ZPR1.DE vs. DXS1.DE

Last updated Jul 4, 2026

ZPR1.DE (State Street SPDR Bloomberg 1-3 Month T-Bill UCITS ETF (Acc)) and DXS1.DE (Xtrackers II GBP Overnight Rate Swap UCITS ETF (Dist)) are both Money Market funds - ZPR1.DE tracks the Bloomberg US Treasury Bills 1-3 Month Index while DXS1.DE tracks the Solactive SONIA Daily Index. Both are passively managed. Over the past 5 years, ZPR1.DE returned 3.52%/yr vs 2.69%/yr for DXS1.DE. At a correlation of -0.02, they often move in opposite directions. ZPR1.DE charges 0.05%/yr vs 0.10%/yr for DXS1.DE.

Performance

ZPR1.DE vs. DXS1.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Bloomberg 1-3 Month T-Bill UCITS ETF (Acc) (ZPR1.DE) and Xtrackers II GBP Overnight Rate Swap UCITS ETF (Dist) (DXS1.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ZPR1.DE is traded in USD, while DXS1.DE is traded in EUR. To make them comparable, the DXS1.DE values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZPR1.DE achieves a 1.85% return, which is significantly higher than DXS1.DE's 0.93% return.

ZPR1.DE

• 1D: 0.01%
• 1M: 0.32%
• 6M: 1.84%
• YTD: 1.85%
• 1Y: 3.86%
• 3Y*: 4.64%
• 5Y*: 3.52%
• 10Y*: —

DXS1.DE

• 1D: -0.00%
• 1M: -0.20%
• 6M: 1.00%
• YTD: 0.93%
• 1Y: 1.61%
• 3Y*: 6.33%
• 5Y*: 2.69%
• 10Y*: 2.05%

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

ZPR1.DE vs. DXS1.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ZPR1.DE State Street SPDR Bloomberg 1-3 Month T-Bill UCITS ETF (Acc)	1.85%	4.23%	5.21%	5.01%	1.38%	-0.06%	0.35%	0.87%
DXS1.DE Xtrackers II GBP Overnight Rate Swap UCITS ETF (Dist)	0.93%	11.99%	3.85%	10.11%	-9.54%	-0.86%	3.53%	6.28%

Correlation

The correlation between ZPR1.DE and DXS1.DE is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.00
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019	-0.02

Return for Risk

ZPR1.DE vs. DXS1.DE — Risk / Return Rank

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

ZPR1.DE

ZPR1.DE Risk / Return Rank: 98
ZPR1.DE Sharpe Ratio Rank: 97
ZPR1.DE Sortino Ratio Rank: 97
ZPR1.DE Omega Ratio Rank: 98
ZPR1.DE Calmar Ratio Rank: 97
ZPR1.DE Martin Ratio Rank: 98

DXS1.DE

DXS1.DE Risk / Return Rank: 43
DXS1.DE Sharpe Ratio Rank: 35
DXS1.DE Sortino Ratio Rank: 32
DXS1.DE Omega Ratio Rank: 33
DXS1.DE Calmar Ratio Rank: 67
DXS1.DE Martin Ratio Rank: 49

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.

ZPR1.DE vs. DXS1.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Bloomberg 1-3 Month T-Bill UCITS ETF (Acc) (ZPR1.DE) and Xtrackers II GBP Overnight Rate Swap UCITS ETF (Dist) (DXS1.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.

	ZPR1.DE	DXS1.DE	Difference
Sharpe ratio: Return per unit of total volatility	3.66	0.23	+3.43
Sortino ratio: Return per unit of downside risk	5.82	0.38	+5.45
Omega ratio: Gain probability vs. loss probability	2.43	1.04	+1.38
Calmar ratio: Return relative to maximum drawdown	9.23	0.38	+8.85
Martin ratio: Return relative to average drawdown	43.51	0.78	+42.73

ZPR1.DE vs. DXS1.DE - Sharpe Ratio Comparison

The current ZPR1.DE Sharpe Ratio is 3.66, which is higher than the DXS1.DE Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of ZPR1.DE and DXS1.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.

Drawdowns

ZPR1.DE vs. DXS1.DE - Drawdown Comparison

The maximum ZPR1.DE drawdown since its inception was -1.92%, smaller than the maximum DXS1.DE drawdown of -43.40%. Use the drawdown chart below to compare losses from any high point for ZPR1.DE and DXS1.DE.

Drawdown Indicators

	ZPR1.DE	DXS1.DE	Difference
Max Drawdown Largest peak-to-trough decline	-1.92%	-43.40%	+41.48%
Max Drawdown (1Y) Largest decline over 1 year	-0.42%	-4.20%	+3.78%
Max Drawdown (3Y) Largest decline over 3 years	-0.42%	-8.09%	+7.67%
Max Drawdown (5Y) Largest decline over 5 years	-0.42%	-22.75%	+22.33%
Max Drawdown (10Y) Largest decline over 10 years	—	-24.09%	—
Current Drawdown Current decline from peak	-0.25%	-17.26%	+17.01%
Average Drawdown Average peak-to-trough decline	-0.47%	-25.19%	+24.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.09%	2.05%	-1.96%

Volatility

ZPR1.DE vs. DXS1.DE - Volatility Comparison

The current volatility for State Street SPDR Bloomberg 1-3 Month T-Bill UCITS ETF (Acc) (ZPR1.DE) is 0.50%, while Xtrackers II GBP Overnight Rate Swap UCITS ETF (Dist) (DXS1.DE) has a volatility of 1.71%. This indicates that ZPR1.DE experiences smaller price fluctuations and is considered to be less risky than DXS1.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZPR1.DE	DXS1.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.50%	1.71%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	0.87%	5.05%	-4.18%
Volatility (1Y) Calculated over the trailing 1-year period	1.05%	6.86%	-5.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.68%	8.68%	-8.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.15%	11.01%	-9.86%

ZPR1.DE vs. DXS1.DE - Expense Ratio Comparison

ZPR1.DE has a 0.05% expense ratio, which is lower than DXS1.DE's 0.10% 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

ZPR1.DE vs. DXS1.DE - Dividend Comparison

ZPR1.DE has not paid dividends to shareholders, while DXS1.DE's dividend yield for the trailing twelve months is around 4.08%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXS1.DE Xtrackers II GBP Overnight Rate Swap UCITS ETF (Dist)	4.08%	4.75%	4.91%	4.04%	0.35%	0.02%	0.57%	0.95%	0.63%	0.20%	1.28%	0.79%
ZPR1.DE State Street SPDR Bloomberg 1-3 Month T-Bill UCITS ETF (Acc)	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 ZPR1.DE and DXS1.DE in my portfolio?

ZPR1.DE and DXS1.DE have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZPR1.DE or DXS1.DE?

On fees, ZPR1.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZPR1.DE or DXS1.DE?

ZPR1.DE is cheaper with a 0.05% expense ratio, compared with 0.10% for DXS1.DE.

What is the main difference between ZPR1.DE and DXS1.DE?

ZPR1.DE tracks Bloomberg US Treasury Bills 1-3 Month Index, while DXS1.DE tracks Solactive SONIA Daily Index. They also come from different issuers: State Street and Xtrackers. Their fees differ too: 0.05% for ZPR1.DE and 0.10% for DXS1.DE.