ZPDX.DE vs. SPY5.DE

Last updated Jun 5, 2026

ZPDX.DE (SPDR STOXX Europe 600 SRI UCITS ETF) and SPY5.DE (SPDR S&P 500 UCITS ETF) are both exchange-traded funds - ZPDX.DE is a Europe Equities fund tracking the STOXX® Europe 600 SRI, while SPY5.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, ZPDX.DE returned 9.14%/yr vs 14.76%/yr for SPY5.DE. A 0.69 correlation means they provide meaningful diversification when combined. ZPDX.DE charges 0.12%/yr vs 0.03%/yr for SPY5.DE.

Performance

ZPDX.DE vs. SPY5.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR STOXX Europe 600 SRI UCITS ETF (ZPDX.DE) and SPDR S&P 500 UCITS ETF (SPY5.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZPDX.DE achieves a 6.68% return, which is significantly lower than SPY5.DE's 11.39% return.

ZPDX.DE

• 1D: 0.99%
• 1M: 4.13%
• YTD: 6.68%
• 6M: 8.95%
• 1Y: 11.89%
• 3Y*: 12.67%
• 5Y*: 9.14%
• 10Y*: —

SPY5.DE

• 1D: -0.13%
• 1M: 5.22%
• YTD: 11.39%
• 6M: 11.43%
• 1Y: 25.61%
• 3Y*: 18.89%
• 5Y*: 14.76%
• 10Y*: 15.13%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZPDX.DE vs. SPY5.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ZPDX.DE SPDR STOXX Europe 600 SRI UCITS ETF	6.68%	14.73%	10.10%	18.67%	-11.83%	25.89%	-2.05%	8.15%
SPY5.DE SPDR S&P 500 UCITS ETF	11.39%	4.75%	32.36%	22.42%	-14.24%	40.60%	6.73%	7.26%

Correlation

The correlation between ZPDX.DE and SPY5.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	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Oct 2, 2019	0.69

The correlation between ZPDX.DE and SPY5.DE shifts across timeframes, from 0.56 (3 years) to 0.69 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ZPDX.DE vs. SPY5.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZPDX.DE

ZPDX.DE Risk / Return Rank: 25
ZPDX.DE Sharpe Ratio Rank: 25
ZPDX.DE Sortino Ratio Rank: 25
ZPDX.DE Omega Ratio Rank: 25
ZPDX.DE Calmar Ratio Rank: 24
ZPDX.DE Martin Ratio Rank: 26

SPY5.DE

SPY5.DE Risk / Return Rank: 69
SPY5.DE Sharpe Ratio Rank: 68
SPY5.DE Sortino Ratio Rank: 67
SPY5.DE Omega Ratio Rank: 70
SPY5.DE Calmar Ratio Rank: 73
SPY5.DE Martin Ratio Rank: 69

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ZPDX.DE vs. SPY5.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR STOXX Europe 600 SRI UCITS ETF (ZPDX.DE) and SPDR S&P 500 UCITS ETF (SPY5.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.

	ZPDX.DE	SPY5.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.86	2.22	-1.35
Sortino ratio: Return per unit of downside risk	1.33	3.01	-1.68
Omega ratio: Gain probability vs. loss probability	1.16	1.41	-0.25
Calmar ratio: Return relative to maximum drawdown	1.10	3.57	-2.46
Martin ratio: Return relative to average drawdown	3.43	12.77	-9.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZPDX.DE vs. SPY5.DE - Sharpe Ratio Comparison

The current ZPDX.DE Sharpe Ratio is 0.86, which is lower than the SPY5.DE Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of ZPDX.DE and SPY5.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ZPDX.DE	SPY5.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	2.22	-1.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.96	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.93	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.97	-0.38

Drawdowns

ZPDX.DE vs. SPY5.DE - Drawdown Comparison

The maximum ZPDX.DE drawdown since its inception was -35.97%, which is greater than SPY5.DE's maximum drawdown of -33.86%. Use the drawdown chart below to compare losses from any high point for ZPDX.DE and SPY5.DE.

Drawdown Indicators

	ZPDX.DE	SPY5.DE	Difference
Max Drawdown Largest peak-to-trough decline	-35.97%	-33.86%	-2.11%
Max Drawdown (1Y) Largest decline over 1 year	-10.73%	-7.15%	-3.58%
Max Drawdown (3Y) Largest decline over 3 years	-16.01%	-23.34%	+7.33%
Max Drawdown (5Y) Largest decline over 5 years	-20.27%	-23.34%	+3.07%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.86%	—
Current Drawdown Current decline from peak	-1.40%	-0.44%	-0.96%
Average Drawdown Average peak-to-trough decline	-5.32%	-3.95%	-1.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	2.00%	+1.47%

Volatility

ZPDX.DE vs. SPY5.DE - Volatility Comparison

SPDR STOXX Europe 600 SRI UCITS ETF (ZPDX.DE) has a higher volatility of 4.19% compared to SPDR S&P 500 UCITS ETF (SPY5.DE) at 2.66%. This indicates that ZPDX.DE's price experiences larger fluctuations and is considered to be riskier than SPY5.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZPDX.DE	SPY5.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	2.66%	+1.53%
Volatility (6M) Calculated over the trailing 6-month period	11.18%	7.54%	+3.64%
Volatility (1Y) Calculated over the trailing 1-year period	13.77%	11.51%	+2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.29%	15.18%	-0.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.74%	16.07%	+0.67%

ZPDX.DE vs. SPY5.DE - Expense Ratio Comparison

ZPDX.DE has a 0.12% expense ratio, which is higher than SPY5.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

ZPDX.DE vs. SPY5.DE - Dividend Comparison

ZPDX.DE has not paid dividends to shareholders, while SPY5.DE's dividend yield for the trailing twelve months is around 0.89%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPY5.DE SPDR S&P 500 UCITS ETF	0.89%	0.99%	1.03%	1.22%	1.42%	0.95%	1.37%	1.74%	3.30%	1.59%	1.57%	1.69%
ZPDX.DE SPDR STOXX Europe 600 SRI UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZPDX.DE and SPY5.DE in my portfolio?

ZPDX.DE and SPY5.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.

Which ETF is better, ZPDX.DE or SPY5.DE?

On fees, SPY5.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZPDX.DE or SPY5.DE?

SPY5.DE is cheaper with a 0.03% expense ratio, compared with 0.12% for ZPDX.DE.

What is the main difference between ZPDX.DE and SPY5.DE?

ZPDX.DE is categorized as Europe Equities, while SPY5.DE is S&P 500. ZPDX.DE tracks STOXX® Europe 600 SRI, while SPY5.DE tracks S&P 500 Index. Their fees differ too: 0.12% for ZPDX.DE and 0.03% for SPY5.DE.