ZPRE.DE vs. IBCJ.DE
ZPRE.DE (SPDR MSCI EMU UCITS ETF) and IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) are both Europe Equities funds - ZPRE.DE tracks the MSCI EMU while IBCJ.DE tracks the MSCI Poland. Both are passively managed. Over the past 10 years, ZPRE.DE returned 9.98%/yr vs 9.17%/yr for IBCJ.DE. A 0.58 correlation means they provide meaningful diversification when combined. ZPRE.DE charges 0.18%/yr vs 0.74%/yr for IBCJ.DE.
Performance
ZPRE.DE vs. IBCJ.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 IBCJ.DE's 16.30% return. Over the past 10 years, ZPRE.DE has outperformed IBCJ.DE with an annualized return of 9.98%, while IBCJ.DE has yielded a comparatively lower 9.17% annualized 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%
IBCJ.DE
- 1D
- 0.17%
- 1M
- 1.95%
- YTD
- 16.30%
- 6M
- 26.50%
- 1Y
- 40.90%
- 3Y*
- 29.89%
- 5Y*
- 14.80%
- 10Y*
- 9.17%
ZPRE.DE vs. IBCJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZPRE.DE SPDR MSCI EMU UCITS ETF | 9.05% | 24.37% | 9.48% | 18.70% | -11.85% | 21.92% | -0.70% | 27.13% | -12.82% | 13.22% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 16.30% | 53.66% | -0.42% | 43.86% | -21.74% | 14.34% | -18.69% | -3.73% | -9.07% | 35.59% |
Correlation
The correlation between ZPRE.DE and IBCJ.DE is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2013 | 0.58 |
The correlation between ZPRE.DE and IBCJ.DE has been stable across timeframes, ranging from 0.57 to 0.60 - a consistent structural relationship.
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Return for Risk
ZPRE.DE vs. IBCJ.DE — Risk / Return Rank
ZPRE.DE
IBCJ.DE
ZPRE.DE vs. IBCJ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI EMU UCITS ETF (ZPRE.DE) and iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.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 | IBCJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.28 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 3.90 | -2.13 |
| Martin ratioReturn relative to average drawdown | 6.43 | 9.60 | -3.17 |
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 | IBCJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 1.65 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.55 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.36 | +0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.15 | +0.40 |
Drawdowns
ZPRE.DE vs. IBCJ.DE - Drawdown Comparison
The maximum ZPRE.DE drawdown since its inception was -38.16%, smaller than the maximum IBCJ.DE drawdown of -56.11%. Use the drawdown chart below to compare losses from any high point for ZPRE.DE and IBCJ.DE.
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Drawdown Indicators
| ZPRE.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.16% | -56.11% | +17.95% |
Max Drawdown (1Y)Largest decline over 1 year | -10.27% | -9.96% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -15.13% | -18.47% | +3.34% |
Max Drawdown (5Y)Largest decline over 5 years | -24.48% | -47.31% | +22.83% |
Max Drawdown (10Y)Largest decline over 10 years | -38.16% | -56.11% | +17.95% |
Current DrawdownCurrent decline from peak | -0.47% | -1.16% | +0.69% |
Average DrawdownAverage peak-to-trough decline | -5.83% | -19.38% | +13.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 4.05% | -1.23% |
Volatility
ZPRE.DE vs. IBCJ.DE - Volatility Comparison
The current volatility for SPDR MSCI EMU UCITS ETF (ZPRE.DE) is 4.62%, while iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) has a volatility of 7.13%. This indicates that ZPRE.DE experiences smaller price fluctuations and is considered to be less risky than IBCJ.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 | IBCJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 7.13% | -2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 11.92% | 17.61% | -5.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.52% | 23.48% | -8.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 26.72% | -10.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 25.15% | -8.03% |
ZPRE.DE vs. IBCJ.DE - Expense Ratio Comparison
ZPRE.DE has a 0.18% expense ratio, which is lower than IBCJ.DE's 0.74% expense ratio.
Dividends
ZPRE.DE vs. IBCJ.DE - Dividend Comparison
Neither ZPRE.DE nor IBCJ.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPRE.DE and IBCJ.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPRE.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPRE.DE is cheaper with a 0.18% expense ratio, compared with 0.74% for IBCJ.DE.
ZPRE.DE tracks MSCI EMU, while IBCJ.DE tracks MSCI Poland. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for ZPRE.DE and 0.74% for IBCJ.DE.
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