ZPR6.DE vs. CEB0.DE
ZPR6.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc) and CEB0.DE (iShares China CNY Bond UCITS ETF EUR Hedged Dist) are both Emerging Markets Bonds funds - ZPR6.DE tracks the ICE BofAML 0-5 EM USD Government Bond (EUR Hedged) while CEB0.DE tracks the Bloomberg Barclays China Treasury + Policy Bank Index. Both are passively managed. Over the past year, ZPR6.DE returned 3.13% vs 1.59% for CEB0.DE. At a correlation of -0.01, they often move in opposite directions. ZPR6.DE charges 0.47%/yr vs 0.40%/yr for CEB0.DE.
Performance
ZPR6.DE vs. CEB0.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPR6.DE achieves a 0.15% return, which is significantly lower than CEB0.DE's 1.63% return.
ZPR6.DE
- 1D
- 0.04%
- 1M
- -0.09%
- YTD
- 0.15%
- 6M
- 0.47%
- 1Y
- 3.13%
- 3Y*
- 4.05%
- 5Y*
- 0.23%
- 10Y*
- —
CEB0.DE
- 1D
- -0.13%
- 1M
- 0.30%
- YTD
- 1.63%
- 6M
- 1.79%
- 1Y
- 1.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPR6.DE vs. CEB0.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZPR6.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc | 0.15% | 5.62% | 2.59% |
CEB0.DE iShares China CNY Bond UCITS ETF EUR Hedged Dist | 1.63% | 0.43% | 6.89% |
Correlation
The correlation between ZPR6.DE and CEB0.DE is -0.07, 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 | -0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2024 | -0.01 |
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Return for Risk
ZPR6.DE vs. CEB0.DE — Risk / Return Rank
ZPR6.DE
CEB0.DE
ZPR6.DE vs. CEB0.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc (ZPR6.DE) and iShares China CNY Bond UCITS ETF EUR Hedged Dist (CEB0.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.
| ZPR6.DE | CEB0.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.18 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 1.43 | +0.31 |
| Martin ratioReturn relative to average drawdown | 7.22 | 3.02 | +4.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZPR6.DE | CEB0.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 0.94 | +0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 2.03 | -1.96 |
Drawdowns
ZPR6.DE vs. CEB0.DE - Drawdown Comparison
The maximum ZPR6.DE drawdown since its inception was -13.50%, which is greater than CEB0.DE's maximum drawdown of -1.83%. Use the drawdown chart below to compare losses from any high point for ZPR6.DE and CEB0.DE.
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Drawdown Indicators
| ZPR6.DE | CEB0.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.50% | -1.83% | -11.67% |
Max Drawdown (1Y)Largest decline over 1 year | -1.80% | -1.11% | -0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -1.80% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.50% | — | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.34% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -0.38% | -4.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.52% | -0.09% |
Volatility
ZPR6.DE vs. CEB0.DE - Volatility Comparison
The current volatility for SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc (ZPR6.DE) is 0.61%, while iShares China CNY Bond UCITS ETF EUR Hedged Dist (CEB0.DE) has a volatility of 1.02%. This indicates that ZPR6.DE experiences smaller price fluctuations and is considered to be less risky than CEB0.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPR6.DE | CEB0.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 1.02% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 2.11% | 1.45% | +0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.48% | 1.68% | +0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.41% | 2.03% | +2.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 2.03% | +3.10% |
ZPR6.DE vs. CEB0.DE - Expense Ratio Comparison
ZPR6.DE has a 0.47% expense ratio, which is higher than CEB0.DE's 0.40% expense ratio.
Dividends
ZPR6.DE vs. CEB0.DE - Dividend Comparison
ZPR6.DE has not paid dividends to shareholders, while CEB0.DE's dividend yield for the trailing twelve months is around 1.81%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CEB0.DE iShares China CNY Bond UCITS ETF EUR Hedged Dist | 1.81% | 1.84% | 1.43% |
ZPR6.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZPR6.DE and CEB0.DE have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEB0.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEB0.DE is cheaper with a 0.40% expense ratio, compared with 0.47% for ZPR6.DE.
ZPR6.DE tracks ICE BofAML 0-5 EM USD Government Bond (EUR Hedged), while CEB0.DE tracks Bloomberg Barclays China Treasury + Policy Bank Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.47% for ZPR6.DE and 0.40% for CEB0.DE.
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