ZPDW.DE vs. QUEJ.DE
ZPDW.DE (State Street SPDR MSCI Japan EUR Hdg UCITS ETF) and QUEJ.DE (BNP Paribas Easy MSCI Japan SRI S-Series PAB 5% Capped UCITS ETF EUR Acc) are both Japan Equities funds - ZPDW.DE tracks the MSCI Japan 100% Hedged to EUR Index while QUEJ.DE tracks the MSCI Japan SRI S-Series PAB 5% Capped. Both are passively managed. Over the past 3 years, ZPDW.DE returned 26.19%/yr vs 5.98%/yr for QUEJ.DE. A 0.69 correlation means they provide meaningful diversification when combined. ZPDW.DE charges 0.17%/yr vs 0.25%/yr for QUEJ.DE.
Performance
ZPDW.DE vs. QUEJ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPDW.DE achieves a 21.38% return, which is significantly higher than QUEJ.DE's 13.48% return.
ZPDW.DE
- 1D
- 1.19%
- 1M
- 1.95%
- 6M
- 21.11%
- YTD
- 21.38%
- 1Y
- 48.83%
- 3Y*
- 26.19%
- 5Y*
- 19.84%
- 10Y*
- 15.28%
QUEJ.DE
- 1D
- 0.00%
- 1M
- 5.33%
- 6M
- 13.25%
- YTD
- 13.48%
- 1Y
- 19.88%
- 3Y*
- 5.98%
- 5Y*
- —
- 10Y*
- —
ZPDW.DE vs. QUEJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ZPDW.DE State Street SPDR MSCI Japan EUR Hdg UCITS ETF | 21.38% | 27.50% | 22.78% | 33.59% | -1.12% |
QUEJ.DE BNP Paribas Easy MSCI Japan SRI S-Series PAB 5% Capped UCITS ETF EUR Acc | 13.48% | 3.79% | 1.15% | 8.13% | -12.21% |
Correlation
The correlation between ZPDW.DE and QUEJ.DE is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2022 | 0.69 |
The correlation between ZPDW.DE and QUEJ.DE has been stable across timeframes, ranging from 0.69 to 0.76 - a consistent structural relationship.
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Return for Risk
ZPDW.DE vs. QUEJ.DE — Risk / Return Rank
ZPDW.DE
QUEJ.DE
ZPDW.DE vs. QUEJ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI Japan EUR Hdg UCITS ETF (ZPDW.DE) and BNP Paribas Easy MSCI Japan SRI S-Series PAB 5% Capped UCITS ETF EUR Acc (QUEJ.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.
| ZPDW.DE | QUEJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.21 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 5.04 | 1.91 | +3.13 |
| Martin ratioReturn relative to average drawdown | 16.98 | 5.77 | +11.21 |
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Drawdowns
ZPDW.DE vs. QUEJ.DE - Drawdown Comparison
The maximum ZPDW.DE drawdown since its inception was -34.37%, which is greater than QUEJ.DE's maximum drawdown of -15.02%. Use the drawdown chart below to compare losses from any high point for ZPDW.DE and QUEJ.DE.
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Drawdown Indicators
| ZPDW.DE | QUEJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.37% | -15.02% | -19.35% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -10.45% | +0.80% |
Max Drawdown (3Y)Largest decline over 3 years | -21.70% | -13.94% | -7.76% |
Max Drawdown (5Y)Largest decline over 5 years | -21.70% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.37% | — | — |
Current DrawdownCurrent decline from peak | -2.76% | 0.00% | -2.76% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -6.24% | -1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.87% | 3.47% | -0.60% |
Volatility
ZPDW.DE vs. QUEJ.DE - Volatility Comparison
State Street SPDR MSCI Japan EUR Hdg UCITS ETF (ZPDW.DE) has a higher volatility of 6.74% compared to BNP Paribas Easy MSCI Japan SRI S-Series PAB 5% Capped UCITS ETF EUR Acc (QUEJ.DE) at 4.79%. This indicates that ZPDW.DE's price experiences larger fluctuations and is considered to be riskier than QUEJ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPDW.DE | QUEJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.74% | 4.79% | +1.95% |
Volatility (6M)Calculated over the trailing 6-month period | 16.09% | 14.12% | +1.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.26% | 17.77% | +2.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.79% | 15.39% | +3.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.49% | 15.39% | +3.10% |
ZPDW.DE vs. QUEJ.DE - Expense Ratio Comparison
ZPDW.DE has a 0.17% expense ratio, which is lower than QUEJ.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
ZPDW.DE vs. QUEJ.DE - Dividend Comparison
Neither ZPDW.DE nor QUEJ.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPDW.DE and QUEJ.DE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPDW.DE is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPDW.DE is cheaper with a 0.17% expense ratio, compared with 0.25% for QUEJ.DE.
ZPDW.DE tracks MSCI Japan 100% Hedged to EUR Index, while QUEJ.DE tracks MSCI Japan SRI S-Series PAB 5% Capped. They also come from different issuers: State Street and BNP Paribas. Their fees differ too: 0.17% for ZPDW.DE and 0.25% for QUEJ.DE.
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