ZPR6.DE vs. SPFA.DE
ZPR6.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc) and SPFA.DE (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) are both Emerging Markets Bonds funds from State Street - ZPR6.DE tracks the ICE BofAML 0-5 EM USD Government Bond (EUR Hedged) while SPFA.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond. Both are passively managed. Over the past 5 years, ZPR6.DE returned 0.23%/yr vs 1.46%/yr for SPFA.DE. At a 0.25 correlation, their price movements are largely independent. ZPR6.DE charges 0.47%/yr vs 0.55%/yr for SPFA.DE.
Performance
ZPR6.DE vs. SPFA.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 SPFA.DE's 0.46% 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*
- —
SPFA.DE
- 1D
- -0.01%
- 1M
- 0.39%
- YTD
- 0.46%
- 6M
- 0.45%
- 1Y
- 3.30%
- 3Y*
- 2.58%
- 5Y*
- 1.46%
- 10Y*
- —
ZPR6.DE vs. SPFA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | 0.69% | -0.12% |
SPFA.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 0.46% | 2.44% | 3.19% | 5.66% | -4.47% | -1.04% | -5.66% | 5.99% |
Correlation
The correlation between ZPR6.DE and SPFA.DE is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2019 | 0.25 |
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Return for Risk
ZPR6.DE vs. SPFA.DE — Risk / Return Rank
ZPR6.DE
SPFA.DE
ZPR6.DE vs. SPFA.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 SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.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 | SPFA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.11 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 0.83 | +0.91 |
| Martin ratioReturn relative to average drawdown | 7.22 | 2.62 | +4.60 |
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 | SPFA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 0.62 | +0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.23 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.26 | -0.19 |
Drawdowns
ZPR6.DE vs. SPFA.DE - Drawdown Comparison
The maximum ZPR6.DE drawdown since its inception was -13.50%, smaller than the maximum SPFA.DE drawdown of -16.39%. Use the drawdown chart below to compare losses from any high point for ZPR6.DE and SPFA.DE.
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Drawdown Indicators
| ZPR6.DE | SPFA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.50% | -16.39% | +2.89% |
Max Drawdown (1Y)Largest decline over 1 year | -1.80% | -3.96% | +2.16% |
Max Drawdown (3Y)Largest decline over 3 years | -1.80% | -7.66% | +5.86% |
Max Drawdown (5Y)Largest decline over 5 years | -13.50% | -8.51% | -4.99% |
Current DrawdownCurrent decline from peak | -0.37% | -3.19% | +2.82% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -7.62% | +3.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 1.26% | -0.83% |
Volatility
ZPR6.DE vs. SPFA.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 SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.DE) has a volatility of 1.83%. This indicates that ZPR6.DE experiences smaller price fluctuations and is considered to be less risky than SPFA.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 | SPFA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 1.83% | -1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 2.11% | 4.51% | -2.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.48% | 5.31% | -2.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.41% | 6.24% | -1.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 7.05% | -1.92% |
ZPR6.DE vs. SPFA.DE - Expense Ratio Comparison
ZPR6.DE has a 0.47% expense ratio, which is lower than SPFA.DE's 0.55% expense ratio.
Dividends
ZPR6.DE vs. SPFA.DE - Dividend Comparison
Neither ZPR6.DE nor SPFA.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPR6.DE and SPFA.DE have a correlation of 0.26, 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 0.55% for SPFA.DE.
ZPR6.DE tracks ICE BofAML 0-5 EM USD Government Bond (EUR Hedged), while SPFA.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond. Their fees differ too: 0.47% for ZPR6.DE and 0.55% for SPFA.DE.
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