ZPRC.DE vs. SPYM.DE
ZPRC.DE (SPDR Refinitiv Global Convertible Bond UCITS ETF) and SPYM.DE (SPDR MSCI Emerging Markets UCITS ETF) are both exchange-traded funds - ZPRC.DE is a Convertible Bonds fund tracking the Refinitiv Qualified Global Convertible, while SPYM.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets. Both are passively managed. Over the past 10 years, ZPRC.DE returned 8.83%/yr vs 9.90%/yr for SPYM.DE. A 0.60 correlation means they provide meaningful diversification when combined. ZPRC.DE charges 0.50%/yr vs 0.18%/yr for SPYM.DE.
Performance
ZPRC.DE vs. SPYM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPRC.DE achieves a 19.28% return, which is significantly lower than SPYM.DE's 27.39% return. Over the past 10 years, ZPRC.DE has underperformed SPYM.DE with an annualized return of 8.83%, while SPYM.DE has yielded a comparatively higher 9.90% annualized return.
ZPRC.DE
- 1D
- -0.38%
- 1M
- 5.04%
- YTD
- 19.28%
- 6M
- 20.49%
- 1Y
- 33.63%
- 3Y*
- 16.27%
- 5Y*
- 7.58%
- 10Y*
- 8.83%
SPYM.DE
- 1D
- -1.63%
- 1M
- 6.11%
- YTD
- 27.39%
- 6M
- 29.25%
- 1Y
- 50.03%
- 3Y*
- 21.15%
- 5Y*
- 8.45%
- 10Y*
- 9.90%
ZPRC.DE vs. SPYM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZPRC.DE SPDR Refinitiv Global Convertible Bond UCITS ETF | 19.28% | 11.36% | 13.71% | 10.51% | -15.60% | 5.44% | 24.70% | 16.78% | -1.19% | -1.51% |
SPYM.DE SPDR MSCI Emerging Markets UCITS ETF | 27.39% | 19.08% | 14.04% | 6.06% | -14.90% | 5.27% | 6.28% | 22.30% | -11.26% | 19.74% |
Correlation
The correlation between ZPRC.DE and SPYM.DE is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2014 | 0.60 |
The correlation between ZPRC.DE and SPYM.DE shifts across timeframes, from 0.57 (3 years) to 0.69 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ZPRC.DE vs. SPYM.DE — Risk / Return Rank
ZPRC.DE
SPYM.DE
ZPRC.DE vs. SPYM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Refinitiv Global Convertible Bond UCITS ETF (ZPRC.DE) and SPDR MSCI Emerging Markets UCITS ETF (SPYM.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.
| ZPRC.DE | SPYM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.50 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 6.98 | 4.80 | +2.18 |
| Martin ratioReturn relative to average drawdown | 25.17 | 17.28 | +7.89 |
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
| ZPRC.DE | SPYM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.93 | 2.79 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.50 | +0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 0.54 | +0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.34 | +0.48 |
Drawdowns
ZPRC.DE vs. SPYM.DE - Drawdown Comparison
The maximum ZPRC.DE drawdown since its inception was -23.49%, smaller than the maximum SPYM.DE drawdown of -36.28%. Use the drawdown chart below to compare losses from any high point for ZPRC.DE and SPYM.DE.
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Drawdown Indicators
| ZPRC.DE | SPYM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.49% | -36.28% | +12.79% |
Max Drawdown (1Y)Largest decline over 1 year | -4.80% | -10.38% | +5.58% |
Max Drawdown (3Y)Largest decline over 3 years | -13.00% | -18.96% | +5.96% |
Max Drawdown (5Y)Largest decline over 5 years | -20.71% | -23.86% | +3.15% |
Max Drawdown (10Y)Largest decline over 10 years | -23.49% | -31.69% | +8.20% |
Current DrawdownCurrent decline from peak | -0.38% | -2.74% | +2.36% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -9.95% | +3.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 2.89% | -1.56% |
Volatility
ZPRC.DE vs. SPYM.DE - Volatility Comparison
The current volatility for SPDR Refinitiv Global Convertible Bond UCITS ETF (ZPRC.DE) is 3.94%, while SPDR MSCI Emerging Markets UCITS ETF (SPYM.DE) has a volatility of 7.34%. This indicates that ZPRC.DE experiences smaller price fluctuations and is considered to be less risky than SPYM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPRC.DE | SPYM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.94% | 7.34% | -3.40% |
Volatility (6M)Calculated over the trailing 6-month period | 9.36% | 15.16% | -5.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.45% | 17.87% | -6.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.54% | 16.78% | -6.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.76% | 18.40% | -7.64% |
ZPRC.DE vs. SPYM.DE - Expense Ratio Comparison
ZPRC.DE has a 0.50% expense ratio, which is higher than SPYM.DE's 0.18% expense ratio.
Dividends
ZPRC.DE vs. SPYM.DE - Dividend Comparison
ZPRC.DE's dividend yield for the trailing twelve months is around 0.57%, while SPYM.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPYM.DE SPDR MSCI Emerging Markets UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZPRC.DE SPDR Refinitiv Global Convertible Bond UCITS ETF | 0.57% | 0.68% | 0.46% | 0.23% | 0.24% | 0.16% | 0.32% | 0.41% | 0.36% | 0.51% | 0.61% | 0.69% |
Frequently Asked Questions
ZPRC.DE and SPYM.DE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYM.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYM.DE is cheaper with a 0.18% expense ratio, compared with 0.50% for ZPRC.DE.
ZPRC.DE is categorized as Convertible Bonds, while SPYM.DE is Emerging Markets Equities. ZPRC.DE tracks Refinitiv Qualified Global Convertible, while SPYM.DE tracks MSCI Emerging Markets. Their fees differ too: 0.50% for ZPRC.DE and 0.18% for SPYM.DE.
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