ZPR6.DE vs. SNAZ.DE
ZPR6.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc) and SNAZ.DE (iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc)) are both Emerging Markets Bonds funds - ZPR6.DE tracks the ICE BofAML 0-5 EM USD Government Bond (EUR Hedged) while SNAZ.DE tracks the J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged). Both are passively managed. Over the past 5 years, ZPR6.DE returned 0.22%/yr vs -0.08%/yr for SNAZ.DE. A 0.59 correlation means they provide meaningful diversification when combined. ZPR6.DE charges 0.47%/yr vs 0.53%/yr for SNAZ.DE.
Performance
ZPR6.DE vs. SNAZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPR6.DE achieves a -0.20% return, which is significantly lower than SNAZ.DE's 0.98% return.
ZPR6.DE
- 1D
- -0.26%
- 1M
- -0.29%
- 6M
- -0.07%
- YTD
- -0.20%
- 1Y
- 2.24%
- 3Y*
- 3.93%
- 5Y*
- 0.22%
- 10Y*
- —
SNAZ.DE
- 1D
- 0.39%
- 1M
- 0.39%
- 6M
- 0.98%
- YTD
- 0.98%
- 1Y
- 4.05%
- 3Y*
- 5.08%
- 5Y*
- -0.08%
- 10Y*
- —
ZPR6.DE vs. SNAZ.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 | -0.20% | 5.64% | 3.09% | 3.98% | -9.09% | -1.16% | 1.11% |
SNAZ.DE iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) | 0.98% | 6.26% | 4.36% | 5.28% | -14.17% | -1.55% | 5.52% |
Correlation
The correlation between ZPR6.DE and SNAZ.DE is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2020 | 0.59 |
The correlation between ZPR6.DE and SNAZ.DE has been stable across timeframes, ranging from 0.54 to 0.63 - a consistent structural relationship.
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Return for Risk
ZPR6.DE vs. SNAZ.DE — Risk / Return Rank
ZPR6.DE
SNAZ.DE
ZPR6.DE vs. SNAZ.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 J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.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.
| ZPR6.DE | SNAZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.24 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 1.39 | -0.16 |
| Martin ratioReturn relative to average drawdown | 4.89 | 5.14 | -0.25 |
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Drawdowns
ZPR6.DE vs. SNAZ.DE - Drawdown Comparison
The maximum ZPR6.DE drawdown since its inception was -13.49%, smaller than the maximum SNAZ.DE drawdown of -21.88%. Use the drawdown chart below to compare losses from any high point for ZPR6.DE and SNAZ.DE.
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Drawdown Indicators
| ZPR6.DE | SNAZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.49% | -21.88% | +8.39% |
Max Drawdown (1Y)Largest decline over 1 year | -1.81% | -2.91% | +1.10% |
Max Drawdown (3Y)Largest decline over 3 years | -1.81% | -3.82% | +2.01% |
Max Drawdown (5Y)Largest decline over 5 years | -13.37% | -21.88% | +8.51% |
Current DrawdownCurrent decline from peak | -0.71% | -1.34% | +0.63% |
Average DrawdownAverage peak-to-trough decline | -4.57% | -7.64% | +3.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.79% | -0.34% |
Volatility
ZPR6.DE vs. SNAZ.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 0.59%, while iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.DE) has a volatility of 0.91%. This indicates that ZPR6.DE experiences smaller price fluctuations and is considered to be less risky than SNAZ.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 | SNAZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.91% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.11% | 2.72% | -0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.48% | 3.36% | -0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.41% | 5.06% | -0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.10% | 7.65% | -2.55% |
ZPR6.DE vs. SNAZ.DE - Expense Ratio Comparison
ZPR6.DE has a 0.47% expense ratio, which is lower than SNAZ.DE's 0.53% expense ratio.
Dividends
ZPR6.DE vs. SNAZ.DE - Dividend Comparison
Neither ZPR6.DE nor SNAZ.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPR6.DE and SNAZ.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPR6.DE is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPR6.DE is cheaper with a 0.47% expense ratio, compared with 0.53% for SNAZ.DE.
ZPR6.DE tracks ICE BofAML 0-5 EM USD Government Bond (EUR Hedged), while SNAZ.DE tracks J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged). They also come from different issuers: State Street and iShares. Their fees differ too: 0.47% for ZPR6.DE and 0.53% for SNAZ.DE.
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