ZPRC.DE vs. SPYW.DE
ZPRC.DE (SPDR Refinitiv Global Convertible Bond UCITS ETF) and SPYW.DE (SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist)) are both exchange-traded funds - ZPRC.DE is a Convertible Bonds fund tracking the Refinitiv Qualified Global Convertible, while SPYW.DE is a Europe Equities fund tracking the S&P Euro High Yield Dividend Aristocrats. Both are passively managed. Over the past 10 years, ZPRC.DE returned 8.83%/yr vs 6.79%/yr for SPYW.DE. At a 0.42 correlation, their price movements are largely independent. ZPRC.DE charges 0.50%/yr vs 0.30%/yr for SPYW.DE.
Performance
ZPRC.DE vs. SPYW.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 higher than SPYW.DE's 5.36% return. Over the past 10 years, ZPRC.DE has outperformed SPYW.DE with an annualized return of 8.83%, while SPYW.DE has yielded a comparatively lower 6.79% 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%
SPYW.DE
- 1D
- 0.09%
- 1M
- -0.36%
- YTD
- 5.36%
- 6M
- 7.28%
- 1Y
- 7.88%
- 3Y*
- 13.21%
- 5Y*
- 8.07%
- 10Y*
- 6.79%
ZPRC.DE vs. SPYW.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% |
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) | 5.36% | 20.24% | 8.29% | 17.93% | -11.23% | 14.36% | -11.84% | 23.34% | -8.58% | 11.23% |
Correlation
The correlation between ZPRC.DE and SPYW.DE is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2014 | 0.42 |
The correlation between ZPRC.DE and SPYW.DE shifts across timeframes, from 0.22 (3 years) to 0.42 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ZPRC.DE vs. SPYW.DE — Risk / Return Rank
ZPRC.DE
SPYW.DE
ZPRC.DE vs. SPYW.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 S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.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 | SPYW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.19 | ||
| Sortino ratioReturn per unit of downside risk | +2.86 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.14 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 6.98 | 0.98 | +5.99 |
| Martin ratioReturn relative to average drawdown | 25.17 | 3.14 | +22.03 |
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 | SPYW.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.93 | 0.74 | +2.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.60 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 0.45 | +0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.53 | +0.29 |
Drawdowns
ZPRC.DE vs. SPYW.DE - Drawdown Comparison
The maximum ZPRC.DE drawdown since its inception was -23.49%, smaller than the maximum SPYW.DE drawdown of -38.68%. Use the drawdown chart below to compare losses from any high point for ZPRC.DE and SPYW.DE.
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Drawdown Indicators
| ZPRC.DE | SPYW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.49% | -38.68% | +15.19% |
Max Drawdown (1Y)Largest decline over 1 year | -4.80% | -7.99% | +3.19% |
Max Drawdown (3Y)Largest decline over 3 years | -13.00% | -11.64% | -1.36% |
Max Drawdown (5Y)Largest decline over 5 years | -20.71% | -23.97% | +3.26% |
Max Drawdown (10Y)Largest decline over 10 years | -23.49% | -38.68% | +15.19% |
Current DrawdownCurrent decline from peak | -0.38% | -2.54% | +2.16% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -5.62% | -0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 2.50% | -1.17% |
Volatility
ZPRC.DE vs. SPYW.DE - Volatility Comparison
SPDR Refinitiv Global Convertible Bond UCITS ETF (ZPRC.DE) has a higher volatility of 3.94% compared to SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.DE) at 2.92%. This indicates that ZPRC.DE's price experiences larger fluctuations and is considered to be riskier than SPYW.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 | SPYW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.94% | 2.92% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 9.36% | 8.76% | +0.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.45% | 10.65% | +0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.54% | 13.27% | -2.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.76% | 14.88% | -4.12% |
ZPRC.DE vs. SPYW.DE - Expense Ratio Comparison
ZPRC.DE has a 0.50% expense ratio, which is higher than SPYW.DE's 0.30% expense ratio.
Dividends
ZPRC.DE vs. SPYW.DE - Dividend Comparison
ZPRC.DE's dividend yield for the trailing twelve months is around 0.57%, less than SPYW.DE's 3.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) | 3.60% | 4.07% | 3.67% | 3.31% | 3.62% | 2.78% | 3.05% | 3.10% | 3.74% | 3.15% | 2.97% | 2.99% |
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 SPYW.DE have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYW.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYW.DE is cheaper with a 0.30% expense ratio, compared with 0.50% for ZPRC.DE.
ZPRC.DE is categorized as Convertible Bonds, while SPYW.DE is Europe Equities. ZPRC.DE tracks Refinitiv Qualified Global Convertible, while SPYW.DE tracks S&P Euro High Yield Dividend Aristocrats. Their fees differ too: 0.50% for ZPRC.DE and 0.30% for SPYW.DE.
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