ZPRE.DE vs. FWIA.DE
ZPRE.DE (SPDR MSCI EMU UCITS ETF) and FWIA.DE (Invesco FTSE All-World UCITS ETF Acc) are both exchange-traded funds - ZPRE.DE is a Europe Equities fund tracking the MSCI EMU, while FWIA.DE is a Global Equities fund tracking the FTSE All-World. Both are passively managed. Over the past year, ZPRE.DE returned 17.71% vs 26.39% for FWIA.DE. A 0.71 correlation means they provide meaningful diversification when combined. ZPRE.DE charges 0.18%/yr vs 0.15%/yr for FWIA.DE.
Performance
ZPRE.DE vs. FWIA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPRE.DE achieves a 9.05% return, which is significantly lower than FWIA.DE's 12.60% return.
ZPRE.DE
- 1D
- 0.59%
- 1M
- 2.03%
- YTD
- 9.05%
- 6M
- 10.79%
- 1Y
- 17.71%
- 3Y*
- 15.98%
- 5Y*
- 10.50%
- 10Y*
- 9.98%
FWIA.DE
- 1D
- -0.22%
- 1M
- 3.67%
- YTD
- 12.60%
- 6M
- 12.82%
- 1Y
- 26.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPRE.DE vs. FWIA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZPRE.DE SPDR MSCI EMU UCITS ETF | 9.05% | 24.37% | 9.48% | 4.05% |
FWIA.DE Invesco FTSE All-World UCITS ETF Acc | 12.60% | 9.02% | 24.70% | 7.73% |
Correlation
The correlation between ZPRE.DE and FWIA.DE is 0.77, 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 | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023 | 0.71 |
The correlation between ZPRE.DE and FWIA.DE has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.
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Return for Risk
ZPRE.DE vs. FWIA.DE — Risk / Return Rank
ZPRE.DE
FWIA.DE
ZPRE.DE vs. FWIA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI EMU UCITS ETF (ZPRE.DE) and Invesco FTSE All-World UCITS ETF Acc (FWIA.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.
| ZPRE.DE | FWIA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.44 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 4.08 | -2.32 |
| Martin ratioReturn relative to average drawdown | 6.43 | 16.52 | -10.09 |
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
| ZPRE.DE | FWIA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 2.36 | -1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 1.40 | -0.86 |
Drawdowns
ZPRE.DE vs. FWIA.DE - Drawdown Comparison
The maximum ZPRE.DE drawdown since its inception was -38.16%, which is greater than FWIA.DE's maximum drawdown of -20.96%. Use the drawdown chart below to compare losses from any high point for ZPRE.DE and FWIA.DE.
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Drawdown Indicators
| ZPRE.DE | FWIA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.16% | -20.96% | -17.20% |
Max Drawdown (1Y)Largest decline over 1 year | -10.27% | -6.49% | -3.78% |
Max Drawdown (3Y)Largest decline over 3 years | -15.13% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.16% | — | — |
Current DrawdownCurrent decline from peak | -0.47% | -0.62% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -5.83% | -2.44% | -3.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 1.60% | +1.22% |
Volatility
ZPRE.DE vs. FWIA.DE - Volatility Comparison
SPDR MSCI EMU UCITS ETF (ZPRE.DE) has a higher volatility of 4.62% compared to Invesco FTSE All-World UCITS ETF Acc (FWIA.DE) at 2.96%. This indicates that ZPRE.DE's price experiences larger fluctuations and is considered to be riskier than FWIA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPRE.DE | FWIA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 2.96% | +1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 11.92% | 8.09% | +3.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.52% | 11.22% | +3.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 13.18% | +2.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 13.18% | +3.94% |
ZPRE.DE vs. FWIA.DE - Expense Ratio Comparison
ZPRE.DE has a 0.18% expense ratio, which is higher than FWIA.DE's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ZPRE.DE vs. FWIA.DE - Dividend Comparison
Neither ZPRE.DE nor FWIA.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPRE.DE and FWIA.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FWIA.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FWIA.DE is cheaper with a 0.15% expense ratio, compared with 0.18% for ZPRE.DE.
ZPRE.DE is categorized as Europe Equities, while FWIA.DE is Global Equities. ZPRE.DE tracks MSCI EMU, while FWIA.DE tracks FTSE All-World. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.18% for ZPRE.DE and 0.15% for FWIA.DE.
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