ZPRC.DE vs. SXRS.DE
ZPRC.DE (SPDR Refinitiv Global Convertible Bond UCITS ETF) and SXRS.DE (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - ZPRC.DE is a Convertible Bonds fund tracking the Refinitiv Qualified Global Convertible, while SXRS.DE is a Commodities fund tracking the Bloomberg Commodity. Both are passively managed. Over the past 5 years, ZPRC.DE returned 7.58%/yr vs 12.06%/yr for SXRS.DE. At a 0.24 correlation, their price movements are largely independent. ZPRC.DE charges 0.50%/yr vs 0.19%/yr for SXRS.DE.
Performance
ZPRC.DE vs. SXRS.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 SXRS.DE's 23.84% return.
ZPRC.DE
- 1D
- -0.38%
- 1M
- 4.36%
- YTD
- 19.28%
- 6M
- 19.64%
- 1Y
- 33.40%
- 3Y*
- 16.27%
- 5Y*
- 7.58%
- 10Y*
- 8.83%
SXRS.DE
- 1D
- -1.56%
- 1M
- -0.35%
- YTD
- 23.84%
- 6M
- 22.88%
- 1Y
- 34.67%
- 3Y*
- 12.54%
- 5Y*
- 12.06%
- 10Y*
- —
ZPRC.DE vs. SXRS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | -0.43% |
SXRS.DE iShares Diversified Commodity Swap UCITS ETF | 23.84% | 4.72% | 10.95% | -10.44% | 20.69% | 40.00% | -13.37% | 9.72% | -6.15% |
Correlation
The correlation between ZPRC.DE and SXRS.DE is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2018 | 0.24 |
The correlation between ZPRC.DE and SXRS.DE shifts across timeframes, from 0.04 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ZPRC.DE vs. SXRS.DE — Risk / Return Rank
ZPRC.DE
SXRS.DE
ZPRC.DE vs. SXRS.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 iShares Diversified Commodity Swap UCITS ETF (SXRS.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 | SXRS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.34 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 6.98 | 4.00 | +2.97 |
| Martin ratioReturn relative to average drawdown | 25.17 | 8.95 | +16.22 |
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 | SXRS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.93 | 1.87 | +1.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.70 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.53 | +0.28 |
Drawdowns
ZPRC.DE vs. SXRS.DE - Drawdown Comparison
The maximum ZPRC.DE drawdown since its inception was -23.49%, smaller than the maximum SXRS.DE drawdown of -27.64%. Use the drawdown chart below to compare losses from any high point for ZPRC.DE and SXRS.DE.
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Drawdown Indicators
| ZPRC.DE | SXRS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.49% | -27.64% | +4.15% |
Max Drawdown (1Y)Largest decline over 1 year | -4.80% | -8.75% | +3.95% |
Max Drawdown (3Y)Largest decline over 3 years | -13.00% | -16.03% | +3.03% |
Max Drawdown (5Y)Largest decline over 5 years | -20.71% | -27.56% | +6.85% |
Max Drawdown (10Y)Largest decline over 10 years | -23.49% | — | — |
Current DrawdownCurrent decline from peak | -0.38% | -4.99% | +4.61% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -13.12% | +7.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 3.92% | -2.59% |
Volatility
ZPRC.DE vs. SXRS.DE - Volatility Comparison
The current volatility for SPDR Refinitiv Global Convertible Bond UCITS ETF (ZPRC.DE) is 3.94%, while iShares Diversified Commodity Swap UCITS ETF (SXRS.DE) has a volatility of 5.76%. This indicates that ZPRC.DE experiences smaller price fluctuations and is considered to be less risky than SXRS.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 | SXRS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.94% | 5.76% | -1.82% |
Volatility (6M)Calculated over the trailing 6-month period | 9.36% | 16.67% | -7.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.45% | 18.76% | -7.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.54% | 17.13% | -6.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.76% | 15.85% | -5.09% |
ZPRC.DE vs. SXRS.DE - Expense Ratio Comparison
ZPRC.DE has a 0.50% expense ratio, which is higher than SXRS.DE's 0.19% expense ratio.
Dividends
ZPRC.DE vs. SXRS.DE - Dividend Comparison
ZPRC.DE's dividend yield for the trailing twelve months is around 0.57%, while SXRS.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SXRS.DE iShares Diversified Commodity Swap 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 SXRS.DE have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SXRS.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SXRS.DE is cheaper with a 0.19% expense ratio, compared with 0.50% for ZPRC.DE.
ZPRC.DE is categorized as Convertible Bonds, while SXRS.DE is Commodities. ZPRC.DE tracks Refinitiv Qualified Global Convertible, while SXRS.DE tracks Bloomberg Commodity. They also come from different issuers: State Street and iShares. Their fees differ too: 0.50% for ZPRC.DE and 0.19% for SXRS.DE.
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