ZPR6.DE vs. SPYL.DE
ZPR6.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - ZPR6.DE is a Emerging Markets Bonds fund tracking the ICE BofAML 0-5 EM USD Government Bond (EUR Hedged), while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, ZPR6.DE returned 3.13% vs 25.61% for SPYL.DE. At a 0.22 correlation, their price movements are largely independent. ZPR6.DE charges 0.47%/yr vs 0.03%/yr for SPYL.DE.
Performance
ZPR6.DE vs. SPYL.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 SPYL.DE's 11.37% 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*
- —
SPYL.DE
- 1D
- -0.15%
- 1M
- 5.19%
- YTD
- 11.37%
- 6M
- 11.41%
- 1Y
- 25.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPR6.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZPR6.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc | 0.15% | 5.62% | 3.09% | 3.32% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.37% | 4.71% | 32.33% | 9.54% |
Correlation
The correlation between ZPR6.DE and SPYL.DE is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.22 |
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Return for Risk
ZPR6.DE vs. SPYL.DE — Risk / Return Rank
ZPR6.DE
SPYL.DE
ZPR6.DE vs. SPYL.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 State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.41 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 3.58 | -1.84 |
| Martin ratioReturn relative to average drawdown | 7.22 | 12.72 | -5.50 |
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 | SPYL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 2.21 | -0.95 |
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 | 1.54 | -1.47 |
Drawdowns
ZPR6.DE vs. SPYL.DE - Drawdown Comparison
The maximum ZPR6.DE drawdown since its inception was -13.50%, smaller than the maximum SPYL.DE drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for ZPR6.DE and SPYL.DE.
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Drawdown Indicators
| ZPR6.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.50% | -23.27% | +9.77% |
Max Drawdown (1Y)Largest decline over 1 year | -1.80% | -7.13% | +5.33% |
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% | -0.46% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -3.24% | -1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 2.01% | -1.58% |
Volatility
ZPR6.DE vs. SPYL.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 State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) has a volatility of 2.66%. This indicates that ZPR6.DE experiences smaller price fluctuations and is considered to be less risky than SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 2.66% | -2.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.11% | 7.57% | -5.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.48% | 11.52% | -9.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.41% | 14.61% | -10.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 14.61% | -9.48% |
ZPR6.DE vs. SPYL.DE - Expense Ratio Comparison
ZPR6.DE has a 0.47% expense ratio, which is higher than SPYL.DE's 0.03% expense ratio.
Dividends
ZPR6.DE vs. SPYL.DE - Dividend Comparison
Neither ZPR6.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPR6.DE and SPYL.DE have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYL.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.DE is cheaper with a 0.03% expense ratio, compared with 0.47% for ZPR6.DE.
ZPR6.DE is categorized as Emerging Markets Bonds, while SPYL.DE is S&P 500. ZPR6.DE tracks ICE BofAML 0-5 EM USD Government Bond (EUR Hedged), while SPYL.DE tracks S&P 500 Index. Their fees differ too: 0.47% for ZPR6.DE and 0.03% for SPYL.DE.
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