ZPDJ.DE vs. SPYY.DE
ZPDJ.DE (SPDR MSCI Japan UCITS ETF) and SPYY.DE (SPDR MSCI ACWI UCITS ETF) are both exchange-traded funds - ZPDJ.DE is a Japan Equities fund tracking the MSCI Japan, while SPYY.DE is a Global Equities fund tracking the MSCI All Country World (ACWI). Both are passively managed. Over the past 10 years, ZPDJ.DE returned 9.18%/yr vs 12.40%/yr for SPYY.DE. A 0.71 correlation means they provide meaningful diversification when combined. ZPDJ.DE charges 0.12%/yr vs 0.40%/yr for SPYY.DE.
Performance
ZPDJ.DE vs. SPYY.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 SPYY.DE's 12.54% return. Over the past 10 years, ZPDJ.DE has underperformed SPYY.DE with an annualized return of 9.18%, while SPYY.DE has yielded a comparatively higher 12.40% annualized 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%
SPYY.DE
- 1D
- -0.21%
- 1M
- 4.97%
- YTD
- 12.54%
- 6M
- 13.23%
- 1Y
- 26.75%
- 3Y*
- 17.99%
- 5Y*
- 12.35%
- 10Y*
- 12.40%
ZPDJ.DE vs. SPYY.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZPDJ.DE SPDR MSCI Japan UCITS ETF | 16.79% | 12.60% | 13.75% | 16.51% | -12.51% | 9.97% | 5.16% | 21.83% | -9.81% | 9.06% |
SPYY.DE SPDR MSCI ACWI UCITS ETF | 12.54% | 9.46% | 24.56% | 18.22% | -13.82% | 29.11% | 5.12% | 30.21% | -6.02% | 8.80% |
Correlation
The correlation between ZPDJ.DE and SPYY.DE is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2015 | 0.71 |
The correlation between ZPDJ.DE and SPYY.DE has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.
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Return for Risk
ZPDJ.DE vs. SPYY.DE — Risk / Return Rank
ZPDJ.DE
SPYY.DE
ZPDJ.DE vs. SPYY.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Japan UCITS ETF (ZPDJ.DE) and SPDR MSCI ACWI UCITS ETF (SPYY.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 | SPYY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.44 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 4.10 | -1.04 |
| Martin ratioReturn relative to average drawdown | 9.86 | 16.60 | -6.74 |
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 | SPYY.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 2.32 | -0.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.88 | -0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.82 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.83 | -0.39 |
Drawdowns
ZPDJ.DE vs. SPYY.DE - Drawdown Comparison
The maximum ZPDJ.DE drawdown since its inception was -28.06%, smaller than the maximum SPYY.DE drawdown of -33.49%. Use the drawdown chart below to compare losses from any high point for ZPDJ.DE and SPYY.DE.
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Drawdown Indicators
| ZPDJ.DE | SPYY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.06% | -33.49% | +5.43% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -6.49% | -3.49% |
Max Drawdown (3Y)Largest decline over 3 years | -16.90% | -21.27% | +4.37% |
Max Drawdown (5Y)Largest decline over 5 years | -19.10% | -21.27% | +2.17% |
Max Drawdown (10Y)Largest decline over 10 years | -28.06% | -33.49% | +5.43% |
Current DrawdownCurrent decline from peak | -0.45% | -0.61% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -5.93% | -4.39% | -1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.10% | 1.61% | +1.49% |
Volatility
ZPDJ.DE vs. SPYY.DE - Volatility Comparison
SPDR MSCI Japan UCITS ETF (ZPDJ.DE) has a higher volatility of 3.60% compared to SPDR MSCI ACWI UCITS ETF (SPYY.DE) at 3.05%. This indicates that ZPDJ.DE's price experiences larger fluctuations and is considered to be riskier than SPYY.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 | SPYY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 3.05% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 14.86% | 8.21% | +6.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.62% | 11.47% | +7.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.57% | 13.90% | +2.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.40% | 15.07% | +1.33% |
ZPDJ.DE vs. SPYY.DE - Expense Ratio Comparison
ZPDJ.DE has a 0.12% expense ratio, which is lower than SPYY.DE's 0.40% expense ratio.
Dividends
ZPDJ.DE vs. SPYY.DE - Dividend Comparison
Neither ZPDJ.DE nor SPYY.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPDJ.DE and SPYY.DE have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPDJ.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPDJ.DE is cheaper with a 0.12% expense ratio, compared with 0.40% for SPYY.DE.
ZPDJ.DE is categorized as Japan Equities, while SPYY.DE is Global Equities. ZPDJ.DE tracks MSCI Japan, while SPYY.DE tracks MSCI All Country World (ACWI). Their fees differ too: 0.12% for ZPDJ.DE and 0.40% for SPYY.DE.
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