ZPRE.DE vs. SPYL.DE
ZPRE.DE (SPDR MSCI EMU UCITS ETF) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - ZPRE.DE is a Europe Equities fund tracking the MSCI EMU, while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, ZPRE.DE returned 18.16% vs 25.56% for SPYL.DE. A 0.56 correlation means they provide meaningful diversification when combined. ZPRE.DE charges 0.18%/yr vs 0.03%/yr for SPYL.DE.
Performance
ZPRE.DE vs. SPYL.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 SPYL.DE's 11.37% return.
ZPRE.DE
- 1D
- 0.59%
- 1M
- 4.67%
- YTD
- 9.05%
- 6M
- 10.89%
- 1Y
- 18.16%
- 3Y*
- 15.98%
- 5Y*
- 10.50%
- 10Y*
- 9.98%
SPYL.DE
- 1D
- -0.15%
- 1M
- 4.36%
- YTD
- 11.37%
- 6M
- 10.86%
- 1Y
- 25.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPRE.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZPRE.DE SPDR MSCI EMU UCITS ETF | 9.05% | 24.37% | 9.48% | 10.81% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.37% | 4.71% | 32.33% | 9.54% |
Correlation
The correlation between ZPRE.DE and SPYL.DE is 0.65, 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 | 0.65 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.56 |
The correlation between ZPRE.DE and SPYL.DE has been stable across timeframes, ranging from 0.56 to 0.65 - a consistent structural relationship.
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Return for Risk
ZPRE.DE vs. SPYL.DE — Risk / Return Rank
ZPRE.DE
SPYL.DE
ZPRE.DE vs. SPYL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI EMU UCITS ETF (ZPRE.DE) and State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.41 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 3.58 | -1.82 |
| Martin ratioReturn relative to average drawdown | 6.43 | 12.72 | -6.29 |
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 | SPYL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 2.21 | -0.97 |
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 | 1.54 | -1.00 |
Drawdowns
ZPRE.DE vs. SPYL.DE - Drawdown Comparison
The maximum ZPRE.DE drawdown since its inception was -38.16%, which is greater than SPYL.DE's maximum drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for ZPRE.DE and SPYL.DE.
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Drawdown Indicators
| ZPRE.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.16% | -23.27% | -14.89% |
Max Drawdown (1Y)Largest decline over 1 year | -10.27% | -7.13% | -3.14% |
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% | -0.46% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -5.83% | -3.24% | -2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 2.01% | +0.81% |
Volatility
ZPRE.DE vs. SPYL.DE - Volatility Comparison
SPDR MSCI EMU UCITS ETF (ZPRE.DE) has a higher volatility of 4.62% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 2.66%. This indicates that ZPRE.DE's price experiences larger fluctuations and is considered to be riskier than SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 2.66% | +1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 11.92% | 7.57% | +4.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.52% | 11.52% | +3.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 14.61% | +1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 14.61% | +2.51% |
ZPRE.DE vs. SPYL.DE - Expense Ratio Comparison
ZPRE.DE has a 0.18% expense ratio, which is higher than SPYL.DE's 0.03% 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. SPYL.DE - Dividend Comparison
Neither ZPRE.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPRE.DE and SPYL.DE have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYL.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.DE is cheaper with a 0.03% expense ratio, compared with 0.18% for ZPRE.DE.
ZPRE.DE is categorized as Europe Equities, while SPYL.DE is S&P 500. ZPRE.DE tracks MSCI EMU, while SPYL.DE tracks S&P 500 Index. Their fees differ too: 0.18% for ZPRE.DE and 0.03% for SPYL.DE.
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