ZPR6.DE vs. EMA5.DE
ZPR6.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc) and EMA5.DE (L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF) are both Emerging Markets Bonds funds - ZPR6.DE tracks the ICE BofAML 0-5 EM USD Government Bond (EUR Hedged) while EMA5.DE tracks the J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity. Both are passively managed. Over the past 5 years, ZPR6.DE returned 0.23%/yr vs 3.38%/yr for EMA5.DE. At a 0.07 correlation, their price movements are largely independent. ZPR6.DE charges 0.47%/yr vs 0.25%/yr for EMA5.DE.
Performance
ZPR6.DE vs. EMA5.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 EMA5.DE's 2.33% 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*
- —
EMA5.DE
- 1D
- -0.04%
- 1M
- 1.24%
- YTD
- 2.33%
- 6M
- 1.80%
- 1Y
- 4.57%
- 3Y*
- 5.12%
- 5Y*
- 3.38%
- 10Y*
- —
ZPR6.DE vs. EMA5.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZPR6.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc | 0.15% | 5.62% | 3.09% | 3.99% | -9.09% | -1.17% | 0.39% |
EMA5.DE L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF | 2.33% | -2.57% | 14.01% | 3.79% | -5.07% | 7.86% | -1.26% |
Correlation
The correlation between ZPR6.DE and EMA5.DE is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.07 |
The correlation between ZPR6.DE and EMA5.DE shifts across timeframes, from -0.03 (1 year) to 0.08 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ZPR6.DE vs. EMA5.DE — Risk / Return Rank
ZPR6.DE
EMA5.DE
ZPR6.DE vs. EMA5.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 L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMA5.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 | EMA5.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.13 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 1.38 | +0.35 |
| Martin ratioReturn relative to average drawdown | 7.22 | 3.47 | +3.75 |
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 | EMA5.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 0.72 | +0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.47 | -0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.47 | -0.40 |
Drawdowns
ZPR6.DE vs. EMA5.DE - Drawdown Comparison
The maximum ZPR6.DE drawdown since its inception was -13.50%, which is greater than EMA5.DE's maximum drawdown of -10.01%. Use the drawdown chart below to compare losses from any high point for ZPR6.DE and EMA5.DE.
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Drawdown Indicators
| ZPR6.DE | EMA5.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.50% | -10.01% | -3.49% |
Max Drawdown (1Y)Largest decline over 1 year | -1.80% | -3.06% | +1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -1.80% | -10.01% | +8.21% |
Max Drawdown (5Y)Largest decline over 5 years | -13.50% | -10.01% | -3.49% |
Current DrawdownCurrent decline from peak | -0.37% | -3.17% | +2.80% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -3.55% | -1.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 1.22% | -0.79% |
Volatility
ZPR6.DE vs. EMA5.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 L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMA5.DE) has a volatility of 2.25%. This indicates that ZPR6.DE experiences smaller price fluctuations and is considered to be less risky than EMA5.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 | EMA5.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 2.25% | -1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 2.11% | 4.23% | -2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.48% | 5.86% | -3.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.41% | 7.07% | -2.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 6.94% | -1.81% |
ZPR6.DE vs. EMA5.DE - Expense Ratio Comparison
ZPR6.DE has a 0.47% expense ratio, which is higher than EMA5.DE's 0.25% expense ratio.
Dividends
ZPR6.DE vs. EMA5.DE - Dividend Comparison
ZPR6.DE has not paid dividends to shareholders, while EMA5.DE's dividend yield for the trailing twelve months is around 4.59%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
EMA5.DE L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF | 4.59% | 5.61% | 5.39% | 4.22% | 2.89% | 1.01% |
ZPR6.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZPR6.DE and EMA5.DE have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMA5.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMA5.DE is cheaper with a 0.25% expense ratio, compared with 0.47% for ZPR6.DE.
ZPR6.DE tracks ICE BofAML 0-5 EM USD Government Bond (EUR Hedged), while EMA5.DE tracks J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity. They also come from different issuers: State Street and Legal & General. Their fees differ too: 0.47% for ZPR6.DE and 0.25% for EMA5.DE.
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