ZPDW.DE vs. ZPRX.DE
ZPDW.DE (State Street SPDR MSCI Japan EUR Hdg UCITS ETF) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - ZPDW.DE is a Japan Equities fund tracking the MSCI Japan 100% Hedged to EUR Index, while ZPRX.DE is a Europe Equities fund tracking the MSCI Europe Small Cap Value Weighted. Both are passively managed. Over the past 10 years, ZPDW.DE returned 15.28%/yr vs 9.60%/yr for ZPRX.DE. A 0.62 correlation means they provide meaningful diversification when combined. ZPDW.DE charges 0.17%/yr vs 0.30%/yr for ZPRX.DE.
Performance
ZPDW.DE vs. ZPRX.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 ZPRX.DE's 9.06% return. Over the past 10 years, ZPDW.DE has outperformed ZPRX.DE with an annualized return of 15.28%, while ZPRX.DE has yielded a comparatively lower 9.60% annualized 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%
ZPRX.DE
- 1D
- 1.28%
- 1M
- 1.50%
- 6M
- 8.54%
- YTD
- 9.06%
- 1Y
- 16.81%
- 3Y*
- 15.50%
- 5Y*
- 8.54%
- 10Y*
- 9.60%
ZPDW.DE vs. ZPRX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | -16.65% | 19.02% |
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 9.06% | 26.81% | 4.29% | 15.26% | -13.51% | 27.59% | -3.52% | 28.99% | -19.19% | 12.89% |
Correlation
The correlation between ZPDW.DE and ZPRX.DE is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2015 | 0.62 |
The correlation between ZPDW.DE and ZPRX.DE has been stable across timeframes, ranging from 0.52 to 0.62 - a consistent structural relationship.
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Return for Risk
ZPDW.DE vs. ZPRX.DE — Risk / Return Rank
ZPDW.DE
ZPRX.DE
ZPDW.DE vs. ZPRX.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 SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.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 | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.21 | ||
| Sortino ratioReturn per unit of downside risk | +1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.22 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 5.04 | 1.44 | +3.60 |
| Martin ratioReturn relative to average drawdown | 16.98 | 5.22 | +11.76 |
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Drawdowns
ZPDW.DE vs. ZPRX.DE - Drawdown Comparison
The maximum ZPDW.DE drawdown since its inception was -34.37%, smaller than the maximum ZPRX.DE drawdown of -43.93%. Use the drawdown chart below to compare losses from any high point for ZPDW.DE and ZPRX.DE.
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Drawdown Indicators
| ZPDW.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.37% | -43.93% | +9.56% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -11.63% | +1.98% |
Max Drawdown (3Y)Largest decline over 3 years | -21.70% | -15.95% | -5.75% |
Max Drawdown (5Y)Largest decline over 5 years | -21.70% | -27.52% | +5.82% |
Max Drawdown (10Y)Largest decline over 10 years | -34.37% | -43.93% | +9.56% |
Current DrawdownCurrent decline from peak | -2.76% | -0.37% | -2.39% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -7.66% | +0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.87% | 3.21% | -0.34% |
Volatility
ZPDW.DE vs. ZPRX.DE - Volatility Comparison
State Street SPDR MSCI Japan EUR Hdg UCITS ETF (ZPDW.DE) has a higher volatility of 6.74% compared to SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) at 3.77%. This indicates that ZPDW.DE's price experiences larger fluctuations and is considered to be riskier than ZPRX.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 | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.74% | 3.77% | +2.97% |
Volatility (6M)Calculated over the trailing 6-month period | 16.09% | 11.65% | +4.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.26% | 14.09% | +6.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.79% | 16.72% | +2.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.49% | 17.64% | +0.85% |
ZPDW.DE vs. ZPRX.DE - Expense Ratio Comparison
ZPDW.DE has a 0.17% expense ratio, which is lower than ZPRX.DE's 0.30% expense ratio.
Dividends
ZPDW.DE vs. ZPRX.DE - Dividend Comparison
Neither ZPDW.DE nor ZPRX.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPDW.DE and ZPRX.DE have a correlation of 0.58, 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 0.30% for ZPRX.DE.
ZPDW.DE is categorized as Japan Equities, while ZPRX.DE is Europe Equities. ZPDW.DE tracks MSCI Japan 100% Hedged to EUR Index, while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted. Their fees differ too: 0.17% for ZPDW.DE and 0.30% for ZPRX.DE.
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