ZPDW.DE vs. XDJE.DE
ZPDW.DE (State Street SPDR MSCI Japan EUR Hdg UCITS ETF) and XDJE.DE (Xtrackers Nikkei 225 UCITS ETF EUR Hedged (Dist)) are both Japan Equities funds - ZPDW.DE tracks the MSCI Japan 100% Hedged to EUR Index while XDJE.DE tracks the Nikkei 225 Index (EUR Hedged). Both are passively managed. Over the past 5 years, ZPDW.DE returned 19.84%/yr vs 22.73%/yr for XDJE.DE. Their correlation of 0.93 suggests significant overlap in exposure. ZPDW.DE charges 0.17%/yr vs 0.19%/yr for XDJE.DE.
Performance
ZPDW.DE vs. XDJE.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 lower than XDJE.DE's 39.34% 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%
XDJE.DE
- 1D
- 1.66%
- 1M
- 2.25%
- 6M
- 38.79%
- YTD
- 39.34%
- 1Y
- 77.62%
- 3Y*
- 32.58%
- 5Y*
- 22.73%
- 10Y*
- —
ZPDW.DE vs. XDJE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ZPDW.DE State Street SPDR MSCI Japan EUR Hdg UCITS ETF | 21.38% | 27.50% | 22.78% | 33.59% | -5.96% | 12.63% | 7.91% | 16.59% | -8.90% |
XDJE.DE Xtrackers Nikkei 225 UCITS ETF EUR Hedged (Dist) | 39.34% | 30.93% | 23.55% | 35.26% | -9.02% | 5.24% | 16.17% | 16.86% | -7.63% |
Correlation
The correlation between ZPDW.DE and XDJE.DE is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2018 | 0.93 |
The correlation between ZPDW.DE and XDJE.DE has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.
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Return for Risk
ZPDW.DE vs. XDJE.DE — Risk / Return Rank
ZPDW.DE
XDJE.DE
ZPDW.DE vs. XDJE.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 Xtrackers Nikkei 225 UCITS ETF EUR Hedged (Dist) (XDJE.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 | XDJE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.48 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 5.04 | 6.05 | -1.01 |
| Martin ratioReturn relative to average drawdown | 16.98 | 19.40 | -2.42 |
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Drawdowns
ZPDW.DE vs. XDJE.DE - Drawdown Comparison
The maximum ZPDW.DE drawdown since its inception was -34.37%, which is greater than XDJE.DE's maximum drawdown of -32.45%. Use the drawdown chart below to compare losses from any high point for ZPDW.DE and XDJE.DE.
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Drawdown Indicators
| ZPDW.DE | XDJE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.37% | -32.45% | -1.92% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -12.77% | +3.12% |
Max Drawdown (3Y)Largest decline over 3 years | -21.70% | -22.87% | +1.17% |
Max Drawdown (5Y)Largest decline over 5 years | -21.70% | -22.87% | +1.17% |
Max Drawdown (10Y)Largest decline over 10 years | -34.37% | — | — |
Current DrawdownCurrent decline from peak | -2.76% | -4.38% | +1.62% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -6.08% | -1.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.87% | 3.99% | -1.12% |
Volatility
ZPDW.DE vs. XDJE.DE - Volatility Comparison
The current volatility for State Street SPDR MSCI Japan EUR Hdg UCITS ETF (ZPDW.DE) is 6.74%, while Xtrackers Nikkei 225 UCITS ETF EUR Hedged (Dist) (XDJE.DE) has a volatility of 10.10%. This indicates that ZPDW.DE experiences smaller price fluctuations and is considered to be less risky than XDJE.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 | XDJE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.74% | 10.10% | -3.36% |
Volatility (6M)Calculated over the trailing 6-month period | 16.09% | 20.83% | -4.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.26% | 26.12% | -5.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.79% | 21.08% | -2.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.49% | 22.00% | -3.51% |
ZPDW.DE vs. XDJE.DE - Expense Ratio Comparison
ZPDW.DE has a 0.17% expense ratio, which is lower than XDJE.DE's 0.19% 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. XDJE.DE - Dividend Comparison
ZPDW.DE has not paid dividends to shareholders, while XDJE.DE's dividend yield for the trailing twelve months is around 0.79%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
XDJE.DE Xtrackers Nikkei 225 UCITS ETF EUR Hedged (Dist) | 0.79% | 1.11% | 1.21% | 1.32% | 2.27% | 1.08% | 1.00% |
ZPDW.DE State Street SPDR MSCI Japan EUR Hdg UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZPDW.DE and XDJE.DE have a correlation of 0.88, 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 0.19% for XDJE.DE.
ZPDW.DE tracks MSCI Japan 100% Hedged to EUR Index, while XDJE.DE tracks Nikkei 225 Index (EUR Hedged). They also come from different issuers: State Street and Xtrackers. Their fees differ too: 0.17% for ZPDW.DE and 0.19% for XDJE.DE.
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