ZPDE.DE vs. SMLP.DE
ZPDE.DE (SPDR S&P US Energy Select Sector UCITS ETF) and SMLP.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Acc) are both Energy Equities funds - ZPDE.DE tracks the S&P Energy Select Sector while SMLP.DE tracks the Morningstar MLP Composite. Both are passively managed. Over the past 10 years, ZPDE.DE returned 9.33%/yr vs 6.71%/yr for SMLP.DE. A 0.75 correlation means they provide meaningful diversification when combined. ZPDE.DE charges 0.15%/yr vs 0.50%/yr for SMLP.DE.
Performance
ZPDE.DE vs. SMLP.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 SMLP.DE's 21.07% return. Over the past 10 years, ZPDE.DE has outperformed SMLP.DE with an annualized return of 9.33%, while SMLP.DE has yielded a comparatively lower 6.71% 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%
SMLP.DE
- 1D
- -0.67%
- 1M
- 0.55%
- YTD
- 21.07%
- 6M
- 14.97%
- 1Y
- 13.65%
- 3Y*
- 15.69%
- 5Y*
- 18.35%
- 10Y*
- 6.71%
ZPDE.DE vs. SMLP.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% |
SMLP.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Acc | 21.07% | -9.11% | 28.88% | 15.48% | 39.72% | 46.65% | -37.48% | 12.48% | -11.75% | -19.80% |
Correlation
The correlation between ZPDE.DE and SMLP.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 | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2015 | 0.75 |
The correlation between ZPDE.DE and SMLP.DE has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.
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Return for Risk
ZPDE.DE vs. SMLP.DE — Risk / Return Rank
ZPDE.DE
SMLP.DE
ZPDE.DE vs. SMLP.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 Acc (SMLP.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 | SMLP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.15 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | 1.41 | +1.13 |
| Martin ratioReturn relative to average drawdown | 8.09 | 3.20 | +4.89 |
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 | SMLP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | 0.83 | +0.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.78 | 0.89 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 0.23 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.10 | +0.16 |
Drawdowns
ZPDE.DE vs. SMLP.DE - Drawdown Comparison
The maximum ZPDE.DE drawdown since its inception was -65.58%, smaller than the maximum SMLP.DE drawdown of -79.34%. Use the drawdown chart below to compare losses from any high point for ZPDE.DE and SMLP.DE.
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Drawdown Indicators
| ZPDE.DE | SMLP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.58% | -79.34% | +13.76% |
Max Drawdown (1Y)Largest decline over 1 year | -17.16% | -9.62% | -7.54% |
Max Drawdown (3Y)Largest decline over 3 years | -26.97% | -22.58% | -4.39% |
Max Drawdown (5Y)Largest decline over 5 years | -26.97% | -22.58% | -4.39% |
Max Drawdown (10Y)Largest decline over 10 years | -65.58% | -76.25% | +10.67% |
Current DrawdownCurrent decline from peak | -8.87% | -3.45% | -5.42% |
Average DrawdownAverage peak-to-trough decline | -17.28% | -25.61% | +8.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.40% | 4.25% | +1.15% |
Volatility
ZPDE.DE vs. SMLP.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 Acc (SMLP.DE) at 5.21%. This indicates that ZPDE.DE's price experiences larger fluctuations and is considered to be riskier than SMLP.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 | SMLP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.53% | 5.21% | +2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 20.35% | 12.78% | +7.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.96% | 16.31% | +7.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.90% | 20.44% | +6.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.89% | 28.59% | +0.30% |
ZPDE.DE vs. SMLP.DE - Expense Ratio Comparison
ZPDE.DE has a 0.15% expense ratio, which is lower than SMLP.DE's 0.50% expense ratio.
Dividends
ZPDE.DE vs. SMLP.DE - Dividend Comparison
Neither ZPDE.DE nor SMLP.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPDE.DE and SMLP.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, 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 SMLP.DE.
ZPDE.DE tracks S&P Energy Select Sector, while SMLP.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 SMLP.DE.
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