ZPRE.DE vs. SPYY.DE
ZPRE.DE (SPDR MSCI EMU UCITS ETF) and SPYY.DE (SPDR MSCI ACWI UCITS ETF) are both exchange-traded funds - ZPRE.DE is a Europe Equities fund tracking the MSCI EMU, while SPYY.DE is a Global Equities fund tracking the MSCI All Country World (ACWI). Both are passively managed. Over the past 10 years, ZPRE.DE returned 9.98%/yr vs 12.40%/yr for SPYY.DE. A 0.76 correlation means they provide meaningful diversification when combined. ZPRE.DE charges 0.18%/yr vs 0.40%/yr for SPYY.DE.
Performance
ZPRE.DE vs. SPYY.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 SPYY.DE's 12.54% return. Over the past 10 years, ZPRE.DE has underperformed SPYY.DE with an annualized return of 9.98%, while SPYY.DE has yielded a comparatively higher 12.40% annualized 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%
SPYY.DE
- 1D
- -0.21%
- 1M
- 3.63%
- YTD
- 12.54%
- 6M
- 12.75%
- 1Y
- 26.58%
- 3Y*
- 17.99%
- 5Y*
- 12.35%
- 10Y*
- 12.40%
ZPRE.DE vs. SPYY.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% |
SPYY.DE SPDR MSCI ACWI UCITS ETF | 12.54% | 9.46% | 24.56% | 18.22% | -13.82% | 29.11% | 5.12% | 30.21% | -6.02% | 8.80% |
Correlation
The correlation between ZPRE.DE and SPYY.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 (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2013 | 0.76 |
The correlation between ZPRE.DE and SPYY.DE has been stable across timeframes, ranging from 0.71 to 0.79 - a consistent structural relationship.
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Return for Risk
ZPRE.DE vs. SPYY.DE — Risk / Return Rank
ZPRE.DE
SPYY.DE
ZPRE.DE vs. SPYY.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI EMU UCITS ETF (ZPRE.DE) and SPDR MSCI ACWI UCITS ETF (SPYY.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 | SPYY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.44 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 4.10 | -2.34 |
| Martin ratioReturn relative to average drawdown | 6.43 | 16.60 | -10.17 |
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 | SPYY.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 2.32 | -1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.88 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.82 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.83 | -0.29 |
Drawdowns
ZPRE.DE vs. SPYY.DE - Drawdown Comparison
The maximum ZPRE.DE drawdown since its inception was -38.16%, which is greater than SPYY.DE's maximum drawdown of -33.49%. Use the drawdown chart below to compare losses from any high point for ZPRE.DE and SPYY.DE.
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Drawdown Indicators
| ZPRE.DE | SPYY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.16% | -33.49% | -4.67% |
Max Drawdown (1Y)Largest decline over 1 year | -10.27% | -6.49% | -3.78% |
Max Drawdown (3Y)Largest decline over 3 years | -15.13% | -21.27% | +6.14% |
Max Drawdown (5Y)Largest decline over 5 years | -24.48% | -21.27% | -3.21% |
Max Drawdown (10Y)Largest decline over 10 years | -38.16% | -33.49% | -4.67% |
Current DrawdownCurrent decline from peak | -0.47% | -0.61% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -5.83% | -4.39% | -1.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 1.61% | +1.21% |
Volatility
ZPRE.DE vs. SPYY.DE - Volatility Comparison
SPDR MSCI EMU UCITS ETF (ZPRE.DE) has a higher volatility of 4.62% compared to SPDR MSCI ACWI UCITS ETF (SPYY.DE) at 3.05%. This indicates that ZPRE.DE's price experiences larger fluctuations and is considered to be riskier than SPYY.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 | SPYY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 3.05% | +1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 11.92% | 8.21% | +3.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.52% | 11.47% | +3.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 13.90% | +2.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 15.07% | +2.05% |
ZPRE.DE vs. SPYY.DE - Expense Ratio Comparison
ZPRE.DE has a 0.18% expense ratio, which is lower than SPYY.DE's 0.40% expense ratio.
Dividends
ZPRE.DE vs. SPYY.DE - Dividend Comparison
Neither ZPRE.DE nor SPYY.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPRE.DE and SPYY.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, 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 0.40% for SPYY.DE.
ZPRE.DE is categorized as Europe Equities, while SPYY.DE is Global Equities. ZPRE.DE tracks MSCI EMU, while SPYY.DE tracks MSCI All Country World (ACWI). Their fees differ too: 0.18% for ZPRE.DE and 0.40% for SPYY.DE.
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