ZPDJ.DE vs. SPYL.DE
ZPDJ.DE (SPDR MSCI Japan UCITS ETF) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - ZPDJ.DE is a Japan Equities fund tracking the MSCI Japan, while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, ZPDJ.DE returned 30.67% vs 25.61% for SPYL.DE. A 0.53 correlation means they provide meaningful diversification when combined. ZPDJ.DE charges 0.12%/yr vs 0.03%/yr for SPYL.DE.
Performance
ZPDJ.DE vs. SPYL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPDJ.DE achieves a 16.79% return, which is significantly higher than SPYL.DE's 11.37% return.
ZPDJ.DE
- 1D
- -0.45%
- 1M
- 6.00%
- YTD
- 16.79%
- 6M
- 16.66%
- 1Y
- 30.67%
- 3Y*
- 15.52%
- 5Y*
- 10.06%
- 10Y*
- 9.18%
SPYL.DE
- 1D
- -0.15%
- 1M
- 5.19%
- YTD
- 11.37%
- 6M
- 11.41%
- 1Y
- 25.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPDJ.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZPDJ.DE SPDR MSCI Japan UCITS ETF | 16.79% | 12.60% | 13.75% | 4.43% |
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 ZPDJ.DE and SPYL.DE is 0.52, 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 | 0.52 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.53 |
The correlation between ZPDJ.DE and SPYL.DE has been stable across timeframes, ranging from 0.52 to 0.53 - a consistent structural relationship.
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Return for Risk
ZPDJ.DE vs. SPYL.DE — Risk / Return Rank
ZPDJ.DE
SPYL.DE
ZPDJ.DE vs. SPYL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Japan UCITS ETF (ZPDJ.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.
| ZPDJ.DE | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.41 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 3.58 | -0.52 |
| Martin ratioReturn relative to average drawdown | 9.86 | 12.72 | -2.86 |
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
| ZPDJ.DE | SPYL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 2.21 | -0.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 1.54 | -1.10 |
Drawdowns
ZPDJ.DE vs. SPYL.DE - Drawdown Comparison
The maximum ZPDJ.DE drawdown since its inception was -28.06%, which is greater than SPYL.DE's maximum drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for ZPDJ.DE and SPYL.DE.
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Drawdown Indicators
| ZPDJ.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.06% | -23.27% | -4.79% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -7.13% | -2.85% |
Max Drawdown (3Y)Largest decline over 3 years | -16.90% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -19.10% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.06% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | -0.46% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -5.93% | -3.24% | -2.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.10% | 2.01% | +1.09% |
Volatility
ZPDJ.DE vs. SPYL.DE - Volatility Comparison
SPDR MSCI Japan UCITS ETF (ZPDJ.DE) has a higher volatility of 3.60% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 2.66%. This indicates that ZPDJ.DE's price experiences larger fluctuations and is considered to be riskier than SPYL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPDJ.DE | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 2.66% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 14.86% | 7.57% | +7.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.62% | 11.52% | +7.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.57% | 14.61% | +1.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.40% | 14.61% | +1.79% |
ZPDJ.DE vs. SPYL.DE - Expense Ratio Comparison
ZPDJ.DE has a 0.12% 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
ZPDJ.DE vs. SPYL.DE - Dividend Comparison
Neither ZPDJ.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPDJ.DE and SPYL.DE have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.12% for ZPDJ.DE.
ZPDJ.DE is categorized as Japan Equities, while SPYL.DE is S&P 500. ZPDJ.DE tracks MSCI Japan, while SPYL.DE tracks S&P 500 Index. Their fees differ too: 0.12% for ZPDJ.DE and 0.03% for SPYL.DE.
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