
ZPDE.DE
SMLD.DE
ZPDE.DE vs. SMLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P US Energy Select Sector UCITS ETF (ZPDE.DE) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.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.
| ZPDE.DE | SMLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.31 | ||
| Sortino ratioReturn per unit of downside risk | +1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.15 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | 0.92 | +1.61 |
| Martin ratioReturn relative to average drawdown | 8.09 | 1.91 | +6.18 |
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
| ZPDE.DE | SMLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | 0.51 | +1.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.78 | 1.10 | -0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 0.44 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.29 | -0.03 |
Drawdowns
ZPDE.DE vs. SMLD.DE - Drawdown Comparison
The maximum ZPDE.DE drawdown since its inception was -65.58%, smaller than the maximum SMLD.DE drawdown of -73.78%. Use the drawdown chart below to compare losses from any high point for ZPDE.DE and SMLD.DE.
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Drawdown Indicators
| ZPDE.DE | SMLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.58% | -73.78% | +8.20% |
Max Drawdown (1Y)Largest decline over 1 year | -17.16% | -14.77% | -2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -26.97% | -22.99% | -3.98% |
Max Drawdown (5Y)Largest decline over 5 years | -26.97% | -22.99% | -3.98% |
Max Drawdown (10Y)Largest decline over 10 years | -65.58% | -70.79% | +5.21% |
Current DrawdownCurrent decline from peak | -8.87% | -3.47% | -5.40% |
Average DrawdownAverage peak-to-trough decline | -17.28% | -17.76% | +0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.40% | 7.16% | -1.76% |
Volatility
ZPDE.DE vs. SMLD.DE - Volatility Comparison
SPDR S&P US Energy Select Sector UCITS ETF (ZPDE.DE) has a higher volatility of 7.53% compared to Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) at 5.38%. This indicates that ZPDE.DE's price experiences larger fluctuations and is considered to be riskier than SMLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPDE.DE | SMLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.53% | 5.38% | +2.15% |
Volatility (6M)Calculated over the trailing 6-month period | 20.35% | 12.79% | +7.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.96% | 26.64% | -2.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.90% | 22.60% | +4.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.89% | 34.70% | -5.81% |
ZPDE.DE vs. SMLD.DE - Expense Ratio Comparison
ZPDE.DE has a 0.15% expense ratio, which is lower than SMLD.DE's 0.50% expense ratio.
Dividends
ZPDE.DE vs. SMLD.DE - Dividend Comparison
ZPDE.DE has not paid dividends to shareholders, while SMLD.DE's dividend yield for the trailing twelve months is around 7.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.55% | 8.45% | 12.45% | 18.33% | 14.40% | 17.94% | 25.01% | 18.21% | 21.61% | 18.39% | 14.39% | 20.63% |
ZPDE.DE SPDR S&P US Energy Select Sector 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
ZPDE.DE and SMLD.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.
On fees, ZPDE.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPDE.DE is cheaper with a 0.15% expense ratio, compared with 0.50% for SMLD.DE.
ZPDE.DE tracks S&P Energy Select Sector, while SMLD.DE tracks Morningstar MLP Composite. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.15% for ZPDE.DE and 0.50% for SMLD.DE.
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